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FREE Webinar Tomorrow, April 17: How To Buy or Sell a Cannabis Business

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On Wednesday, April 17, 2024 at 12:00 pacific time, Harris Sliwoski managing partner Vince Sliwoski (Portland), Harris Sliwoski partner Griffen Thorne (Los Angeles), and Andy Shelley of CannXperts will present a free webinar entitled “How to Buy or Sell a Cannabis Business.”

Drawing on their extensive experience from representing businesses and entrepreneurs through numerous M&A transactions, including crucial state license transfers throughout the United States, our panelists will share insights and practical wisdom from their firsthand experiences in the legal cannabis industry.

  • Crafting and understanding Letters of Intent
  • Understanding the advantages and disadvantages of Asset Sales v. Business Sales
  • Conducting thorough Due Diligence
  • Drafting and Negotiating purchase agreements and ancillary documents
  • Navigating State-Specific Regulatory Concerns
  • Managing Escrow Challenges
  • Optimizing Financial Arrangements: Purchase Prices, Holdbacks, Earnouts
  • Tackling Post-Closing Considerations

As always, we’ll also take Q&A, so please feel free to either submit questions when registering or you will be able to ask comments in chat during the webinar.

Register Here



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A Simple Guide to Using Cannabis for Pain Management (Updated Version)

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 A Simple Guide for using Cannabis for Pain Management

 

Cannabis has been used for medicinal purposes for centuries, and one of the most common reasons for its recommendation is pain management. As more countries and states legalize medical cannabis, an increasing number of people are turning to this natural remedy to alleviate various types of pain, including chronic pain, neuropathic pain, and pain associated with certain medical conditions like various cancers and multiple sclerosis.

 

However, it’s essential to understand that the way cannabis is used can significantly impact its effectiveness in managing pain. While smoking a pipe and a joint might seem similar, there are subtle differences that can alter the intensity and amount of smoke inhaled, ultimately creating a different effect. The temperature at which cannabis is heated, the type of device used, and even the strain of cannabis chosen can all play a role in how effectively it manages pain.

 

Moreover, individual genetics also influence how one responds to cannabis. The human body has an endocannabinoid system, which interacts with the compounds found in cannabis, primarily THC and CBD. Variations in the genes that code for the receptors in this system can affect how a person metabolizes and responds to these compounds, leading to differences in pain relief experienced.

 

Despite these variables, there are certain tips and tricks that can help optimize the use of cannabis for pain management. From selecting the right strains for pain management and dosage to choosing the most appropriate consumption method and timing, there are several factors to consider when using cannabis for pain relief. By understanding these nuances and tailoring cannabis use to individual needs and preferences, people can effectively harness the potential of this versatile plant to alleviate pain and improve their quality of life.

 

In this article, we will explore some real-world feedback from individuals who have used cannabis for pain management, shedding light on what works best for different types of pain and personal circumstances. By sharing these experiences and insights, we hope to provide valuable information for those considering using cannabis as a natural alternative for pain relief.

 

Quick Pain Relief With Cannabis

 

When it comes to fast-acting pain relief, smoking or vaping cannabis is often the most effective method. These consumption methods allow the active compounds in cannabis, such as THC and CBD, to be rapidly absorbed into the bloodstream through the lungs, providing pain relief within 5-10 minutes. Another quick-acting option is using a sublingual tincture, which is a concentrated liquid form of cannabis that is placed under the tongue for rapid absorption into the body.

 

Smoking or vaping cannabis is the quickest way to experience its psychoactive properties, as the compounds bypass the digestive system and enter the bloodstream directly. This rapid onset can be particularly beneficial for individuals dealing with sudden or acute pain, such as headaches, menstrual cramps, or muscle spasms. The fast-acting nature of smoking or vaping allows users to titrate their dosage more accurately, as they can feel the effects quickly and adjust their intake accordingly.

 

While smoking or vaping cannabis may provide quick relief, it’s important to note that these methods are not the most potent ways to consume cannabis. Edibles and concentrates, for example, can offer stronger and longer-lasting effects, but they also take longer to kick in. However, when it comes to pain related to tension or slight inflammation, smoking or vaping can be an ideal approach, as the rapid onset of effects can help alleviate discomfort quickly.

