Kaya Cast

In this episode of Kaya Cast, we delve deep into the mind of a top cannabis industry investor, Scott Grossman, the strategic force behind Turning Point Brands. With a rich background in investment banking and extensive experience in both private and public equity, Scott brings unparalleled insights into what really catches an investor's eye in the burgeoning cannabis market.What You'll Learn:- Investment Strategies: Scott outlines his approach to evaluating cannabis businesses, emphasizing the importance of a solid team and a clear understanding of the market problem the business intends to solve.- Essential Business Qualities: Discover the key attributes Scott believes are vital for a business to attract investment, including direct experience, operational understanding, and a compelling value proposition.- Advice for Entrepreneurs: Scott provides actionable advice for cannabis entrepreneurs on what to consider when approaching investors, how to demonstrate potential for scalability and defendability in the market.- Navigating Challenges: Learn about the nuances of investment in the volatile cannabis industry and how businesses can position themselves to be more attractive for investment.- Insider Insights: Gain insights from Scott’s robust experience on mistakes to avoid and strategies to employ when seeking funds to ensure your business not only survives but thrives in competitive markets.This episode is a goldmine for any cannabis entrepreneur aiming to understand the investor’s perspective deeply. Scott not only shares what attracts investment but also discusses common pitfalls and the resilience required to succeed. Whether you're preparing for your initial pitch or looking to expand, Scott’s expert advice could potentially pivot your business strategy towards greater success.Make sure to tune in to this insightful conversation full of actionable strategies that could help elevate your cannabis business to the next level!Available on: Apple Podcasts, Spotify, and wherever else you love to listen. Subscribe to Kaya Cast Podcast for more insights on growing and scaling your cannabis business successfully. Highlights00:00 Introduction to KayaCast00:20 Meet Scott Grossman: Investment Insights00:59 Key Factors for Investment: The Team05:06 Retail Experience and Unique Value Propositions09:29 Top Qualities for Entrepreneurs14:32 The Importance of Resiliency17:35 Raising Capital: Strategy and Execution20:33 Building Prototypes and Demonstrating Value23:30 Understanding Your Customer Base24:04 Raising Capital: Key Considerations27:01 Building a Cannabis Brand29:16 Finding Investors in the Cannabis Industry35:50 Crafting the Perfect Elevator Pitch37:04 Evaluating Investors and Metrics43:25 Personal Investment Insights45:30 Final Thoughts and Contact InformationFind out more about Turning Point Brands, Inc at:https://www.turningpointbrands.com/home/default.aspxhttps://www.linkedin.com/company/turning-point-brands-inc./#kayacast

In this enlightening episode of Kaya Cast, we sit down with Jeffrey Hoffman, the experienced New York cannabis attorney and the mind behind Jeffrey Hoffman & Associates PLLC. With a wealth of knowledge drawn from his extensive legal practice and his popular 420 talk on LinkedIn, Jeffrey provides invaluable advice for newcomers and seasoned cannabis entrepreneurs alike.Why are there so many lawsuits in the cannabis industry? How can you safeguard your cannabis business against legal pitfalls? Jeffrey dives deep into the common legal mistakes made by cannabis business owners and shares key tips on how to navigate the complex regulatory environment in New York. He explains the critical importance of working with experienced legal professionals to avoid costly errors, specific to cannabis business requirements such as the nuances in lease agreements and federal law compliance.Moreover, Jeffrey discusses the implications of not fulfilling the LLC publication requirement in New York, a seemingly small oversight that can have substantial legal consequences. He also gives practical advice on selecting a cannabis attorney who truly understands the intricacies of the industry, helping to prevent litigation and ensure your business operates within the legal framework.Whether you're planning to open a new dispensary or scale your existing operations, this episode is packed with essential insights that will assist you in making informed decisions and steering clear of common yet avoidable legal issues. Tune in to arm yourself with the knowledge you need to succeed in the competitive cannabis market of New York.Availability: Stream this episode on Spotify, Apple Podcasts, or directly from our website. Don’t forget to subscribe for more insightful discussions designed to help you grow your cannabis business responsibly and lucratively. Find out more about Jeffrey Hoffman & Associates PLLC at:https://www.420jurist.com/https://www.linkedin.com/in/heavyj/Highlights:00:00 Introduction to Cannabis Industry Lawsuits01:01 Common Legal Mistakes in Cannabis Startups02:18 Understanding Legal Requirements for Cannabis Businesses05:40 Navigating Lease and Mortgage Challenges10:11 Choosing the Right Legal Support14:04 Complexities of Cannabis Deals and Regulations15:34 The Impact of Regulations and Lawsuits20:00 The Role of Attorneys in the Cannabis Industry22:01 The Litigation Process and Its Implications22:56 The Importance of Legal Counsel23:31 Navigating Regulatory Changes24:01 Opening a Cannabis Store: Key Considerations25:34 Understanding New York's Two-Tier System28:54 Employee Regulations in the Cannabis Industry30:06 Outsourcing and Legal Complexities33:48 Current State of the New York Cannabis Market37:49 Challenges with the Illicit Market41:34 Conclusion and Contact Information#kayacast #newyork #dispensary #cannabis

