Equity Member Spotlight: Next Level Edibles – Anthony Jenkins Jr.
This month, NCIA’s editorial department continues the monthly Member Spotlight series by highlighting our Social Equity Scholarship Recipients as part of our Diversity, Equity, and Inclusion Program. Participants are gaining first-hand access to regulators in key markets to get insight on the industry, tips for raising capital, and advice on how to access and utilize data to ensure success in their businesses, along with all the other benefits available to NCIA members.
Tell me a bit about your background and why you launched your company?
I was born in Hayward, California and spent most of my childhood in Mesa, Arizona, and in the Bay Area, in Northern California. After high school, I spent some time at The Farm (Stanford) and graduated from The House (Morehouse College).
Next Level was started almost 10 years ago. During a particularly trying part of my life, a medical professional recommended antidepressants and anti-anxiety medicine for symptoms I was experiencing. Taking these drugs made me feel slightly better, but came with a host of other problems; twitching, irritability, weight gain. I needed another solution.
In college, I experimented with cannabis and as an adult, I found that it alleviated my symptoms without the side effects. Unfortunately, the halflife for cannabis is only 90 minutes which wasn’t nearly long enough to cover my full workday. I learned about edibles and how they can last for 4 to 6 hours and I was really attracted to their lack of smell. As a business professional, a deal could be broken if I smelled like cannabis. Edibles did not have a negative connotation and were perfectly discreet for my work environment.
Unfortunately, edibles only came in two different types at this time period: tasty, but completely lacking on potency, or absolutely disgusting and potent. No one should ever need a chaser for their edibles. The industry was ripe for a company with absolutely delicious products that could also provide a strong dosage.
What unique value does your company offer to the cannabis industry?
Next Level empowers people to infuse any food or beverage and accurately dose it for higher tolerances. With our products, the home cook can imbue any dish her heart desires and the morning warrior can add a kick to his favorite hot beverages.
Cannabis companies have a unique responsibility to shape this growing industry to be socially responsible and advocate for it to be treated fairly. How does your company help work toward that goal for the greater good of the cannabis industry?
When we started this venture, there was not much information out there about equity cannabis companies. Realizing there are probably many other minority entrepreneurs trying to start a cannabis business, I started a Facebook group called CES (Cannabis Equity Success) to help disseminate information about equity programs across America and to raise the profile of equity companies to support. In addition, I’ve been assisting new entrepreneurs to get connected with resources to see their vision come to light. As a minority-owned business, it is very important that we celebrate and support other businesses owned and operated by women, veterans, those with disabilities, and people of color.
It is Next Level’s vision to support these minority-owned businesses. Partnering with women-owned businesses, like Changemaker Creative, not only makes good business sense as they are local leaders in the industry, but also allows us to gain key insights into our target market. The owner and head creator, Lilli Keinaenen, is able to provide details and cater designs that appeal directly to her demographic. Other awesome women-led companies that are our strategic partners include our copacker, the Galley, and Supernova women.
In our distribution chain, we work with BIPOC owned companies like Local Equity Distribution and Breeze which provide jobs and revenue to the people and communities negatively impacted by cannabis arrests.
What kind of challenges do you face in the industry and what solutions would you like to see?
The biggest challenge we face in the industry is getting dispensaries to buy small company products. We are a small “mom and pop” owned by family members from Oakland, CA. It’s more challenging to get dispensary buyers to sit down with us because they prefer to save their time and shelf space for the larger established brands. One possible solution for this problem is to have each dispensary dedicate a certain portion of its stock to legacy brands/small mom and pops/equity companies.
The other challenge we face is getting access to capital. This is a bootstrapped venture, and issues in cannabis take a lot more time and money to solve than other industries. Unfortunately, there are not a lot of angel investors or investment companies putting money in cannabis and even less in minority entrepreneurs. The solution for this is to make the investment world much more equitable and inclusive.
Why did you join NCIA through the DEI Scholarship Proogram? What’s the best part about being a member?
I joined NCIA through the DEI Scholarship Program for an opportunity to learn best practices for my industry and to network with the finest minds in cannabis.
Service Solutions | 7.13.21 | Learn How to Grow Your Cannabis Business with Acumatica Cloud ERP
NCIA’s #IndustryEssentials webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most. The Service Solutions series is our sponsored content webinar program which will allow business owners the opportunity to learn more about premier products, services and industry solutions directly from our network of established suppliers, providers and thought leaders.
With shifting public sentiment, state-specific cannabis laws, and licensing requirements, the Cannabis industry is in a constant state of change. From securing capital and licensing to hiring qualified people and meeting compliance mandates, the path to success is filled with challenges, but a mobile, adaptable business management solution will expedite and ensure your progress.
Enterprise resource planning (ERP) solutions provide Cannabis companies like yours cloud-based financials, inventory management, sales, operations, as well as tracking, monitoring, and reporting on raw materials from seed to sale. Learn how Acumatica – the leading innovator in Cloud ERP – will make your growing business more agile and efficient.
Learning Objectives
• Hear an Acumatica company overview, real success stories from Cannabis companies just like yours, followed by a product demo.
