Tag Archives: production

The constant struggle for legitimacy in the legal cannabis industry

Published / by bde / Leave a Comment

For many i502 business owners, it’s been an uphill battle to get fair (and easy) access to the Federal Banking system. As a result, i502 businesses have gotten creative in their approaches to managing money. In some cases, this puts them at odd with the Feds, with the Banks, and with consumers. It’s a no win situation that needs to change.

In the old MMJ days, it wasn’t uncommon for MMJ dispensaries to be shuttling around garbage bags of cash in their trunk. Thankfully, now most i502 retailers have access to basic banking and credit unions that suppor – on premise ATMs, and even some basic debit transactions (with usual ATM-like fees per transaction). Most transactions are still cash and the vast majority of retail shops only accept cash.

One improvement over the past year or so were changes that allow 3rd party security and armored truck companies to pickup and transport cash from retail shops to their place of deposit.

Another recent development here in Washington state is a push by state legislators to block i502 businesses from doing transactions using Bitcoin. This news just broke in the past 2 weeks. Senate Bill 5264 effectively bans Bitcoin from being used in i502. I’ve seen a few “automatic” menu/ordering kiosks at a few retail shops that appear to take Bitcoin. I have not tried to conduct a transaction using Bitcoin. Read more on this issue here: http://www.geekwire.com/2017/washington-state-legislators-look-ban-bitcoin-pot-business/

Insurance underwriting.

Because I’m not an i502 business owner, I’m less up on how well (or poorly) the insurance companies do with underwriting i502 businesses. I know that Lloyds of London was a highly used insurance underwriter, but I also heard that they were getting out of the industry. I would be curious to hear from i502 business owners on your experience in securing and paying for insurance.

We live in uncertain times. I feel for each and every legitimate business owner working so hard to realize their dreams in legal cannabis. Onward we fight.

BDE -∞+

CONSULTING AVAILABLE: INTELLIGENCE, ANALYSIS, AND PERSPECTIVES ON RECREATIONAL AND MEDICAL CANNABIS

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Friends & Colleagues – I will be parting ways with Precision Extraction on January 27. We are leaving on mutually good terms.

As of Jan 28, I will be available for short and medium term consulting projects and related services in the Recreational and Medical cannabis industry across the US. Anything from data mining, market analysis and assessment, processing lab design, compliance, production and processing logistics, business plans, packaging and distribution, wholesale brokering, retailer relationship building, business process automation, software and hardware integration.

My depth of knowledge, 30 years of experience in cannabis, 20 years working in Enterprise Software, and passion for the industry are what I bring to the table with a proven track record and commitment to excellence in everything I do.

Now offering free 30 min phone/online consult and will let you decide if we are a good fit. Feel free to also check out my resume: Brian Daniel Eisenberg – Resume – 2017

Can reach me anytime at:
@eisenetics on Instagram and Snapchat
Brian.eisenberg@Gmail.com
206.294.8205 (8am-11pm pacific time)

-Brian Daniel Eisenberg
Jan 16, 2017