November 8, 2023 • 34 mins
Ever wondered why some cannabis dispensaries succeed while others falter? Together, we're going to debunk the mysteries and complexities of running a successful retail cannabis venture. We delve into the nitty-gritty details that make or break a dispensary - from understanding the unique desires of your customer base to locating your business in an area that attracts traffic and abides by local zoning laws. We'll give you a front-row seat into creating a unique selling proposition that not only aligns with your brand but also appeals to your customers.
We don't stop there. This episode also covers how to build a competent team that offers top-notch customer service. We share the secrets of leveraging social media platforms, the role of community engagement, and the importance of organizing educational events for the industry. Pay attention to the specific advertising rules in your state and local area as we guide you on how to develop a well-designed website and use SEO effectively. Tune in as we offer you insightful tips on how to set up your dispensary for success and ensure continual growth.
Thank you for tuning in to 'Cann Strategy: Elevating Your Cannabis Business Venture'. Our mission is to empower cannabis investors, business owners, and entrepreneurs with rarely shared insider knowledge to navigate the fast-growth cannabis industry.
If you found value in this episode, please leave a review on your favorite podcast platform or share it with a friend. It makes a world of difference.
Also, don't forget to check out our website at www.cannstrategy.com for even more resources and insights into the cannabis business world. We offer a range of consulting services to help you navigate the complex cannabis industry and turn your cannabis business dream into a reality, no matter what stage of the game you're in.
Keep up with 'Cann Strategy' by following us on LinkedIn and Instagram
Have a question or topic you want us to discuss? Email us at info@cannstrategy.com
And finally, if you haven't already, hit that subscribe button so you won't miss our next episode. See you next time on 'Weed Works', and remember: knowledge isn't just power - it's profit!"
Prefer reading? To reference any of our episodes in written format, visit the Cann Strategy blog
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to another episode of CanStrategy cannabis
business masterclass.
Today we're diving into anextremely important topic for
aspiring entrepreneurs andseasoned business owners alike.
We're talking about how tobuild a successful retail
cannabis business.
Yes, it's dispensary 101.
You might be wondering why arewe circling back to the basics
(00:24):
of dispensary success?
Well, here's the thing.
Over the years, we've watchedcountless enthusiastic souls
dive headfirst into thedispensary scene, oozing
confidence, thinking it's astraightforward game.
But let me tell you there's somuch more under the surface.
It's not just about opening upshop and selling some cannabis.
(00:48):
There are layers, intricaciesand a ton of behind the scenes
work.
The world of dispensaryoperation it's vast and it's
complex, and people don't giveit enough credit for that.
So we're here to break it downpiece by piece, ensuring that
everyone's got a strongfoundation to stand on.
(01:09):
Trust me, understanding thebasics, it's a game changer.
First things first, you need tounderstand your market, knowing
who your customers are, whatthey want and how you can
uniquely meet their needs asparamount.
You see, in the cannabisindustry, your customers could
range from medical patients torecreational users, to brand new
(01:29):
users, each with differentpurchasing habits, product
preferences, levels ofexperience.
You need to cater to thesedifferences With a well-curated
product range, knowledgeablestaff and excellent customer
service.
The cannabis business is notjust about selling a product.
It's about creating a memorableexperience so your customers
(01:50):
will want to come back to yourstore every time they shop, and
helping customers safely andconfidently navigate the world
of cannabis product types, thclevels and terpene profiles,
without making it too confusing.
Because here's the thingcannabis, different from other
industries, has a ton ofeducation to do in order to get
(02:11):
to the point where we have anormal customer business
relationship, with customers whocome into the store knowing
what they want, confidently, andknowing how to navigate the
products that are available.
All right, let's dive into afundamental aspect of any
successful dispensaryunderstanding your customer.
Here's the fact a dispensary isnot just about housing a
(02:33):
variety of strengths andproducts.
It's about connecting withtheir customers, understanding
their desires and ensuring thatthey leave your store feeling
satisfied and valued.
So how do you get there?
A lot of dispensaries haven't,even some of the largest, most
well-known, most well-funded inthe country.
Firstly, let's talk aboutdefining your customer.
(02:54):
You need to dig deep intodemographic data, customer
feedback and buying habits.
Are they medicinal usersseeking relief or recreational
users seeking new experiences.
Are they connoisseurs or arethey newbies to the cannabis
world?
Understanding here serving asthe first step to crafting a
strategy that effectively catersto their needs?
(03:17):
One massive mistake that ismade across the board is
assuming that most consumersthat come into a dispensary will
be experienced consumers andtherefore selecting products
based on what an experiencedconsumer would need and not
having enough products for thosewho are new to the scene.
(03:37):
There's gotta be a balance,actionable.
Tip number one customer surveysand feedback.
Regularly ask for feedback fromyour customers, and I mean
really ask.
Encourage your staff to startthe conversations, engage with
customers and glean as muchinformation as possible about
their wants and needs.
(03:58):
This can also be done throughonline surveys, social media
interactions and customer reviewanalysis.
It might take some time, butthe return on that time
investment will be beyond worthit.
Now, once you have a clearpicture of your customer, let's
talk about understanding theirneeds.
This requires ongoing researchand analysis, but also a certain
(04:19):
level of intuition and empathy.
Are your customers seekingeducation about different
strengths and products?
Are they looking for quick andefficient service?
Do they want a more relaxedconsultative experience?
These are things that willdiffer for every dispensary,
every state, every locationwithin a state, based on what
your surrounding market is.
(04:40):
Who's visiting?
Is it tourist?
Is it locals?
Are they high income, lowincome, old, young.
These are the specific thingsthat you need to understand
through your analysis.
Actionable tip two marketableresearch and competitor analysis
.
Keep your finger on the pulseof the industry.
Stay updated on canvas trends,popular products and competitive
(05:03):
offerings.
Understand what others in yourspace, especially in your
specific market, are doing anddetermine how you can do it
better or differently.
For any company with multipledispensary locations, this will
differ based on each location,especially based on each state,
so you cannot take anunderstanding from one of your
(05:23):
stores and blanketly apply thatto all of your stores.
Customize it for every regionin which you operate and you'll
get the best results.
Lastly, how can your dispensaryuniquely meet the needs of your
customers once you figure outwhat those are?
Or perhaps it's your commitmentto sourcing only the absolute
best products or your expertskill for your location to
(05:47):
quickly process transactions andget customers out of there,
just as a usual retail locationdoes for them on a daily basis?
