Randy is a longtime friend in the technology industry. Randy has worked in technology for years and enjoys leveraging all types of technology to help retail businesses grow their profits and obtain other desired business outcomes. Although, he works on all aspects of technology he has spent most of his time on retail point of sale software applications, mastering the features and consulting retailers on how to deploy and utilize the software and related tools successfully. With his experience in technology he has enjoyed taking the next steps in helping cannabis retailers to know where to start and or what to do next.
The cannabis industry continues to flourish each year, with no two years being the same. Each year we see new states onboard cannabis, rules and regulations changing, and players in the industry raising capital, merging, and changing business models to accommodate industry trends. With this rapidly changing industry we have seen a number of deals conducted in late 2020 (Tilray and Aphria and then also Truly and Harvest Health), and many expect to see more acquisitions in 2021 as more states legalize adult use.
Retail Now will be taking place July 25th to 27th and trending to attract somewhere in the neighborhood of 2000 attendees and about 150 to 160 exhibitors. This conference which has been happening for decades just added cannabis as a track.
With the Texas Legislation session wrapping up we look at some of the changes that were made regarding cannabis and hemp. Their was a modest expansion of the Texas Medical Marijuana program that expanded the use of the program to people with cancer and post-traumatic stress disorder. Although this bill passed, it fell short of what many advocated for. Along with this bill Texas Senate has approved House-passed bills to reduce criminal penalties for possessing marijuana concentrates.
The world came to a sudden stop with the Covid-19 pandemic. With many businesses (nonessential) closing its doors, thousands of small businesses were fighting to stay alive. After a year of being shut down, we are starting to see the benefits of reopening. Many businesses who had deferred projects and purchasing during the pandemic are getting back into the office, and they’re spending money.
While cannabis is still considered a controlled substance at the federal level, more and more states are legalizing the use of Cannabis. With new states onboarding the use of Cannabis the cannabis industry is rapidly transforming into are regular business. Although the cannabis industry is becoming more mainstream the government still has strict regulations and requirements businesses must abide by. From sourcing and labeling to tracking and traceability the government has a strict set of guidelines that without your compliance you will be shut down.