Antar Shafer’s Post

Business of Cannabis: New York is just TWO WEEKS away today! Final tickets for the event at New York Academy of Medicine on November 12 are now on sale 🗽 Meet 300 industry leaders, join genuinely applicable workshops, and walk away with actionable strategies to grow your business. Agenda Highlights: ⚖️ The Regulatory Landscape: Get the latest updates from state officials. 🚀 Retail Opportunities: Learn what it takes to launch and grow a successful dispensary. 🏦 Investor Outlook: Hear from top investors about future funding opportunities. 📣 Brand Building & Marketing: Insights on creating a powerful brand and loyal customer base. If you’re invested in shaping the future of cannabis in New York and accelerating retail growth, this is an event you can’t afford to miss. P.S. You might have noticed we’ve had a couple of domain issues with our website over the last few days, which are now fixed! Get your tickets via our new, updated site here 🎟️ 👉 newyorkcannabis.live #BofCNY #BofCNY24 #CannabisNY #NYCannabis

Big moment for the Michigan cannabis community as we hit the 5-year mark! 🌿🎉 Sales were at an all time high with $3 billion in 2023, making us a top player in the US. But, here's the caveat: we've got too much, and prices are way down. The average retail price for an ounce of recreational flower dropped to $95.08 in December 2023, a significant fall from $350.88 in December 2020. With new stores slow to open and few cities letting us in, we're at a tricky spot. How do we keep businesses profitable and make sure everyone can access what they need? Got ideas or strategies to share? Let's chat about how we can keep Michigan's cannabis scene thriving. 🚀💬

This (long) post is for all the #cannabisretailers (or those who know them) out there. 15 years ago, I began my journey in the Colorado cannabis industry Back then, there was no playbook, no MED, and we were navigating uncharted territories. About a year later rules and regulations started to form and we were required to have a cultivation. We became vertically integrated, opened a second location in Lakewood, and through trial and error, we persevered and grew. As the industry evolved we had to become more sophisticated. We developed systems, drafted countless SOPs and were among the first in the country to implement Metrc. When Colorado legalized adult-use cannabis, we rebranded our Louisville store to Ajoya and built a high-end store just across the parking lot that Leafly recognized as one of the top ten most beautiful stores in the country. We pioneered experience categories to help consumers make informed choices. Fast forward to 5 years to 2020. What a crazy year, yet one of the busiest years of our existence. And then. Everything changed. 2021 hit and we faced new challenges. The market compressed, oversupply led to price compression, competition tripled in our small municipality and discounting became rampant. We experienced a devastating fire in Louisville that burned down 1,000 homes just down the street from our store. The building that housed our old store in the same parking lot also burned to the ground. Despite the setbacks, we persevered. That same year Lakewood changed from medical to adult use, and we seized the opportunity to build a second high-end location and opened our Lakewood store to retail in 2022. We used what money we had and reinvested in our infrastructure, improved our org chart, procurement, marketing, and loyalty program. Now, in 2024, we're seeing positive results and gaining momentum. We've built an infrastructure that can be replicated, and we're ready to share our expertise with other retailers. We've navigated the challenges of both new and mature markets and are pioneering ways to thrive in this industry. 🤝 Calling all cannabis retailers! 🤝 If you're struggling to make ends meet or want to optimize your operations, I want to talk and see if there's a good fit. Our team has the breadth of experience to support you in differentiating your brand, optimizing procurement, training staff, building loyalty, increasing margins… to name a few. Well help new retailers save multiple six figures, teaching them all we've done well and what we learned from all the mistakes We'll help existing retailers climb out of the pit and into a business that works. If you're interested in having an experienced group manage your retail operations or know someone who might be, reach out to me directly or tag them in the comments. We understand the challenges you face because we've been there ourselves. We're hungry and ready to move quickly. Let's grow together 😉 💪 #CannabisRetail #cannabisindustry

🌿 While the news has been fixated on the challenges with the NY market, let’s not forget to shine a light on the current and soon to market operators who are tirelessly growing, building, and collaborating to move this market forward. 💪 If you want to witness what’s truly unfolding in the New York cannabis market, look no further than Revelry Buyers’ Club. Registration is officially open for the highly anticipated Revelry Buyers’ Club! 🎉 Register @ www.revelryny.com Revelry Buyers’ Club is New York’s exclusive B2B cannabis trade show, hosting the most concentrated gathering of licensed New York retailers, cultivators, processors, brands, and ancillary providers. ⚡ This is where the NY market gathers to handle business. ⚡ This is what New York cannabis looks like. And don’t let them tell you different. On The Revel

How's your Independence Day promotional planning going? The team at Surfside put together a handy little 1-pager outlining #cannabis sales trends from 2023 to help retailers and brands understand which summer holidays are worth investing in. Top summer holiday? Independence Day, of course. July 3rd, 2023, saw a 31% spike in sales, which is comparable to other ethnographic opportunities like the Super Bowl (42% spike on Saturday) and Halloween (27% on 10/31). This year, with Independence Day being on a Thursday, #Surfside is expecting 2 x the sales (closer to 60%). To put Independence Day in context July 4th promotions account for 1.7% of your annual revenue And 7% of summer revenue. That's nothing to sniff at. Check out the Surfside report today. Comment below or DM us if you need any help! #Vetrina #CannabisRetail #PromotionalPlanning https://lnkd.in/gFt-Z3Hp