Actionable tip number threeunique selling proposition.
Identify what makes yourdispensary unique and make it
your cornerstone.
This could be a loyalty program, educational workshops or
(06:09):
exclusive products.
Whatever it is, make sure italigns with your brand and
appeals to your specificcustomer base.
Having a generalized approachis a mistake that a lot of
dispensaries make, and becausethey're trying to target
everybody, they wind uptargeting nobody and therefore
(06:29):
don't have a very sticky storethat keeps their customers
coming back.
In the end, it's all aboutcreating a customer-focused
experience.
The more you know yourcustomers and align your
dispensary's offerings withtheir needs, the more likely you
are to build loyalrelationships and a thriving
business Next up to dispensarysuccess compliance.
(06:53):
Compliance is king, complianceis queen.
Compliance is the whole kingdom.
The cannabis industry isheavily regulated, and these
regulations vary by state andeven by municipality, so you've
got to know the laws and abideby them.
This means staying up to dateon licensing requirements,
packaging and labeling rules,advertising restrictions and
(07:16):
even more than that.
Remember that non-complianceisn't just costly.
It can shut your business down.
So, when in doubt, consult withlegal experts or consultants to
ensure you're on the righttrack.
Actionable tip 1, engage acannabis specific lawyer.
Having a legal advisor whospecializes in cannabis law is
(07:37):
an invaluable asset.
They can guide you through thelegal labyrinth, keeping up with
your business and ensuring it'scompliant and protected from
potentially costly penalties,but you need to take an active
role in understanding these lawsas well.
Actionable tip 2, utilizeregulatory websites to
understand the laws andregulations as they are today
(07:59):
and as they're changing overtime.
Many state and localgovernments have websites
dedicated to their cannabisregulations, which are updated
as laws change.
Bookmark these sites and makeit a regular practice to stay
informed.
Absolutely, make sure to signup for the newsletters which
just about every governmentagency has, and they will keep
(08:20):
you informed as to when they'rehaving public meetings, when
they're considering changes inregulations and when changes in
regulations are actually made.
Actionable tip 3, join industryassociations.
Organizations like the NationalCannabis Industry Association
or your local cannabis allianceoffer resources and updates on
changing laws.
(08:40):
They often host networkingevents and workshops where you
can learn from others in theindustry.
Lastly, actionable tip number 4,staff training.
Ensure your staff is up to dateon compliance matters.
Regular training sessions canequip your team to understand
and respect the laws andregulations to keep your
dispensary in business.
(09:01):
This is a huge deal because,especially for dispensaries,
your employees are the frontline of your company.
They interact with customers,they make decisions and take
actions based on your inventory,on products, on cash handling,
and these are things that canget your business in trouble or
(09:23):
keep it afloat for the long run.
So compliance training isabsolute key, and a trick to
doing really great compliancetraining is figuring out how to
take the regulations and to putthem into layman's terms so that
the everyday person canunderstand what they mean, so
(09:43):
that your staff can understandwhat they mean.
Once you do that, tieeverything that you're teaching
your staff about compliance withthe regulations to the rules
that they actually fill, so theyknow the why behind everything
that they do in their job.
Alright, let's move on to theimportance of location for
(10:04):
dispensary success.
You know the old adage location, location, location.
It rings true in cannabisbusiness as well.
You want a location that'seasily accessible, in a safe
neighborhood and where you canattract the right clientele.
And don't forget about localzoning laws.
You'll need to ensure yourdispensary complies with these
(10:26):
two.
First, think about accessibility.
Is the location easy to find?
Is it convenient for foottraffic?
Is there a bus or train stationnearby?
Or is there ample parking forcars?
Once it's tooled, fordetermining the traffic level of
a location is Placer AI, aweb-based tool that provides
businesses with locationanalytics and foot traffic data.
(10:47):
It can give a detailed insightinto the visitor behavior, dwell
time and other importantmetrics that can help in
determining the best locationfor a cannabis retail outlet.
It's also possible to consultwith local city planning or
transportation departments.
They often have data on footand vehicle traffic counts for
(11:09):
various areas and it's part oftheir role to monitor and manage
transportation within the city.
Your location should be easy toreach for your clientele and
offer a welcoming frontage.
Be beautiful.
Now onto the safety of theneighborhood.
Evaluate neighborhood safetyand remember that a safe
(11:29):
neighborhood is a huge draw forcustomers.
Use local police reports orcommunity safety apps to assess
the safety of your potentiallocation.
If you're knowingly selectingan unsafe area for your
dispensary, then make sure totake that into account when
you're developing your securityand equipment plan and protocol.
(11:49):
Cannabis businesses alreadyrequire a hefty number of
security measures, and adispensary in an unsafe area
will need an even more robustapproach.
Next, know your clientele andwhere to find them.
Understand the demographic thatyour dispensary aims to serve
and evaluate location optionsbased on their proximity to your
(12:10):
target clientele.
Use census data, local marketresearch and area specific
reports to learn more about thecommunity surrounding your
potential locations.
Look for information pertainingto population size, age and
income level.
Also, take into account thedemographic of visitors to the
area, especially if you're in acity that's known for tourism,
(12:32):
as these tourists could make upa significant portion of your
sales.
And, last but not least, zoninglaws.
Understanding and navigatinglocal zoning laws can make or
break your dispensary business.
It's more than just aboutcompliance.
It's about finding a locationthat fits not just the legal
parameters, but also yourbusiness needs and operations.
(12:53):
Many times, the stateregulations will not have a
specific zoning listed for yourzoning requirement, but the
jurisdiction that you decide tooperate within will have their
own zoning laws, so that isimportant to figure out really
before you even look into yourproperties.
Okay, so cannabis dispensaries.
These laws often dictate howclose a dispensary can be to
(13:15):
schools, daycare centers, publicgrounds and places of worship,
but they can also include otherrestrictions, such as distance
requirements from rehab centers,other dispensaries or even
specific commercial areas.
To understand the local zoninglaws, the first step should be
your city council's planning orzoning department.
They can provide maps and otherresources that outline where
(13:39):
dispensaries are allowed In manyjurisdictions.
This information's readilyavailable online.
It might also be beneficial toengage a real estate attorney,
specifically, who specializes incannabis business, or a
commercial real estate brokerwith experience in the cannabis
industry.
They can provide guidance onhow to interpret zoning laws,
potential pitfalls to avoid andperhaps even insights into how
(14:03):
these laws might change in thefuture.
