This week’s Power Player, Karim Webb, thinks capitalism can address the cannabis industry’s ownership disparities.
A former Buffalo Wild Wings franchisee, Webb started 4th MVMT to empower minority cannabis entrepreneurs. The name references Dr. Martin Luther King Jr.’s fight for Black economic empowerment.
The company plans to operate largely like a restaurant franchise: Entrepreneurs receive training and financial support to prepare them for the open market.
Webb talked to WeedWeek about his “enterprise approach” to equity. For a longer conversation with Webb, check out this March 2020 episode of the WeedWeek podcast.
Here’s Webb on 4thMVMT’s pitch to consumers:
We’re going to be very loud…We’ve got a lot of really significant influencers, some of the most powerful voices in the world, that are supporting what we’re up to.
Once we’re open and we’ve got proof of concept, we can unleash all of these allies to talk about what we’re doing. I think that’s going to drive a lot of traffic. It’s going to drive sales.
