The Path from Medical to Adult Use in Maine
Maine isn't just known for its picturesque coastline. After attending a recent cannabis expo—NECANN Maine, my team and I learned about the unique complexities of the local cannabis and CBD industry. Specifically, as we spoke with attendees and exhibitors, we gained insights into the nuances of Maine's cannabis regulations, which may help other states as cannabis legalization becomes increasingly prevalent.
Maine's approach to regulating the cannabis sector is fascinating particularly when it comes to understanding the surprisingly significant differences between medical and adult use licenses. But what does it mean for businesses and investors eyeing the potential goldmine that is the adult-use sector?
Why C-corp is the best business model for most cannabis businesses
With more and more states legalizing cannabis, it’s safe to say that the industry is booming. However, with wildly different regulatory requirements from state to state and current federal limitations on the industry, finding best practices isn’t always easy. What’s more, choosing a business model that meets your cannabis business goals can feel overwhelming.
In addition to following rapidly changing rules and regulations, cannapreneurs must also navigate complex financial circumstances that include limited access to banking options and unique tax considerations.
7 Tips for Planning Profitable Cannabis Events
4/20 is arguably the biggest cannabis-specific holiday, sending many cannabis businesses in a frenzy to make the most out of the resulting celebrations. But it’s far from the only profitable holiday.
Throughout the year, there are plenty of great opportunities to reach your audience and increase sales. But here's the catch—it's not just about selling. It's about doing so profitably. While it's exciting to think about the buzz, the promotions, and the potential foot traffic during a sales event, it’s important to keep an eye to your bottom line.
QB Power Hour: Niche Nuances - Cannabis and CBD Industry
Recently Michelle Long, CPA, MBA and Daniel DeLong at QB Power Hour invited me for a guest appearance on their live show!We covered niche nuances with a specific focus on the cannabis and CBD industry.
Cultivating Loyalty: Growing Your Cannabis Business Through Customer Retention
Cultivating Loyalty: Growing Your Cannabis Business Through Customer RetentionLet's be real — a thriving cannabis business isn't just about having the highest quality products. It's about the people who keep coming back for more.Loyal customers keep your business afloat and they do more than simply providing steady revenue. When they become superfans, they refer their friends to you. And, cultivating loyalty is not just about feeling or sharing the love. It can grow your profits and put you on the fast track to a flourishing future.You already know that investing time and energy into fostering loyalty is a good idea. So today, we’re sharing actionable tips and strategies to help you do just that.
You Need Accounting Services If You Own A Cannabusiness
Do you operate a cannabusiness but still have questions about how to manage your funds and run your company? You're not the only one! You and the cannabis business are both still in their infancy - you can expect to have lots to learn.
With continual law changes and a growing acceptance of cannabis in society, questions are totally understandable (even anticipated) whether you're an experienced business owner or not.
What Cannapreneurs Need To Know About The Art & Science of Cannabis Business Consulting in 2023
What do you do now after you've made the decision to launch your cannabis business? There is a slim chance that someone in your network has the knowledge to help you navigate best practices, laws, accounting and reporting requirements, and business operations for your new venture.
The cannabis sector is still relatively new, despite its tremendous growth.This is exactly why a specialized cannabusiness consultant is a must-have!
Founders of passion-driven businesses have a lot to learn!
When ambitious people start a business based on something they care deeply about, they’re often missing critical information about running an effective business—and this is the case for many cannapreneurs. As more more states legalize cannabis, the number of would-be-business owners (with plenty of critical business skills to learn) in the cannabis space will increase, too. As the saying goes, “you don’t know what you don’t know.” That’s why a step-by-step quick-start guide to starting and running your own profitable cannabis business is vital!Ready to dig in?
Cash Recycling: A Must-Have for Cannabusinesses
By now you probably know that cannabis businesses are cash heavy—especially dispensaries. Managing that cash doesn’t have to follow old-world best practices. Instead, there’s a modernized approach to managing your cash that’ll make your cash handling process smoother than silk. Introducing cash recycling! Cash recycling machines make your cash handling processes significantly more efficient and secure by reducing the cash you keep on-site.
How Cannabis Businesses Are Embracing The Latest Tech Revolution With Touchless Automation
Should automation procedures be used by all cannabis businesses? No and yes. The answer is as nuanced as the cannabis market.
While larger firms should automate wherever possible, it may not be an absolute must for small businesses. Long-term quality control benefits of automation for cannabusinesses are greater the earlier they’re put in place.