Another core element todispensary success, no matter
where your business is operating, is who you hire and how well
you train them.
Your team can make or breakyour dispensary business.
A knowledgeable, friendly staffis key to building strong
relationships with yourcustomers.
Your team should not only knowabout the various strains and
(14:25):
products, but they should alsobe equipped to educate customers
, guide them to suitableproducts and create an inviting
atmosphere.
A knowledgeable and friendlyteam can make a huge difference
to your dispensary success.
Let's explore how you can buildsuch a team.
First, let's talk aboutrecruiting.
You want individuals who arepassionate about the cannabis
(14:47):
industry and committed toserving your customers to
attract this type of talent.
Start by crafting a compellingjob description.
Highlight the opportunity towork in a rapidly growing
industry with plenty of chancesfor growth and development.
Utilize platforms like LinkedIn, indeed, or specialize cannabis
job boards like Thanks and CanaJobs, also cannabis specific
(15:08):
hiring and recruitment firmsthat will help you find the
absolute best candidates, so youor your management team don't
have to navigate hundreds ofresumes.
Bring interviews.
Look for candidates who notonly have a good understanding
of cannabis, but also those whoexhibit excellent customer
service skills.
I like to look for individualswho have experience in high
(15:31):
volume retail and food service.
So, for instance, for a budtender, I would love someone who
has a lot of experience at like, a Starbucks that saw hundreds
of people a day, dealt with alot of cash and how to do a lot
of transactions.
In the end, remember thatcannabis knowledge can be taught
, but attitude and personalityare inherent.
(15:52):
Choose those who would fit inwith your company culture.
Many businesses will hire basedon whether someone is a
cannabis consumer or how muchthey already know about cannabis
itself, but what really mattersis that they're willing to
learn more, because all of thatreally can be taught, and just
because they're experienced withthe product does not mean that
(16:15):
they'll be a great employee, andit does not necessarily signify
their ability to do what youneed them to do, which is to
maintain compliance within yourstore and to build relationships
with customers and to increaseyour sales.
Once you've hired your team,training becomes the next
crucial step.
(16:35):
Comprehensive training shouldcover a variety of topics, from
the specifics of your productofferings to the state's
compliance regulations.
As we discussed earlier,product training is key because
your team should be able toanswer any questions a customer
might have about the products inyour store, use resources such
(16:55):
as product brochures, supplierpresentations, or even bring in
experts for more in-depthsessions.
Because products change fromcultivators and producers over
time, it's invaluable to havethem come in and train your
staff so your staff canknowledgeably discuss their
products, get a sell-throughrate on their products and
(17:17):
therefore benefit both you andyour revenue bottom line for
your company and the bottom linefor the cultivators and
producers.
Remember, laws and regulationsrelated to cannabis are subject
to change.
As a result, part of yourtraining should include periodic
updates on these changes.
Some states require cannabisbusinesses to provide ongoing
(17:39):
compliance training to theiremployees, so it'll say a
required 4 hours every 6 monthsor required 8 hours every 6
months.
Take advantage of thoseregulations and ensure that your
team stays compliant andinformed.
In some states as well, therewill be external training
companies that are certified bythe state to provide the
(18:01):
training that the state wants tosee your employees, and
sometimes the ownership team,have, and it's not just about
product knowledge andregulations.
Train your staff on customerservice excellence.
Educate them about how tohandle difficult situations, the
importance of treating everycustomer with respect and
patience, and how to create awelcoming atmosphere.
(18:22):
These things are skills.
Finally, keep your teammotivated, provide growth
opportunities and, mostimportantly, create a workplace
where they feel valued andappreciated.
What we've seen in terms ofcustomer service and actual
sales skills is a lot ofdispensaries will believe that
(18:45):
just because they hired nicepeople, that sales skills and
customer service will comenaturally.
It does to some extent, butwhen you do the training, you
ensure that you have at least aminimum base standard of service
from every employee in yourstore, and then you'll, of
course, have the ones thatexceptionally shine In terms of
(19:05):
valuing and appreciating yourdispensary employees.
A lot of stores, managers andowners don't want to put in the
investment to have a reward, butyou have to remember that some
employees will sell a milliondollars potentially of products
for you within a given year.
Another might sell a hundredthousand dollars worth of
(19:26):
products within a given year.
That million dollar employeesshould be rewarded for that, and
if you have something like anApple watch, that's a reward for
that.
The investment in that is soworth it to thank them for the
revenue that they generated foryour business.
An argument that a lot ofowners have is that that
employee is supposed to do that,and that's true.
(19:48):
That employee is supposed to atthe least do sales.
But when they excel, when theyexceed expectations and they go
above and beyond, well, thatmakes you very lucky to have
found a valuable person for yourbusiness and you should thank
them for that.
Basically, in the end, yourstaff is the face of your
business and best time andresources into their recruitment
(20:11):
, training and retention.
We have another episode that'sabout employee retention and
it'll pay dividends for yourdispensary success.
All right, we are on to ourfinal two.
Next up in developing asuccessful dispensary is
effective branding and marketing.
They're vital in distinguishingyour dispensary from the
competition.
Developing a strong brandidentity, creating an attractive
(20:35):
store environment and deployingeffective marketing strategies
will help draw in customers andkeep them coming back.
But remember, marketing and thecannabis industry comes with
its own set of rules, so be sureto understand what's allowed
and what's not Certainlymarketing in the cannabis
industry.
It's not straightforward.
It comes with a myriad ofregulations and restrictions
(20:57):
that can vary significantly fromstate to state, which becomes a
problem if you're a multi-stateoperator, and there's even
municipality to municipalitydifferences if you're within one
state and have multiplelocations.
It's also an industry not fullyembraced by some traditional
media outlets due to its federalstatus, so let's talk about how
you can navigate that trickylandscape effectively.
(21:21):
One of the biggest challengesfor cannabis dispensaries is
that they're not allowed toadvertise on many major digital
platforms like Facebook, googleand Instagram due to their
policies on promoting quotedrugs.
This can seem like a hugeroadblock.
I actually have to mention thatTikTok is the worst at this.
They will take a video down soquickly.
Given that these platforms areoften the backbone of a
(21:44):
successful digital marketingstrategy, especially in this age
, this digital age, what do youdo when these platforms will not
allow your business?
There's still plenty of ways toget your brand out there.