• Learn how ERP can be used to track, monitor, and report on raw materials and finished goods.
• How to manage accounting, sales, operations in one system and track the cost of goods – manage staff, assign tasks, and reduce manual error calculations.
• Streamline the signal flow throughout your business with the world’s fastest growing and most adaptable cloud ERP solution, Acumatica.
Panelists:
Sean Chatterjee
Vice President, Partner Sales
Acumatica
Eric Moreau
Director, Presales
Acumatica
Member Blog: How Cannabis Dispensaries Can Navigate The METRC System
Cannabis dispensary owners must bear in mind that this industry operates under strict laws and regulations that set their business apart from conventional retail operations. State governments must balance public health and safety with the business needs of the regulated community, and that requires complete tracking of all marijuana products from seed to sale. Most states have already switched to METRC, the largest traceability system helping dispensaries from coast to coast stay compliant with the law. The goal of METRC is to easily retrace the steps from sale to seed and facilitate transparency in the legal cannabis industry. This post will help you understand better why METRC is required, how it benefits everyone, and how can you navigate the system while using the right technology to stay compliant.
What is METRC & Why it is Needed?
Marijuana Enforcement Tracking Reporting Compliance (METRC) is a cloud-based, state-mandated platform used by 15 states in the U.S. It facilitates real-time tracking and tracing of cannabis plants and products from seed to sale. METRC was first adopted by Colorado and early reports in 2014 indicated that this regulatory monitoring technology allowed for accurate quality control and ensured that the safety of the end consumer was prioritized.
In all METRC states, cannabis stores and dispensaries must use the system either directly or integrate it with their POS. All data about your dispensary is safely stored in the cloud and is only accessible by you or the state regulatory authority. State regulatory authorities use data inconsistencies in METRC to detect any diversions from the mandated regulations and if they find any discrepancies, they could conduct an investigation and impose hefty fines.
How to Prepare for METRC?
To gain access to the METRC system, all employees working at your dispensary must get certified. The process involves training, studying the terminology and workflows, and then taking a 40 questions multiple-choice test. METRC uses RFID tags as unique identifiers to recognize and monitor all transactions, these are not reusable and must be purchased in batches or bulk by dispensaries.
Every dispensary must incorporate its own solution to work with METRC. One can navigate the system manually but it is a risky and time-consuming process, as it involves countless hours of data entry, auditing, and reconciling processes to deal with the errors that inevitably pop up. The most convenient way to implement METRC is to automate as much of the process as possible. Investing in a robust point-of-sale solution that integrates seamlessly with METRC will ensure complete compliance with state regulations.
What are the Daily Obligations?
METRC’s cloud-based software requires only an internet connection and computer or tablet to access and use it, and an advanced POS system can automate the whole process for you. METRC tracks all plants and products with Radio Identification Tags. The plant tag is used to track each plant from its immature phase through to the harvest, while package tags are available for harvest batches or packages of one kind of product. All these activities must be recorded by dispensaries and reported to state regulatory authorities on time.
METRC charges $0.45 per plant tag and $ 0.25 per package tag. The tags can be ordered directly from METRC’s online software system, and are custom-printed for each dispensary. These can not be returned once the printing process has begun, are non-refundable, and cannot be reintroduced into the supply chain. Recreational cannabis plant tags are blue while medical marijuana plant tags are yellow.
Manual or Automatic Reporting?
METRC is simply a reporting tool – an application that allows you to send data to the state to maintain compliance. In most states, reports about all activities must be submitted to METRC no later than midnight on the day they occurred. A cannabis-specific POS can facilitate reporting to METRC while providing a user-friendly interface. To get the best compliance solutions, look for a POS that offers 2-way integration. This ensures that reports are sent to METRC in real-time, manifest intake is automated, and inventory adjustments are automatically synced with the traceability system.
Manual reporting will require you to log in to your online METRC account at the end of every business day to enter all data from every single transaction and activity that occurred. This is a time-consuming option that can also result in errors, increasing the risk of compliance infractions, fines, or worse, loss of retail license. Automated reporting with a cannabis-specific POS solution will make your life easier as it integrates seamlessly with METRC and automatically sends all your inventory adjustments and sales transactions as they occur in real-time. Also, if there are ever any connectivity issues, all saved data automatically sync once you are back online.
METRC has standard operating procedures in all states, and dispensaries don’t have a choice but to comply with them. But dispensary owners do have the option of selecting the right POS system that can help their employees navigate the METRC system more efficiently. Download your free copy of ‘A Complete Guide to METRC Compliance for Marijuana Dispensaries’ by Cova, to learn in-depth about the different levels of POS integrations with METRC, how to work best with the system, and state-specific METRC differences.
Gary Cohen is the CEO of Cova Software, the fastest growing technology brand in the cannabis industry. Cohen’s focus has been driving the company’s overall strategy, including its vision, go-to-market plan, and strategic development. Since joining the cannabis industry in 2016 and launching Cova commercially in 4q17, Cohen has led Cova to dominate the enterprise sector for dispensary Point of Sale, while forging client relationships with hundreds of single-store retailers across North America.