Welcome back to another insightful episode of the Kaya Cast Podcast, where we bridge the gap between the rapidly evolving cannabis industry and the world of business. Today, we're joined by Peter Su, a seasoned veteran in the banking sector with a unique specialty: he's launched not one, not two, but three successful cannabis banking programs. His latest endeavor at Hanover Bank aims to treat cannabis businesses just like any other, striving to remove the stigma and operational hurdles that many face today.In this episode, Peter shares his wealth of knowledge on what cannabis businesses should look for in a banking partner, the everyday challenges of financing in the industry, and how Hanover Bank is setting itself apart by providing comprehensive, normalized banking services to cannabis operators. Plus, he offers invaluable advice for individuals in the cannabis sector struggling to access financial services like loans or mortgages.If you've ever been curious about the financial nuances of the cannabis industry or are seeking practical advice on overcoming banking barriers, this episode is a must-listen. Join us as Peter lends his expert insights to help demystify cannabis banking, revealing both the progress made and the paths forward for businesses and individuals alike.Key Points We’ll Cover:- Criteria for selecting a cannabis-friendly bank- The unique challenges and solutions in cannabis banking from Peter’s perspective- Practical advice for cannabis industry workers navigating personal banking and loans- The vision and future plans for Hanover Bank in the cannabis banking space- An insightful discussion on the Asian Cannabis Roundtable and its role in changing perceptions and fostering community within the industryEnjoy this episode for a clearer understanding of how banking can support the growth and normalization of the cannabis industry. Don't forget to subscribe to our podcast for more expert discussions like this, and visit our website for an archive of past episodes. Happy listening!00:00 Introduction to KayaCast00:16 Guest Introduction: Peter SU from Hanover Bank00:58 Cannabis Banking Experience01:22 Challenges in Cannabis Banking02:58 Treating Cannabis Businesses Like Normal Businesses06:11 Advice for Cannabis Industry Employees11:37 Personal Banking for Cannabis Industry Workers14:54 Future of Cannabis Banking at Hanover25:28 Asian Cannabis Roundtable29:49 Conclusion and Contact Information30:44 Thank You and Podcast InformationAvailable on all major podcast platforms. Subscribe on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app to never miss an episode.---  Tune in, learn, and leverage these insights to help your cannabis business thrive in a complex landscape! Find out more about Hanover Bank at:https://www.linkedin.com/in/petersu/https://www.linkedin.com/company/hanoverbank/#KayaCast #CannabisIndustry #Business #Banking #HanoverBank #CannabisBanking #FinancialServices #IndustryInsights #AsianCannabisRoundtable #Community #ExpertAdvice #SpecialtyBanking #CannabisFinancing #Mortgages #Loans #NormalizingCannabis #DemystifyingBanking #Growth #Progress #Subscribe #ExpertDiscussions #Podcast #Insights #Episode #WelcomeBack #SeasonedVeteran #BridgeTheGap #CannabisAndBusiness #Stigma #OperationalHurdles #Success #ThreePrograms #TreatingCannabisBusinesses #Criteria #Selection #Challenges #Solutions #PracticalAdvice #PersonalBanking #AsianCommunity #ChangingPerceptions #FosteringCommunity #GrowthAndNormalization #ComplexLandscape #Thrive #ExpertInsights #HappyListening