The first step, of course, is tofully understand the specific
advertising rules in your stateand local area.
For example, some statesprohibit advertising that
(22:07):
targets individuals under 21.
I would argue most statesprohibit that advertising and
they restrict the use of certainimages and language or require
specific public health warnings.
It's pretty normal for statesto limit the use of an image of
the actual cannabis to limit theimage of consumers consuming
(22:28):
cannabis.
It's actually having peopleactively consuming the products
because they consider that to bepromoting consumption.
It's pretty normal to have astate that says, oh, you can't
have anything that attractschildren, no cartoony and type
looking stuff in that.
But then there's other statesthat go even further than that.
(22:50):
For instance, florida doesn'tallow really bright colors on
packaging.
You see, there is black andwhite and their ability to
really brand is extremelylimited.
Beyond that, there's otheroptions to consider, such as SEO
that drives organic traffic toyour website.
(23:11):
This requires creating awell-designed, mobile-friendly
website that's optimized forsearch engines, regularly
publish quality content likeblog posts or educational
articles that target yourcustomer and that they would
find useful.
Videos now also are reallyeffective, and you can get away
(23:32):
with having some videos in Reelson Instagram, on Shorts, on
YouTube, on some TikToks, if youcan be careful about the way
that you word things and whatyou show on the videos.
So there's got to be somestrategy to it.
A lot of businesses don'trealize how much strategy there
is to it and they'll give it tosomeone who doesn't really have
(23:52):
any expertise or finesse.
And to get real traction, youneed someone who understands
what they're doing and who'sbeing strategic about the way
they're handling communicatingwith the public, about your
brand, about your business.
So you do want to invest insomeone who already knows these
things, or invest in trainingsomeone already on your team to
(24:14):
know these things.
A business may not be able toadvertise on some social media
platforms, but there can stillbe a presence and that's really
valuable.
Just be careful about stayingwithin the community guidelines,
making sure that you explicitlysay that your content is for 21
and over people and never focuson selling your products,
(24:36):
putting sales, putting dollarnumbers.
Any of that can usually triggeryour account to get shut down.
So you might talk about whatproducts you have in store, you
might talk about a deal a bit,but never make it seem like you
are encouraging really anybodyto come in.
But everything is more soinformative.
It's a tricky process.
(24:57):
There's an art to it, but youfind the right person.
You can have a lot of successwith your social media presence.
Also, consider using moretraditional marketing channels,
so, like print advertising andlocal newspapers or magazines,
radio ads, billboards can stillbe effective.
You see them everywhere,especially in local markets.
Email marketing is anotherpowerful tool.
(25:19):
People think it might be dead,but it turns out to be still
pretty effective, especially ifpeople want the product that
you're reaching out to themabout.
You do have to have an opt-in,so your email marketing tool
will be to anyone who's eithersigned up to give you their
email online or given it to youin person in store and agreed to
(25:39):
have you email them.
So collect emails from yourcustomers and keep them updated
about new products, specialpromotions or educational events
.
Always ensure that you'refollowing all applicable privacy
laws when doing so, so youmight not want to personalize it
or mention anything thatthey've purchased in the past,
but just tell them what isavailable now.
(26:00):
You can even line that up withthings that they have purchased
in the past.
Just don't mention that that'swhat it's based on.
In order for you to do that,you would have to be tracking
data effectively enough toreally pinpoint what customers
like which products and thensort them into different contact
lists, so you can set eachcontact list to a different deal
(26:23):
.
Again, I have to mention.
Whether or not you're able todo.
Each of these marketingbranding strategies has to do
with the regulations in yourstate, so some of these would be
explicitly off the table in astate and some states would
allow you to do every single oneof them.
Coming to the end here, this isdefinitely not all the tips to
(26:45):
success in a dispensary, butwe're at least covering the
basics and we're going to wrapup with never underestimating
the power of communityengagement.
Sponsoring local events orhosting educational workshops
can do wonders for your brandrecognition and reputation.
Navigating the marketinglandscape for cannabis
dispensaries can be sochallenging, as we just
(27:06):
discussed.
Both creativity, knowledge ofthe regulations and a
willingness to try differentstrategies, such as reaching out
to your community.
It's entirely possible to builda strong brand and attract a
loyal customer base.
As we discussed earlier, verymuch earlier in this episode,
education is a massive focus forthis industry because consumers
(27:30):
have such little knowledgeabout this product that we need
to get them to a base level ofunderstanding.
For that reason, while youwould think, most companies,
most businesses outside ofcannabis don't tend to hold
educational seminars about theirproducts, unless it's maybe a
total lines that has a sommelierthat's doing some special
(27:51):
presentation, because we have somuch education that needs to
get out to consumers and to thepublic for there to be a better
understanding of the product andits consumer safety, but also
just the product, how it works,how you select it, that kind of
thing.
So people are interested inthese educational events and
(28:11):
they provide a lot of value toyou as a company, but also to
the industry at large.
All right, that brings us tothe end of this insightful
journey through the essentialsof setting up a successful
dispensary from understandingyour customers and their unique
needs, staying in line with everevolving regulations, selecting
the ideal location, building aknowledgeable team, all the way
(28:33):
to executing a compliant andimpactful marketing strategy.
We have covered a lot.
We haven't covered it all, sowe'll probably cover more in
another episode.
I'd like to note that, whilecompliance was listed as one of
the things that you can use tomake your dispensary successful,
you probably noticed that forevery single topic, we mentioned
(28:58):
regulations and compliance withthose regulations, somehow
tying into that topic.
The truth is that compliance isthe foundation of your cannabis
business of any kind.
Without that compliance, youare operating a house of cards.
Without that compliance, youhave a business completely at
(29:19):
risk of being fined, suspended,shut down.
There could be some serioustrouble without compliance with
the regulations.
So, as you go step by step,from the absolute very beginning
, even if you've never had acannabis business before you're
starting your application, havecompliance in mind and have a
(29:39):
wildly compliant applicationsubmission.
If you're already operatingyour cannabis business, then
just ensuring that all of yourcompliance is in place before
you use any of these tools inorder to expand your business or
to start to grow it, and focusmore on the things that can help
you be more successful.
Number one thing that helps yousucceed is having a baseline of
(30:02):
compliance.
Remember that operating acannabis business involves many
moving parts and success hingeson having a deep understanding
of the industry and awillingness to adopt as it
evolves.
