In the ever-evolving world of cannabis, the District of Columbia presents unique challenges and opportunities. Terrence White, founder and CEO of Monco Dispensary, is at the forefront of this burgeoning market. Recently, host Cassie Tomaselli of Big Ideas in Cannabis interviewed White, shedding light on his entrepreneurial journey, Monco’s innovative approach to cannabis retail, and the current state of the DC market.
A Personal Journey into Cannabis
White, a former federal inmate, shared his compelling backstory—a narrative that deeply intertwines with his passion for cannabis. After serving time for a white-collar crime, he recognized a stark disparity in the penalties meted out for non-violent cannabis offenses, particularly among his peers. This realization fueled his drive to enter the cannabis industry and effect change. Upon returning to Washington D.C. in 2015, White initially engaged in real estate but pivoted to cannabis when the I-71 initiative, allowing the gifting of cannabis, was implemented in the District.
His vision for Monco Dispensary was not merely to serve as another retail outlet in an increasingly saturated market, but to elevate the cannabis shopping experience to one of sophistication and education. “I wanted to create a moment and not just a transaction,” he explained, “to make cannabis accessible to sophisticated consumers and to strip away the stigma surrounding it.”
Navigating the Regulatory Landscape
The D.C. cannabis market operates under a complicated set of regulations. After serving as chairman of the I-71 committee, White advocated for common ground between unlicensed operations and licensed retailers, leading to the development of a regulatory pathway. “Despite the challenges, I’ve made it my mission to bridge the gap between cannabis businesses and the government,” he noted.
The future of cannabis in D.C. is shifting, with the impending closure of unlicensed I-71 shops and a movement towards licensing. “D.C. is a unicorn,” White asserts, highlighting the city’s unique tripartite nature as a local population intersecting with millions of annual tourists. This creates a vast potential market for cannabis and related businesses.
Monco: A Luxury Cannabis Experience
White’s vision for Monco is encapsulated in its tagline, “flower to the people.” The dispensary aims to combine luxury aesthetics with education, offering patrons a shopping experience akin to that of high-end retail brands. “When you walk into Monco, we treat you like you’re in a Gucci or Chanel,” White said. “It’s about making every interaction a meaningful one, not just a sale.”
The design of the dispensary integrates modern luxury with comfort, and its “Gas Bar”—an innovative space where customers can learn about cannabis products—redefines the cannabis retail experience. White emphasizes that education is paramount. “It’s about understanding what you’ve chosen and how it will affect your body,” he explained.
The cultivators and manufacturers that Monco partners with are primarily local, providing an opportunity to showcase homegrown talent in the D.C. market. White mentioned an upcoming 60,000-square-foot cultivation facility, Pleasant Hill Wellness, which will further enhance product quality and availability in the region.
Building Community and Trust
Creating a community-centric atmosphere is another cornerstone of Monco’s operations. The dispensary hosts events that engage the public and foster a sense of belonging. “We manage our customer relationships from the moment they walk in to when they leave,” White emphasized. “It’s about creating a personalized experience.”
Monco’s customer retention rate stands impressively at 72%, a testament to its commitment to delivering high-quality service and fostering loyalty. The team of around 20 employees is trained not only in product knowledge but in how to engage customers effectively, emphasizing the importance of relationships over transactions.
Challenges on the Horizon
While White is optimistic about the future of the cannabis industry, he acknowledges the hurdles ahead. Regulatory uncertainty and the stigma that still surrounds cannabis use remain pressing issues. “People are incarcerated for non-violent cannabis offenses while others profit from the same plant,” he lamented.
He called for a more enlightened approach to cannabis regulation, paralleling it with alcohol. “Let cannabis operate its own destiny,” White urged, observing that misguided regulations continue to stifle progress for businesses and communities alike.
Conclusion
As the cannabis industry evolves, voices like Terrence White’s are essential in advocating for fair policies and community representation. His work with Monco Dispensary exemplifies how far the industry has come while highlighting the work still needed to be done. In a market characterized by rapid change, White remains committed to his mission of educating consumers and dismantling the stigma surrounding cannabis use.
As D.C. moves toward a more structured market, all eyes will be on trailblazers like White and Monco Dispensary to see how luxury cannabis retail can thrive in a space that balances community, accessibility, and education.