In this unmissable episode of Kaya Cast, we sit down with Tim Gunther of ILoveCompliance.biz, bringing over nine years of expertise in steering cannabis businesses towards foolproof compliance. Tim delves deep into the common pitfalls in cannabis regulations, sharing his wealth of knowledge on straightforward yet overlooked practices that can safeguard your operation from hefty fines and regulatory headaches.Discover practical advice on managing video retention, inventory protocols, and the intricate changes of ownership that could potentially save your business tens of thousands of dollars. Tim also illuminates how better understanding your state's regulators and their requirements can transform them from foes to allies in your business journey.Moreover, learn the ins and outs of maintaining employee compliance training records, the significance of your relationship with inspectors, and harnessing public records of fines as learning tools to stay ahead. Tim doesn't just highlight problems but provides actionable solutions, advocating for regular audits, the strategic use of technology, and fostering a proactive compliance culture.Whether you're a new dispensary owner drafting your first SOPs or a seasoned operator, this episode is packed with invaluable insights to help you navigate the regulatory landscape effectively, ensuring your business not only survives but thrives in the challenging yet rewarding world of cannabis.Tune in to gain a competitive edge by mastering the art of compliance with expert insights from Tim Gunther. Subscribe to the Kaya Cast on your favorite podcast platform to never miss an episode on powering up your cannabis business! Find out more about ILoveCompliance.Biz at:https://ilovecompliance.biz/https://www.linkedin.com/company/ilovecompliance/https://www.instagram.com/ilovecompliance/Highlights:00:00 Introduction to KayaCast and Compliance Challenges00:24 Guest Introduction: Tim Gunther from I Love Compliance01:13 Common Compliance Violations in the Cannabis Industry04:45 Understanding State Regulations and Staying Updated07:45 Learning from Fines and Sanctions11:03 Best Practices for Compliance and Vendor Selection16:47 Writing Effective SOPs and Ensuring Compliance22:40 Training Managers to Use Camera Systems24:39 Importance of Self-Reporting26:31 Building a Culture of Compliance30:34 Understanding Your Inspectors34:47 Writing Effective SOPs38:02 Best Practices for Document Management41:47 Conclusion and Final Thoughts#kayacast #cannabis #compliance

In this enriching episode of the Kaya Cast Podcast, we're thrilled to have Carlo Manabat, the founder of Kuya, joining us to explore the transformative role of customer data in the cannabis industry. With a rich background in helping cannabis businesses enhance their market presence through strategic branding and market research, Carlo brings invaluable insights into the art of understanding and leveraging customer data for substantial business growth.Discover:- How Carlo's journey with his company, Blaze, and Kuya has reshaped his approach to the cannabis retail and CPG landscape.- Practical tips on persona building and how to translate demographic insights into effective business strategies.- The importance of aligning product offerings and marketing messages with your core customer base to enhance visibility and sales.- A step-by-step discussion on performing effective market research, mapping customer profiles, and interpreting demographic data to make informed business decisions.- How Carlo has assisted dispensaries in optimizing their product mix and partnerships to cater precisely to their customer's lifestyles, resulting in significant revenue boosts.Whether you're a new dispensary owner or looking to scale your existing cannabis business, Carlo's expertise will guide you through utilizing customer data not just for better marketing, but for crafting a consumer experience that resonates well with your target audience. Tune in and transform the way you see and use customer data in your cannabis venture!00:00 Introduction to KayaCast00:26 Guest Introduction: Carlo from Dream Project00:49 Carlo's Insights on Cannabis Retail04:12 Understanding Customer Personas06:21 Market Research for Dispensaries08:45 Leveraging Demographic Data10:49 Building Customer Profiles18:53 Optimizing Marketing Strategies32:26 Case Study: Increasing Sales by 15%46:13 The Importance of Data in Cannabis Business50:54 Conclusion and Contact InformationRemember to subscribe to our podcast on your favorite platform and never miss an episode that could help you grow and scale in the competitive cannabis industry! Find out more about Kuya at:https://www.hikuya.com/https://www.linkedin.com/in/cmanabat/https://www.linkedin.com/company/hikuya/#KayaCastPodcast #CannabisIndustry #CustomerData #TransformativeInsights #MarketResearch #PersonaBuilding #EffectiveStrategies #OptimizingMarketing #BoostingRevenue #CannabisRetail #CPG #DemographicData #BusinessGrowth #CustomerProfiles #DispensaryOwners #ScalingBusiness #ConsumerExperience #TargetAudience #UtilizingData #CannabisVenture