I've been reflecting on the Benzinga Cannabis Market Spotlight conference in Los Angeles last week. My fellow panelists - Lauren Carpenter, Guy Rocourt, Mark Collins MBA - and I enjoyed the most upbeat and optimistic audience of the day. We talked about the outlook for retail and how dispensaries can increase profitability. But in other panel discussions and during 1:1 conversations in the hallways, the mood was very different. It was pessimistic, which is in sharp contrast to the general positive vibes California is known for. Look, I live in California so I understand the challenges - both in running successful businesses and dealing with the state government's tangle of red tape. It's not easy. It's not easy running any business, but cannabis is different and more difficult than most. But here's what I know: Those who bet against the industriousness of California usually leave the table with a losing hand. Our panel moderator, Ricardo Baca, asked us each a question near the end of our session: "What gets you out of bed every day to do the work you're doing?" For me, that's an easy one. If someone would have told the high school version of me that I'd one day make an honest living in the cannabis industry, it would have felt like a dream. And yet here I am. And here WE are. And we're all still here because a lot of people care deeply about this industry and are getting out of bed each day to make their dreams a reality. I know the California market will thrive because of the commitment and passion all these operators bring every day. #cannabisindustry #cannabisbusiness

With 2025 coming up fast there are a lot of changes taking place, and so much of the cannabis industry feels "up in the air". Do you feel like you have a handle on it or are you head-down and focusing on what's going on today? If you're like most retailers, it's tough to see past your next order but we have you covered with what's on the horizon and beyond for cannabis. We're teaming up with BLAZE® to dig into the nitty gritty details with the big changes we expect in the new year, the bumps in the road, and where you can capitalize on opportunities to ensure your business can thrive. Join us on November 20, 2024 at 12 PM MST, where Christopher Violas, CEO of BLAZE sits with Andrew Watson of Happy Cabbage for a dive deep into this topic to help retailers and brands: - Tighten up operations with advice from experts on retail cannabis - Get ahead of the biggest problems retailers are going to run into - Set your business up to capitalize on the coming opportunities Register now: https://hubs.ly/Q02V7K570 Save your spot for this 1-hour discussion where we lend our insights and expertise and you'll have the chance to get answers to your pressing questions in a Q&A session. Can't make it? No problem. Register anyway and get a link to the recording after our presentation is concluded. We hope to see you there!

I spent a productive week meeting with clients in NY and NJ recently. In particular, we had great conversations with the Emunio Logistics team about the challenges in the emerging NJ cannabis market. One thing I keep coming back to is New Jersey's clear appetite for local and small business success in the market. 🤔 When the NJ recreational market launched, multi-state operators (MSOs) initially dominated the space, as many medical dispensaries (primarily owned by MSOs) converted to dual-use for both medical and recreational sales. With their capital, infrastructure, and resources, they had a clear advantage. BUT there’s a strong desire for local, independent cannabis businesses in NJ. Consumers want to support small businesses over large corporations. Social equity applicants and small brands are steadily entering the market, despite the challenges. I’ve been a small business before, and know what it takes to thrive when you’re up against bigger players. I’ve been thinking about what we can do at Osovsky Cannabis Consulting to help those smaller businesses succeed in NJ’s MSO-saturated market. Drawing from my experience in the Oregon market, I’ve seen how the survival of small businesses depends on forging beneficial relationships in the local area. Networking and partnerships will be essential. Something I’m proud that we’re building into OCC is a framework for new, small (but mighty) local businesses like the ones emerging in NJ to succeed. How else can we empower NJ's small cannabis businesses to thrive? 💬

🗣️ Three Billboards Inside New York, New York: New Ad Regulations in NY ∘ Vanessa Y.-Chan, CEO/Founder, alta Dispensary ∘ Jeffrey Schultz, Partner, Foley Hoag LLP ∘ Rosie Mattio, CEO & Co-Founder, MATTIO Communications ∘ Jim Anstey, Founder, BKLY In July, New York’s Cannabis Control Board proposed amendments to cannabis advertising and marketing regulations. Despite the slightly restrictive three billboard rule, these new regulations expand the way cannabis dispensaries can market themselves, bringing in new customers and extending their brand presence. With more tools at their disposal, including merchandising and discount promotions, how will companies capitalise on this greater freedom? What does a great cannabis marketing campaign look like? What best practices can they learn from other industries who have created highly successful retail businesses? 🔗 RSVP: https://lnkd.in/gcTKZXzg Don’t miss out on this opportunity to hear insights on the future of New York’s cannabis industry. #BofCNY

Such a great event! Really valuable insights on the technologies that will drive retail efficiencies in cannabis. I believe it's so important for us as brands to understand the challenges faced at the retail level. Last nights discussion, specifically in regards to supply chain management has me thinking how the brand + retailer relationship can become more effective, and what technologies will bridge the gaps! I think back to my retail days, and irresponsible purchasing habits that likely did a disservice to my customers, brand partners, AND finance teams. Being OOS frustrates your customers, shifting them to another product disrespects the brand that likely invested $$'s to earn that customer, and over compensating for that OOS challenges your finance team. The industry has come so far, but these are still some of our biggest challenges as a brand, with very little control of our shelf space and retailer stocking habits. I'm curious to see what the technological future holds, and also wonder how PAX can assist our retail partners NOW to provide data driven insights, and relieve any operational burdens in supply chain management. When we work together to minimize these bottlenecks ... the brand, retailer, and CUSTOMERS win. Thank you Dutchie!