In solutioning the POS platform, Cohen & the Cova team have met with over 1,900 operators and leveraged expert knowledge to provide retailers the support they need to get a license, pass inspection, launch a store, and improve operations. Cohen leads seminars on retail technology, compliance, business operations, and cannabis banking laws at the industry’s largest events, including the NCIA and MJBizCon. As Cova has become the predominate thought leader for cannabis retail tech, Cohen has established himself as a leading voice educating cannabis entrepreneurs as they build their own successful brands.
Member Blog: Protecting Your Cannabis Dispensary During The Coronavirus Outbreak
Amidst the coronavirus outbreak, cannabis dispensaries across the U.S. are posting record sales numbers. Many people are stocking up on what they consider to be the essentials. While we are always excited when our clients see increased sales, we need to emphasize the following:
Do not trade a short-term jump in revenue for the long-term damage you can do to your customers, employees, and community by continuing to operate your business as usual. It is NOT business as usual for most Americans right now, and precautions need to be taken by dispensaries that are continuing to operate.
Be ahead of the curve. Be proactive with the measures we outline below rather than just responding to coronavirus restrictions when you are required to. It shows that you put your customers and staff’s health ahead of profit… Which you should be doing anyway. Being the first in your market to voluntarily adopt these precautions is newsworthy, and you may be rewarded with some media coverage if you spin it right.
Cannabis is a medical necessity for many of your customers, whether they do their actual shopping on the rec or medical side. And your employees are depending on their jobs to continue to support their families during this very difficult time. That’s why we encourage dispensaries to continue to serve their customers and staff but to do everything in their power to reduce the risk of spreading COVID-19. And while there is no way to eliminate the risk entirely while continuing to operate, there are many things you can do to reduce the risk of spreading the virus amongst your staff and customers.
Encourage online ordering
If your dispensary is in a market that offers online ordering, offer incentives to encourage customers to do this. Make sure you send e-blasts and text messages advertising the incentive, and include a pop up on your website promoting it.
Offer curbside pickup or delivery
If you’re in a state that allows it, like Michigan, offer curbside pickup. Many places already offer delivery. Either of these are far better options than allowing people into your store, and should be encouraged with an incentive. If you need to beef up your delivery staff, remember that there are many, many folks in the service industry that are now desperately looking for work as restaurants and bars are closed down. If you’re in a market that allows curbside pickup, delivery, and/or order ahead, then considering shutting down in-store purchases completely.
Limit the number of people in your waiting room and/or store
Social distancing is the mandate across the entire country, so reducing the number of people physically in your dispensary at any one time is critical. Consider a “call-back” service, similar to how many restaurants operate their seating. Customers give you their name and phone number and are added to a list. They can then go wait in their car until you call them to come into the store to make their purchase. It slows down the customer flow but will drastically reduce the number of people in close proximity.
Require hand-sanitizing before entering the store
This one is simple! In most states, dispensaries have the right to refuse service to anyone for any reason. Have an employee stationed at the door and require customers to apply hand-sanitizer before entering the premises. Refuse service to anyone that won’t use the hand-sanitizer.
Rotate staff on “round-the-clock” cleaning
Every business that remains open should be conducting a deep cleaning multiple times per day. Critical to that is sterilizing the “problem spots” that are most commonly touched by customers and staff inside your store. Light switches, door handles, credit card terminals, ATM buttons, and computer keyboards. If you have a location and staff large enough to support it, then consider round-the-clock cleaning of the interior.
Shut down your store
Drastic times call for drastic measures.Pro-actively closing down your cannabis dispensary even before it’s required by law may be the best option for some business owners. In certain markets, it may be the only responsible choice. Consider the fallout and permanent damage to your business if a customer or employee is infected, gets seriously ill, or dies because of an interaction they had in your store.
It’s important to keep in mind that this jump in sales and/or complete closure are only temporary. Regardless of what you do with your dispensary, consider the long-term implications of your business choices.
When things do return to normal, how will your stakeholders view your actions or inactions?
If you must close your dispensary, keep your community close and engaged. Consider offering formal and informal virtual events, merch giveaways, contests, or educational webinars. There are lots of streaming and collaboration tools available, including many that are free or nearly free.
Johnathan McFarlane is the Director of Strategy at Hybrid Marketing Co. Hybrid Marketing Co is a Denver-based branding and marketing agency that specializes in building custom strategies that supercharge growth and drive revenue. Working with brands and businesses across the U.S. and Canada, Hybrid’s partners run the full-spectrum of the cannabis world including dispensaries, manufacturers, cultivators, and ancillary businesses. Visithybridmarketingco.comto learn more about theHybridapproach.
We have plans in place with several of our clients to maintain their brand visibility if a total shutdown is necessary. We are offering completely free continuity-planning sessions for any cannabis business that is worried about their future.
Member Blog: How CBD Helps Patients With Debilitating Conditions
As a dispensary budtender or owner, you always want to do everything you can to better serve your patients. Oftentimes, that means suggesting different strains and types of medical cannabis based on specific conditions and symptoms. To do that, you and the rest of the staff must understand the chemical makeup of marijuana, including the intricacies of cannabidiol and other cannabinoids.