Welcome back to another informative episode of the Kaya Cast Podcast, the go-to resource for cannabis dispensaries aiming to expand their influence and success in the industry. In this episode, we dive further in with Wesley Hein, a seasoned cannabis executive and head of Corporate Development and M&A at Mammoth Distribution. Discover the unique dynamics of the hemp market and its evolving role relative to the broader cannabis industry. Wesley provides an insider’s perspective on how, despite being fundamentally a cannabis company, the developments in the hemp sector are influencing strategies and perceptions in the markets where Mammoth operates, including California, New York, and Illinois.Delve into the complex relationship between cannabis and its cousin hemp, as Wesley explains the regulatory landscapes, market challenges, and the unintended consequences of hemp’s rapid growth. He shares critical insights on how the hemp industry is navigating through its 'wild west' phase much like the early days of cannabis, and the implications this has on regulation and market stability.Moreover, Wesley peels back the layers on the burgeoning sector of cannabis-infused beverages. He discusses the surprising boost in beverage sales against the backdrop of hemp’s influence and how savvy branding and distribution strategies are overcoming stigma and logistical hurdles. In a market faced with both skepticism and opportunity, learn about the potential pathway for hemp in California and the broader implications for cannabis operators and manufacturers looking to innovate while adhering to shifting regulatory demands.Whether you're an industry veteran or a newcomer navigating the complexities of the cannabis business, this episode offers valuable perspectives on managing growth amidst chaos, capitalizing on emerging market segments, and strategizing for future expansions.Stay tuned to the end for Wesley’s outlook on where he sees hemp and cannabis beverages heading, and what this could mean for dispensary owners looking to diversify their product offerings.As always, thank you for joining us on the Kaya Cast Podcast. Don’t forget to subscribe to stay updated on the latest trends and strategies that can help propel your cannabis business forward. Until next time, keep growing and thriving in the cannabis industry. Find out more about Mammoth Distribution at:https://www.linkedin.com/company/mammothdistribution/https://www.linkedin.com/in/wesleyhein/Highlights:00:00 Introduction to KayaCast and Guest Wesley Hein00:30 Current State of the Hemp Market03:03 Hemp's Impact on the Cannabis Industry06:02 Challenges and Opportunities in Hemp and Cannabis07:27 Regulatory Landscape and Future Predictions16:58 The Potential of Cannabis Beverages19:30 Conclusion and Farewell #KayaCastPodcast #CannabisDispensaries #IndustryInsights #CorporateDevelopment #MergersAndAcquisitions #HempMarket #CannabisIndustry #CaliforniaCannabis #NewYorkCannabis #IllinoisCannabis #RegulatoryLandscapes #MarketChallenges #HempGrowth #WildWestPhase #CannabisBeverages #BeverageSales #BrandingStrategies #DistributionStrategies #Stigma #LogisticalHurdles #MarketStability #CaliforniaHemp #CannabisInnovation #RegulatoryDemands #IndustryPerspectives #DispensaryOwners #ProductDiversification #StayTuned #CannabisGrowth #KayaCommunity #CannabisNews #IndustryUpdates #CannabisBusiness #GrowAndThrive.

In this insightful episode of the Kaya Cast Podcast, we sit down with Jessica Martin, the dynamic COO of The Higher Path, a standout cannabis dispensary nestled in the bustling market of California. With over a decade of experience in the evolving cannabis industry, Jessica shares how her business has not only survived but thrived amidst intense competition, rigorous regulations, and the persistent challenge of the illicit market.Join us as we delve into the strategies that have propelled The Higher Path to success, including exceptional community engagement, strategic brand positioning, and a unique focus on creating an inviting and memorable customer experience. Jessica reveals how these efforts have helped forge a powerful connection with both local customers and tourists alike, turning their dispensary into a must-visit location in Hollywood.We also explore the significant shifts in industry challenges over the years, from gaining acceptance in the early days to competing with unregulated shops and adapting to ever-changing regulations. Moreover, Jessica provides a rare glimpse into the hiring strategies that ensure they not only choose the right team members but also foster continual growth and job satisfaction, contributing to the dispensary's vibrant workplace culture and high staff retention rates.Learn from Jessica’s valuable perspectives on leadership in the cannabis industry, the importance of community involvement, and how a thoughtful approach to business operations can lead to enduring success. Whether you’re a veteran in the cannabis business or just starting out, this episode is packed with actionable insights to help you navigate the complexities of the cannabis market.Tune in now to discover how to make your mark in one of the most competitive industries today! Stay tuned for more episodes where we bring together industry leaders and experts in the cannabis space.  Find out more about The Higher Path at:https://www.linkedin.com/company/the-higher-path-la/https://thehigherpath.com/https://www.instagram.com/thehigherpathshop/?hl=en#kayacast #podcast #realestate #higherpath #cannabisindustry #businesstips

