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What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
Making a profit.
We are staying lean. We have three main owners and all of us are full time. Its really all about finding a balance, offering enough promotion and discounts to influence sales while not giving too much away. Lowering our prices enough to drive volume but not going to cheap. Purchasing inputs at the right time of year allows us save on costs as well. California has been a shrinking market, so we are expanding out to NY, WA, and hopefully other states. We don’t really have one big point that allows us to be profitable, it is a combination of owners working, staying lean, purchasing at the right times and balancing price and promotion. Also staying in our lane, focusing on vapes and vapes only.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
Ecommerce and interstate. I feel strongly that the people surviving in the CA market will do well when/if it goes federal. People will want CA weed, not Arkansas combine weed. If we could ship our products across state borders (not by THCa and delta loopholes) then it would be wonderful for CA brands.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Stay strong and be flexible to change your ways.
What is the most important thing you have learned from your experiences in the cannabis industry?
How to stay resilient. This is the greatest industry; at the same time it feels like the worst.
What do you want your legacy to be as it relates to the cannabis industry?
That we have the cleanest, greatest tasting vapes out there.