- What is the mission of your company or project?
Our Mission at 3 Buds Holding Company (3BHC) exists because “We Love Our Buds!” This is an intentional double entendre. Of course, this phrase captures the passion and joy we experience from cannabis in all its aspects. This also describes our connection to family, friends, and community. The personal-use, or recreational, cannabis industry in New Jersey is an opportunity matched well to our intentions and experience.
- Describe the problem you are solving.
Our main goal is Repair, Evolve, and Maintain. We are ready to take this chance to repair the damage cannabis prohibition has caused in our lives and our neighborhoods. 3BHC is cognizant of continuous improvement and aligning individual, communal, and environmental goals that will help in making our company a successful small business that looks out for our community.
- What is the market size/opportunity?
Projected sales forecasts for New Jersey estimates marijuana sales value of approximately 103.3 million by 2025. In the overall national market, cannabis has proven to be rapidly emergent for the US. With a projected growth over the next five years, according to data evaluated by Statista (https://www.statista.com/statistics/933384/legal-cannabis-sales-forecas…), sales are estimated to reach $25.1 billion by 2025 in legal marijuana sales, with California leading as the single largest market at $4.4 billion in cannabis sales in 2020. Other states such Colorado, Oregon, and DC have proven to be fierce competitors in the industry, and 3BHC is looking at these established markets to attain an understanding of the burgeoning market in New Jersey.
- What is your company/product about and how does it solve the problem?
3BHC is a Class 1 Cultivator Microbusiness, which in short means we grow and harvest cannabis for personal and recreational use. Our strategic plan is our commitment to our customers and community. Compliance, Continuous Improvement, and Productivity are qualities that translate our core values into an actionable business plan that will improve and hopefully reduce the stigma that “weed is bad.”
- Why are you seeking funding and how will you spend the funding?
We are seeking funding for startup capital of $180,000, and to establish general operating support.
We have a fledgling business that consists of three key partners: Ronnette Henry, CEO; Vice President and Head of Operations, Michael P. Ciccone; and Elizabeth Ciccone, CFO. We are a company that takes pride in its diverse leadership and plan to hire and train staff that speaks to our desire to aid in improving and educating our community on the use of cannabis.
- Thank your backers and make them feel appreciated!
We really appreciate all your support and would like to thank you personally in advance for your help in growing our business. As you are sharing your success with us, we look forward to sharing our success with you (wink, wink!)