But with passion, perseveranceand the right strategies and the
right people, it's entirelypossible to create a thriving
(30:25):
cannabis retail business thatserves your community and
contributes to the industry'sgrowing success story.
I hope you have found thisepisode of Dispensary 101
valuable.
If you did, please take amoment to like this episode.
Subscribe to our podcast CanStrategy Masterclass in Cannabis
Business.
We're always striving to bringyou the most relevant,
(30:47):
actionable insights in thecannabis industry to help you
elevate your cannabis venture.
In our upcoming episodes, we'lldive deeper into other aspects
of the cannabis industry thatare vital for your success, and
we'll dive deeper into vitalsuccess tips for actual
operators in the day to day andfor operators who have an
(31:09):
interest in scaling theircompany or simply improving the
way that their current businessis operating.
So make sure you stay tuned and, as always, we encourage you to
share this podcast with otherbudding entrepreneurs and
scaling businesses in thecannabis space.
Thank you so much.
Welcome to another episode of CanStrategy cannabis
business masterclass.
Today we're diving into anextremely important topic for
aspiring entrepreneurs andseasoned business owners alike.
We're talking about how tobuild a successful retail
cannabis business.
Yes, it's dispensary 101.
You might be wondering why arewe circling back to the basics
(00:24):
of dispensary success?
Well, here's the thing.
Over the years, we've watchedcountless enthusiastic souls
dive headfirst into thedispensary scene, oozing
confidence, thinking it's astraightforward game.
But let me tell you there's somuch more under the surface.
It's not just about opening upshop and selling some cannabis.
(00:48):
There are layers, intricaciesand a ton of behind the scenes
work.
The world of dispensaryoperation it's vast and it's
complex, and people don't giveit enough credit for that.
So we're here to break it downpiece by piece, ensuring that
everyone's got a strongfoundation to stand on.
(01:09):
Trust me, understanding thebasics, it's a game changer.
First things first, you need tounderstand your market, knowing
who your customers are, whatthey want and how you can
uniquely meet their needs asparamount.
You see, in the cannabisindustry, your customers could
range from medical patients torecreational users, to brand new
(01:29):
users, each with differentpurchasing habits, product
preferences, levels ofexperience.
You need to cater to thesedifferences With a well-curated
product range, knowledgeablestaff and excellent customer
service.
The cannabis business is notjust about selling a product.
It's about creating a memorableexperience so your customers
(01:50):
will want to come back to yourstore every time they shop, and
helping customers safely andconfidently navigate the world
of cannabis product types, thclevels and terpene profiles,
without making it too confusing.
Because here's the thingcannabis, different from other
industries, has a ton ofeducation to do in order to get
(02:11):
to the point where we have anormal customer business
relationship, with customers whocome into the store knowing
what they want, confidently, andknowing how to navigate the
products that are available.
All right, let's dive into afundamental aspect of any
successful dispensaryunderstanding your customer.
Here's the fact a dispensary isnot just about housing a
(02:33):
variety of strengths andproducts.
It's about connecting withtheir customers, understanding
their desires and ensuring thatthey leave your store feeling
satisfied and valued.
So how do you get there?
A lot of dispensaries haven't,even some of the largest, most
well-known, most well-funded inthe country.
Firstly, let's talk aboutdefining your customer.
(02:54):
You need to dig deep intodemographic data, customer
feedback and buying habits.
Are they medicinal usersseeking relief or recreational
users seeking new experiences.
Are they connoisseurs or arethey newbies to the cannabis
world?
Understanding here serving asthe first step to crafting a
strategy that effectively catersto their needs?
(03:17):
One massive mistake that ismade across the board is
assuming that most consumersthat come into a dispensary will
be experienced consumers andtherefore selecting products
based on what an experiencedconsumer would need and not
having enough products for thosewho are new to the scene.
(03:37):
There's gotta be a balance,actionable.
Tip number one customer surveysand feedback.
Regularly ask for feedback fromyour customers, and I mean
really ask.
Encourage your staff to startthe conversations, engage with
customers and glean as muchinformation as possible about
their wants and needs.
(03:58):
This can also be done throughonline surveys, social media
interactions and customer reviewanalysis.
It might take some time, butthe return on that time
investment will be beyond worthit.
Now, once you have a clearpicture of your customer, let's
talk about understanding theirneeds.
This requires ongoing researchand analysis, but also a certain
(04:19):
level of intuition and empathy.
Are your customers seekingeducation about different
strengths and products?
Are they looking for quick andefficient service?
Do they want a more relaxedconsultative experience?
These are things that willdiffer for every dispensary,
every state, every locationwithin a state, based on what
your surrounding market is.
(04:40):
Who's visiting?
Is it tourist?
Is it locals?
Are they high income, lowincome, old, young.
These are the specific thingsthat you need to understand
through your analysis.
Actionable tip two marketableresearch and competitor analysis
.
Keep your finger on the pulseof the industry.
Stay updated on canvas trends,popular products and competitive
(05:03):
offerings.
Understand what others in yourspace, especially in your
specific market, are doing anddetermine how you can do it
better or differently.
For any company with multipledispensary locations, this will
differ based on each location,especially based on each state,
so you cannot take anunderstanding from one of your
(05:23):
stores and blanketly apply thatto all of your stores.
Customize it for every regionin which you operate and you'll
get the best results.
Lastly, how can your dispensaryuniquely meet the needs of your
customers once you figure outwhat those are?
Or perhaps it's your commitmentto sourcing only the absolute
best products or your expertskill for your location to
(05:47):
quickly process transactions andget customers out of there,
just as a usual retail locationdoes for them on a daily basis?
Actionable tip number threeunique selling proposition.
Identify what makes yourdispensary unique and make it
your cornerstone.
This could be a loyalty program, educational workshops or
(06:09):
exclusive products.
Whatever it is, make sure italigns with your brand and
appeals to your specificcustomer base.
Having a generalized approachis a mistake that a lot of
dispensaries make, and becausethey're trying to target
everybody, they wind uptargeting nobody and therefore
(06:29):
don't have a very sticky storethat keeps their customers
coming back.
In the end, it's all aboutcreating a customer-focused
experience.
The more you know yourcustomers and align your
dispensary's offerings withtheir needs, the more likely you
are to build loyalrelationships and a thriving
business Next up to dispensarysuccess compliance.
(06:53):
Compliance is king, complianceis queen.
Compliance is the whole kingdom.
