| "The people who can show they can make money: Those are the people who will get offered a premium for their store if and when they decide to jump out of the business," said Anna Shreeve, president of Urban Paragon and The Bakeree. Above, Shreeve was joined onstage by (from left) Laurie Parfitt, Hope Wiseman, Sequoah Turner and Sean Hope. This was a common theme throughout the day: the idea of building a sound business with the goal of an inevitable (and lucrative) exit as the industry evolves.
In yesterday's How to Launch a Cannabis Dispensary workshop, Shreeve and her fellow panelists expounded on the tenets of running a good retail business, "good" meaning one that engages with its local community and turns a profit as quickly as possible after opening (though don't expect that in year one!).
Nick Jack, director of operations at All Good Collective in Colorado, added: “Challenges are inevitable in the cannabis industry. I think you need to know how to manage them and implement processes and procedures to manage them and prevent them from happening again. It’s not the big things that will take you out, it’s the day-to-day little things." |
