Cannabis Jobs and Careers Archives | Cannabis Means Business

March 16, 2023March 20, 2023 By CWCBExpo

How To Make A Career In Cannabis

Few industries worldwide are growing as quickly as the cannabis industry. The cannabis industry is projected to generate 108,000 additional jobs nationally in 2023, according to a study by CannaBiz Team. If so, that would bring the total number of cannabis jobs in the U.S. to more than half a million, up from the more than 428,000 jobs tallied by Leafly in 2022. And with plenty more states coming online, that number is predicted to grow by leaps and bounds. There is a difference between a job and a career.

If you want to get involved in the cannabis industry for the long term, there are some steps you could take before jumping in with both feet.

Landing a job vs. building a career in cannabis

It’s important to understand the distinction between getting hired for an open position and building a career. While building a career often starts with landing a job, it’s a more involved and dedicated journey that involves significant personal and professional growth over time. Every career looks different. A career may involve dozens of jobs with multiple companies or it may involve launching and building a business from the ground up. However, one thing is true for all careers: they’re built over time, step by step, and involve just as much effort off the clock as they do during the workday.

In cannabis, the industry is currently being built from the ground up, with many more markets likely to come online in the near future. That means even landing an entry-level job working as an associate in a dispensary (sometimes called a “budtender”) can be the first building block in an illustrious career. Of course, to turn any opportunity into even greater opportunities, you need to ensure you’re constantly growing in your knowledge and skills, putting yourself on track to become a leader in your niche.

To learn more about how to carve out a career in cannabis, we spoke with Karen “KMesh” Meshkov, partner at FlowerHire Senior Advisors, a firm that specializes in strategic talent acquisition and HR advisory for legal cannabis businesses. Meshkov is also the founder of KMesh Cann, a consulting agency that helps executives and leaders transition into the legal cannabis space.

How to build a cannabis career

If a career in cannabis sounds appealing to you, it’s worth doing a bit of planning and some homework to find your niche first. The cannabis industry involves a wide range of business types, so whatever your background and skill-set, there’s likely a way for you to get involved.

“When I think about cannabis and the incredible opportunity –economists think it can support 1.7 million jobs nationally –the industry needs people with that leadership mindset, and that’s what it takes to build a career in this space,” Meshkov said. The following are some preliminary steps to take that can help you get your cannabis career started on the right foot.

1. Educate yourself on the cannabis industry

Before you can get involved in the cannabis industry, you need to know what you’re talking about. Cannabis is a complicated and ever-evolving space, so your first step on your cannabis journey should be gathering information and following reliable sources.

“It starts with being educated,” Meshkov said. “That includes not only the rules and regs for the local market you’re in, but also the parlance, vocabulary, and culture of your respective state.”

The best way to do that, Meshkov said, is to immerse yourself in the local space by following thought leaders online, attending industry events, and keeping up with the latest news.

2. Consider your transferrable skills

Once you know a bit about the cannabis industry and the types of opportunities that interest you, engage in a bit of self-reflection about your existing skills and experience and how they might translate into cannabis. For example, if you’ve spent years as a digital marketer, your knowledge is helpful to growing cannabis businesses trying to establish their brand and reach their audience. You don’t necessarily need to reinvent the wheel; you might already have what it takes to bring value to a cannabis company.

“[Consider] the ancillary and non-plant-touching businesses that support licensed operators, and the jobs in advocacy and non-profit to support workforce development and public-private organizations needed to build the industry at scale,” she added. “I encourage people to think about what those job opportunities are, what their transferable skills are, and what that job looks like next year, in three years, and in five years.”

3. Establish your online presence

Promoting yourself online can go a long way to making the initial connections you need in cannabis. Following and engaging with cannabis industry accounts that are relevant to your market and sector and help you learn more about the space you’re trying to break into, as well as get your name and face out there.

“In my experience, the way most people find their jobs is through networking and having a strong social presence,” Meshkov said. “A strong LinkedIn profile is where you can demonstrate to the community at large that you’re following and engaged with cannabis.”

4. Find face-to-face networking opportunities

While establishing an online presence is helpful, the real connections will be made in the real world, face to face. Social media and online job applications are all well and good, but you can learn a lot more and get a lot further by getting away from your desk and hitting the pavement, Meshkov said.

“When you’re applying for jobs posted online, there might be 100 other jobs behind that which aren’t posted,” Meshkov said. “If you go to an event and meet the HR director, you’ll learn about those other jobs.

“There’s also another critical piece about this,” Meshkov added. “Online responses to job listings in the cannabis industry are outrageously high. That’s why making that personal connection and building that relationship [is so important].”

5. Don’t be afraid to take new jobs

In some industries, job hopping is seen as a negative, but in cannabis it’s commonplace and even expected. In an environment of such rapid growth and constant change, Meshkov said it’s not unusual to see company leadership with a tenure of less than 2 years before changing companies. Don’t be afraid to take new opportunities if you find one that suits you after you break into the industry.

“The average tenure for a six figure executive is about 18 months or so,” she said. “There are certainly some people that are beyond that… but it’s very common to see one year or six month stints with a company. We talk about candidates being scrappy and flexible, rolling with the punches of this industry, knowing it’s ever changing and being able to pivot.”