The cannabis industry isheavily regulated, and these
regulations vary by state andeven by municipality, so you've
got to know the laws and abideby them.
This means staying up to dateon licensing requirements,
packaging and labeling rules,advertising restrictions and
(07:16):
even more than that.
Remember that non-complianceisn't just costly.
It can shut your business down.
So, when in doubt, consult withlegal experts or consultants to
ensure you're on the righttrack.
Actionable tip 1, engage acannabis specific lawyer.
Having a legal advisor whospecializes in cannabis law is
(07:37):
an invaluable asset.
They can guide you through thelegal labyrinth, keeping up with
your business and ensuring it'scompliant and protected from
potentially costly penalties,but you need to take an active
role in understanding these lawsas well.
Actionable tip 2, utilizeregulatory websites to
understand the laws andregulations as they are today
(07:59):
and as they're changing overtime.
Many state and localgovernments have websites
dedicated to their cannabisregulations, which are updated
as laws change.
Bookmark these sites and makeit a regular practice to stay
informed.
Absolutely, make sure to signup for the newsletters which
just about every governmentagency has, and they will keep
(08:20):
you informed as to when they'rehaving public meetings, when
they're considering changes inregulations and when changes in
regulations are actually made.
Actionable tip 3, join industryassociations.
Organizations like the NationalCannabis Industry Association
or your local cannabis allianceoffer resources and updates on
changing laws.
(08:40):
They often host networkingevents and workshops where you
can learn from others in theindustry.
Lastly, actionable tip number 4,staff training.
Ensure your staff is up to dateon compliance matters.
Regular training sessions canequip your team to understand
and respect the laws andregulations to keep your
dispensary in business.
(09:01):
This is a huge deal because,especially for dispensaries,
your employees are the frontline of your company.
They interact with customers,they make decisions and take
actions based on your inventory,on products, on cash handling,
and these are things that canget your business in trouble or
(09:23):
keep it afloat for the long run.
So compliance training isabsolute key, and a trick to
doing really great compliancetraining is figuring out how to
take the regulations and to putthem into layman's terms so that
the everyday person canunderstand what they mean, so
(09:43):
that your staff can understandwhat they mean.
Once you do that, tieeverything that you're teaching
your staff about compliance withthe regulations to the rules
that they actually fill, so theyknow the why behind everything
that they do in their job.
Alright, let's move on to theimportance of location for
(10:04):
dispensary success.
You know the old adage location, location, location.
It rings true in cannabisbusiness as well.
You want a location that'seasily accessible, in a safe
neighborhood and where you canattract the right clientele.
And don't forget about localzoning laws.
You'll need to ensure yourdispensary complies with these
(10:26):
two.
First, think about accessibility.
Is the location easy to find?
Is it convenient for foottraffic?
Is there a bus or train stationnearby?
Or is there ample parking forcars?
Once it's tooled, fordetermining the traffic level of
a location is Placer AI, aweb-based tool that provides
businesses with locationanalytics and foot traffic data.
(10:47):
It can give a detailed insightinto the visitor behavior, dwell
time and other importantmetrics that can help in
determining the best locationfor a cannabis retail outlet.
It's also possible to consultwith local city planning or
transportation departments.
They often have data on footand vehicle traffic counts for
(11:09):
various areas and it's part oftheir role to monitor and manage
transportation within the city.
Your location should be easy toreach for your clientele and
offer a welcoming frontage.
Be beautiful.
Now onto the safety of theneighborhood.
Evaluate neighborhood safetyand remember that a safe
(11:29):
neighborhood is a huge draw forcustomers.
Use local police reports orcommunity safety apps to assess
the safety of your potentiallocation.
If you're knowingly selectingan unsafe area for your
dispensary, then make sure totake that into account when
you're developing your securityand equipment plan and protocol.
(11:49):
Cannabis businesses alreadyrequire a hefty number of
security measures, and adispensary in an unsafe area
will need an even more robustapproach.
Next, know your clientele andwhere to find them.
Understand the demographic thatyour dispensary aims to serve
and evaluate location optionsbased on their proximity to your
(12:10):
target clientele.
Use census data, local marketresearch and area specific
reports to learn more about thecommunity surrounding your
potential locations.
Look for information pertainingto population size, age and
income level.
Also, take into account thedemographic of visitors to the
area, especially if you're in acity that's known for tourism,
(12:32):
as these tourists could make upa significant portion of your
sales.
And, last but not least, zoninglaws.
Understanding and navigatinglocal zoning laws can make or
break your dispensary business.
It's more than just aboutcompliance.
It's about finding a locationthat fits not just the legal
parameters, but also yourbusiness needs and operations.
(12:53):
Many times, the stateregulations will not have a
specific zoning listed for yourzoning requirement, but the
jurisdiction that you decide tooperate within will have their
own zoning laws, so that isimportant to figure out really
before you even look into yourproperties.
Okay, so cannabis dispensaries.
These laws often dictate howclose a dispensary can be to
(13:15):
schools, daycare centers, publicgrounds and places of worship,
but they can also include otherrestrictions, such as distance
requirements from rehab centers,other dispensaries or even
specific commercial areas.
To understand the local zoninglaws, the first step should be
your city council's planning orzoning department.
They can provide maps and otherresources that outline where
(13:39):
dispensaries are allowed In manyjurisdictions.
This information's readilyavailable online.
It might also be beneficial toengage a real estate attorney,
specifically, who specializes incannabis business, or a
commercial real estate brokerwith experience in the cannabis
industry.
They can provide guidance onhow to interpret zoning laws,
potential pitfalls to avoid andperhaps even insights into how
(14:03):
these laws might change in thefuture.
Another core element todispensary success, no matter
where your business is operating, is who you hire and how well
you train them.
Your team can make or breakyour dispensary business.
A knowledgeable, friendly staffis key to building strong
relationships with yourcustomers.
Your team should not only knowabout the various strains and
(14:25):
products, but they should alsobe equipped to educate customers
, guide them to suitableproducts and create an inviting
atmosphere.
A knowledgeable and friendlyteam can make a huge difference
to your dispensary success.
Let's explore how you can buildsuch a team.
First, let's talk aboutrecruiting.
You want individuals who arepassionate about the cannabis
(14:47):
industry and committed toserving your customers to
attract this type of talent.
Start by crafting a compellingjob description.
Highlight the opportunity towork in a rapidly growing
industry with plenty of chancesfor growth and development.