 

Titration, or the process of gradually adjusting the dosage to find the optimal level of relief, is highly dependent on the individual. Factors such as body weight, metabolism, and tolerance can all impact how a person responds to cannabis. By starting with a low dose and slowly increasing it as needed, users can find the right balance that provides effective pain relief without causing unwanted side effects.

 

When considering smoking or vaping cannabis for medical purposes, it’s generally recommended to opt for vaping over smoking. Vaping involves heating the cannabis to a temperature that releases the active compounds without producing the harmful byproducts associated with combustion. This makes vaping a potentially healthier alternative to smoking, as it reduces exposure to toxins and irritants that can be detrimental to lung health.

 

 

While smoking or vaping cannabis can provide quick relief for certain types of pain, those seeking long-lasting relief for deeper, more persistent pain may find edibles or concentrates to be a more effective solution. Edibles, such as cannabis-infused foods or beverages, offer a unique way for the body to process THC, the primary psychoactive compound in cannabis.

 

When cannabis is consumed orally, the THC undergoes a process called first-pass metabolism in the liver. During this process, the liver converts Delta-9-THC into 11-hydroxy-THC, a metabolite that is said to be up to 10 times more potent than the original compound. This increased potency can result in a more intense and longer-lasting experience compared to smoking or vaping, where the Delta-9-THC directly enters the bloodstream without undergoing this conversion.

 

However, the trade-off for this increased potency is a slower onset of effects. When consuming edibles, it can take anywhere from 30 minutes to an hour to start feeling the effects, as the body needs time to digest and metabolize the THC. This delayed onset can be challenging for some users, as it requires patience and careful dosing to avoid consuming too much.

 

Overconsumption of edibles can lead to a “green out,” a term used to describe a state of intense discomfort characterized by symptoms such as dizziness, nausea, and extreme paranoia. The effects of edibles can also feel more “narcotic” or sedating compared to other consumption methods, which may be beneficial for those dealing with severe or chronic pain.

 

When it comes to managing deep, persistent pain, edibles or concentrates may be the best approach. The long-lasting effects of these consumption methods can provide sustained relief for several hours, making them particularly useful for individuals with conditions such as chronic back pain, fibromyalgia, or pain associated with cancer treatment.

 

It’s crucial to start with a low dose when trying edibles or concentrates for the first time, as the potency can vary significantly between products. Waiting at least an hour before consuming more is also essential to avoid accidental overconsumption. As with any cannabis use, it’s always best to consult with a medical professional to determine the most appropriate dosage and consumption method for your specific needs and medical condition.

 

 

While cannabis has been hailed as a natural and effective solution for pain management, helping millions of people worldwide, it’s important to recognize that it may not work for everyone. Cannabis is known to be a highly individualized medicine, meaning that its effects and efficacy can vary significantly from person to person. This variability is due to factors such as individual physiology, genetics, and tolerance levels.

 

Some people report experiencing significant pain relief after using cannabis, while others may find little to no benefit. This inconsistency can be frustrating for those seeking an alternative to traditional pain medications, as it may require a trial-and-error approach to find the right strain, dosage, and consumption method that works best for their specific needs.

 

Another challenge with using cannabis for pain relief is the lack of standardized dosing guidelines. Since cannabis interacts differently with each individual, there is no one-size-fits-all approach to dosing. This can make it difficult for those new to cannabis to determine the appropriate amount to consume, leading to potential overconsumption or under-consumption, both of which can hinder the desired pain-relieving effects.

 

While it is virtually impossible to fatally overdose on cannabis, consuming too much can lead to an unpleasant experience known as “greening out.” This is particularly common with edibles, as the delayed onset of effects can tempt people to consume more than they should. Symptoms of greening out can include intense anxiety, paranoia, dizziness, and nausea, which can be distressing and counterproductive for those seeking pain relief.

 

Despite the growing acceptance of medical cannabis, it remains a taboo subject in some circles. This stigma can make it challenging for individuals to openly discuss their use of cannabis for pain management with friends, family, or even healthcare providers. Additionally, the legal status of cannabis varies by country and state, making it difficult for patients to travel with their medication, which can be a significant hurdle for those who rely on cannabis for chronic pain relief.

