Does Receivership Work for Cannabis Business Investors?
While filing for bankruptcy as a cannabusiness operator isn’t an option, receivership could work. This involves having an appointed trustee restructure your company and is especially helpful for business owners interested in exiting the cannabis sector and recouping some of the resources invested in the business. But why is a receiver appointed? And what is […]
Must-See Tips for Cannabis Dispensary Cash Handling
Cash management is crucial for any small business. But when it comes to operating in the cannabis sector, inappropriately managing cash can become a severe issue. This industry is characterized by inaccessible banking services that force many cannabusiness operators to handle transactions in cash. With this in mind, strong cash handling policies can ensure your […]
How to Measure Your Cannabis Business’s Financial Health
Maintaining a financially healthy cannabis business is crucial to success. Without keeping a finger on the pulse of key financial health indicators, your operation becomes susceptible to a plethora of issues. The cannabis sector’s rules and regulations are continually receiving updates. But between handling all of the other components of your business and staying compliant, […]
Choosing the Right Accountant for Your Cannabis Delivery Service
Whether you’ve recently started your cannabis delivery service or have been in business a while now, you should have a team of professionals and advisors to steer you in the right direction. Most of the time, cannabis business lawyers are the go-to. They’re almost always the professional questioned first regarding where to find the right […]
How to Raise Capital for Cannabis, Hemp, or CBD Companies
Cannabis businesses have raised hundreds of millions of dollars in 2020, and these investments are expected to continue as the industry grows. Much of this sector demonstrates its resilience to recessions and pandemics, even being categorized as essential, as many states have been observing heightened demands. But even with these companies being recession-resistant, some find […]
Financial Forecasting Methods & Factors for Cannabis Businesses
Financial forecasting methods in cannabis are essential for success. The industry environment is continuously changing, and the right predictions can make it easier to navigate. Every business should utilize a financial forecast. This is especially true for those operating in cannabis. The cannabis sector is experiencing tremendous growth at the moment, with Investopedia reporting canna-companies […]
How to Vet a Cannabis CFO
A cannabis Chief Financial Officer (CFO) is one of the most crucial hires for any expanding cannabis company. As your business grows, so does its financial needs. But there’s more to it than that. The cannabis sector is characterized by irregular overhead expenses and regulatory compliance necessities. This being the case, knowing how to find […]
Cannabis Accounting: How to Find the Right Accountant
You already know the importance of cannabis accounting. But you’re wondering, “How can I find the right accountant for me?” The cannabis industry is expanding. With this exponential growth, we see regulations changing, and many cannabusiness operators need some help with their accounting. Between maintaining compliance and facilitating growth, cannabis accounting will contribute to your […]
Outsourced Cannabis CFO vs. Hiring In-House
Business operators often can’t help but wonder, “Should we hire a CFO or Controller, or should we try to do it ourselves?” However, there’s another option that’s often overlooked; outsourced cannabis CFO services. Managing finances is essential for any business. This is especially true for businesses that are growing. But up until around ten years […]
5 Benefits of Hiring a Fractional Cfo for Cannabis
Outsourcing a fractional Chief Financial Officer (CFO) is becoming more common in cannabis. As the economic downturn impacts operations around the country, finances become the top concern of cannabusiness operators. With the state of the economy, hiring a fractional CFO is now more than an option for some small business owners; it’s a necessity. However, […]
Cannabis SOPs & Compliance for Success
What are Standard Operating Procedures for Cannabis? As with almost every business, standard operating procedures for cannabis business operators ensures consistency. In an industry characterized by strict regulations and corresponding infractions, SOPs in the cannabis sector contribute to many operators’ success. From bookkeeping to inventory management and everything in between, SOPs are crucial for success […]
Cannabis Business Problems & How to Avoid Them
80% of startups fail within 18 months. This percentage is even higher for cannabis, especially when considering how cannabis business problems spark failure. Legalization is still maturing. This, in addition to the disparities from state to state and federal prohibition of cannabis, makes it increasingly challenging to maintain compliance with regulating forces. As with all […]
Cannabis Inventory Management Tips to Stay Compliant
Whether you’re stocking hundreds or thousands of cannabis products, cannabis inventory management and bookkeeping is essential for success in the cannabis sector. Operating in this industry means you need to know where your inventory is, how much you have available, and when you’ll need to restock. According to Wasp Barcode Technologies, 43 percent of small […]
How Expensive Is Expired Inventory in the Cannabis Industry?
No one thought it was possible when cannabis was first legalized, but there is a growing problem in the cannabis industry: expired inventory. Cannabis is, ultimately, a green and leafy plant. It conforms to all the rules of plant life, including the fact that it can go bad. Once you remove a cannabis bud from […]
What Is a Cannabis Brand’s Financial Liability for Customer’s Losses?
For every business, there is a liability. It should come as no surprise that the number of liability claims against the cannabis industry are on the rise. After all, the industry is growing and any business industry is a target for liability claims. The more business there is, the more financial liability claims there will […]
7 Ways to Earn the Interest of an Angel Investor
Every small business has needed capital at different stages of development. Whether you are starting a brand new cannabis business or growing your already existing cannabis business, you’ll need to explore all your options when it comes to funding. Currently, with all the rules and regulations of the cannabis industry, it can be difficult to […]
When to Use Cash-Based Accounting For Your Cannabis Business
‘Tis the season! Tax season, that is. And one thing that no one can argue with is that Cannabis tax laws are among the most complicated and intricate to comply with. With the unique phenomena where cannabis is illegal on the federal level, but legal at the state level, there is an interesting dynamic with […]
Increasing Cash Flow For Your Cannabis Business With a Sale Leaseback
Do you own a cannabis business? Then it’s no news to you that cash flow is one of the main, if not the main, issues for a cannabis business. That’s why owners of businesses like marijuana dispensaries, cannabis distributors, and cultivators are always on the lookout for new ways to solve the cash flow issue. […]
What Cannabis Businesses Can Learn About Section 280E
Opening and running a cannabis business in one of the legal states involves a unique set of obstacles and challenges. As any cannabis business owner knows, the ever-changing tapestry of cannabis laws can make it hard to stabilize the finances. There is a constant stream of new requirements for packaging, labeling, location, production, and now […]
Tax Requirements for a Los Angeles Cannabis Distributor
Every entrepreneur’s dream is to grow a successful business. For most, that means steadily increased sales and profits, with a healthy balance of income and expenses. As an LA-based distributor, increased sales and momentum comes with a catch—the more sales you get per month, the more complicated the tax requirements of your cannabis distribution company […]
Keeping Cash Flow for Cannabis Businesses
There’s a lot of material out there exploring why nine out of ten business and startups fail, and plenty case studies done on the businesses that made it. One theory is that entrepreneurs of successful businesses “failed fast.” They got all their mistakes out of the way in the beginning. Maybe that’ll work for a […]