CannabizTeam - Executive Search and Staffing’s Post

"Since 2016, when California voters legalized #cannabis for #recreational use, sales have blossomed into a multibillion-dollar industry — and the promise of this “#greengold” was most apparent during the #420Festival at San Francisco’s Golden Gate Park. Since 2017, the annual free event has become a more expensive enterprise than the days prior when stoners informally gathered at Hippie Hill. Drum circles and hand-to-hand cannabis sales transformed into big-name concerts and flashy new cannabis brands marketing their wares from merchandise booths. “People don’t realize there’s a lot of infrastructure that needs to happen to be compliant with all the city departments and to have legal sales and consumption,” said Alex Aquino, a longtime festival organizer. “There’s a lot of restrictions and guidelines, and it’s expensive to do that.” Economic realities have apparently caught up with the festival. Citing a struggling cannabis industry and city budget cuts, organizers canceled this year’s celebration. Aquino said there weren’t enough sponsorship dollars to make it happen. “It’s really up to the sponsors to come and say, ‘Hey, we have the cash and the financing to fund this event,’” he added. According to Aquino, the 420 Festival — which has cost nearly a half-million dollars to set up — relies on sponsorships and donations. He said the event typically draws around 40,000 people, requiring security, portable toilets and permits. The festival’s lack of sponsorship dollars this year is likely due to inflation and the high cost of borrowing money, according to David Downs, senior editor at Leafly.com and organizer of the city’s first-ever #SFWeedWeek, which is set to take place this year. “Businesses are being very careful where they spend their marketing dollars. Those budgets are often the first to get cut as businesses seek profitability,” Downs said. “#HippieHill in 2024 sailed into those headwinds.” California Cannabis sales have been on the decline. Sales peaked in 2021 at $5.35 billion but dropped by $45 million the following year. The most recent data, showing sales through June 2023, reveals even weaker sales. Still, Downs calls the outlook for the pot industry in California “Dickensian.” “It’s the best of times and the worst of times; it just depends on who you’re talking to,” he said. By all accounts, business is good at Solful, a cannabis dispensary in San Francisco’s Inner Sunset neighborhood. On a weekday afternoon, a steady stream of customers peruses colorful aisles of cannabis flower, oils and even cannabis-spiked seltzers." - KQED

As we wind down the year, I want to quickly reflect on all that Okay Cannabis Dispensary has accomplished in 2023. Our mighty team is responsible for many important firsts in the cannabis industry, such as:   - OKAY is the first cannabis operator in the world to have a loyalty rewards program that is integrated with an entire restaurant and hospitality group, which, over time, will be a significant sales driver at all three OKAY locations. - The OKAY and West Town Bakery mashup in Wheeling is the nation’s first dispensary with an attached bar, restaurant, and consumption lounge. - The Wheeling Consumption Lounge is the first such lounge in the world to be listed on OpenTable. - After just a few months of operations in Wheeling, we opened our West Town location, and this store has exceeded our expectations. - OKAY and West Town Bakery launched the first take-and-bake mixes in the nation. - OKAY is one of the only independent social equity operators to open multiple stores in just over a year. - OKAY’s third store in Evanston will open in January 2024, the first social equity store to pay into the city’s reparations program. I am most proud of the environment we have built. Most dispensaries are very transactional. It’s about getting people in and out fast. Many people report feeling intimidated by this model and ultimately being turned off entirely. This is where OKAY is distinct. We follow all the laws on security and management without creating a cold and intimidating environment. Our frame is on hospitality, throughout the entire customer experience. We want people to feel welcome, comfortable, and taken care of. We want people to be excited about coming in, whether it's their 1st or 100th visit. Comfort and ease breed loyalty, and loyalty will inherently expand our customer base. Knowing this, we need to reach cannabis connoisseurs and the canna-curious and meet each customer segment where they are at, and that is what we plan to do in 2024. Onward! Locations: 781 N Milwaukee - Wheeling 1914 W Chicago - Chicago 100 Chicago - Evanston (coming in January 2024)

Although the vest majority of americans live in a state where cannabis is legal for medical or adult-use, a lot of medical patients and consumers do not have where to consume. In most states one is not allowed to consume on the street, a lot of landlords do not allow their tenants to consume on their property. People living in government housing such a Section 8, could be in danger of losing their housing if they consume in their house. Bedisd a few exceptions hotels do not allow cannabis consumption, so tourists do not have where to consume. #california at moment has 36 consumption lounges. A state bill (AB 1775), that would allow lounges to sell food and have live entertainment, is on the way to pass and will help increase the number of lounges. #lasvegas has two operational lounges, Smoke and Mirrors and Planet 13 Holdings, Inc., Dazed. Thank you Adam Jackson from Green Market Report for the state update. #cannabisindustry #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw https://lnkd.in/gBzC6Kuq