In this enlightening episode of Kaya Cast, we sit down with Wesley Hein, a seasoned expert from Mammoth Distribution, to delve into effective strategies for cannabis retailers. Wesley brings his rich background in the music industry and detailed knowledge of the cannabis supply chain to share invaluable insights on navigating the complexities of the market.Topics we cover include:- Supplier-Retailer Dynamics: Learn how retailers can leverage supplier relationships to enhance their business, avoid common pitfalls in pricing strategies, and why maintaining strong connections with suppliers is crucial for success.- Pricing vs. Value: Wesley discusses why lowering prices isn't always the best move and shares an interesting perspective comparing the cannabis industry to other sectors, illustrating how strategic pricing can significantly impact sales.- Promoting Difficulty Selling SKUs: Discover creative ways to push products that are slow on sales without resorting to discounts. Wesley emphasizes the importance of in-store education and engaging directly with consumers to enhance product velocity.- Staff Training Tips: Crucial strategies for retailers on how they can work with suppliers to provide compelling, effective training for their teams.- Ground Game in Marketing: What does a strong ground marketing game look like? Wesley explains the need for a robust, hands-on approach in a highly competitive space like California.- Future Plans for Mammoth: Wesley shares exciting developments at Mammoth Distribution, including expansion plans and strategic acquisitions aimed at enhancing innovation and product diversity.Tune into this episode for a deep dive into mastering cannabis retail strategies with one of the industry's most dynamic figures. Whether you are a new dispensary or looking to scale up, Wesley’s insights will guide you in the right direction.Stream Now on Spotify, Apple Podcasts, or your favorite podcast platform! Don’t forget to subscribe to Kaya Cast for more insightful episodes aimed at helping you thrive in the cannabis industry. Find out more about Mammoth Distribution at:https://www.linkedin.com/company/mammothdistribution/https://www.linkedin.com/in/wesleyhein/Highlights00:00 Introduction and Welcome00:16 Challenges Faced by Retailers00:59 Pricing Strategies in Retail02:54 Supplier and Retailer Dynamics07:25 Training and Educating Staff14:43 California Market Insights20:07 Future Plans and Innovations25:18 Closing Remarks and Contact Information#KayaCast #CannabisRetail #WesleyHein #MammothDistribution #SupplierRetailerDynamics #PricingVsValue #PromotingDifficultySellingSKUs #StaffTrainingTips #GroundGameMarketing #FuturePlansMammoth #CannabisIndustry #DispensaryTips #ScalingUp #InsightfulEpisodes #Podcast #CannabisCommunity #RetailStrategies #Innovation #ProductDiversity #ExpertAdvice #MarketComplexities #SupplierRelationships #CompetitiveSpace #CaliforniaCannabis #StreamNow #Subscribe #ApplePodcasts #Spotify #FavoritePodcastPlatform

In this riveting episode of the Kaya Cast Podcast, we sit down with the indefatigable Precious Osagie Erese, the mastermind behind PRECIOUS Canna Co., a trailblazing cannabis brand making waves in the New Jersey area. Dive deep into Precious's journey through the tumultuous waters of the cannabis industry, from her initial forays with Roll Up Life, a delivery platform concept, to the hard-earned establishment of her own brand after facing formidable challenges in licensing and market entry.Discover how Precious navigated the complex landscape of business pitches, investor relations, and regulatory hurdles, and how a crushing setback led to the birth of Precious Canna Co., a brand dedicated to luxury, quality, and representation. This episode isn't just a story about cannabis—it's about resilience, community impact, and the fight for equity within the industry.Precious shares valuable insights on securing shelf space, engaging with investors, and building a brand that resonates with a diverse audience. Her story is a powerful reminder of the passion and perseverance necessary to succeed in the fast-evolving cannabis market.Perfect for cannabis entrepreneurs and enthusiasts, this conversation sheds light on the nuances of building a cannabis business from the ground up. Tune in to gain inspiration and actionable advice from one of the industry's most determined and visionary leaders.Subscribe to the Kaya Cast Podcast for more empowering stories and expert insights into the cannabis industry, helping you grow and scale your cannabis business.  Find out more about PRECIOUS Canna Co. at:https://www.preciouscannaco.com/https://www.instagram.com/preciouscannaco/https://www.linkedin.com/company/precious-luxury-brand/https://www.linkedin.com/in/preciousosagieerese/ #KayaCastPodcast #PreciousCannaCo #CannabisEntrepreneur #CannabisIndustryInsights #ResilienceInBusiness #CommunityImpact #EquityInCannabis #LuxuryCannabis #QualityCannabis #RepresentationMatters #NavigatingRegulatoryHurdles #BuildingABrand #DiverseAudience #CannabisEntrepreneurship #PassionAndPerseverance #GrowingCannabisBusinesses #ExpertInsights #CannabisMarket #TrailblazingBrand #CannabisJourney #InvestorRelations #ShelfSpaceSecrets #TuneInForInspiration #VisionaryLeader #CannabisEnthusiasts #FastEvolvingMarket #ActionableAdvice #SuccessStories #CannabisEmpowerment.

