Company: 420 Property
What started as a simple website to help cannabis entrepreneurs find real estate has expanded into insurance and other financial services and is on pace to generate more than $1 million in revenue in 2022 — a 40% increase over last year and a 500% increase over 2020.
To date, 420 Property has serviced well over 1 million visitors on the platform and has about 3,500 active listings for properties and businesses at any given time, according to CEO Ryan George.
“We’ve really tried to break down the burdens and the barriers for cannabis entrepreneurs by just becoming their go-to resource for not just real estate and businesses, but financial products, as well,” he says.
George began developing the idea about a decade ago, when he was working in commercial real estate and a client of his needed some space for a cannabis business.
“I was either getting the door shut in my face or the landlord was laughing me out of the conversation,” he recalls.
The cannabis industry wasn’t mature enough at the time to warrant a website dedicated to cannabis-friendly properties, but by the time adult-use legalization in California appeared imminent, George began building what would become 420Property.com.
“We kind of rode the election wave into 2016 and all the way to where we are today,” he says.
The site operates on a variety of free and premium subscriptions. Visitors can view or list properties for free, but some options are limited. Premium memberships give visitors full access to the site, increased exposure for listings and other options.
“Most of our products are priced super low,” George says. “Pretty much the same price as Netflix, except Netflix is not making you money or giving you the opportunity to make money.”