Kristen Corral

I entered the cannabis industry full time in 2004. It wasn’t easy, there was no career path, opportunities were limited and I made a lot of mistakes. I was bright eyed, ignorant and willing to risk it all for a chance to work with this amazing plant. But my experiences taught me how to set realistic expectations, measure success and evaluate cannabis businesses. Today I cherish the opportunity to help others make informed decisions about the allocation of their resources and avoid bad investments. Sometimes it’s obvious and sometimes you need a little perspective to make sure you can achieve your goals. How much effort, money and time are you willing to put in? Before you build your business boat, make sure you know what you are getting into. #cannabisbusiness

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When is the best time to get into the #cannabis business? Right. F*cking. Now Those of us who are truly bullish on the #cannabisindustry see a bright future ahead Sure, we are certainly going through a challenging time now, but it won't last forever If there are brighter days ahead, and you're wanting to start or buy a cannabis company, there's no better time than now Here are a few of my thoughts on why 1. If you enter the space in a bear market, you have no choice but to run lean. Operating during a challenging time becomes your norm, and when markets improve, you reap the benefits. Many of the greatest companies in the US were started during recessionary times. 2. You couldn't build a company for what you can buy one for right now, and there will never be a better time to get creative with financing. Many operators who have been struggling for 4-5 years just want out. They want to be relieved of their stress and financial burden and will do deals on assets that are quite favorable to the buyer. 3. Sometimes a fresh set of eyes is exactly what a company needs to take off. Struggling operators get stuck in the rut of trying to survive. If you see an opportunity to tweak a business model or make operational changes that will change the course of a business, there might be an opportunity there. Should everyone go out and buy a cannabis business right now? Not at all. This is a brutal game and the stakes are incredibly high But, if you're planning to get in, or wanting to expand There's no time like the present In the words of the great Warren Buffet "Be fearful when others are greedy and be greedy when others are fearful"

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Why Don’t We Rely on Traditional Marketing? 🤷🏻‍♀️ Not once will I mention being censored on most marketing platforms (even tho we deal with that burden, it’s not the reason) At Cannabis Research Coalition, we’ve been fortunate to experience steady growth not through aggressive marketing campaigns, but through referrals and strong #Cannabisindustry relationships. As a research-driven organization focused on cannabis cultivation, our reputation speaks for itself, and we’re proud that most of our business comes from word of mouth. Why Does This Work for Us? 💪🏽 • We offer niche expertise in cannabis #cultivationresearch, such as our work in areas of independent #Validation studies, Contract research, #consulting and member driven/prioritized research projects • Our collaborations with industry leaders like Willow Industries, Sollum Technologies Cannatrol Grow Strong Industries that allow us to consistently innovate and share practical, data-driven insights with the cannabis community. • The #trust and #credibility we’ve built over the 🐕‍🦺years of time have made us a go-to resource for cultivators looking for #sciencebacked solutions to their toughest #cannabisCultivation challenges. • #CFO’s rely on their team to find groups like the CRC who can help save time & #money in their operations Lastly, those who know and have worked with Allison Justice, PhD. & I know we are commited to helping the industry and not going to be a waste of your time by working with us. We will underpromise and overdeliver! we are excited for our growth and expansion of our #CannabisResearchCenter in #SouthCarolina