Utilize platforms like LinkedIn, indeed, or specialize cannabis
job boards like Thanks and CanaJobs, also cannabis specific
(15:08):
hiring and recruitment firmsthat will help you find the
absolute best candidates, so youor your management team don't
have to navigate hundreds ofresumes.
Bring interviews.
Look for candidates who notonly have a good understanding
of cannabis, but also those whoexhibit excellent customer
service skills.
I like to look for individualswho have experience in high
(15:31):
volume retail and food service.
So, for instance, for a budtender, I would love someone who
has a lot of experience at like, a Starbucks that saw hundreds
of people a day, dealt with alot of cash and how to do a lot
of transactions.
In the end, remember thatcannabis knowledge can be taught
, but attitude and personalityare inherent.
(15:52):
Choose those who would fit inwith your company culture.
Many businesses will hire basedon whether someone is a
cannabis consumer or how muchthey already know about cannabis
itself, but what really mattersis that they're willing to
learn more, because all of thatreally can be taught, and just
because they're experienced withthe product does not mean that
(16:15):
they'll be a great employee, andit does not necessarily signify
their ability to do what youneed them to do, which is to
maintain compliance within yourstore and to build relationships
with customers and to increaseyour sales.
Once you've hired your team,training becomes the next
crucial step.
(16:35):
Comprehensive training shouldcover a variety of topics, from
the specifics of your productofferings to the state's
compliance regulations.
As we discussed earlier,product training is key because
your team should be able toanswer any questions a customer
might have about the products inyour store, use resources such
(16:55):
as product brochures, supplierpresentations, or even bring in
experts for more in-depthsessions.
Because products change fromcultivators and producers over
time, it's invaluable to havethem come in and train your
staff so your staff canknowledgeably discuss their
products, get a sell-throughrate on their products and
(17:17):
therefore benefit both you andyour revenue bottom line for
your company and the bottom linefor the cultivators and
producers.
Remember, laws and regulationsrelated to cannabis are subject
to change.
As a result, part of yourtraining should include periodic
updates on these changes.
Some states require cannabisbusinesses to provide ongoing
(17:39):
compliance training to theiremployees, so it'll say a
required 4 hours every 6 monthsor required 8 hours every 6
months.
Take advantage of thoseregulations and ensure that your
team stays compliant andinformed.
In some states as well, therewill be external training
companies that are certified bythe state to provide the
(18:01):
training that the state wants tosee your employees, and
sometimes the ownership team,have, and it's not just about
product knowledge andregulations.
Train your staff on customerservice excellence.
Educate them about how tohandle difficult situations, the
importance of treating everycustomer with respect and
patience, and how to create awelcoming atmosphere.
(18:22):
These things are skills.
Finally, keep your teammotivated, provide growth
opportunities and, mostimportantly, create a workplace
where they feel valued andappreciated.
What we've seen in terms ofcustomer service and actual
sales skills is a lot ofdispensaries will believe that
(18:45):
just because they hired nicepeople, that sales skills and
customer service will comenaturally.
It does to some extent, butwhen you do the training, you
ensure that you have at least aminimum base standard of service
from every employee in yourstore, and then you'll, of
course, have the ones thatexceptionally shine In terms of
(19:05):
valuing and appreciating yourdispensary employees.
A lot of stores, managers andowners don't want to put in the
investment to have a reward, butyou have to remember that some
employees will sell a milliondollars potentially of products
for you within a given year.
Another might sell a hundredthousand dollars worth of
(19:26):
products within a given year.
That million dollar employeesshould be rewarded for that, and
if you have something like anApple watch, that's a reward for
that.
The investment in that is soworth it to thank them for the
revenue that they generated foryour business.
An argument that a lot ofowners have is that that
employee is supposed to do that,and that's true.
(19:48):
That employee is supposed to atthe least do sales.
But when they excel, when theyexceed expectations and they go
above and beyond, well, thatmakes you very lucky to have
found a valuable person for yourbusiness and you should thank
them for that.
Basically, in the end, yourstaff is the face of your
business and best time andresources into their recruitment
(20:11):
, training and retention.
We have another episode that'sabout employee retention and
it'll pay dividends for yourdispensary success.
All right, we are on to ourfinal two.
Next up in developing asuccessful dispensary is
effective branding and marketing.
They're vital in distinguishingyour dispensary from the
competition.
Developing a strong brandidentity, creating an attractive
(20:35):
store environment and deployingeffective marketing strategies
will help draw in customers andkeep them coming back.
But remember, marketing and thecannabis industry comes with
its own set of rules, so be sureto understand what's allowed
and what's not Certainlymarketing in the cannabis
industry.
It's not straightforward.
It comes with a myriad ofregulations and restrictions
(20:57):
that can vary significantly fromstate to state, which becomes a
problem if you're a multi-stateoperator, and there's even
municipality to municipalitydifferences if you're within one
state and have multiplelocations.
It's also an industry not fullyembraced by some traditional
media outlets due to its federalstatus, so let's talk about how
you can navigate that trickylandscape effectively.
(21:21):
One of the biggest challengesfor cannabis dispensaries is
that they're not allowed toadvertise on many major digital
platforms like Facebook, googleand Instagram due to their
policies on promoting quotedrugs.
This can seem like a hugeroadblock.
I actually have to mention thatTikTok is the worst at this.
They will take a video down soquickly.
Given that these platforms areoften the backbone of a
(21:44):
successful digital marketingstrategy, especially in this age
, this digital age, what do youdo when these platforms will not
allow your business?
There's still plenty of ways toget your brand out there.
The first step, of course, is tofully understand the specific
advertising rules in your stateand local area.
For example, some statesprohibit advertising that
(22:07):
targets individuals under 21.
I would argue most statesprohibit that advertising and
they restrict the use of certainimages and language or require
specific public health warnings.
It's pretty normal for statesto limit the use of an image of
the actual cannabis to limit theimage of consumers consuming
(22:28):
cannabis.
It's actually having peopleactively consuming the products
because they consider that to bepromoting consumption.
It's pretty normal to have astate that says, oh, you can't
have anything that attractschildren, no cartoony and type
looking stuff in that.
But then there's other statesthat go even further than that.
(22:50):
For instance, florida doesn'tallow really bright colors on
packaging.
You see, there is black andwhite and their ability to
really brand is extremelylimited.
Beyond that, there's otheroptions to consider, such as SEO
that drives organic traffic toyour website.
