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How Adam Bierman Built Medmen Into an Influential Industry Player

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How Adam Bierman Built Medmen Into an Influential Industry Player Creating a best-selling cannabis edible in a crowded market $12.95 VOL 4 • ISSUE 8 • September 2017 Crop storage+ strategies Vape industry overview Getting a grow NO off the ground APOLOGHow Adam Bierman built ¬ES MedMen into an influential industry player despite his blunt, controversial style 312.869.9070 IF YOU’RE NOT MESSAGING YOUR CUSTOMERS, THEN SOMEBODY ELSE IS! SMS is the best and most effective way to increase your daily store traffi c. Our clients say a blast brings in 10-50 incremental customers (per 1000 messaged). MESSAGING PAYS FOR ITSELF 10 TIMES OVER! A 420 sending number to increase Reliable delivery. No blocking. brand effectiveness. Excellent customer service. UP TO 240 CHARACTERS PER MESSAGE Need help building your opt in list? (50% more than others). More info to We got you covered. your customers means more sales. Great prices. Discounts for Picture messaging (MMS) available. higher volumes. No contracts or setup fees. 90% OF SMS ARE READ WITHIN 3 MINUTES OF RECEIPT. 4 20 YOU CAN’T AFFORD Thursday, April 20 NOT TO USE NORTHTEXT. Dispensary now SMS messaging expertise tailored specifi cally to the Dispensary market WWW.NORTHTEXT.COM/DISPENSARY | 312.869.9070 In business since 2007 Trim-8.375x10.875.qxp_Layout 1 1/20/17 10:22 AM Page 1 System 420™ Hybrid Greenhouses Larger Yields, Better Crops, Lower Costs PRODUCTION YIELDS With over 1 million square feet of Light deprivation, environmental controls, and benching systems Why Nexus? cannabis greenhouses constructed in provide the tools to optimize the 11 states, Nexus has developed unique expertise in designing grow system for high capacity integrated cannabis growing systems. Beyond cannabis, Nexus crop output. has served the horticulture industry for 50 years as an industry- leading greenhouse manufacturer. Facilities are strategically QUALITY PLANTS located in Colorado and Illinois for convenient shipping to the Growing healthy, natural plants is entire U.S. practical with insect screens for organic farming. Irrigation and fertilizer systems provide optimal That’s why cannabis growers choose Nexus. plant dosing levels. ENERGY SAVINGS Insulated walls and roof coverings provide highly diffused, natural www.NexusCann.com light energy usage for significant 800-228-9639 ext. 558 cost reductions. [email protected] President and CEO Cassandra Farrington Who’s Behind This Magazine? [email protected] Vice President of Editorial Chris Walsh [email protected] Senior Editors Roger Fillion [email protected] Kevin Huhn Inclusiveness [email protected] Integrity Connecting the entirety o the Staff Writers Bart Schaneman Unbiased in ormation without paid in luence cannabis community is [email protected] delivers the highest the oundation o the Omar Sacirbey value to all industry’s success. [email protected] participants. John Schroyer [email protected] Data and Charts Eli McVey [email protected] Our 5 Contributors Margaret Jackson, Jaimy Lee, Joseph Peña, John Rebchook, Core Pro essionalism Tom Kelsey Mainstream Responsiveness acceptance hinges on Sales Mary Pemberton Serving the industry’s Values elevating the [email protected] rapidly changing industry’s business needs requires practices. Molly Ford listening and [email protected] adapting. Angela Toney [email protected] Brooke Moore Quality [email protected] Sound business Marketing Christopher Day decisions are driven by reliable news, data Kendra Branch-Brett and insights. Andrea Evers Seth Mitchell Technology Amy Davis, Jeff Farrington Laura Femino Graphic Design Brian Gilbert Founded in early 2011, Marijuana Business Daily™ ocuses solely Subscriber Services Lisa Burstein on cannabis businesses and the investors who back them. Customer Service [email protected] I you are leading or inancing a cannabis-related company, we 401.354.7555 ext. 1 help you prosper via trusted inormation services and Co-founder Anne Holland exceptional events. To start/change/cancel your subscription, visit Our publications have the highest business readership in the MJBizMagazine.com, call us at 401.354.7555 x1 or email us at industry. Our events are sellouts, year aer year aer year. [email protected]. Marijuana Business Magazine And, we’ve been cited everywhere rom Harvard Business subscriptions are currently free to qualified US cannabusiness Review and the Wall Street Journal to Forbes, Fortune and professionals and investors age 21 and over only. Fast Company. To advertise with us, email [email protected] or call us at 401.354.7555 x 2. Do you need practical inormation, real-lie data or industry connections to help your business grow? You’ll ind what you Marijuana Business Magazine, Volume 