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Bract & Pistil

Summary

In this episode of Marketing that POPs, we get to dive deep into the world of Controlled Environmental Agriculture (CEA) for cannabis! We're thrilled to chat with Laurel, a long-time friend of ThrivePOP and a leading voice in the cannabis industry.  We'll be picking her brain about Bract & Pistil, a consulting firm dedicated to helping cannabis businesses thrive.
 
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Key Takeaways

Profitability Challenges:

  • High regulatory costs, including significant taxation unique to cannabis companies.
  • Oversight and legal risks add to operational complexity and expenses.
  • Applications, attorneys, licenses, consulting teams, product testing, traceability systems, and extensive security requirements are costly and more rigorous than for most other industries.
  • Cannabis businesses face restrictions on tax write-offs and limited access to banking services due to federal illegality.

State-Specific Issues:

  • In New Jersey and Connecticut, many issued licenses are inactive due to a lack of financing.
  • Active businesses in these states benefit from limited competition and perform well.

Dynamic Legal and Compliance Needs:

  • Constantly evolving regulations necessitate a strategic legal and compliance team to ensure ongoing adherence.

Marketing Considerations:

  • It's crucial to allocate a substantial budget for marketing.
  • Understanding the appropriate marketing budget is essential for effective outreach and brand positioning.

Strategic Planning:

  • Developing clear strategies and goals is vital for business success.
  • Aligning with clients who share your values is important for sustainable growth.

Debunked: The cannabis industry is a gold mine.

Resources

Bract and Pistil - a small, curated team of professionals, providing consulting services to the cannabis industry.

Their experience, ability to adapt to industry fluctuations, and proven project success are evident in their work. 

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