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"More than 30% of the marijuana vape pens and edibles his lab recently tested contained a diluting agent; a synthetically converted cannabis oil; or pesticides" We've all known this was going on for years, but thanks to Josh Swider investing his own money in testing the products on the shelves in Michigan retail stores, we now have proof. This is proof that 33% of the distillate in the Michigan adult use market does not come from METRC tagged plants on licensed Michigan farms. This is why the Michigan market has the LOWEST adult use retail pricing in the US This is why cannabis math doesn't make sense This is why brands in the state of Michigan are able to wholesale their vape carts for $4 Because they're filling them with illicit, untested bullshit that costs them $.30/g The people of the State of Michigan voted to have regulated, tested #cannabis products, and because of the hands off enforcement by the State of Michigan, Gretchen Whitmer, and prior heads of the Cannabis Regulatory Agency, we now have a massive public health crisis on our hands. Why is converted hemp oil a problem? The process of converting CBD oil to THC is a chemical process. Converted CBD oil is not a natural product. It is not safe for people to inhale and we are likely to see health problems down the road for people who do consume it. There is almost no oversight for hemp farmers, they can pretty much do whatever they want, put whatever they want on the plants. Hence the products that Josh tested are popping for pesticides. Now the big question is, what is the State of Michigan going to do about it? We are over regulated and under enforced. We pay hundreds of thousands of dollars every year in licensing fees to the state, hundreds of thousands in sales and excise taxes. Somehow it's still basically a free for all for shady operators to bring illicit products into the system and profit at the expense of the consumers health. What's the move Brian Hanna? This didn't start on your watch but you have the power to fix it. For the sake of the people of the State of Michigan and operators who play by the rules, I hope we see some change here. It's time to enforce the ban on conversion oil. https://lnkd.in/gjzQEcX7

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Elevating New York Cannabis: A Clean Start with Gen Zero Tissue Culture Excited to see more microbusinesses taking root in NYS! With indoor flower on the horizon, there's incredible potential to revolutionize cannabis cultivation. Here's why starting with Gen Zero tissue culture clones might be your next big move: 🧬 Why Tissue Culture? Cannabis, as an annual plant, operates with a finite genetic lifespan. Cutting a clone from a mother plant does not reset its genetic clock; the clone carries the exact DNA of its source. Over time, the DNA in mother plants experiences breaks and deterioration, similar to how aging affects humans. This natural aging process, combined with environmental stressors, increases the risk of genetic drift (subtle but impactful changes in genetic expression) and mutations that can compromise the quality and consistency of your harvest. By starting with Gen Zero tissue culture clones, you bypass these risks entirely. Tissue culture provides a fresh start, delivering plants that are: - Pathogen-free: No lingering bacteria, fungi, or viruses. - Genetically true-to-type: Consistent characteristics from one plant to the next. - Vigorous and healthy: Free from the stress and wear accumulated in older plant generations. With tissue culture, you're ensuring that your cannabis plants grow with their genetic integrity intact, producing high-quality flower with every harvest. Don’t let aging genetics limit your operation—start clean and grow strong. 🌱 💰 Save Time, Space, and Money Operating a mother room is costly. Consider this: - Nutrients & Media: $500+/month - Power & Lighting: $1,000+/month - Water Usage: $300+/month - Labor Costs: $2,500+/month With Gen Zero clones, you can eliminate the mother room entirely, saving thousands annually while increasing operational efficiency. No mother plants mean reduced biosecurity risks since the perpetual operation of mother rooms makes them hotspots for pests and pathogens​​. 🌟 Your Path to Premium Flower Start clean and finish strong. Tissue-culture-derived clones from The New York Nursery guarantee uniform growth, consistent yields, and a superior end product. Whether you're growing for flavor, potency, or terpene content, our clones deliver​​. 🛠️ Let’s Grow Together Explore your options with us today and bring the best of science to your craft. We're here to help NY microbusinesses succeed! 📩 Reach out to The New York Nursery now. Start your journey with Gen Zero clones and cultivate with confidence. #NewYorkCannabis #TissueCulture #CannabisInnovation #CleanStart #GenZero #CannabisFarming #SustainableCannabis #CannabisCultivation #Microbusiness #GrowWithConfidence #CannabisScience #Biosecurity #PathogenFree #PremiumFlower #CannabisTech #NYSCannabis #FutureOfFarming #ConsistentQuality #CannabisMicrobusiness #StartCleanGrowStrong

