Modelo Got It Right, Cannabis Didn’t, Says Latina CEO Who Built A Multi-State Business With $10K
Cristina Aranguiz did not inherit a legacy license or walk into cannabis with a Silicon Valley war chest. She started with just $10,000, money she saved from real estate side gigs. Today, she runs seven dispensaries and a cannabis manufacturing facility in three states via her companies, Cannabis & Glass and Iowa Cannabis Co.
And she did it all without any outside investment.
A first-generation Cuban-American from Miami, Aranguiz is a rare presence in an industry still dominated by white male capital and C-suite homogeneity. Her journey wasn’t just about building a business; it was about showing what’s possible when people like her get a real shot.
“From family stories of their immigration struggles, I learned early that opportunity isn’t guaranteed, it must be earned,” Aranguiz told Benzinga. “That Cuban-American work ethic instilled in me a relentless drive to not only build something of my own but to do so with integrity, resilience and a commitment to lifting others up along the way.”
From Budtender To CEO: How She Did It With $10K
The barriers were high. Capital was tight. Regulations were constantly shifting. But Aranguiz got to work.
“I opened my first retail dispensary with just $10,000 in savings and I wore every hat, from budtending to compliance, meticulously learning and adapting to complex licensing and reporting requirements until our operation proved its worth.”
Getting experienced professionals on board was another uphill battle.
“Convincing [them] to join us took relentless hiring,” she said.
She focused instead on what she could control: delivering value through pricing, product quality and service. That strategy built loyalty and traction.
She also had to navigate stigma within her own community.
“Breaking cannabis stigma within Latino communities added another layer of challenge. I didn’t even tell my family until we had multiple locations running,” she said. “By betting on myself, leaning into authenticity, and engaging our communities, I turned each obstacle into a stepping-stone for growth.”
Also read: Latino Entrepreneurs Are Thriving In NYC’s Cannabis Market—Here’s The Proof
No VC, No Problem
Precious few cannabis entrepreneurs build multi-state platforms without outside capital. Aranguiz is one of them.
“My grit comes from a deep-rooted discipline instilled by my family’s immigrant journey, and it’s reinforced by our financial rigor. From day one, I committed to reinvesting the majority of our free cash flow back into the business while prioritizing operational excellence before any external expansion,” she said.
“We’ve built a resilient, self-funded platform that confidently competes or exceeds those of …