🌿 Let's End the Stigma: Embracing Cannabis at Events 🌿 In the evolving landscape of event planning, cannabis is increasingly becoming a topic for discussion. However, it's disheartening to encounter venues that still hold reservations about hosting cannabis bars at social and corporate events. We believe that the key to progress lies in education and open dialogue. It's crucial for decision-makers to understand that embracing cannabis doesn't just align with Canadian laws but also reflects a modern and inclusive approach to event hospitality. Recently, we've encountered some venues that, unfortunately, have chosen to remain anti-cannabis. While we respect their stance, it's essential to spark conversations and bridge the gap in understanding. On the brighter side, there are numerous prestigious venues across Canada that have welcomed the HighBar experience with open arms. To these forward-thinking venue managers, a heartfelt thank you for embracing innovation and catering to the diverse preferences of your clients. Join us in changing the narrative, breaking barriers, and creating a more inclusive event industry. Together, let's pave the way for a future where cannabis can peacefully coexist with alcohol, offering guests a unique and legal alternative. #HighBarExperience #EndTheStigma #InclusiveEvents 🍃🥂

The passing of AB 1775 marks a pivotal moment for the cannabis industry, opening the doors for cafes and experience-driven cannabis spaces across California that combine cannabis products with food, beverage, music and entertainment. This new law allows licensed cannabis retailers to serve non-cannabis food and drinks and host ticketed events, pushing the cannabis business beyond product sales and into the experience economy. How will dispensaries and lounges leverage this expanded potential revenue stream? In a recent blog post for CVCAN - Coachella Valley Cannabis Alliance Network, Brian Applegarth explores this massive opportunity for cannabis businesses in tourism-heavy areas like the Coachella Valley—a region that thrives on its visitor economy. The modern traveler is seeking unique, immersive experiences, and now is the time for cannabis businesses to integrate fully into California’s travel landscape. Read more to explore the exciting potential opened up by AB 1775 (🔗 in comments). 📸: Photo of The Woods lounge in West Hollywood by Joshua Porter #cannabistravel #cannabislounges #california #cannabistourism #experientialmarketing #experienceeconomy

Product Earth was shut down for Day 2 in London... Mary Jane saw attendance halted on Day 2 in Berlin a few months back. Europe is experiencing some of the same things we did in the States in early legalization/"movement to legalization". It's CLEAR that people want legal weed. Any poll you look at, any financial report, and simply viewing the lines outside of these massive events surrounding the legalization. It's also pretty clear that regulators don't know what to do, venues are incredibly fearful, and authorities have a difficult time adjusting (we still see this in mature markets in the States). There is a gap between the normalization many consumers want and even expect with legalization, and the reality of what it looks like as it rolls out. Living in Washington, I was blessed to live through some of the trailblazing history of recreational cannabis being the second state behind Colorado to get a market online. The last part of our medical market days saw the gray area open wide up just for regulations and restrictions to clamp down and ruin a lot of the freedom we briefly had and many still wish to hold onto...ironically, it was almost easier to throw cannabis events when it was illegal vs once it was legalized. Some of the first CannaCon's ever had people lined up thinking they could smoke inside and get free samples just to be let down when you find out the convention center won't let you blow inside no matter the theme of the conference. If I know one thing in this life, you give smokers or hustlers an inch, they will happily take 5 miles. You talk about things being legal that were once illegal and you start inviting people that have been perfectly fine breaking the law to make a buck or enjoy themselves how they please to now shed what little fear they do have...of course people are going to be trapping and of course people are going to be blowing weed anywhere and everywhere until they're told to stop (this in no relation to either event, this is something that is much broader). It's a shame to see this discconnet because I don't feel like people are intentionally being anything other than themselves but that doesn't always match up with what the greater collective can or should be doing. I'm not going to sit here and pretend to know specifics or speak on authority for an event I didn't attend (I did attend Mary Jane but not Product earth)...rather point out that we went through this in the states and it's not new, nor fun. Legalization and the effort for it is a beautiful thing, a painful process, and not without bullshit like anything else in life. Would love to hear from people there on their experience and thoughts on how to improve for next year. I'd love to see the UK people get broader access and no fear around consuming this plant - everyone deserves that.