Tips on how to stand out from other candidates

Of course, you can’t build a career in cannabis if you can’t land that first job in the industry. If you’re looking to break into the cannabis space, you need to stand out from the thousands of other candidates that are applying. You can take the following steps today to start improving your practical knowledge of the cannabis industry in your state to wow hiring managers when you come in for an interview.

1. Start following prominent industry media and blogs

If you brush up on industry trends and developments daily, you’ll quickly build up a robust body of knowledge about the space. Being able to speak fluently about a wide range of topics in cannabis –some of which can be rather complex –will set you apart from candidates that only have a surface level understanding of what it’s actually like to operate in the industry.

Meshkov recommended bookmarking resources like Ganjapreneur and New Cannabis Ventures to learn about the industry. Over time, she said, you should tailor your regular reading, listening, and viewing to resources that cover your niche particularly well.

“The best resources are a bit different depending on what level of professional you are. For example, an executive’s reading list is a bit different than a budtender’s,” she said.

Still, consistently educating yourself and keeping up with industry news is a must-do for anyone looking to forge a career in cannabis.

“Come to the space with knowledge and informed opinions,” Meshkov said. “That separates you… as a leader who has taken the time and is self-informed and self-starting.”

2. Join a local networking group

Becoming a member of a local networking group or trade association avails you of the chance to meet other professionals and entrepreneurs operating in the industry. If you make the rounds frequently, you’ll get to know familiar faces and start building relationships organically. Soon enough, opportunities to work with others will begin to surface.

“Connect with people in the industry and be a helpful, supportive, contributing member of the community,” Meshkov said. “Through that process, people find their way.”

3. Get on LinkedIn

Social media is an important way to develop and promote your personal brand, and in cannabis LinkedIn is a particular hotbed of activity. Meshkov recommended establishing a presence on LinkedIn and making it clear you’re part of the cannabis industry by following relevant pages, sharing cannabis-related content, and engaging with other people in comments sections and groups.

“Send connection requests to people in your local market,” she said. “Follow those media sources you’ve already subscribed to.”

While the face-to-face aspect of networking is critical in the cannabis industry, staying top of mind in a digital space can be effective as well.

4. Subscribe to job boards

While applying to jobs online has its limitations, it’s also a great way to get an idea of what cannabis companies are looking for in candidates. Subscribe to multiple job boards, especially those dedicated to the cannabis industry. Keep track of the types of jobs you’re seeing and the qualifications associated with them. Use this info to hone and expand your skills accordingly.

“Go onto the LinkedIn job board, Indeed, or careersincannabis.com,” Meshkov said. “See what’s there. What are the options? What interests you? This is an incredible once in a lifetime opportunity for people to get into a brand new burgeoning industry with more jobs and career paths than there are people to fill them.”

5.Follow your local regulatory authorities

Regulators are important in any industry, but especially in cannabis. As the cannabis industry continues to emerge from an era of prohibition, state authorities tightly control what can and cannot happen in each market. Because there is no federal standard governing the cannabis industry, every state can have vastly different rules. Be sure you know the regulations that impact your space in your state inside and out.

“Figure out who your regulatory body is in the state you live in and subscribe to their newsletters and follow them on social media,” Meshkov said. “In New York, it is the Office of Cannabis Management and the Dormitory Authority of the State of New York.”

Turn a cannabis job into a career

Every career starts somewhere. Whether you’re looking to transfer your existing skills into the cannabis industry, launch your own business, or simply make a big change with an entry level job, each of these steps can be the foundation of your career. If you follow the tips above, though, you will not only be able to stand out from other candidates pursuing jobs in cannabis, but flourish into a well-rounded industry expert with the skills needed to become a leader.

“No one has missed the boat, but be careful, bring a life jacket, and have some people to row with,” Meshkov said. “We’re talking about a projected $5 billion industry in New York by 2027. We’re looking at a green wave here that’s just started on the east coast with massive repercussions for job creation and tax revenue.”

When building your cannabis career, it helps to be informed and connected, and there’s no better place to do so than at CWCBExpo. At our annual trade show in New York City, you’ll rub elbows with some of the pioneers in east coast cannabis and learn from some of the most inspiring names in the game. See firsthand what it takes to start building bridges to success at the next CWCBExpo trade show and exhibition, June 1 -3, 2023 at the Javits Convention Center in New York City.

March 8, 2023March 20, 2023 By CWCBExpo

The CWCBExpo Women’s Pavilion Is Expanding! See What’s New At This Year’s Show

Cannabis World Congress & Business Expo (CWCBExpo) became the first cannabis conference to host a dedicated pavilion for women-owned businesses in the industry. Now in its second year, the CWCBExpo Women’s Pavilion, with Women Grow as one of the Anchor Sponsors, is expanding to showcase even more of the fantastic women-led brands and service providers entering and evolving the cannabis industry. Read on to find out more about what you can expect to see at the CWCBExpo Women’s Pavilion when you attend CWCBExpo 2023, June 1-3.

What is the CWCBExpo Women’s Pavilion?

Previously coined the “Women Grow Pavilion,” The CWCBExpo Women’s Pavilion is an area of the exhibition floor dedicated solely to women-led brands from across the greater New York region and across the U.S. Curated in partnership with Women Grow, the space is dedicated to women entrepreneurs displaying their businesses and highlighting their talents.