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AB 2223 in California may have died yesterday, but the work isn't over. The bill would have permitted hemp cannabinoids in METRC, which would have lowered the COGS of many CPG cannabis products (that aren't flower or THC rich extracts) in California dispensaries. Opposition from small licensed DCC cultivators and extractors ultimately might have killed the bill, along with the lack of a viable enforcement plan that would have removed the products from independent retailers. The theme of state-level hemp regulations persists: over-regulation benefits larger companies equipped with extensive legal and lobbying teams to ensure compliance and scale operations to counterbalance the reduced margins required for compliance. Meanwhile, without proper enforcement, unlicensed entities would still persist in distributing sketchy products in the retail market. Speaking as a narrowly focused individual, I believe we should segment out low dose beverages to be more regulated like alcohol than state licensed marijuana. Where do you disagree? https://lnkd.in/gAhBdtDc

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🚨 Insightful DEA Report: Illicit marijuana flowers average a THC potency of 16%. 🌿💨 This statistic underscores a significant advantage of purchasing from licensed dispensaries—quality and safety. Unlike the unregulated market, dispensaries offer products that are tested, compliant, and consistent in their THC content. This not only ensures a safer consumer experience but also supports the legal cannabis industry committed to high standards. Why risk the unknown? Choose quality, safety, and reliability every time with dispensary-bought cannabis. Let's advocate for more informed consumer choices and support regulations that emphasize these benefits. Stay informed and choose wisely. #CannabisIndustry #ConsumerSafety #DispensaryQuality #THCPotency #RegulatedCannabis

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🌿 Despite #high hopes, the #cannabis industry has faced significant challenges. Turns out, it's not as #dope as investors toked it'd be. 📉 The leading player, Curaleaf, saw its value drop from a peak of 💲11.5B in 2021 to 💲4B today, highlighting the downturn in #marijuana stocks. The #market: 💰 Total U.S. Cannabis Market (legal + illegal) is valued at 💲75B, while the the legal US TAM, currently 💲32B, expected to grow to 💲43B by 2027 (source: BDSA) 🗽Just the New York state TAM is a hefty $6 billion cannabis market (and if you've strolled through NYC lately, you'll know it's not just the hot dog vendors adding to the aroma). 🌿 🍺 In comparison, the U.S. #Alcohol Market was valued at $247B in 2021, with the beer market alone at $115 billion, a stark 8x times cannabis TAM. 💼 Diageo, the leader in the spirits market boasts a 💲76B market cap, 💲21B in revenue and over 💲4B in net income. AB InBev, the leader in beer, commands a 💲120B market cap, 💲60B revenue and 💲5B net income. Some analysts believe that if a cannabis leader emerges, it might eventually reach similar figures. A long way to go for Curaleaf and others... 🌍 Besides the US and Canada there's potential in Europe with countries like Germany, Poland, and the UK that loosening cannabis regulations. More are expected to come. The #issues: 💸 Profitability hurdles include prohibitive taxes, with cannabis businesses unable to deduct common expenses, resulting in significant tax burdens despite losses in net income. 🤝 Fragmentation plagues the industry, with no player holding substantial market share, signaling a potential need for consolidation through mergers. 📊 Data on major companies: 📈 Revenue (2023) Curaleaf - $1.35B Trulieve - $1.22B Green Thumb Industries (GTI) - $1.02B Verano - $879M Cresco Labs - $825M 💹 Gross Margin (2023): Trulieve Cannabis Corp. - 52% Verano Holdings - 51% Green Thumb Industries Inc. - 49% Cresco Labs Inc. - 48% Curaleaf Holdings, Inc. - 45% 💼 EBITDA (2023): Green Thumb Industries Inc. - $291M Verano Holdings - $284M Trulieve Cannabis Corp. - $263M Curaleaf Holdings, Inc. - $239M Cresco Labs Inc. - $125M 👥 Total Employees: Curaleaf Holdings, Inc. - 5,650 Trulieve Cannabis Corp. - 5,400 Green Thumb Industries Inc. - 4,561 Verano Holdings - 3,900 Cresco Labs Inc. - 2,760 💼 Market Cap (may 3rd 2024): Curaleaf Holdings, Inc. - $4.17B Green Thumb Industries Inc. - $3.13B Trulieve Cannabis Corp. - $2.33B Verano Holdings - $1.75B Cresco Labs Inc. - $1B Fast forward a decade, where do you envision the cannabis industry? Do you anticipate pharmaceutical companies making their mark in the cannabis market? Could tobacco or alcohol giants venture into cannabis diversification?