Another important step for the movement to legalize and destigmatize this magical plant. Enabling safe, easy access is our mission. Let’s get it. And anyone for SF? How could I not be as a NorCal native…Rivaling with my 10 year old around this very subject now! #legalize #normalization #access

🍺🌿 Reflecting on an Intriguing Contradiction among Relatives 🌿🍺   A fascinating development highlighted in a recent Forbes piece reveals the complexity of integrating cannabis into traditional events, particularly Bavaria's Oktoberfest. Despite cannabis' recent legalization strides in Germany, its presence is restricted at a festival that is, ironically, a celebration of beer - a product of hops, a close botanical relative of cannabis.   This scenario uncovers a "Doppelmoral" - a double standard in the societal and regulatory approach to psychoactive substances. Both hops and cannabis share the Cannabaceae family lineage, weaving a fascinating tapestry of flavors, aromas, and cultural significance. Yet, their reception in society diverges sharply, especially in contexts deeply rooted in tradition like Oktoberfest.   As we evolve in our understanding and regulation of natural substances, let's advocate for policies informed by consistency, science, and respect for cultural values. Embracing the nuanced relationship between hops and cannabis not only enlightens us about our botanical world but also challenges us to reflect on our societal norms and regulations.   In the quest for balanced and fair regulations, may we strive for an approach that honors both tradition and progressive understanding, fostering a society that values informed choice and cultural heritage equally.   What are your thoughts on this? Read the full article Forbes: https://lnkd.in/d-M6sPGN   #CannabisPolicy #Oktoberfest #CulturalTraditions #HopsAndCannabis #SocialChange

Here are some of the latest developments in the world of cannabis news from this past weekend: - **Canada's Cannabis Industry**: There was no excise tax relief for Canada's legal cannabis industry in the 2024 budget. This decision has implications for the financial health of the industry¹[7]. - **Federal Court Decision**: A federal court ruled that a pilot could no longer transport cannabis within Alaska, despite the substance being legal there, leading to the revocation of his license²[8]. - **Cannabis Industry Salaries**: A report highlighted that salaries in the cannabis industry are on the rise, with CEOs making an average of over $400,000, while edibles chefs earn around $46,000³[9]. These stories reflect the ongoing changes and challenges within the cannabis industry, both in terms of business and regulation. Source: Conversation with Bing, 4/27/2024 (1) Canada Cannabis Update: Health Recall, Home Cultivation Ban Reversal, International Expansion. https://lnkd.in/ghzvQhpj. (2) Federal Court To Cannabis Pilot: No More Transporting Weed Around Alaska, FAA Revokes License Though Pot Is Legal There. https://lnkd.in/gEx9np2g. (3) Cannabis CEOs make over $400,000 on average, while edibles chefs make $46,000. Here’s how weed world pay breaks down. https://lnkd.in/g354XGX4. (4) Here's what's happening this weekend in Denver. https://lnkd.in/gbkAdbwy. (5) Here's what's happening in D.C. this weekend. https://lnkd.in/gXdfqKWd. (6) International Marijuana Business News | Global Cannabis News - MJBizDaily. https://lnkd.in/g2tdjZxK. (7) Cannabis News: Today's Top Stories | Ganjapreneur. https://lnkd.in/gCAU_EjQ. (8) The Latest Cannabis News Today | Leafly. https://lnkd.in/g33aatHh. (9) The Latest Cannabis News Today | Leafly. https://www.leafly.ca/news. (10) Marijuana Moment - All your cannabis news, in one place. https://lnkd.in/ddyd49ZG. (11) The Latest Marijuana News Today | HighTimes Magazine. https://lnkd.in/gfXSXAGD.

Getting Stoned: Will Competition Cause Brewer's Droop? In what the alcohol industry will hope was just an Aprilscherz, from April 1st Germany has allowed residents to possess modest amounts of cannabis for personal use, and to grow their own. The country failed in its 2015 bid to add Reinheitsgebot - the purity law on beer making, to UNESCO's Lists of Intangible Cultural Heritage. Now this 'new entrant' (legally, at least) is ruffling enough feathers for Bavaria to consider pulling up the draw bridge on those (in an example of Michael Porter's 'buyer power') who draw on this alternative to draught for their highs. Stoners note: München has great munchies, but despite the Oktoberfest name, the celebrations are mostly in September. More on Porter's 5 Forces of Competition at the excellent businessballs: https://www.businessballs. com/portersfiveforcesdiagram.pdf (close the "dot com gap" to use the link)