Kind Fine Jewelry at CWCBExpo women's pavilion table

“People may be surprised, but Women Grow recommended CWCBExpo to rebrand the space [in 2023] in order to create broader opportunities for women business owners and their allies,” said Women Grow President Gia Morón. “As leaders in this industry, it is important we continue to build on how we would like to see the future of this industry. We believe the CWCBExpo Women’s Pavilion will be the new marketplace for cannabis business.”

What can you expect to find at the CWCBExpo Women’s Pavilion?

The Women’s Pavilion is one of the most popular spots on the show floor during CWCBExpo. Pavilion-goers can expect to meet and network with women entrepreneurs from all areas of the cannabis industry.

“Last year’s Women Grow Pavilion was incredible, with opportunities that grew out of the exhibit space from distribution deals to investment conversations. At least five businesses with products are currently on shelves at dispensaries,” said Morón. “The launch of the CWCBExpo Women’s Pavilion is exciting, and we are happy to see the shift and look forward to participating this year.”

Business owner poses with table of merchandise at CWCBExpo 2022 Womens Pavilion

If last year’s Women’s Pavilion serves as any prediction, CWCBExpo 2023 will have no shortage of outstanding women-owned businesses. This year’s space will be much larger to accommodate more women-owned and allied businesses. You can expect a variety of companies, from food and beverage makers to law firms to cannabis accessories — and everything in between!

In addition to networking opportunities, the CWCBExpo Women’s Pavilion is an excellent place for new and veteran cannabis professionals to admire the growth of today’s industry and gain hope for an even more inclusive and equitable future. The pavilion attracted the attention of influential leaders across New York City, including Mayor Eric Adams, who stopped by the pavilion last year to meet business owners.

NYC Mayor Eric Adams visits Highly Personal Chef at CWCBExpo Women Grow Pavilion 2022

Sponsors like Women Grow are lining up to support women entrepreneurs who are bringing innovative products, critical services, and unique ideas into the cannabis industry. And, as the Women’s Pavilion enters its second year, we’re extending a big ‘thank you’ to those who helped make the pavilion’s inaugural show a success. Last year’s Women’s Pavilion exhibitors will be offered their own turnkey exhibit space to return to the Women’s Pavilion at a specially discounted rate.

How to get involved in the CWCBExpo Women’s Pavilion

CWCBExpo is just a few months away and exhibitors are lining up to take part in the Women’s Pavilion and demonstrate their unique contributions to the ever-growing legal cannabis industry. Anyone interested in participating in the CWCBExpo Women’s Pavilion as an exhibitor is encouraged to fill out the exhibitor contact form.

With Women Grow’s leadership, CWCBExpo is providing scholarships to new women entrepreneurs interested in displaying their products and services at a booth in the Women’s Pavilion. For more information on scholarships or to become a sponsor for the CWCBExpo Women’s Pavilion, email [email protected].

February 23, 2023March 4, 2023 By CWCBExpo

Want To Pivot Into The Cannabis Industry? Read These Tips

The legal cannabis industry is replete with opportunity, and if you’ve ever thought about pivoting into the space now is the time. Whether you’re looking for a job with a cannabis business or to launch a company of your own, you can use the skills and experience you already have to get your foot in the door. This guide on how to pivot into the cannabis industry can help you get started on your professional cannabis journey and start the next chapter of your career.

Why pivot into cannabis?

Whether you’ve always been passionate about the plant or are simply looking for a new avenue to apply your skills, the cannabis industry offers many opportunities. According to the annual Leafly job report, the U.S. cannabis industry could support up to 1.75 million jobs when fully mature. Those include a variety of different roles, including “plant-touching” roles like cultivation and retail, as well as indirect ancillary positions in fields like marketing and finance.

The legal cannabis industry is also new, representing the end of a long-standing prohibition on the plant. That means people getting involved in this industry not only have the chance to work with cannabis, but the opportunity to build a new space and influence it in the way they want. A 2017 Statista poll noted two of the most common reasons people join the cannabis industry are the opportunity to create change and the ability to empower others.

Here in New York, long a cultural hub when it comes to cannabis, a regulatory framework is beginning to emerge to support the legal cannabis industry. New York City has now welcomed its first licensed adult-use cannabis dispensary in Housing Works Cannabis Co., and its first social equity license with Smacked. More licenses will be issued and dispensaries will be launched as the state is at the forefront of crafting social equity regulations to support participation in the industry by people who were impacted by prohibition-era policies and the War On Drugs. As the New York cannabis industry grows, so too do the opportunities.

How to pivot into the cannabis industry

The U.S. cannabis market is vast (projected to drive $72 billion annually by 2030), and has unique challenges. Education and preparation are essential to making the most out of opportunities in the field. Preparing to pivot into the industry the right way is the key to success, and the following tips are recommended.

1. Do your homework

Before building your brand or attending your first networking event, immerse yourself in as much information as possible. Cannabis is a unique industry still subject to all sorts of constraints other industries don’t face, so learn all you can before jumping in.

It’s important to remember that cannabis is still federally illegal, and the discrepancy between state and federal law varies greatly. Research industry standards and regulations within your state and beyond to be sure you’re aware of any variations – certain states may have certifications or qualification requirements for specific positions.