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In the cannabis world, there's a tech frenzy over nutrients and feeding schedules, but is all that fuss necessary? Think about it: plants need just soil, sun, air, and water. High-tech indoor setups are cool and all, but they can crash with one wrong move, while outdoor grows keep it chill, letting nature do its thing. Field growing shows us bigger can be better, offering strong, healthy plants without the micro-management. As the industry leans towards large-scale farming, it's clear: the future is less about fancy feeds and more about embracing the simplicity of traditional agriculture. Let's not get lost in the latest nutrient hype. Cannabis thrives on the basics, and that might just be the smartest way to grow, both for the plant and our planet.

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What's the most pressing issue facing the #cannabisindustry this election? It's the #economy, stupid We can go back and forth arguing all day over which candidate is more likely to pass SAFE banking, or move forward with rescheduling We can point out all the flaws in their political records, and how many times they've flip flopped on the issues Let's be honest #Politicians are spineless liars and you can't count on them for anything except protecting the interests of the establishment and their big donors We in #cannabis are not their big donors So what will actually help our industry? Lowering inflation The price of inputs for producers (growers, processors, etc) have gone up significantly While the prices of our goods has come down Some might say that's good for consumers I'd argue that in the current economy, many producers are choosing to cut corners, bring in unregulated product, and skirt regulations in order to survive Ultimately putting the health of consumers, and the health of the industry at risk If you saw the quality of product that the majority of Michiganders are smoking, you'd be horrified That doesn't mean there aren't good operators putting good quality products on the market That means that most consumers can't afford to buy good quality products because their grocery prices are up 25% since 2020, gas prices are up 50% since 2020, rents are up 30% since 2020, etc Normal life has become unaffordable because of inflation, and people are buying $20 ounces and $6 vape carts because of it No one wants to be smoking that Nor do producers want to be putting out product they're not proud of If the cannabis industry is a major issue for you this election season Vote for a strong economy

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SACRAMENTO, Calif - The California State Fair Cannabis Awards announced its Gold and Silver medal winners. Judges awarded more than 100 medals across nine categories and 44 subcategories, including outdoor flower, mixed light flower, pre-rolls, concentrates, cartridges, edibles, beverages and wellness products. Gold medal winners are now vying for nine coveted “Best of California” Golden Bear trophies, likened to the new “Michelin Guide” of cannabis products. With more than 500 entries in 2024—double that of 2023—the California State Fair Cannabis Awards is the largest sanctioned cannabis competition in the world. For 170 years, the California State Fair has awarded farmers from California’s traditional agricultural industries for their best-in-class bounty. In response to California voters’ overwhelming support for cannabis legalization and in recognition of the tremendous role cannabis plays as one of the state's top-ranking crops by value, the California State Fair has included cannabis in these prestigious awards for the past three years. Embarc Budist California State Fair Cannabis Awards Continuing reading at the link below.

