Like marijuana legalization itself, AI is in its early stages, and advances in AI technology are being increasingly applied in the legal cannabis industry to help marijuana companies from seed to sale. Here are the main ways in which AI technology is being leveraged in the marijuana industry. 1. AI for optimizing cannabis cultivation Achieving […]
Starting a business is inherently risky but these are especially acute for cannabis cultivators. Uncertainties surrounding marijuana banking and the patchwork of ever-changing and onerous regulations means many cannabis operations start small with a view to scaling-up as and when conditions allow for it. It’d be a mistake to think scaling-up simply means hiring more […]
Cost segregation is a well-known strategy for limiting income tax liability but it is one that remains relatively unknown by many marijuana businesses. This is unfortunate as cannabis companies have especially onerous tax obligations compared to businesses in traditional industries, owing to marijuana’s federally illegal status. In this article, we’ll discuss how marijuana companies, and […]
With federal cannabis banking reform at a long-running impasse, more and more payment service providers have stepped in with solutions so that marijuana businesses in states that have legalized cannabis don’t need to operate solely on a cash basis. Understanding what cannabis payment options are available and how each method works is no easy feat […]
2022 is proving to be another big year for the legal cannabis industry in the US. So far this year, recreational marijuana dispensaries opened their doors for business for the first time in New Jersey and New Mexico. New York, Rhode Island and Connecticut are set to follow suit before the end of the year. […]
Recent inflationary pressures have put an added strain on marijuana businesses, especially those that have just opened. Many cannabusinesses, especially in states like California, were already finding it hard to balance the books due to onerous tax obligations, compliance requirements, and licensing fees. This hasn’t been helped by IRC Code 280E which prevents marijuana businesses […]
How do you measure the success of your marijuana business? Aggregate numbers like sales and expenses are, of course, important but they don’t necessarily give a full picture of a company’s performance, and where it’s likely headed. For a more nuanced understanding of a company’s health, analysts make use of key performance indicators (KPIs). By […]
With yet more states opting to legalize recreational cannabis sales this year and the prospect of others joining them through ballot measures at the forthcoming midterm elections, we are going to see a new wave of marijuana dispensaries opening for business. The cannabis industry is undoubtedly lucrative but that in itself is no guarantee of […]
The US Federal Reserve’s decision to hike interest rates to help combat inflation amid a shrinking US economy in the first quarter of 2022 has spurred fears of a recession. These fears have intensified in some quarters following the release of the latest estimates from the Federal Reserve Bank of Atlanta’s GDPNow model for the […]
Cannabis retailers often stress about how much money to pour into their business with so much uncertainty shrouding the industry. Might regulations change? For better, or worse? This leaves many struggling to justify large overheads, even if they sense it would help the business to scale. What is an optimal cannabis business expense ratio? So, […]
