Compliance in the beginning was just a "four letter word" and still is in new markets. Early on, we saw the word "compliance" become a buzzword as enforcement took down major players in older markets like Colorado. Everyone, all of a sudden - overnight - became "compliant" or claimed to be. Operators still act like they care about proactive compliance, but few actually manage it well or fully unpack the buzzword.

We've evolved by realizing we can't lead everyone to the waters and expect them to drink and to be selective about which clients we help position as leaders for everyone else to follow. This has allowed us to not waste our time or client's money since you can't work with people who don't truly care about doing the boring and tedious work necessary for long term success and risk mitigation.

These days, we've evolved the conversation beyond the buzzword and reactionary culture to one that values proactive compliance management of processes, people, and macro and micro areas of compliance. We've made it easier to understand and simple for clients to choose their level of protection over the long run. We are a part of their every day struggle to comply and help them achieve compliance objectives and protect themselves.

The future looks like cGAP, cGMP, and ISO standards and international commerce in which we're positioned as global leaders for success.

Greetings anonymous. We hear that the likely impact of medical cannabis on big pharma amounts to roughly 1% of their industry sales (e.g. pretty insignificant), but we also hear that they are spending heavily on lobbying efforts against legalizing medical cannabis. I often liken the issue to rechargeable batteries for average home use. When they first came on the scene, the battery companies fought hard against their proliferation, but eventually realized that it was easier to join than fight, and started making their own rechargeable batteries. Most believe that, following federal legalization, big alcohol, tobacco and pharma will enter the industry, instead of continuing to fight to protect much more dangerous opioid and similarly addictive products. But in the meantime yes, it appears they are seeking to delay, limit or prevent the growth and legalization of medical cannabis.

What are the challenges of building a POS software compliance platform for the cannabis industry when regulations vary so much from state to state? For example, will you have to build a completely different system to serve the state of Ohio once cannabis operations begin there?  

Hello Tony, I make no excuses for not responding. I apologize. If you have not already obtained this information. 

There are several things that must happen before seeking or even securing capital for a dispensary; especially a startup.  Things to consider:

(1) Do you own land in an opportunity zone, or have the ability to purchase it?

(2) Do you the team required to successfully operate a dispensary?

(3) Are you purchasing a pre-existing license or applying to secure a new license?

(4) If either, do you need just once license?

(5) What are you looking to do at your dispensary and sell?

(6) Do you have a business plan that is investment ready?

(7) How much skin in the game did you put in?

(8) What is your ask (how much capital will you need)?

(9) What is your offering (what percentage of equity are you offering an investor)?

(10) What's your exit strategy?  

Be sure that all business partners and team members have clean criminal backgrounds, professional or hands-on experience and finally; be sure they are all aligned with your vision and how you see it being carried out.

Again, I apologize for the extremely delayed response. I will be sure to activate my subscription to receive emails when someone asks me a question.

Good luck and much success!

Khadijah Adams

www.cehutton.com