4, lssue 8, September 2017 need in one o our publications or at our national events. lSSN 2376-7375 (print); lSSN 2376-7391 (online) We are here to help the multibillion-dollar cannabis industry Marijuana Business Magazine is currently published ten times per year by prosper. Let us know how we can serve you. Marijuana Business Daily™, a division of Anne Holland Ventures Inc. POSTMASTER: Please send address changes to: Marijuana Business Daily, 2750 S. Wadsworth Blvd., Suite D200, Denver, CO 80227. Copyright 2017 by Marijuana Business Daily, a division of Anne Holland Ventures lnc. All rights reserved. Materials may not be reproduced in whole A division of Anne Holland Ventures Inc. or in part without written permission. For reprints of any article, please Marijuana Business Daily Headquarters 2750 S. Wadsworth Blvd. Suite D200, Denver, CO 80227 [email protected] • Phone: 401.354.7555 x1 contact Customer Service. Twitter: @MJBizDaily • www.MJBizDaily.com http://MJBizMagazine.com ln This lssue FEATURES 36 Crop Storage Strategies Proper storage is crucial – otherwise cannabis growers risk seeing their harvest go bad and 36 their profits vanish down the drain. 46 Part Art, Part Science Some edibles makers go the extra mile by using not only culinary but mathematical know-how to ensure accurate dosing of products. 56 No Apologies MedMen CEO Adam Bierman has transformed the company into a marijuana juggernaut – while ruffling feathers in the cannabis industry along the way. 70 Let’s Make a 56 (Real Estate) Deal Financial sweeteners and a professional approach can help win over a wary landlord. 78 Alternative Advertising Barred from social media advertising, hemp-based CBD companies use education, SEO and physicians to reach consumers. 78 COVER PHOTO by Tom Kelsey 6 • Marijuana Business Magazine • September 2017 PRlNT + Marijuana Business DEPARTMENTS PDF DOWNLOAD aFctbook 2017 10 Cannabusiness by the Numbers: Impact of Chronic Pain on MMJ Businesses $24900 A state’s decision to add chronic/severe pain to its list of qualifying medical marijuana conditions is a key factor Marijuana in determining how large – and potentially how viable – Business Daily® the program will be. 16 Five Questions with David Bronner, CEO of Dr. Bronner’s Marijuana David Bronner talks about the need for the marijuana Business industry to adopt standards, business opportunities for organic or socially responsible cannabis, and hemp’s Factbook 2017 future in the United States. Exclusive Financial Data For Cannabusinesses & Major lnvestors 86 Cultivation Business Strategies: Prime Your Grow From the Get-Go New Mexico cannabis entrepreneur Erik Briones shares tips for getting your grow off the ground and perfecting it over time. 92 Infused Business Strategies: Building a Best-Seller Colorado-based Americanna used a cannabis leaf shape, sour flavors and distilled oil to create a popular gummy line. All-new research from From the CEO's Desk ..............................................8 lnvesting & Funding Corner ...............................12 the editors of Marijuana My Favorite Things ............................................... 14 lndustry Developments........................................18 Trends and Hot Topics..........................................32 Business Daily Hire Learning ...........................................................96 In Focus ..................................................................104 Company News .....................................................112 Movers & Shakers .................................................116 Order now at Market at a Glance: Connecticut ...................121 Advertiser lndex ...................................................122 MJBizFactbook.com lnsightful lndustry Observations ...................124 or call 401.354.7555 x1 FROM THE CEO'S DESK The Growing Dilemma ere at MJBizDaily, we have a running joke – not that it’s really a joke – that there are as many new business ideas as there are working days in the year. H I’m sure many of you can relate to this dilemma. With new states (and countries!) announcing progress in their fledgling medical and recreational cannabis programs seemingly every single day – and with new scientific, technological and business advances opening new opportunities in this industry – where does your company devote its limited time, financial resources and strategic focus? It’s tough to pass up great ideas that are a great fit with your core competencies. But the reality is that without the appropriate focus, most if not all those efforts will wither. One of our most important roles as leaders of our companies is to pick the best of the best ideas, then arrange the business to give them every possible oppor- tunity to succeed. The newest winning idea here at MJBizDaily is to begin deep
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