(23:11):
This requires creating awell-designed, mobile-friendly
website that's optimized forsearch engines, regularly
publish quality content likeblog posts or educational
articles that target yourcustomer and that they would
find useful.
Videos now also are reallyeffective, and you can get away
(23:32):
with having some videos in Reelson Instagram, on Shorts, on
YouTube, on some TikToks, if youcan be careful about the way
that you word things and whatyou show on the videos.
So there's got to be somestrategy to it.
A lot of businesses don'trealize how much strategy there
is to it and they'll give it tosomeone who doesn't really have
(23:52):
any expertise or finesse.
And to get real traction, youneed someone who understands
what they're doing and who'sbeing strategic about the way
they're handling communicatingwith the public, about your
brand, about your business.
So you do want to invest insomeone who already knows these
things, or invest in trainingsomeone already on your team to
(24:14):
know these things.
A business may not be able toadvertise on some social media
platforms, but there can stillbe a presence and that's really
valuable.
Just be careful about stayingwithin the community guidelines,
making sure that you explicitlysay that your content is for 21
and over people and never focuson selling your products,
(24:36):
putting sales, putting dollarnumbers.
Any of that can usually triggeryour account to get shut down.
So you might talk about whatproducts you have in store, you
might talk about a deal a bit,but never make it seem like you
are encouraging really anybodyto come in.
But everything is more soinformative.
It's a tricky process.
(24:57):
There's an art to it, but youfind the right person.
You can have a lot of successwith your social media presence.
Also, consider using moretraditional marketing channels,
so, like print advertising andlocal newspapers or magazines,
radio ads, billboards can stillbe effective.
You see them everywhere,especially in local markets.
Email marketing is anotherpowerful tool.
(25:19):
People think it might be dead,but it turns out to be still
pretty effective, especially ifpeople want the product that
you're reaching out to themabout.
You do have to have an opt-in,so your email marketing tool
will be to anyone who's eithersigned up to give you their
email online or given it to youin person in store and agreed to
(25:39):
have you email them.
So collect emails from yourcustomers and keep them updated
about new products, specialpromotions or educational events
.
Always ensure that you'refollowing all applicable privacy
laws when doing so, so youmight not want to personalize it
or mention anything thatthey've purchased in the past,
but just tell them what isavailable now.
(26:00):
You can even line that up withthings that they have purchased
in the past.
Just don't mention that that'swhat it's based on.
In order for you to do that,you would have to be tracking
data effectively enough toreally pinpoint what customers
like which products and thensort them into different contact
lists, so you can set eachcontact list to a different deal
(26:23):
.
Again, I have to mention.
Whether or not you're able todo.
Each of these marketingbranding strategies has to do
with the regulations in yourstate, so some of these would be
explicitly off the table in astate and some states would
allow you to do every single oneof them.
Coming to the end here, this isdefinitely not all the tips to
(26:45):
success in a dispensary, butwe're at least covering the
basics and we're going to wrapup with never underestimating
the power of communityengagement.
Sponsoring local events orhosting educational workshops
can do wonders for your brandrecognition and reputation.
Navigating the marketinglandscape for cannabis
dispensaries can be sochallenging, as we just
(27:06):
discussed.
Both creativity, knowledge ofthe regulations and a
willingness to try differentstrategies, such as reaching out
to your community.
It's entirely possible to builda strong brand and attract a
loyal customer base.
As we discussed earlier, verymuch earlier in this episode,
education is a massive focus forthis industry because consumers
(27:30):
have such little knowledgeabout this product that we need
to get them to a base level ofunderstanding.
For that reason, while youwould think, most companies,
most businesses outside ofcannabis don't tend to hold
educational seminars about theirproducts, unless it's maybe a
total lines that has a sommelierthat's doing some special
(27:51):
presentation, because we have somuch education that needs to
get out to consumers and to thepublic for there to be a better
understanding of the product andits consumer safety, but also
just the product, how it works,how you select it, that kind of
thing.
So people are interested inthese educational events and
(28:11):
they provide a lot of value toyou as a company, but also to
the industry at large.
All right, that brings us tothe end of this insightful
journey through the essentialsof setting up a successful
dispensary from understandingyour customers and their unique
needs, staying in line with everevolving regulations, selecting
the ideal location, building aknowledgeable team, all the way
(28:33):
to executing a compliant andimpactful marketing strategy.
We have covered a lot.
We haven't covered it all, sowe'll probably cover more in
another episode.
I'd like to note that, whilecompliance was listed as one of
the things that you can use tomake your dispensary successful,
you probably noticed that forevery single topic, we mentioned
(28:58):
regulations and compliance withthose regulations, somehow
tying into that topic.
The truth is that compliance isthe foundation of your cannabis
business of any kind.
Without that compliance, youare operating a house of cards.
Without that compliance, youhave a business completely at
(29:19):
risk of being fined, suspended,shut down.
There could be some serioustrouble without compliance with
the regulations.
So, as you go step by step,from the absolute very beginning
, even if you've never had acannabis business before you're
starting your application, havecompliance in mind and have a
(29:39):
wildly compliant applicationsubmission.
If you're already operatingyour cannabis business, then
just ensuring that all of yourcompliance is in place before
you use any of these tools inorder to expand your business or
to start to grow it, and focusmore on the things that can help
you be more successful.
Number one thing that helps yousucceed is having a baseline of
(30:02):
compliance.
Remember that operating acannabis business involves many
moving parts and success hingeson having a deep understanding
of the industry and awillingness to adopt as it
evolves.
But with passion, perseveranceand the right strategies and the
right people, it's entirelypossible to create a thriving
(30:25):
cannabis retail business thatserves your community and
contributes to the industry'sgrowing success story.
I hope you have found thisepisode of Dispensary 101
valuable.
If you did, please take amoment to like this episode.
Subscribe to our podcast CanStrategy Masterclass in Cannabis
Business.
We're always striving to bringyou the most relevant,
(30:47):
actionable insights in thecannabis industry to help you
elevate your cannabis venture.
In our upcoming episodes, we'lldive deeper into other aspects
of the cannabis industry thatare vital for your success, and
we'll dive deeper into vitalsuccess tips for actual
operators in the day to day andfor operators who have an
(31:09):
interest in scaling theircompany or simply improving the
way that their current businessis operating.
So make sure you stay tuned and, as always, we encourage you to
share this podcast with otherbudding entrepreneurs and
scaling businesses in thecannabis space.
Thank you so much.
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