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Conventional wisdom may label the #cannabisbeverage sector as a passing fad due to its small market share. However, entrepreneurial insight suggests that #Cannabis #beverages will emerge as a dominant sector among cannabis products in the near future. The true perspective lies not in pessimism or optimism but in a deeper understanding of evolving markets and the factual data that is becoming apparent. The fact of the matter is that recreational dispensaries and the distribution model within these recreational cannabis states are not set up for the proper delivery and handling of cannabis beverages. With the segue of the hemp market allowing cannabis beverages to sit alongside alcohol, the acceptance/embracement of the players in that industry, and the availability for cannabis beverage brands to position themselves on a national level and create this footprint ahead of federal legalization, is monumental. Cannabis is and has always been a commodity; just like sugar and flavoring that go into these drinks. The value is created in the brand, its story, and the culture it creates and resonates with the audience. #DrinkMJ 🍻 ¡Salud! 👭🏽🇲🇽🇺🇸💨 #CPGMentality

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The cannabis industry is just one big game of deal-whack-a-mole. Honestly, I'm tired of it. Like...genuinely tired from it. Exhausted. It creates a sense of mania and chaos. It causes reactionary moves, all born from emotion. I'm looking at brand new shops opening with 40% off the entire store, all the time. 50% off first time customer discounts. 40% off daily deals on big brands. Slimy offers stating: "99% Off!!!*" (with tiny tiny type: *over 10 visits) I'm watching retailers switch offers in real-time to outdo their neighbor. Sometimes I think about car dealerships doing this. Where's the Porsche BOGO? Where's the G-Wagon 40% off? Why can't I find a damned 90s defender retrofitted for 50% off!? We all just keep digging ourselves deeper with this one. We all continue to train customers to expect this. All of us. We're all allowing this to happen. Marc Andreeseen said there are two emotions in business "Euphoria and Terror". MedMen got Euphoria, and I think everyone else has been in terror-mode ever sense. Am I wrong?

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Only ~25% of cannabis businesses make $$ - kinda shocking, but also not really. H/T to Cultivated Daily for the article... This compares to 65% of all small businesses that make $$$. If they didn't, they wouldn't be in business. __________ Now you see why investors have pulled back from the industry - the ultimate purpose of business is to make $. Sounds so capitalistic I know - but also doesn’t mean you can’t have other benevolent purposes… But if you can’t figure out a path to profitability, ultimately your capital will dry up as it finds other alternatives that can. Darwinian that way…. There are SOOO many reasons so few weedcos are profitable - many outside of our control: ❌ 280E which doesn’t let us deduct normal opex like every other business. ❌ Higher COGS bc we’re forced to be vertical in every state and heavy regulatory burdens - both of which drive up costs. ❌ The invisible cannabis "tax" (on top of our actual taxes) is real - everything just costs more in our industry - so frustrating when you see pricing compress in every market (transition to below). A lot of this is outside of our control - and unfortunately in the hands of state and federal regulators. But there ARE things in our control that as an industry we should be doing more: ✅ price appropriately - build in enough margin so that you can support your product with marketing, and discounts (WHEN appropriate). So many in this industry go right to cutting price as their first and only lever when missing forecasts. ✅ build a BRAND - that's more than just a logo or your packaging - it transcends all the way to the founder, your employees etc. Consumers pay more for brands they trust. Earn trust over the long-term - and you'll benefit. The more narrow you are on your core customer, the better you'll be resonating with them. ✅ continuously understand the market - if there are 250 pre-roll brands, why would someone choose you? Should you even enter the pre-roll market? I'd argue no - unless you have a differentiator. ✅ relentlessly watch costs - always look for ways to save $$... Woodstock Products is not yet one of the 25% profitable companies - but we're on the path to getting there - and following this basic formula ⬆️ . I'm sure I'm missing a few items.