Additionally, there are unique tax considerations facing cannabis businesses, so if you’re looking to launch your own company it’s important to include those in your business plan. Section 280E, for example, bars any “business, or portion of its business, engaged in trafficking a Schedule I or II controlled substance (such as cannabis) from deducting non-COGS related deductions or credits for federal tax purposes.” For this reason, any potential cannabis business entrepreneur would be wise to assess their compliance under Section 280E prior to operation.

Finally, banking and funding have remained among the biggest hurdles for companies in the legal cannabis industry. Many banks opt not to work with cannabis businesses, and others may abruptly close accounts without much warning. Obtaining a line of credit or bank loan is similarly challenging (if not impossible) for most cannabis businesses, so don’t count on these conventional methods for funding a new company. Whether you are going to be plant-touching or ancillary, researching potential banks and financial services that are willing to work with cannabis businesses in advance will help to ensure you are prepared.

2. Assess your skills and how they apply

Consider your skills and interests when stepping into the cannabis industry. While you do not need previous cannabis experience for every industry position, understanding the roles a cannabis business needs to operate and how your skill set fits into a broader organization can help you find your niche.

Those with backgrounds in science and technology might be well-versed in working in a manufacturing or laboratory environment as an example of a career and/or business pivot. Retail and customer service is another example where someone’s skills can be put to work managing a dispensary.

Others may consider pivoting and getting involved in the ancillary side of the industry. Cannabis businesses need the same support services as other businesses, so attorneys, accountants, marketers, and more can all offer their services to the cannabis industry. Just be sure to learn the ins and outs of how cannabis is different so you can set yourself apart from other professionals trying to break into the space.

3. Build connections wherever you can

Bridging connections is essential to breaking into any industry. Luckily, there are tons of local and nationwide events in the cannabis industry for new and experienced professionals to connect and network. In New York City – the financial capital of the world – CWCBExpo’s annual conference is the first and largest B2B expo dedicated to the business of cannabis and hemp.

Where should I look for jobs in the cannabis industry?

Maybe you don’t want to pivot into the industry as an entrepreneur but are looking to get a job in cannabis. Many people are surprised to learn there are job opportunities right now that their current career has prepared them for. Some examples include:

Cultivation: The cultivation sector includes breeders and grow facilities. It’s an ideal choice for people who have horticulture experience and are enthusiastic about commercial cultivation of all sorts of plants, including cannabis. The role doesn’t just involve the life cycle of the plant, but an understanding of the cutting-edge technologies meant to improve yields and standardize grow processes, among other aspects.

Retail: Dispensaries often serve as the first point of entry for new employees in the cannabis industry. Budtender and dispensary associate positions are perfect for those who have retail or store management experience. In many cases, dispensary associates are the face of the brand, answering questions and making product recommendations for customers. Retail jobs in cannabis are generally best suited for those with excellent social skills and customer service experience. Inventory management skills are also a must.

Laboratories: As the legal cannabis industry grows, laboratory and tech positions are becoming increasingly important. The legal cannabis industry relies heavily on research and testing to keep consumers and products safe and compliant with state regulations. Those with experience in laboratory or science-based environments can consider positions in cannabis testing.

Construction: Each of the above sectors relies on facilities that are built out to precise specifications, and that requires contractors who are well-versed in the construction needs of cannabis businesses. Especially amidst a struggling supply chain, contractors who are able to source the components and materials needed for a project and create a reliable timeline are key for license holders that are eager to launch their operations.

Media and marketing: Media and marketing positions are essential in all industries – and cannabis is no exception. Marketing for cannabis businesses requires knowledge of both state regulation and platform terms of service, which make up a labyrinth of cannabis marketing do’s and don’ts that can make or break a brand. Those that are adept at navigating these challenges can provide serious value to the industry.

Security: The cannabis industry can be lucrative to retail businesses that sell to consumers. That, coupled with the desirable products in store, can make a dispensary a target for robbery. Additionally, many state regulations mandate tight security considerations at cannabis cultivation, manufacturing, and retail facilities. For this reason, cannabis security experts and personnel are necessary to protect cash, products, and people.

Insurance: All businesses need insurance, but the cannabis industry carries with it some significant risks that mainstream businesses don’t face. That’s why cannabis insurance experts are so sorely needed. Helping connect businesses with underwriters that are willing to cover them can be a full-time job in itself.

There are, of course, many other types of jobs and business opportunities in the cannabis industry as well. From real estate to packaging, apparel to finance, consider how your background and skills connect to the existing needs of cannabis businesses — therein lies your pathway into the cannabis industry.

Opportunity is expanding in the cannabis industry

Opportunities to pivot into the cannabis industry are growing every day. As legalization progresses on the state and federal levels, the tips in this article serve as a great stepping stone into the space. If you’re ready to get involved, join us June 1 – 3, 2023 at the Javits Convention Center in New York City for the next CWCBExpo — it will be a cannabis trade show that’s not to be missed!

New York State Cannabis Business Association Exhibit Booth, NY 2022

October 13, 2022October 31, 2022 By CWCBExpo

11 Tips For First-Time Cannabis Expo Exhibitors

Trade shows and exhibitions are an important tool for businesses in any industry, but especially so in cannabis, where face-to-face connections are quite important. In-person expos offer an excellent opportunity for new and old companies to connect with other brands and industry professionals for the mutual benefit of their businesses. If you’re exhibiting at a trade show or other event for the first time, these tips can help you make the most of your time on the show floor.