Cannabidiol and Patients With Chronic Illness
Cannabidiol (CBD) is one of the two primary chemical compounds, or cannabinoids, found in the cannabis plant. The other is tetrahydrocannabinol, more commonly known as THC. However, unlike THC, CBD does not have the psychoactive properties that cause the user to feel high.
Instead, CBD alone can provide patients with many of the pain-relieving benefits of traditional marijuana products without creating that euphoric, but often debilitating, “stoned” feeling. This allows patients who prefer to avoid that effect — like children, the elderly, and recovering addicts — to still benefit from healing powers of medical cannabis.
So, CBD can be used to treat the pain that results from many conditions and symptoms, including cancer, epilepsy, lupus, Parkinson’s disease and related diseases. You can also use CBD to treat mental health conditions, such as anxiety, depression, obsessive-compulsive disorder, insomnia, and schizophrenia.
How Can Budtenders and Dispensary Owners Talk to Patients About CBD?
As budtenders, part of your job is helping patients understand how using CBD to treat chronic conditions can help them. Remember, most people probably have not heard of CBD, and patients may be hesitant to learn about it. Start by explaining the benefits of using only this cannabinoid, such as being able to avoid the high while still finding pain relief. If they seem interested, encourage them to ask questions and tell them more about the specific products that would best treat their symptoms.
A general rule of thumb when discussing marijuana strains is that indica strains — as well as indica-dominant hybrids — have higher CBD content, while sativa strains and sativa-dominant hybrids have a higher THC content. Of course, every strain has a different ratio of CBD-to-THC, but there are many that have little to no THC at all.
While the CBD strains a budtender should recommend will depend heavily on the patient’s specific symptoms, here are a few examples you can choose from:
Swiss Gold
Sour Tsunami
ACDC
Valentine X
Harlequin
Frequently Asked Questions About Cannabidiol
The best way to prepare for patients’ questions is to think about what they may be. Here are three common concerns patients will likely have about CBD:
Is It Safe for Children?
Yes — in fact, it’s incredibly beneficial for children suffering from epilepsy, specifically. One study found that epileptic children experienced an 80 percent reduction in seizures when they used cannabis with a high CBD content.
Will It Still Work?
While everyone reacts to marijuana differently, countless studies have shown CBD is effective in treating all sorts of health conditions and symptoms, like the ones discussed above.
How Can I Ingest CBD?
You can ingest or administer CBD the same ways you would take any other form of marijuana, including by smoking or vaping the herb or oil, eating or drinking an edible product, applying it as a topical lotion or taking a tincture or capsule. However, be sure to check your state’s laws on how you can take your medicine, as each has different guidelines.
Learn More About CBD and Patients With Chronic Illness From MarijuanaDoctors.com
Interested in learning more about how your dispensary can better serve its patients? MarijuanaDoctors.com provides patients with the resources needed to find a trusted doctor in their area and to find reputable dispensaries so that obtaining medication is simple. Check out our other resources at MarijuanaDoctors.com for more information. For even more benefits, register your dispensary with our site today.
Member Blog: How To Choose a POS System For Your Cannabis Retail Operation
It’s fair to say that most businesses will have a higher rate of success when they utilize tools designed with their industry in mind. Running a retail operation in the cannabis industry is no different. In fact, the success rate is likely much higher due to the strict regulations put in place by states to address diversion, public safety and health concerns.
With that in mind, I think it’s safe to say that a cannabis point-of-sale system is one of the most important investments a retail operation will make when opening a dispensary. The right point-of-sale system will not only help operators maintain compliance, but it should also save time and money by providing inventory insight, maximizing sales per customer, and seamlessly integrating with other technology.
In addition to streamlining operations, dispensary owners should also feel confident that customer information is secure, and that fast transaction time is maintained even when traffic is heavier than usual. At the end of the day, your cannabis point-of-sale system should work for you.
Let’s be honest, today’s market is crowded. Dispensary owners now have more than 40 point-of-sale options that promote their ability to optimize operations, acquire new customers, and maintain that customer base. But there are only a few key players who do well in this space, and each of them has pros and cons.
As the industry grows, we want dispensary owners to know that not all cannabis point-of-sale systems are created equal. It’s critical that you take the time to examine each tool to determine what will work best for your operation, be it full vertical or one dispensary location.
That’s why my team and I created a guide as a primer on point-of-sale tech for both new and veteran dispensary owners. We’ve researched information from across the spectrum and organized it into categories to help you navigate this major piece of the dispensary ecosystem.
Gary Cohen, CEO of Cova, leads Cova’s charge into the legal cannabis space by guiding the vision, strategic development, ‘go to market’ plans and culture. A Denver native, he recently moved back to establish Cova’s HQ there. While he joined Cova only a year ago, he was a successful business partner to Cova’s parent company since 2011.
Before joining Cova, Gary was a principal in over a dozen tech start-ups in the mobile communications industry ranging from small VC funded companies to Fortune 100 firms, including Onavo, which was later acquired by Facebook. In those companies he lead Sales, Marketing, Business Analytics and Market Expansions. He has also held a multitude of leadership roles with Verizon and AT&T for the first 15 years of the wireless industry.