What’s happening in the emerging cannabis markets? In this week’s episode of the Kaya Cast, we discuss the latest developments in the US with expert Hirsh Jain of Ananda Strategy.The cannabis landscape in the U.S. is changing rapidly, with 24 states now allowing adult-use cannabis. Hirsh shares insights on why Ohio, Pennsylvania, and Florida are the next big catalysts in the industry, each with unique circumstances and timelines for legalization.We dive into Ohio's upcoming adult-use sales in early August, making it the first major red Republican state to adopt such measures. Ohio’s move is a significant milestone, showing bipartisan support for cannabis legalization and setting a precedent for other conservative states.We also explore the surprising yet impactful example of Mississippi. With around 70% of the vote for its medical cannabis ballot measure, Mississippi demonstrates the broad bipartisan appeal of cannabis, even in conservative regions. The state's open structure and rapid patient registration highlight its successful approach, contrasting with struggles in other Deep South states.Lastly, we turn to Florida, where a pivotal vote in November could legalize adult-use cannabis. Despite requiring a 60% threshold and facing opposition from Governor Ron DeSantis, polling and historical support for medical cannabis suggest a favorable outcome. With 900,000 medical cannabis patients and a robust market, Florida could soon become a leading state in the cannabis industry.Join us as we explore the exciting potential of these emerging markets and what they mean for the future of the cannabis industry. Find out more about Ananda Strategy at:https://www.anandastrategy.com/https://www.instagram.com/anandastrategy/https://x.com/anandastrategyhttps://www.linkedin.com/in/hirsh-jain-b896b080/Highlights00:00 Introduction to the Cannabis Industry01:29 Ohio's Impact on Cannabis Legalization09:53 Florida's Upcoming Cannabis Vote21:31 Challenges in Pennsylvania's Legalization Efforts25:15 Minnesota's Unique Approach to Cannabis26:52 Hemp Beverages: A New Trend in Minnesota27:52 The Role of Beverages in Cannabis Adoption28:41 Minnesota's Unique Approach to Cannabis Regulation29:11 The Impact of Minnesota's Licensing System29:55 Neighboring States and Cannabis Legalization31:48 The Future of Cannabis Legalization in the U.S.37:00 The Rescheduling Process and Its Implications44:24 The Safer Banking Act and Its Prospects46:38 Challenges and Advice for Cannabis Entrepreneurs49:12 Hirsh's Work Across Different States52:19 Conclusion and Contact Information#cannabiscommunity #kayacast #podcast #businesstips #election #usa

Welcome to the Kaya Cast, the podcast for cannabis businesses looking to launch, grow, and scale their operations. In this episode, we dive deep into inventory controls with Aly from Budding Operations, who brings over 12 years of experience in the cannabis industry. Learn best practices for receiving inventory, managing accounts, and preparing for regulatory audits. Aly shares insights on assessing staff capacity, structuring your backend team, and hiring the right candidates. If you have questions about your dispensary's back-of-house operations, this episode is for you. Tune in for expert advice to streamline your inventory processes! Highlights00:00 Introduction to Inventory Controls00:13 Guest Introduction: Aly from Budding Operations00:47 Assessing Staff Capacity and Adequacy01:12 Staffing Models: Fulfillment vs. Deli Style02:06 Roles and Responsibilities in Inventory Management03:00 Hiring for Inventory Roles04:14 Industries with Transferable Skills04:55 Scheduling and Adequate Staffing07:51 Receiving Inventory Best Practices09:37 Controlling Theft and Inventory Counts14:09 Key Performance Indicators (KPIs) for Inventory28:27 Training and Compliance31:38 State Inspection Audits35:00 Conclusion and Contact Information Find out more about Budding Operations at:https://www.buddingoperations.com/https://www.instagram.com/buddingoperationscompliance/https://www.linkedin.com/company/budding-operations/https://www.youtube.com/@UCwI4AdR1L1jCYI8KNzDxLEg Subscribe and listen to our podcast on any platform!#cannabisindustry #podcast #kayacast #businesstips #cannabisdispensary