1. Set goals for your trade show attendance

What do you want to achieve at the show? Think about what you want to get out of your experience before the show starts. This way, you can shape your booth around achieving those goals. For example, if your goal is to grow your contact list by 5%, you may want to offer free items, promotions, or other incentives in exchange for signing up for company emails at the booth.

2. Take inventory of what you need for the show

Planning in advance is essential to ensuring you’ll have a successful experience as a first-time exhibitor. Make a list of exactly what you’ll need and gather these items well before the show date. This advanced planning gives you time to note if anything is missing without having to scramble for it at the last minute. Inventory needs for a trade show can include all furniture, lighting, signage, giveaways, and takeaway materials like business cards or flyers.

Some expos and trade shows offer turnkey booths to eliminate the hassle of planning. A turnkey booth is set up and ready to go right when you arrive. These booths generally include essentials like tables and chairs, so all you have to bring is some literature – and yourself!

If you’re building your booth from the ground-up, it’s smart to begin planning as soon as you decide to exhibit. Larger, custom booths require design and construction that needs to be booked well in advance.

3. Figure out how everything is getting there

If you plan to hand carry your items to booth setup – meaning, you don’t need freight service to bring items to your booth – plan what you need in advance. Make sure all your items fit in your car before you head to the show. This will allow you time to figure out what works and make arrangements for items or supplies that don’t. Be sure to follow the venue’s rules for unloading your items, including time limits and parking instructions.

If you do need freight service, venues are contracted with a specific service to help load your items, build any fixtures if need be, and send everything back to your chosen address when the show is over. You’ll receive this information from the expo organizers when you sign up for your space.

4. Confirm staff scheduling

Having some help at your booth can go a long way. Whether your staff or hired help, knowledgeable people who can speak dynamically about your business help you connect with more attendees. Don’t wait to get this staff in place – schedule your team members or other help in advance. Give everyone at your booth the details they need to have an educated discussion about your company with attendees.

5. Let people know you’ll be there

Once plans for your booth are in place, it’s time to advertise your attendance. Use social media, email marketing, and other channels to let the world know you’ll be exhibiting at the event. You can also come up with marketing strategies to help you meet potential clients.

In addition to advertising through your own channels, following and interacting with the trade show on social media is an easy way to let other attendees and brands know you are exhibiting. Brands looking for extra exposure may also want to consider becoming a sponsor of the event.

6. Promote other exhibitors and speakers

Supporting others is a great way to have them return the favor. If you have someone walking the floor or attending panel sessions, make sure they promote others on social media and tag them along with the trade show. Not only does promoting others generate good will for your brand, it helps let people know you’re attending the show too by giving you a consistent stream of quality content for your own channels.

7. Engage meaningfully with your visitors

You have the opportunity to make thousands of first impressions at a trade show. Greet each person who comes to your booth with sincerity and enthusiasm. Refrain from sitting down too much and avoid focusing on your phone. Rather, watch for attendees looking to speak with you and be ready to interact with them. Try these icebreaker questions to start a meaningful conversation with your visitor:

What brings you to the expo?
Where are you traveling from?
What’s your profession?

How you act at the booth can be a reflection on your company, too. Try to avoid looking down at your phone in between visits, instead saying hello to passersby or offering literature about your company.

9. Walk the show floor

It’s important to remember that networking is just as valuable as having a conversation at your booth. It’s a good idea for at least one person from your team to walk around the show floor, checking out other booths and making connections with fellow exhibitors. This team member is usually responsible for distributing and collecting business cards, as well as conversing with exhibitors and attendees. In addition to connecting and networking with other companies, walking the trade show flow is an easy way to head home with a bag full of useful giveaways.

10. Attend events and after-parties

Most trade shows have events and after-parties, where you can follow up with people you met throughout the day. While these may sound like an optional fun time, it’s where deals get done! It’s always wise to take advantage of these opportunities and attend as many after-parties as you feel up for.

11. Evaluate your experience at the end of the show

Taking time to reflect on your experience once the trade show closes to plan a more successful show the next time around. Sit down with your team to discuss the events of the day. You may even want to survey them about their experience. Some questions to consider asking your team are:

Was the show worthwhile?
Did you generate strong leads or make quality contacts?
What were the most valuable moments for you?

12. Follow up with your contacts

After a trade show, it can be difficult – nor is it expected of you – to remember each and every conversation. That’s where a strong follow-up comes into play. Be sure to send an email or schedule a call with the contacts you’ve made. For best results, try to follow up within a week or two of the event to make sure your conversations are still fresh in the other attendees’ minds.

Ready to rumble?

Ready to exhibit at your first trade show? Exhibitor passes and turnkey booths for the June 1 – 3, 2023 CWCBExpo are currently on sale for a discounted rate until Nov. 1, 2022. Follow these tips to help attract and engage others for a successful exhibition that generates buzz and business for your company.

August 29, 2022September 22, 2022 By CWCBExpo

Industry Deep Dive: What to Know About Cannabis Real Estate

Nothing in cannabis is simple, and the same is true when it comes to securing real estate. Especially in recently legalized and rapidly expanding markets like New York and New Jersey, where the rules and regulations are still being developed and buying or leasing property to support a future cannabis operation could be a complicated endeavor.

