COLORADO SPRINGS, Colo. - Marijuana Business Academy hosted a business class on Saturday to educate people interested in getting into the marijuana industry.
Teachers showcased business models for both medicinal and recreational business endeavors.
"Whether you're a small mom-and-pop operation or a big banker, and we're going to show you, this is how you do it in Colorado, this is how it is done correctly," said KC Stark with Marijuana Business Academy.
Stark said the key is education. He said it's critical that people have an understanding of existing marijuana laws as well as the profits and pitfalls possible in the marijuana business.
Malcom McClain attended the all-day seminar. He started farming a victory garden during WWII in 1944. He was fiercely against marijuana for a long time.
"I managed to get through the 40's, 50's, 60's, 70's and 80's without touching any illegal drug," said McClain.
McClain started researching marijuana. He was impressed by the evidence he found that supported claims that marijuana had medicinal benefits.
"I have my own medical needs and I have the medical needs of my son and daughter who are both disabled," said McClain.
Now, McClain sees marijuana as a profitable opportunity.
"When you're retired and you're on social security, does that keep up with inflation? Every year I get a little behind. So if I can make enough to keep us above water, until I turn the farm over to them, that's all I am looking for," said McClain.
McClain admitted it's harder to learn new things at his age. However, he said he learned a lot of new insight into Colorado laws that he can use to come up with a marijuana business model of his own.
The Marijuana Business Academy will host another seminar in 60 days.