 

While cannabis has shown great promise as a natural alternative for pain management, it is not a panacea. Its highly individualized nature means that some people may not experience the desired pain relief, while others may struggle with finding the right dosage or dealing with potential side effects. The persistent taboo surrounding cannabis use can also create social and logistical challenges for those who rely on it for pain management.

 

As with any medical treatment, it’s essential to consult with a healthcare professional to determine if cannabis is an appropriate option for your specific pain management needs and to develop a personalized treatment plan that takes into account your unique circumstances and goals.

 

HEALING VS. DISEASE MANAGEMENT, READ ON…

HEALING VS MANAGING PAIN

HEALING VS. DISEASE MANAGEMENT – CANNABIS AND BIG PHARMA!



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The Picks and Shovels of Cannabis Legalization?

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In recent years, the landscape of both cannabis consumption and food delivery has undergone a significant transformation. With the increasing legalization and normalization of cannabis use, coupled with the rise of delivery apps, a notable trend has emerged. This is the undeniable correlation between cannabis consumption and the surge in orders for fast food through delivery platforms.

The Cannabis Culture

Once associated with stigma and legal restrictions, cannabis has undergone a remarkable shift in public perception. The legalization of recreational and medicinal cannabis in various regions has paved the way for its acceptance and integration into mainstream culture. Today, cannabis is not merely a substance; it represents a lifestyle and a community. The rise of cannabis influencers, events, and dedicated social spaces underscores its burgeoning cultural significance.

Cannabis Usage Statistics

According to the polling organization Gallup, about half (50%) of American citizens have tried the drug marijuana at some point in their lives, which, by the way, is a record-breaking marijuana popularity. Meanwhile, almost one out of every six people in the nation (17%) report that they now “smoke marijuana,” citing Gallup’s historical data as the highest on record.

According to a 2023 research conducted by Harris Poll for MedMen, half (37%) of US women aged 21 and over choose to indulge in cannabis consumption. The survey revealed the majority of women use cannabis as a therapeutic measure; nearly two-thirds (60%) admit it for anxiety busters, half (58%) for insomnia alleviation, and more than half (53%) for pain relief.

Interestingly, a large mention of female marijuana users tries to keep the use of their commodity a secret, with numbers estimated at 65% of them notifying their relatives and friends, such as parents, children, and colleagues, of their marijuana use.

The legalization of cannabis is now prevalent across most of the United States, as indicated by Pew Research. More specifically:

  • 54% of American folk live in the States, where recreational marijuana use is legalized.

  • Only 74% of USA residents live in the regions where both recreational and medical marijuana is legal.

  • With about 79% of Americans living in counties that house at least one dispensary and nearly 15,000 dispensaries across the country, exposure to this phenomenon is dramatic.

California remains the top state with the maximum number of dispensaries. At the time of the analysis, 3,659 of them were double the number of the following ranking states.

Recent findings have shown that around 60% of the marijuana dispensaries in America are located in California, with just one dispensary not being within 60 miles of each Californian (99.5%). Based on figures in Los Angeles County, the dispensary alone can account for the total number of stores available.

Pre-rolling has quickly become the product group of the moment, coming second to Flowers and Vapor Pens on the popularity chart of the states. Their reach has experienced a massive uptick ever since the beginning of 2022. The Headset report shows that US pre-roll sales went 13.4% higher from January to August 2023 compared to the numbers in 2022.

However, the industry showed the most considerable growth compared to concentrates and edibles. In addition, pre-roll shares of overall sales soared by 32% from January 2022, helping them hold 15.3% of total sales in the US.

According to Headset, which processes industry data, Gen Z and Millennials together contributed 62.8% of US recreational cannabis sales and 70.8% of Vape Pen sales. The young Generation Z, who have grown comfortable with vaporizers, would like to shift their cannabis habits, which could be responsible for the lower number of teenagers using Vape Pens.

CivicScience has conducted an in-depth study that established that 21% of individuals who partake in Dry January (a trend where members quit alcohol for a month) use marijuana and CBD products as alternatives. This survey responded to the fact that a majority of people who swapped alcohol with cannabis were those whose ages ranged between 21 and 24 (34%), followed by people aged 25-34 (24%).