To help you navigate the waters of cannabis real estate, we developed this guide to cover the challenges associated with securing real estate, as well as the tips you need to know as a cannabis business trying to make decisions about one of the most important aspects of doing business: location, location, location.

Cannabis real estate financing and federal prohibition

The ongoing federal prohibition against cannabis continues to lock some businesses out of the banking system, especially plant-touching companies like cultivators and dispensaries. The same is true when it comes to lending, a key component for any business looking to secure commercial real estate — especially in high-value locales like New York City.

Unfortunately, cannabis’s continued status as a Schedule I controlled substance under the U.S. Controlled Substances Act (CSA) means most lenders are hesitant to write a check for a cannabis business to rent or buy a space. This can make securing real estate a very difficult endeavor.

“In the event a landlord is foreclosed on because they missed payments or for some other reason, the rents would automatically go directly to the lender,” said Kristin Jordan, CEO of Park Jordan, LLC, a commercial real estate brokerage firm dedicated to serving the cannabis space. “That means the lender would be taking rent from a cannabis client, which they can’t do typically because they are FDIC insured and cannabis is considered federally to be illegal activity.”

One of the biggest considerations when it comes to acquiring real estate for cannabis businesses is the federal tax code 280E. 280E is a regulation which disallows cannabis businesses from taking tax deductions and credits available to other legal businesses. When it comes to real estate, 280E makes lenders extremely hesitant to offer mortgages for cannabis companies looking to secure commercial space.

As a result, Jordan said, cannabis businesses are left with a couple of decisions: buy the property outright with no mortgage, which could be prohibitively expensive, or find a local lender that isn’t FDIC insured and is willing to work with cannabis businesses. According to Jordan, working with local lenders may be challenging because some brokers are willing to misrepresent the nature of the business to secure the loan — but usually, she said, the truth comes out.

“You may spend nine months negotiating the deal, but then the full thing falls apart,” she said. “What I recommend my clients to do is get a letter from the lender directly before you even negotiate. Don’t take the word of the broker or even landlord for that matter — it’s the lender that matters.”

State regulations limit real estate options

It’s not just funding considerations that limit cannabis businesses’ options when it comes to choosing real estate. Most states also have setback regulations that prevent cannabis businesses from setting up shop just anywhere. For example, Jordan said it is typical for cannabis retail or on-site consumption locations to be no less than 500 feet from a school zone and 200 feet from places of worship.

While these regulations vary from state to state, finding a location in compliance with the rules is critical to securing and maintaining a license. An added element is that the way states measure setbacks can vary, making it unclear precisely what qualifies as far enough away from specified places.

“One consideration in New York that we don’t know is how setback measurements will be made,” Jordan said. “For liquor licenses, it’s the front door to the other front door. In cannabis, because we don’t know what that is yet and we’re waiting on regulations, we’re not inviting our clients to use those measurements yet. It’d be foolish for anyone to secure anything without knowing those regulations.”

Zoning rules also limit cannabis real estate selection

On the municipal level, every town has its own zoning rules set by the local land use boards. While some municipalities allow cannabis businesses to open in normal commercial zones, it’s also not uncommon for them to be relegated to a far-flung corner on the outskirts of the municipality.

“In Massachusetts, for example, we saw local municipalities fearful of having cannabis retail in main retail corridors, so they put them in industrial parks,” Jordan said. “These areas are not well lit and not well-trafficked — they’re not great areas for retail and not designed for retail. So it’s creating these unsafe and less attractive environments for customers to have to go to.”

In a densely populated area like New York City, Jordan said, this could be even more challenging.

“I separate New York City from the rest of New York state – in NYC, if you know the area, we could start negotiating,” Jordan said. “Retail corridors where there are no issues of setbacks like churches and schools – like in SoHo or large spots in Upper East Side – we can look more closely at those areas, and we would make those leases contingent on getting and obtaining a license.”

For the rest of New York, it will be important to engage local officials and begin a dialogue around what the industry needs to flourish and how it will contribute to the local community, Jordan said.

What should cannabis businesses do today?

Jordan offered the following tips for cannabis business owners looking for real estate to help them find a great spot without getting stuck covering a massive liability.

The best place to start is to understand what’s happening in your broader region. Jordan recommended looking to other states to understand the risks of snapping up property too soon. Since the regulations and processes are still in development in emerging markets, you could be left paying a mortgage or rent on a space you can’t use for some time.

1. Research other states

“The best example is to look at New Jersey,” Jordan said. “They expanded medical cannabis in 2019. We have clients who held real estate until present and the licenses are still not issued yet. Not many people can do that, and most shouldn’t. My fear is the New York opportunity seems so compelling you will have people borrowing money to do this, and I get really nervous about that. The state has promised low and no interest loans. Let’s hear from them first.”

2. Keep tabs on regulatory developments

Naturally, closely following regulatory developments as state agencies promulgate industry rules should be a key focus for cannabis operators. Partnering with a reliable broker who will act in your best interest can help you stay apprised of the most recent developments as they occur.

“Speculating does a disservice; there’s so much misinformation out there that can further cloud a complicated space,” Jordan said. “Unless you have very deep pockets, you should not be willing to pull the trigger on anything yet. That’s the right move, especially for small businesses and startups.”

3. Avoid taking possession of real estate until licensed and permitted

If you find the perfect spot and the landlord and lender agree to a deal contingent on licensing, Jordan advised that cannabis businesses should not take possession of the space until all their documentation is in order.