Gary holds a Degree in Finance with a Masters in Marketing from the University of Colorado. In his spare time Gary enjoys skiing, mountain biking, outdoor sports, travel and comfort food.
Member Spotlight: The High Road Design Studio
This month, we checked in with award-winning designer Megan Stone, founder of The High Road Design Studio, to hear more about her interior design company. Megan specializes in creating a forward-thinking retail dispensary experience for cannabis consumers and patients. Her company was founded in 2013 and is currently based in Phoenix, Arizona.
Cannabis Industry Sector:
Consulting
NCIA Member Member Since: March 2017
Megan, tell me a bit about your background and why you launched The High Road Design Studio?
I am a Midwestern-grown, West-Coast-processed female millennial business owner who is passionate about elevating the cannabis industry. From a cannabis patient to working in an Orange County dispensary as a budtender and general manager, to a design school student who was switching careers in the midst of my 20’s during the Great Recession, I now design cannabis retail spaces across the U.S. I launched my design company, The High Road Design Studio, as a result of my first-hand experience with cannabis, love for good design, and desire to help reframe people’s perceptions of a plant that saves lives.
I launched The High Road Design Studio to change the way people think, perceive, interact, and experience cannabis.
What unique value does The High Road Design Studio offer to the cannabis industry?
Founded in 2013, The High Road Design Studio aims tochange peoples’ perceptions of cannabis and cannabis users through strategic design thinking. The High Road Design Studio’s work is inspired by my personal experiences in all roles of the cannabis retail experience—customer, employee, and retailer.
The High Road Design Studio has worked with cannabis-focused businesses in more than thirteen states to design unique and profitable retail stores and brands.
Applying the understanding of both the cannabis and retail design industries with personal and professional experience has resulted in The High Road Design Studio’s proven track record of designing industry-leading, award-winning dispensaries. The High Road has earned national and international recognition for its cannabis retail store designs, working with passionate cannabis business owners and thought leaders to evolve the cannabis experience including:
2017 Shop! Design Award – Level Up Dispensary 2016 Shop! Design Award for Store Fixture – TruMed Concentrate Bar Design:retail Magazine’s 40 Under 40 Award, 2016 Marijuana Venture Magazine’s 40 Under 40 Award, 2016 VMSD Magazine’s Designer Dozen Award, 2015 International Retail Design Conference speaker, 2014, 2015, and 2016 National Marijuana Business Conference speaker, 2015 and 2016 GlobalShop speaker, 2017 Shop!X Summit speaker, 2016 Contributing editor on design for MG Magazine
Cannabis companies have a unique responsibility to shape this growing industry to be socially responsible and advocate for it to be treated fairly. How does The High Road Design Studio help work toward that goal for the greater good of the cannabis industry?
The cannabis industry is booming – and it needs a makeover. After decades of its sales being relegated to the black market and its users being labeled as criminals, cannabis is now a mainstay in society, and people everywhere are trying to make sense of this new retail experience. Its retail stores are the public face of the industry and are where the vast majority of interactions with the cannabis industry happen. Design and design thinking applied to the cannabis retail experience are the keys that will unlock the new world of legal cannabis and provide the solutions and creativity needed to attract, educate and satisfy twenty-first century cannabis users.
What kind of challenges do you face in the industry and what solutions would you like to see?
Real estate presents unique challenges in the cannabis industry; cannabis retailers don’t have the luxury of choosing prime retail properties when selecting their locations, so I am often faced with the challenge of creating a shopper-friendly environment out of the complete opposite of a shopper-friendly environment. To tackle this challenge, I use my first-hand experience from shopping in, working in, and designing dispensaries, combined with well-studied retail design principles to bridge the gap between the architectural challenges and the opportunity for a memorable experience.
Why did you join NCIA? What’s the best part about being a member?
NCIA fosters a community that connects passionate industry leaders, influencers, thought leaders and business owners, providing invaluable support. NCIA helps our community work together to change perceptions and elevate the cannabis industry.
It can be tricky enough to find funding for a new business in any industry, but marijuana businesses are at that much more of a disadvantage. Strict regulations, less-than-favorable taxation laws, and straight-up illegality of federal funding stack up against those looking for their starting dollar in the industry.
Without having this backing, dispensary owners need to be creative and resourceful and draw upon the support of private investors to fund their dispensary goals.
Financial planning and sourcing of funds should be a large component of the business plan. Demonstrating an understanding of the scope of start-up costs for a dispensary includes:
Licensing/application costs
Working capital requirements
Cost of inventory (e.g. initial flower, edibles, accessories)
Technology costs (e.g. Point-of-sale system, server costs)
Real estate (e.g. mortgage payments or rent)
Staff training and compensation
Marketing and advertising
While budding cannabis entrepreneurs do have a limited number of funding options, there is still hope. You just have to know where to look.
Self-Funding
Many marijuana start-ups have invested a lot of their own savings into their businesses, recognizing their funding limitations. Speed in the industry is essential, but you may need to take a little extra time to raise your own capital before you turn the “Open” sign on.
