Posted by Derek Champoux
4 years ago / June 5, 2019
5 Tips for Growing Your Cannabis Company
The time is ripe for building a cannabis company, it’s a fast-growing sector with a lot of potential. But there’s a lot of regulation and increasing competition. Whether you’re selling cannabis products or vape hardware, successful growth requires a smart strategy.
To help, we’re offering five tips to grow your cannabis company:
1. Get An Accountant
A lot of young companies run their own books. Often, this is a good move that allows you to save cash while you grow. However, for cannabis retailers and companies, not hiring a professional accountant can cost you in the long run.
The IRS is starting to come down hard on cannabis companies. Any irregularities or errors can result in harsh consequences. Protect yourself by hiring accounting pros, especially when it comes to tax season.
2. Use Alternatives for Online Advertising
If you’re trying to sell cannabis products online, you’ll want to avoid Facebook & Google Ads. They are the biggest online ad networks, but they also have blanket bans for marijuana, even in legal countries and states.
You can try to be clever and get around their systems. But they’re pretty good at sniffing out people who violate their ad policies. Eventually, you will be caught and banned – which can affect other efforts on their platforms.
Instead, it’s best to use secondary ad networks for the time being. It’s unlikely that the main players will allow cannabis advertisers until marijuana is federally rescheduled.
As well, you can use strategic media use and PR to help promote your company, even in some places where your product cannot be promoted.
Another core strategy is to build a community. Grow your brand’s connection with your target audience, encouraging growth while fostering longer-lasting relationships and loyalty.
3. Enhance Your Control
Companies work hard to provide a better product. Many producers are hiring ‘terpeners’ (cannabis sommeliers), to ensure the best cannabis flavor and experience. But without control over the delivery system, even the best product cannot guarantee the best user experience.
Using a high-quality cannabis vape pen gives cannabis retailers better control over how customers experience their products. Ensure your product is delivered as you intended with accurate temperature controls, draw timing, and a ceramic core that prevents burnt tastes.
As well, it’s ideal to purchase cannabis vape pens and oil filling machines from the same provider. This way, you know your cannabis oil filling machine is built specifically to work with your vape hardware. This provides accurate doses, sure seals, and efficient filling.
Giving a consistent customer experience is the key to growing and retaining a loyal customer base. It relies on both the quality of your product and your cannabis hardware.
4. Buy Wholesale Vape Pens
Vaporizers are the fastest growing product in the legal cannabis market. There are three main categories of the cannabis market: flowers, edibles, and concentrates. Year after year concentrates excel as the biggest growth category, and vaporizers aren’t even in full flow yet.
In Canada, they aren’t even set for legalization until later this year. So despite their massive growth in popularity, cannabis vape pens are not yet anywhere near their peak. Vaporizing aims to be the leading cannabis consumption method in the near future.
To deliver the best experience to your customers, you need to a premium-quality vape. Of course, quality comes with a price tag – cheaping out on your cannabis hardware devalues your product with an inconsistent and underwhelming consumer experience.
To get the best of both worlds – good prices and premium quality – shop wholesale vape pens. Bulk purchases offer better prices, so you can get affordable cannabis hardware without sacrificing quality.
5. Future-Proof Your Business
The legal cannabis market is still young and regulations and legislation are still in flux. Making smart choices today can help protect your company against future legislation. The best clues for what’s to come are found in the goals of existing regulations.
For instance, many of the current laws in place focus around keeping marijuana out of the hands of youth, so it’s worthwhile focusing on cannabis hardware that delivers on this purpose. For instance, Greentank is the first manufacturer to develop certified child-resistant cannabis vape pens.
With Canada’s tough packaging laws, this is sure to be beneficial for companies looking to enter the country’s approaching legalization of concentrates.
In countries where concentrates are already legal, child-resistant packaging can protect companies against future legislation and provide parents with a safer option to keep in their homes.
Are You Ready To Grow Your Cannabis Company?
The legal cannabis industry is a growth market. Make sure your company is set to grow with it. Get the best quality cannabis vape pens and hardware with world-class design and materials.
Contact Greentank today for vape pen quotes and information.