business

Advertising cannabis products is strictly prohibited on a federal level, while also being highly regulated on a state-by-state basis – here's what you need to know. 

• Instagram, Facebook and Google, and other social media companies do not allow cannabis companies to purchase ads on their...

 

 

The cost to acquire a new customer is five times that of keeping an existing one – here's how to recruit loyal, repeat customers. 

• Offer a points-based loyalty program to build your customer base.
• Cross-promote your products with other local businesses, like restaurants and bars.
• ...

As the cannabis market expands, it's important to know who your best customers are – and recruit new ones simultaneously.

• Baby Boomers are a lucrative market: 67% of Boomers consume cannabis for health and medical reasons. They also spend more than millennials or Gen Z.
• Diversify your...

Cannabis delivery is a great way to reach new customers and add an additional revenue stream – here's what you need to know to get started. 

• You may not sell cannabis through social media, but you can advertise online and through cannabis-specific sites like Weedmaps, Leafly, and ...

Your dispensary's employees do the lion's share of your marketing – here's how to train them to close a sale.

• There are lots of advertising restrictions in the cannabis industry – know what you can and can't say before you spend money on marketing.
• Allow new budtenders to sample products...

Franchising is a great way to scale your business, but be careful of some common growing pains. 

• Franchising is a smart way to bring talented people into an organization.
• However, you will have less control over your brand and the way it is represented.
• Franchising is complicated due to...

Try these five tips to overcome high sales tax and improve your profit margin at your cannabis dispensary.

• Offer “premium” pricing on your best selling products. 
• Upsell, cross-sell, and bundle products to boost the average basket size of each transaction.
• Start a loyalty program to...

Location is everything, but it's very difficult to find affordable real estate for your cannabis business in California.

• Zoning laws make it very difficult to find reasonably priced real estate for cannabis operators – this will be one of your biggest expenses.
• Dispensaries in a bigger...

Intellectual property is one of the most valuable parts of your cannabis company – make sure it's protected. 

• IP refers to trade secrets, an entrepreneur’s right to protect his or her original work.
• You may not get a federal trademark on cannabis, but you may trademark ancillary products...

There are two approaches to pricing your cannabis product that can help you optimize your profits.

• The cost approach to pricing uses the costs that have gone into creating a product as the basis for charging a certain amount.
• The market approach looks at what your competitors are...