Welcome to another enlightening episode of the KayaCast Podcast, your go-to source for all things cannabis business. In today’s show, we’re thrilled to have Tommy Truong from KayaPush join us to explore the intricate process of scaling your dispensary. Whether you're a budding entrepreneur or a seasoned business owner looking to expand, this episode packs a wealth of invaluable insights.Tommy breaks down the three critical stages of business growth, starting from being a jack-of-all-trades in the startup phase to reaching the pinnacle where your team outshines even yourself. He delves into the importance of understanding your business through the major processes that drive your store, assessing your team, and ensuring you have the right people to support your expansion.Among the core topics discussed, Tommy emphasizes the vital practice of slowing down to build a robust foundation for growth. He shares strategic exercises to assess your current operations and team, helping you identify strengths, weaknesses, and key performance indicators that are essential before considering expansion.For more insights and resources, don't forget to subscribe to the KayaCast Podcast on your favorite podcast platform and visit our website for the full archive of episodes. Get ready to take your cannabis business to the next level!If you enjoyed this episode and you’re looking to expand your cannabis business, remember to like or subscribe wherever you’re listening. Your support greatly helps broaden our community and reach more cannabis entrepreneurs like yourself. Find out more about KayaPush at:https://www.instagram.com/kayapush/https://www.kayapush.com/podcast-episodes #KayaCastPodcast #CannabisBusinessInsights #TommyTruong #KayaPush #ScalingYourDispensary #EntrepreneurTips #BusinessGrowthStrategies #TeamAssessment #BuildingABusinessFoundation #KeyPerformanceIndicators #CannabisEntrepreneurCommunity #ExpandingYourBusiness #CannabisIndustryInsights #TeamBuilding #StartupPhase #BusinessJourney #GrowYourDispensary #CannabisIndustryExperts #EntrepreneurSupport #PodcastCommunity #CannabisEntrepreneurship

Celebrate two years of insightful cannabis business conversations with us on this very special episode of the Kaya Cast Podcast. In this episode, host Tommy Truong shares riveting stories from his diverse entrepreneurial background and dives deep into what it takes to not only survive but thrive in the cannabis industry.Tommy takes us on a journey through his early beginnings in the Dungeness crab distribution business - a venture that taught him the harsh realities of commodity markets and the importance of having control over supply and differentiation. His shift from seafood to software is a testament to adaptive business strategies and finding niches where one can truly make an impact.For those looking to enter the cannabis industry, Tommy offers invaluable advice. From steering clear of predatory consultancy practices to meticulously planning your business strategy, he lays down foundational guidelines that every aspiring cannabis entrepreneur needs to hear.Moreover, Tommy reflects on the importance of choosing the right business partner and aligning on work ethic, financial goals, and visions for the future. His insights into maintaining a lean operation that can quickly reach breakeven are golden nuggets for anyone at the launching pad of their cannabis venture.Join us for this enriching episode to gain a better understanding of the business acumen required in the cannabis industry, directly from a seasoned entrepreneur. Whether you are a fledgling startup or looking to scale, there’s something in this episode for every cannabis business enthusiast.Subscribe to Kaya Cast Podcast on Apple Podcasts, Spotify, or your favorite podcast platform.Highlights00:00 Introduction and Anniversary Celebration00:15 Answering Your Questions00:58 Lessons from My First Business05:17 Advice for Aspiring Cannabis Entrepreneurs08:35 Reflections on Podcasting and Future Plans09:13 Closing Remarks and Thank You#kayacast #entrepreneur #cannabisindustry #businesstips