“Don’t take space unless you can do what you need,” Jordan said. “We also want a termination rate [in the agreement]; people need to be able to walk away if they don’t get a license.”

4. Engage with community leaders

Finally, cannabis businesses should engage with local community leaders and officials to demonstrate their desire to be good stewards of the community and explain what support they need to get their businesses up and running. This is especially true for social equity applicants, Jordan said, who will face additional scrutiny to ensure social equity licenses are going to qualified applicants.

“If you’re a social equity applicant waiting on funding from the state, you can’t secure a place — but we can do market surveys,” Jordan said. “You have to meet with [community stakeholders] now and ingratiate yourself today because you need that kind of support to open your doors. Get the intel about what the community looks like, its stance on cannabis, and neighboring communities that might opt-out.”

Getting real about cannabis real estate

There may be some significant challenges to securing financing and signing a lease agreement for commercial real estate in cannabis, but there are still concrete steps you can take today to set up your enterprise for success. With the right plan in place, you can position your company to be ready to take possession of a suitable location within compliance with state regulations as soon as your licenses and permits come through.

If you’re looking for the right match for your cannabis business, we wish you happy hunting. And if you’re looking for professionals and partners who can help you make the right decisions about real estate and anything else cannabis, join us at the next CWCBExpo cannabis trade show, where the leaders of the legal cannabis industry gather.

December 1, 2021January 19, 2022 By CWCBExpo

How To Start A Cannabis Business As An Industry Newcomer

Did you hear the news? Cannabis legalization is coming – and it’s coming fast. The majority of the U.S. now has access to legal cannabis in some form, and many more stats are “coming online” with full adult-use legalization with each passing year.

With this new industry comes a new opportunity for you as a business owner. How do you start a cannabis business? There’s a whole lot to learn, and there’s no real shortcut to doing your homework and learning the ins and outs of how you can bring your talents to the emerging cannabis industry in your region.

What are your legal cannabis industry business options?

Naturally, the first place to start is to evaluate the opportunities available to you. There are two major categories cannabis businesses fall into: plant-touching and ancillary. Here, let’s learn a bit more about both:

Plant-touching business

If you’re interested in cannabis cultivation, processing, or retail sale, then you’re going to want to start a plant-touching business. When a business has a daily and direct connection to the cannabis they’re selling, they become plant-touching entity.

As it currently stands, plant-touching businesses are subject to numerous state and federal mandates that outline how the business can operate and who it can serve. Cannabis businesses in general pay more in taxes, thanks mostly to Section 280E of the U.S. tax code, which denies such companies the ability to deduct regular business expenses. Without those deductions, you’ll likely deal with an average effective tax rate much higher than the 30% average paid by most businesses.

Starting a plant-touching business also comes with some hefty price tags. From licensing costs to real estate acquisition, you may have to invest significantly just to have a chance at a license, all while following some extremely fine-tuned guidelines that determine how and when you can operate. These fees can reach into the six figures and easily into the millions. Banking and financing is also a challenge, and you may need to access private equity if securing a loan proves too difficult for your venture.

Some examples of plant-touching businesses include:

Cannabis cultivators. These businesses deal in growing and harvesting the cannabis plant, as well as preparing it for sale. As the backbone of the entire industry, these businesses directly handle the plant from its first seeds.
Processing and manufacturing. If you want to create cannabis extracts, edibles, or topicals, a processing or manufacturing license is what you need.
Laboratory testing. Cannabis regulations require most businesses to label a cultivar’s potency level on the packaging, as well as other testing for quality and consumer safety. An impartial, third party cannabis laboratory is sought after to conduct those tests.
Social consumption areas. A few states and cities allow for consumption lounges, a space not unlike a bar for alcohol where you can attend and consume the cannabis of your choice
Dispensary. The ultimate in plant-touching businesses, a dispensary is what most people think of when you start thinking about getting into the cannabis industry. Dispensaries carry an array of products for consumers and provide a retail experience for them to see their options, ask questions, and decide what they want to take home.

Ancillary business

If you don’t have any interest in handling cannabis or the in-depth, capital-intense licensing route isn’t for you, an ancillary business may be best for you.

Just like any other industry, cannabis businesses need support services to help them get the job done. If you have a transferable skillset that can be put to work in the cannabis industry, an ancillary business may be a more accessible way to break into this industry.

The following are some key examples of ancillary businesses that commonly assist the cannabis industry.

Legal firms. There’s no way around it: If you’re working in the cannabis industry, you’ll need to consult an attorney to ensure you’re within compliance of the rapidly-changing regulations. The number of legal firms throughout the U.S. that specialize in cannabis regulation has grown in recent years, but there’s still no shortage of demand for good legal services.
Marketing. If no one knows your business exists, then you won’t enjoy the kind of success you want as a business owner. Luckily, ancillary marketing companies that understand the ins and outs of the cannabis plant and the cannabis market can help boost your brand. that specialize in the growing cannabis market, a great way to drive interest in an incredibly-crowded field.
Financial services. Like most other businesses, companies in the cannabis industry benefit from hiring an accountant or CPA to make sure financials are in order. Add in the sticky tax environment that cannabis businesses have to contend with, plus the potential to still deal in cash (although this is changing), and you’ll quickly understand how valuable these services can be.

