The #Cannabis #Entrepreneur
Posted on January 18th, 2017
01/18/2017 @AlleyChelsea, 119 West 24th St., NY 4th floor
A panel of four talked about the current and future state of the marijuana industry
Ryan Smith @Leaflink – (https://www.leaflink.com/) Join More Than 750 Dispensaries & 75 Leading Brands on the Platform for Orders, Sales & Relationship Management. The need to find the right people especially to deal with the complexity, regulatory, compliance that are not present in many other industries. This is especially true of technology. They scale across states by buying supplies within state, (product cannot go across state lines) and partner with other business: but better business are structured as franchisees so they are separate across states. They are a technology company, so they don’t touch the product. Jeff Sessions will probably focus on immigration, not drugs.
Melissa Meyer @Women Grow (http://womengrow.com/) leadership summit – connect patients with data. Uses Angel for recruiting.
Morgan Paxhia @ Poseidon asset management (http://poseidonassetmanagement.com/). Operational issues persiste: 3 years ago the industry was very undercapitalized. It’s still undercapitalized, but less so (Still low salaries). Some generic software packages are used, but customized packages need to be developed. In California: Small farmers create coops, but taxes are still too high, so the black market is still large. Marijuana policy program – need to figure out how to work with the administration.
Lauren Rudick @Hiller(http://www.hillerpc.com/) The first question is is it legal? Washington allows lawyers to own businesses. Seed-to-sale tracking needed. Washington & Massachusetts – easy to qualifying for medical. Colorado, Oregon – easy for business to operate: stable. For profitability Puerto Rico might be the best state since there is no federal tax. Hippa compliant for medical sales.