Friends & Family
Crowdfunding is becoming increasingly popular for a variety of causes, and reaching out to like-minded individuals in the community who support your vision, and are willing to give you a boost in funds, is not at all unheard of. While there may be limitations in the ways you can publicly crowd-fund, you may be able to hold private events to raise money from your friends and family, as well as those in the community.
Partnerships
The “green rush” that marijuana legalization has caused makes finding potential partners, with similar goals and larger bank accounts, easier to find. There are so many facets to success in the industry, and valuable partnerships can take some of the strain off your own venture. After all, two heads are often better than one!
Cannabis-Specific Investment Groups
A great indicator of progress for the legal cannabis industry is the number of cannabis-specific investment groups that have cropped up across the country, giving entrepreneurs a helpful resource. In fact, last year, these groups provided 18% of marijuana funding.
Learn How to Fund Your Marijuana Business: While the situation for marijuana startup funding may seem grim, more and more investors are beginning to recognize the marijuana industry is thriving with opportunity.
Covasoft has put together a helpful resource to understand the various strategies in the marijuana business. Download our eBook today to learn about willing investors, ready to make a change in the legal marijuana market.
In a career that encompassed a dozen start-ups, Gary Cohen has held leadership roles with Verizon and AT&T, has managed technology-oriented research practices for Nielsen, Milestone Group and ITG/MScience, and led software/internet ventures Shoptok, Birdstep and Handmade Mobile. He has also been on the boards of several tech start-ups, including Onavo (acquired by Facebook), OpenSignal, Cenoplex and Adello. Gary has a Bachelor of Science in Finance and a Master of Science in Marketing.
Cova enhances the cannabis retail experience for both consumers and dispensaries through an integrated solutions platform (POS, ERP, CRM, eCommerce, Digital Signage and Dropship). Over 19,000 retailers with complex retail environments currently run Cova’s solutions in North America. Cova’s solution built for the legal marijuana industry focuses on compliance, UI, UX, reporting and a much better dispensary experience. Cova is headquartered in Denver, CO.
NCIA Member Profile: CBCB – Cannabis Buyers’ Club Berkeley
NCIA recently had an opportunity to speak with Aundre Speciale, director of CBCB, a locally-licensed medical cannabis dispensary in Berkeley, California. CBCB is a patient-centered collective with limited membership, bringing patients access to medicine in conjunction with a natural perspective of wellness, and they offer educational seminars, support groups, and a variety of services.
Aundre Speciale of CBCB sits with the late Jack Herer
Cannabis Industry Sector:
Medical Cannabis Provider
Sustaining NCIA Member Since:
2014
How do you uniquely serve the cannabis industry?
My background is a mix of activism, politics, and industry. I have worked for cannabis reform for 25 years as an activist and lobbyist, gaining civil disobedience experience as well as political allies. Through my activism I have been able to hear directly from patients what their needs are, and I now currently operate several dispensaries throughout the state.
My model for dispensing medical cannabis has included opening community centers that provide free services to patients and the local community, working closely with community service providers and city government to create enlightened cannabis policy, and funding major cannabis research and reform projects. I currently share my operational experience by sitting on the boards of a number of licensed dispensaries throughout California. I have been inspired by and learned from the compassionate models of people like Jack Herer, Eddy Lepp, Dennis Perron, Val and Mike Corral with WAMM, Debbie Goldsberry and Don Duncan with Berkeley Patients Group (BPG), and many more.
Why should patients looking for medical cannabis services go to Cannabis Buyers’ Club Berkeley (CBCB)?
CBCB was started in 1996 by patients with a desire to help other patients. It continues in the same spirit. We have two employees who have worked at the collective for more than 15 years, and we have patients who have been with the collective since its beginning. I became director in 2007.
CBCB’s style is uniquely Berkeley, as are its compassionate patient-centered programs. We offer many support groups, educational seminars, wellness programs, and a compassion program that provides free medicine for patients, including children with epilepsy, chemo patients, veterans, and end-of-life patients. Many programs and services are run by patient volunteers, “patients helping patients.” CBCB believes in community responsibility and not only funds and supports cannabis research, campaigns, and advocacy, but also supports community events, projects, and organizations. Our patient volunteers walk the neighborhood daily picking up all trash, while an extra CBCB security guard patrols the neighborhood greeting neighbors. Our employees are compassionate and cannabis-educated and are happy to spend as much time as patients need to assist them in finding the medicine that works best. CBCB has an unusually large range of products to serve the individual needs of our patients. We offer free fruit, coffee, and tea, and hugs are handed out liberally. Our official motto is ‘choose love.’
Tell us about your past involvement in the California medical marijuana community. Where do you see the laws and culture heading in California in the future?
Aundre Speciale stands next to the Hemp Bus, 1991
My passion for cannabis advocacy began in 1989 at the height of the “just say no” era when my neighbor, Jack Herer, asked me to join him on the Hemp Bus, touring California and the country promoting hemp for fuel, food, fiber, fun, and medicine. Thus began my life-long love for and dedication to cannabis reform. I have been involved in countless cannabis campaigns and projects, including the federal hemp foods ban protests, and I was key organizer on behalf of defendants in the first federal trials of medical cannabis providers. I’m a founding member of Americans for Safe Access, where I developed its popular peer counseling program, gathered data for lawsuits protecting and expanding patientsʼ rights, and provided best-practices training for dispensary operators. I served on the board of the Marijuana Policy Project for three years, holding the vice chair position. I have been an early dispensary operator, opening dispensaries and working with several cities to craft medical cannabis regulations, including San Francisco, Sacramento, Venice Beach, Berkeley, South Lake Tahoe, and Oakland.