5 questions to ask before entering the cannabis industry

Before you start any kind of business, you should do a little introspective thinking before taking any meaningful steps. This is especially true for new businesses in the cannabis industry, as the steps you need to take to get to opening day can be significantly more involved, costly, or time consuming. If you’re set on hanging your hat on the cannabis industry, then here are some things to ask yourself before you make the plunge.

1. What do I need to prepare a plant-touching or ancillary business?

This is the first step to take before getting into the cannabis business. After reading the requirements above, you probably have a good idea of which sector you’d like to enter. Once you’ve made a decision on the direction to go, start making your plans, collecting estimates, and networking with other cannabis business professionals to help build the team and connections you need to succeed.

2. Where do I want to operate?

The answer to this question may seem like a no brainer, especially if your state has passed its own legalization efforts, but the reality is that it may be more involved than you’d think. If you’re a plant-touching entity, you’ll be limited as to where you can operate, as not every municipality within a legal state will accept a cannabis business. For example, around 70% of New Jersey municipalities opted out of allowing plant-touching businesses within their borders. In many cases, you’ll also need to find real estate, a challenge in itself as you look for a property owner willing to lease to you – or be prepared to buy a building. Ancillary businesses, on the other hand, can work from anywhere and service any legal cannabis business.

3. Am I financially ready for this?

This is going to be an inherently personal question that you’ll need to answer. Starting any business requires some measure of financial input; on average, a home-based business costs a few thousand dollars to get off the ground. But in cannabis, especially if you’re going to be a plant-touching entity, you’ll have to consider where your funding is coming from. Not only is it a requirement in many states to have cash on hand to obtain a license, but the cash-intensive startup costs can easily add six figures or much more to those requirements, depending on the state in which you want to operate.

4. Are my skills needed in the cannabis industry?

At the end of the day, your capabilities as a business owner come down to how marketable you are. The cannabis industry relies on a wide range of skill sets from all kinds of people. If you can see your skills bringing major benefits to any other business, then it’s very likely that you can be a boon to the cannabis industry as well. All you have to do is find your niche and operate within it. By carving out a place for you and your business, you can find success in the cannabis industry.

5. How will I learn what I need to know to succeed?

There’s a lot to learn before launching your cannabis venture. This is not an industry where can simply walk in and say, “here I am, let’s work together.” How do you plan to ensure that you can thoroughly and intelligently engage with the cannabis community? You may want to consider taking courses, signing up for daily newsletters, or even returning to college to obtain a certificate or take college-level courses in cannabis to ensure you have the educational chops to succeed.

5 steps to starting your business in the cannabis industry

Once you know the type of business you want to start in the cannabis industry, it’s time to roll up your sleeves and get to work.

Starting a business in the cannabis industry is a marathon, not a sprint. You’re going to have to go through multiple hoops just to get started getting started. Though it will likely be a long process from conception to opening day, here are some steps you should remember to tackle starting out.

Learn as much as you can. The cannabis industry can be obtuse to the average person. As a result, you’re going to want to absorb as much information as you can from experts and successful business owners already in the industry. That means making sure you take advantage of any resources at your disposal, including attending workshops and panels at industry events like the Cannabis World Congress & Business Exposition (CWCBE).
You can also consider enrolling in a number of existing cannabis business courses, either online or in-person. A small but growing number of universities have begun offering cannabis business certifications that can help you get a leg up on your competition.
Network. It may be awkward to many, but networking with other cannabis professionals can be a huge help in getting your bearings straight. By going where those individuals will likely be, such as trade shows and other public events, you can get yourself in front of the right people who may be able to help you, connect with you, or introduce you to others along he way. Again, trade shows like the CWCBE are a perfect venue for networking opportunities.
Do your research. The most successful businesses today got where they are by knowing more about their target market and competition. As you gear up for opening day, be sure to consider what other cannabis businesses are already operating in your area and how you can outperform them. Whether that means providing a different product or service, providing the same or better product at a better price, or outmaneuvering them when it comes to promotions and advertisements, some footwork ahead of time can make a huge difference.
Know your laws. Cannabis laws can be a lot to take in as a newcomer, but knowing your rights as a cannabis business owner could be very important if a conflict comes up or you need to pivot. By knowing what you are and aren’t allowed to do as a cannabis business owner can help keep you, and your clients, free and in the clear.
Don’t be surprised if there are setbacks. Even if you’re an ancillary business with fewer risks, you may be surprised to discover that not everyone will be as thrilled as you about your new venture. Basic services like banking may be harder to obtain, while social media platforms like Instagram are generally inhospitable to cannabis, So, too, are many major advertising platforms. Allow time for this, do your homework, and be prepared to get back up a few times to keep going.

Want to get involved in the cannabis industry? Start today!

It’s a common dream to want to be your own boss. Small businesses make up a large portion of the American economy and that’s largely thanks to business savvy individuals taking the leap and creating something of their own. The cannabis industry is poised to drive this: As one of the largest-growing sectors in the United States, the opportunity is aplenty if you’re ready to put in the time and you’re ready to learn.

Curious about the opportunities that lay ahead? Make plans to attend CWCBExpo at the Jacob K. Javits Convention Center in New York City, held June 2-4, 2022.

Cannabis Means Business – Conference & ExpoJune 4 - 5, 2025

Javits Convention CenterNew York City