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