California has had a thriving cannabis culture for generations, and it is hard to get everyone to all agree what direction cannabis regulations should go. But I see California, along with the rest of the country and world, having access to adult-use cannabis, as well as hemp products, in the very near future. People are looking for safer, more natural products, from their medicine to their paints, and cannabis is the answer. Cannabis is the “new” in thing.
Why did you get involved in NCIA?
I love NCIA. I know NCIA’s executive director Aaron Smith from the amazing work he did with the Marijuana Policy Project (MPP), and he has a long record of successful campaigns. With NCIA, he has proven to be a strong, effective leader who has assembled an incredible staff. I appreciate the caliber and experience of NCIA speakers and members, truly the best in the industry, with whom I can truly learn and exchange ideas about timely and relevant industry information.
If you are a member of NCIA and would like to contribute to the NCIA blog, please contact Development Officer Bethany Moore by emailing bethany@thecannabisindustry.org.
NCIA Member Profile: The Om of Medicine
NCIA recently had a chat with Mark Passerini, co-founder of Om of Medicine, a provisioning center and non-profit organization in Ann Arbor, Michigan, founded to assist their members in safely and securely obtaining medical cannabis in accordance with the Michigan Marihuana Act of 2008.
Mark Passerini, co-founder of Om of Medicine
Cannabis Industry Sector:
Medical Cannabis Provider
NCIA Member Since:
2013
How do you uniquely serve the cannabis industry?
The Om of Medicine uniquely serves the cannabis industry by offering a state-of-the-art members-only facility that provides an unparalleled experience of service, amenities, and information/education pertaining to all things cannabis. Located in downtown Ann Arbor, Om is where the art is, providing a place for local artists to display and make their work available for purchase. Om is a major participant in the Michigan medical cannabis movement by following and supporting local and state political issues affecting cannabis laws, lobbying on behalf of patients, as well as educating through social media. In a broader sense, the Om of Medicine is a cannabis headquarters for the community by staying up-to-date on new research, informing patients on political issues that require action, and by offering seminars from leading experts in the field. We offer a safe, enjoyable, and inspiring experience for our patients supplemented by free comedy shows, cultivation classes, political activism workshops, guest lectures, and much much more. The Om of Medicine is deeply committed to environmental responsibility and has implemented a robust sustainability action plan for the past four years of the facility’s operation. This commitment has included dedicating funds to energy efficient investments throughout the facility, as well as investments in off-site renewable energy generation to produce the state’s first and only carbon-neutral dispensary.
Why should patients looking for medical cannabis services go to Om of Medicine?
The Om of Medicine is not just an entity, it represents an ideal. Om was founded in 2010 in order to provide the safest and most secure access to the highest quality medicinal cannabis for qualified patients. Both founders and all employees subscribe to the underlying principle of compassion coupled with excellence.
The Om of Medicine. Ann Arbor, MI
We provide the optimal visiting experience for patients that are either familiar or new to cannabis by personalizing each visit to fit the individual’s medical needs. We offer a private, one-on-one consultation that ensures each patient gets the time and attention they deserve. Our selection of medicine is unparalleled and the variety of delivery mechanisms we offer are wide-ranging and ever-changing. Our knowledgeable staff welcomes and assists patients with any questions and provides aid with the state’s patient registration process. Our commitment to individualized healing combines lab-tested therapeutic remedies with patient-based research to achieve holistic lifestyle wellness. Our member lounge is enhanced by local art. Cannabis can inspire creativity and the Om of Medicine is a testament to this. There truly is no place like Om.
What is the medical marijuana community like in Michigan?
There are more patients in Michigan than in any other state besides California. Michigan was the 13th state to pass MMJ laws and now there are 23. Every state after Michigan has implemented some type of distribution/dispensary model yet Michigan State Legislature has been slow to act on this issue which leaves many patients without a safe place to acquire their medicine. The past six years have been difficult on the community due to some unfortunate court decisions as well as reductions in protections for patients. Despite several setbacks, the medical cannabis community in Michigan is a persistent bunch and we’re confident that the more we engage in the political process and educate and advocate for transparent, reasonable and accountable laws, the quicker patients will have permanently secure and safe access to their medicine.
Where do you see it going?
Over the past couple of years, with the help of several advocacy groups and our full time lobbyist in Lansing, there has been much progress. There are two bills awaiting passage in the State Senate. The first, HB 4271, will allow a local option for licensed dispensaries. The second bill, HB 5104, will provide alternative delivery methods other than smoking. Both bills overwhelmingly passed the State House 95-14 and 100-9, respectively. We have no doubt that the State Senate and Governor will do the right thing and pass these two important pieces of legislation.
You recently began helping to form the Illinois Cannabis Industry Association (ILCIA), a state-affiliate of NCIA. What led you to step up your involvement in this way across state lines?
