Helping Cannabis Retailers Maximize Performance
Tune in to this episode to learn more about helping cannabis retailers maximize performance with Ben Curren, founder, and CEO of Green Bits. Green Bits provides smart management solutions that are helping cannabis retailers maximize performance and make better business decisions. The robust retail platform – with automated state-by-state compliance, inventory control, and personalized insights – enables owners, managers, and budtenders to run, protect, and grow their businesses with ease. The company serves more than 1,100 cannabis retailers across 13 states and processes more than $3.5B in cannabis sales annually. Founded in 2014, Green Bits helps legal cannabis retailers run compliant, operationally efficient and growing stores.
We start by talking about medical cannabis laws across various states, as well as those that have legalized 21 and older adult-use cannabis laws now, and what kind of changes and regulatory challenges are involved moving from a medical-only market into a larger, adult-use market. We dive into Ben’s thoughts around that and what challenges do companies have when facing that transition.
Another major challenge faced by both medical-only as well as adult-use market serving companies is, of course, consistent banking access. Not only getting and keeping a checking account, having the ability to pay your company’s bills and your employee’s payroll. But also loans are difficult to invest further in your own business. Of course, the SAFE Banking Act has passed out of the House, and now we await the Senate. So we talk about all that cash floating around the industry and how we as an industry have found ways to manage it over the years.