Who We Are
February 24, 2016
February 24, 2016
The team at Canna Advisors has a proven track record of guiding clients through the application process. History from other markets shows applicants who engaged experienced cannabis industry consultants are the most likely to succeed. Retaining an adviser is an initial investment with a potential for years of returns. Read more to find out who we are…
Canna Advisors is a team of consultants working internationally to help groups of individuals form companies in the legal cannabis industry. The company’s mission is simply to help people and promote professionalism and compassion within the cannabis industry. Our services help clients integrate with their community, develop their business models, network with investors, establish strategic partnerships, learn industry best practices, navigate regulatory compliance issues, and successfully acquire licenses to cultivate, manufacture, and/or distribute cannabis.
In 2009, Diane and her husband Jay founded Boulder Kind Care, the seventh medical cannabis dispensary to receive a license in Colorado. As a pioneers in the industry, Jay and Diane were responsible for ensuring that their dispensary could evolve with state and local regulations. They worked closely with the local government to ensure compliance. Under her management, the dispensary quickly earned a reputation as one of the most professional and patient-focused dispensaries in the state. In 2012, Jay and Diane sold the business so they could dedicate their time to cannabis business consulting and advocacy. Since then, Canna Advisors has developed best-of-industry operating procedures and consulted for clients in Arizona, California, Colorado, Connecticut, Delaware, Illinois, Massachusetts, Maryland, Nevada, Hawaii, and Oregon as well as Canada, Guam, Germany, Puerto Rico, and Colombia. Our experience designing operating procedures which are compliant with a variety of states and local regulations has given Canna Advisors the ability to quickly find the solutions to hurdles faced by applicants in any situation. Canna Advisors works with a diverse network of consultants and contractors in the cannabis industry, and have developed dozens of strategic partnerships that allow our clients to have an advantage against the competition in markets where only a limited number of licenses will be issued.
The process of applying for a license to operate a cannabis business is growing increasingly competitive and complex. As each new market emerges, states are reviewing each other’s programs and application processes, learning from each other’s successes and failures, and seeking to implement their own programs which are more thorough and complex than the rest. Add to these increasing regulatory complexities a rapidly expanding industry, and it is apparent the competition will only continue to increase aggressively as more applicants seek licenses.
As the stakes rise, the barriers to entry will continue to increase. Simultaneously, the long-term revenue potential of securing a license and operating a successful cannabis business also continues to soar. Most states which have issued licenses to cultivate, process, and dispense medical cannabis have not reopened their application process. Essentially, those who receive these licenses may face no additional competition for several years. There is also a trend, when states legalize adult-use cannabis (non-medical), to give priority to existing medical cannabis operators to receive the first adult-use licenses in the state. Considering this landscape, and the increasing acceptance of cannabis use across the country (and the globe), it’s easy to understand the demand for these licenses.
Assembling a winning application and operating a successful business in such a new, highly regulated industry requires rare, specialized knowledge. Most state organizations charged with the operation and implementation of regulated medical marijuana programs request information on: operational plans and procedures for cultivating, manufacturing, packaging, and dispensing; detailed plans on security, diversion prevention, and safety; an explanation of experience in horticulture and agricultural production; ability to control quality, inventory, and waste disposal; a logical business plan that demonstrates the probability of success, business acumen of the applicant, provisions for employee benefits and training, adequate sources of capital, a plan to enforce the drug and alcohol free workplace policy; and additional factors such as residency, freedom of tax obligations, a wholesale distribution plan, proposed varieties to be grown and their associated cannabinoid profiles.
All of the demands of regulators are difficult if not impossible to meet on your own. Canna Advisors is here to help augment your team and give you the expert advice you need to win licenses and build sustainable and optimized cannabis businesses.
Diane is a founding member of the National Cannabis Industry Association and ArcView, a board member of Women Grow and Thrive Community, a sustaining member of Americans for Safe Access and Students for Sensible Drug Policy.
Jay is a founding member of the National Cannabis Industry Association, a lifetime investor member of the ArcView Group, a sustaining member of Americans for Safe Access, and a mentor for the business incubator Canopy Boulder.