Our experience in Michigan has made it clear that political involvement and education early on is key to moving this issue forward. The law narrowly passed in Illinois with 78 House and Senate members voting “NO” on HB 1 with the House only passing the bill by a marginal 4 votes. There is clearly much work to be done! In terms of state population, Illinois is the second largest [medical marijuana state] after California and has a chance to lead on this issue. The state has touted its medical cannabis law as the most restrictive and closely monitored law in the country. We want to make sure that the rights of the patients are not infringed upon and that the 4-year ‘pilot program’ becomes a permanent option for the patients of Illinois. As the state’s affiliate to NCIA, ILCIA will provide a voice for businesses, patients, and other key stakeholders by advocating for laws, regulations, and public policies that foster a healthy, professional, and accountable medical cannabis industry in our state.
Why did you join NCIA?
We joined NCIA because we realize that there is power in numbers. NCIA has been the country’s only industry-led organization engaging in legislative efforts to expand and further legitimize the legal cannabis market in the United States. The members we have met through NCIA and its leadership are second to none and we are confident that they will push this issue over the finish line. The work they are doing to reform tax laws and allow access to banking is of the utmost importance for our industry to survive. It is difficult work but in order to succeed, we must work together!
If you are a member of NCIA and would like to contribute to the NCIA blog, please contact Development Officer Bethany Moore by emailing bethany@thecannabisindustry.org.
NCIA Member Profile: Canuvo Medical Cannabis Dispensary
NCIA recently had an opportunity to speak with Glenn Peterson, co-founder of Canuvo, a state-licensed medical cannabis dispensary in York County, Maine. Canuvo offers naturally grown medical cannabis in a wide selection of strains, private discreet consultations with trained staff, public workshops, and education.
Cannabis Industry Sector:
Medical Cannabis Provider
NCIA Member Since:
2013
How do you uniquely serve the cannabis industry?
I am a patient, former caregiver, and possibly the last regular person to obtain a contested state license in a highly regulated state and finance the project entirely myself. I have done every job in cultivation, manufacturing, and dispensing until I could replace myself with the best staff possible, which gives me a unique understanding of my business and this industry. I am also blessed to have my wife, sister, and daughter work by my side and watch my back at Canuvo. As a vertically integrated state, we cultivate & manufacture everything we sell. In addition to our 80-strain library, we offer concentrates, edibles, lotion, salves, capsules, and oils. We love coming up with new delivery systems!
I have been the President of the Maine Association of Dispensary Operators (MeADO) since its inception in 2012. Each year MeADO has passed multiple bills into law, both on their own and in collaboration with other stake holders. As the President of MeADO I have an active presence in our statehouse lobbying for patients and dispensaries. Personally I attend as many regional and national NCIA events as possible including Lobby Days in DC.
Why should patients looking for medical cannabis services go to Canuvo?
Selection: We have a large strain library of over 80 strains and growing, 15 to 24 of which are available each day. With so many different patient preferences, goals, and needs, it is important to us to offer an expansive, constantly rotating menu.
Education: The industry is expanding and there is always information to share regardless of how seasoned the patient is. In addition to a wide selection of dosing options, we have a loaning library and the opportunity for patients to have a one-on-one consultation. This way we can get to know our patients as individuals, offer guidance, and help them understand why and how their medication works.
Privacy: We are located in a former doctor’s office and are fortunate enough to dispense out of multiple examining rooms. This allows the patient to discuss their medical goals and concerns without being overheard.
What is the medical marijuana community like in Maine? Where do you see it going?
Maine has had a medical cannabis program since 1999. It allowed patients to grow for themselves or have a caregiver (who is limited to 5 patients) grow for you. In 2010 the dispensary model was added to increase patients’ access to safe, inspected medical cannabis. Our edibles are produced in a state-licensed kitchen, our cannabis is grown without pesticides, and we keep normal business hours. The dispensaries added a level of professionalism previously lacking in the industry.
I anticipate legislation and referendum efforts for adult use in Maine shortly. I believe all adults should have access for personal use in addition to medicinal. Though most adults can benefit, I hope to exempt qualified medical patients from the sales tax, excise tax, and driving under the influence provisions. There is no lack of cannabis in Maine. There is no need for the steep ‘sin tax‘ in Maine like Colorado and Washington to entice support. It only serves to drive the consumer to the unregulated, non-taxpaying black market. Though our program in the state of Maine is small compared to other states (only 8 licensed dispensaries), our state’s cannabis program scored #1 in the country last month by Americans For Safe Access as based on a criteria of 40 considerations.
Why did you get involved in NCIA?
Glenn Peterson, Canuvo Co-Founder
We learned of NCIA while consulting with Kayvan Khalatbari from Denver Relief Consulting. It made sense for us to join so we could meet and learn from other members, contribute to the effort, and keep our fingers on the pulse of the industry. The member contacts have been invaluable. NCIA is the spear point for the cannabis industry and efforts to bring forth meaningful needed change to our industry.
If you are a member of NCIA and would like to contribute to the NCIA blog, please contact Development Officer Bethany Moore by emailing bethany@thecannabisindustry.org.
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