Launching a cannabis dispensary comes with its set of challenges, and managing inventory can be particularly daunting. In today's episode of KayaCast, we sit down with Ameel Bachir – a seasoned cannabis retail strategist from Forte Operations, who has an extensive background in developing successful inventory systems for cannabis retailers, including his pivotal role at Tokyo Smoke. Ameel shares invaluable insights into starting strong with the right inventory investment, selecting a product mix that caters to every kind of cannabis consumer, and adjusting your stock based on market response. He reveals the key percentage of budget to allocate towards inventory initial stocking and talks through the processes of selecting cannabis brands, considering market data, and understanding customer needs to optimize retail offerings.Learn strategies for differentiating your dispensary through inventory selection, how to adjust your stock wisely, and why it’s crucial to train your staff on the nuances of your product offerings to boost sales. Ameel also touches on handling legacy versus novelty products and tips for profiling different customer types to ensure your dispensary meets a wide range of consumer preferences.Whether you're a new dispensary owner curious about how much to invest initially, or an existing retailer looking to refine your inventory strategies, this episode provides actionable advice that you can implement right away.Don't miss these expert insights on scaling your cannabis business efficiently through strategic inventory management. Tune in now!Thank you for tuning into the KayaCast Podcast - your go-to guide on all things cannabis retail. Find out more about Forte Operations at:https://forteops.com/https://www.linkedin.com/company/forte-operations/https://www.instagram.com/forteops/?__d=11https://www.linkedin.com/in/ameelbachir/#cannabisindustry #kayacast #businesstips #businessgrowth #entrepreneur00:00 Introduction to Dispensary Challenges00:09 Meet Ameel: Cannabis Inventory Expert01:03 Initial Inventory Investment Strategies03:03 Choosing the Right Cannabis Brands05:16 Balancing Traditional and Innovative Products07:04 Determining the Right Number of SKUs09:20 Inventory Turnover and Supplier Relationships10:56 Creating a Healthy Product Mix14:21 Pricing Strategies and Loss Leaders17:05 Profiling Your Customers22:32 Competing with Grey Market Stores24:35 Existing vs. Emerging Markets28:51 Challenges with Product Availability29:41 Identifying Slow-Moving Products32:23 Effective Product Display Strategies38:02 Training Employees to Upsell41:30 Planning for Inventory Growth50:33 Adapting to Customer Feedback51:26 Conclusion and Contact Information

Welcome to another enlightening episode of the Kaya Cast Podcast, the go-to resource for cannabis dispensary owners aiming to expand and refine their ventures. Today, Brytany Melville from Forte Operations joins us to unravel the complexities of launching your very first cannabis store. With her extensive experience since 2018, Brytany has ushered numerous dispensaries into profitable operations and today, she shares her wealth of knowledge tailored for both budding and seasoned dispensary entrepreneurs.In this episode, we dive deep into the critical decisions that shape the success of a dispensary, from selecting the perfect location and sizing it right to staffing and future-proofing the design. Learn the significance of a meticulously planned build-out, as Brytany reveals why a 1,500 to 1,750 square foot layout might just be your sweet spot, or how even a 450 square foot space can churn substantial revenue with robust operations.Discover the nuances of market saturation, operational costs, and how innovative branding and marketing strategies can avert potential pitfalls in the initial 90 days post-launch. Brytany also touches on the challenges and lesser-known realities of cannabis consumption spaces, sharing insights that could redefine your approach to incorporating these in your business model.Join us as Brytany unpacks the steps to navigate the milestones from lease signing to the grand opening, ensuring you're not just opening a dispensary, but crafting a resilient business designed to thrive in an ever-evolving industry. This episode is packed with actionable strategies, professional anecdotes, and foundational advice paramount for anyone gearing up to make their mark in the cannabis retail space.Don’t miss out on this must-listen episode for invaluable insights that might just be the key to unlocking the potential of your cannabis dispensary. Tune in now and equip yourself with the knowledge to build, launch, and scale successfully.Available on Spotify, Apple Podcasts, and wherever you get your podcasts.Chapters:00:00 Introduction to Opening Your First Store00:15 Guest Introduction: Brytany from Forte01:00 How to Choose the Right Location03:18 Considerations for Consumption Lounges06:18 Planning Your Store Build-Out07:37 Major Milestones Before Opening09:49 Avoid these Common Build-Out Mistakes13:02 Future-Proofing Your Layout18:56 Hiring and Team Building Correctly33:03 Marketing Strategies and Brand Development41:34 Post-Opening Marketing and Sales Strategies48:58 Conclusion and Where to Find Forte Find out more about Forte Operations at:https://forteops.com/https://www.linkedin.com/company/forte-operations/https://www.instagram.com/forteops/?__d=11#kayacastpodcast #cannabisindustry #businessgrowth #entrepreneur #profitmargin #businesstips #startup