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Def a click-baity headline - but somewhat true... Anytime a legislator uses the word "hornswoggled" - you start to understand how this happened. BUT I've always maintained - if you're in the cannabis industry and NOT considering hemp, you're prob making a mistake. Just like in trad'l retail - manage your various channels with different strategies. Don't sell the exact same thing for cheaper online (duh - but I feel it needs to be said). Ideally, sell something completely different - the majority of the buyers of Hemp D9 shoppers are NOT regular dispensary customers. Maybe even a diff brand name (as I’m guessing CURA is doing ) _________________________________ Like Curaleaf (H/T Boris Jordan ) Curaleaf, America’s largest cannabis company... is launching a line of beverages with a low amount of Delta-9 THC. AND they're going against the US Cannabis Council on this. “We would prefer that it’d be one regulatory framework for all cannabinoids,” Jordan said. “We’re at that point in time right now with the hemp industry where there needs to be some rules put around what you can and can’t put into these products.” Boris is on the record as saying he thinks THC beverages will ultimately be the biggest category LT... Implicit in that statement is the expectation that current non-cannibas users will move heavily into the category (NOT that smokers will stop & move to drinks). bc as any marketer worth their salt knows - it is SOOOOOOO much harder to get people to change behavior. If you can give them something very close to what they're getting now (but better), your chances are a gajillion times higher for success (+/- 1%). So getting drinkers today to try a THC bev that they can buy where they already shop... and have a nicer buzz, and an even better morning... That's kinda what's happening in the THC bev space rn. _____________________________ Yesterday was a set-back - prob driven by the USCC and other special interests. Unfortunately, it also hurts consumer access - and likely props up the illicit market. As we've seen in NY - our current law enforcement isn't resourced to deal with something that has proliferated over the past year. And honestly, is that where they should be spending their time? On something, adults have shown they enjoy and with few / no issues (NOT talking about gas station gummies).

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Community is a buzzword right now. It seems like everywhere I turn I hear every business, every podcast, every everyone talking about #community. #cannabiscommunity refers to the larger community of #cannabis users, a counter culture reference more than anything. What about operators? We're doing something that's incredibly difficult. We're building businesses in a developing industry where there's no playbook for success, access to capital is limited, and massive volatility is the norm. I've been an #entrepreneur for the majority of my career. Entrepreneurship is a lonely endeavor. Being an executive is hard, it can be lonely at the top. Being an entrepreneur or executive in the #cannabisindustry is a double whammy, lonely and stressful, squared. The most helpful thing I've found is the camaraderie of like minded people who are going through the same thing. On the most stressful of days, just knowing your not alone is comforting. Having a peer group to bounce big decisions off of is also incredibly valuable. That's why we built the Elite Cannabis Operators Mastermind Community, to create a forum for founders and executives in the cannabis space to come together and support each other. It's a vetted community for high level plant touching and ancillary operators who are also amazing people. If you're interested in networking with like minded people, we got that. If you want to connect with experienced peers who can give feedback on major decisions, we got that. Whether you've been in the game for a long time and you want to expand your network out of state, or you're new to the industry and looking for mentorship, we got that covered. If you've been sitting on the sidelines wondering about what we're doing, I encourage you to come check it out, it's a powerful group. Shoot me a DM for info on how to apply.

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A Week of Wins & Losses for California's Cannabis Industry. Governor Gavin Newsom has vetoed a bill that would have allowed sales farmers markets, dashing hopes for small growers to sell directly to consumers. This decision highlights the ongoing challenges small businesses face in navigating California's complex cannabis regulations. However, it's not all bad news! Newsom signed a separate measure to legalize cannabis cafes, similar to those in the Netherlands. Starting January 1, consumers will be able to enjoy cannabis in social settings, such as cafes where they can sip coffee, eat, and listen to music. As Assembly Member Matt Haney stated: "Lots of people want to enjoy legal cannabis in the company of others, and there's no doubt that cannabis cafes will bring massive economic, cultural, and creative opportunities to our state." With local approvals still pending, this new law could reshape how consumers experience cannabis in California. What impact do you think these cafes will have on the industry? https://lnkd.in/gS9yyqUy #CannabisIndustry #CaliforniaCannabis #CannabisCafes #SmallBusiness #Regulation #EconomicGrowth #CannabisPolicy

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