You say you want an e-commerce revolution?
Hoping to capitalize on the explosive growth of e-commerce sales, many cannabis companies are paving the way for next-generation sales and service – from online retail operations and product catalogs to drive-through pick-up options.
Although the e-commerce revolution promises rapid growth, fully exploiting the inbound sales and marketing opportunities requires a thorough understanding, as well as accurate forecasting, of the fast-evolving digital environment.
Disruption is a double-edged sword
In a rapidly changing economy, technology can disrupt the way you do business – for better and for worse. Northstar can help you navigate this volatile and uncertain landscape with proven strategies.
We’ll ensure that you’re ready to address challenges that include:
- Obtaining the right licenses to sell
- Payment methods (e.g., credit cards are not currently allowed)
- Understanding fully baked margins with additional cost related to fulfillment / delivery
- Barriers to entry
- Understanding what’s deductible from a tax / 280E perspective
Our accountants will prepare your business evolution
- We understand the current ecommerce landscape as it relates to cannabis, including what you can and cannot sell online.
- We will identify potential products and product categories to maximize your ecommerce sales, including hemp, CBD-based items, and other cannabis-related products.
- We’ll create a simplified, compliant workflow for payment, shipping, and recording.
- We’ll seek all deductions and credits for which you’re eligible while staying in-step with 280E and other tax codes and regulations.
- We follow proper accounting and tax guidelines when dealing with online retailers and sales platforms.
If you’re thinking of moving into ecommerce — or have already launched a digital business — contact us today.