These findings implicate that it is the young people who are the growing demographic who now fancy taking up cannabis over their traditional alcohol choice. This trend has been witnessed since the onset of the pandemic.

Increased Cannabis Use Boosting Demand For Delivery Apps

According to a recent study conducted by Numerator, the daily consumption of marijuana is significantly influencing consumer spending habits. The research, based on nearly 6,000 cannabis users, reveals that these individuals are increasing their purchases of frozen food and relying more heavily on delivery apps such as DoorDash. Uber Eats compared to the average consumer. Notably, a popular choice among them for delivery is Little Caesars pizza.

The study indicates that consumers who use marijuana with psychoactive THC tend to be younger and have lower incomes. Around two-thirds of them use marijuana a few times per week, with 38% reporting daily use. They allocate more of their grocery budget to snacks and beverages, particularly sports and energy drinks, beer, frozen sandwiches, spirits, pizza, and appetizers.

Numerator’s press release highlights that daily THC users show even more pronounced preferences across various product categories. Notable differences include increased candy consumption, herbs & spices, frozen potato snacks, and packaged sweet snacks.

The impact of cannabis use on alcohol consumption appears mixed, with more frequent marijuana users spending less on alcohol compared to infrequent users. Surprisingly, over a third of THC users claim to have reduced their alcohol consumption since starting to use cannabis. However, they still outpace non-users in alcohol purchases overall.

The rise in demand for delivery services and fast food is evident, with THC users showing a greater likelihood of patronizing limited-service restaurants and using food delivery apps in the preceding three months. DoorDash, Uber Eats, and Little Caesars emerge as some of the most frequented options.

The study also contrasts CBD users, who typically skew older and have higher incomes, often seeking to manage health issues with the non-psychoactive compound of marijuana known for its relaxing properties.

 

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Harnessing the Power of AI to Build Your Digital Cannabis Brand

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The world of technology is evolving at an unprecedented pace, and one of the most significant advancements in recent years is the rise of artificial intelligence (AI). Whether we like it or not, AI is here to stay, and it’s transforming industries across the board. As an entrepreneur, you have two options: fight against the tide or embrace the power of AI to propel your business forward.

 

In this article, we’re going to explore how you can leverage the rising trend of AI to empower your entrepreneurial journey in another thriving industry: cannabis. The cannabis market has been experiencing tremendous growth in recent years, with more and more states and countries legalizing the use of marijuana for medicinal and recreational purposes. This presents a unique opportunity for entrepreneurs to build a strong consumer brand or B2B service in the cannabis space.

 

While the principles and strategies we’ll discuss can be applied to any niche, we’ve chosen to focus on the cannabis industry to demonstrate how AI can be a game-changer for cannabis consumers looking to transition from being mere consumers to successful producers. By harnessing the power of AI, you can create a digital cannabis brand that stands out in a crowded market and connects with your target audience on a deeper level.

 

Throughout this article, we’ll walk you through the process of building a cannabis brand using AI in 2024. From developing your brand identity and creating compelling content to optimizing your website and leveraging data analytics, we’ll show you how AI can streamline and enhance every aspect of your brand-building journey.

 

So, whether you’re a cannabis enthusiast with an entrepreneurial spirit or an established business owner looking to expand into the cannabis market, this article is for you. Get ready to dive in and discover how AI can help you build a thriving digital cannabis brand in the ever-evolving world of technology and cannabis.

 

Let’s get started!

 

 

When it comes to building a successful digital cannabis brand, the first step is to come up with a solid concept. This is where AI can be incredibly valuable. By leveraging the power of Large Language Models (LLMs) like ChatGPT, Claude, and others, you can generate a wealth of ideas and insights to help you identify a profitable niche within the cannabis industry.

 

To get started, simply prompt the AI to generate a list of potential cannabis-related money-making ideas. Be sure to provide some parameters to ensure that the ideas are feasible and align with your skills, interests, and resources. For example, you might ask the AI to focus on ideas that can be executed with a specific budget, or that cater to a particular target audience.

 

Once you have a list of potential ideas, take some time to review and evaluate each one. Consider factors such as market demand, competition, and potential profitability. You can even use the AI to help you conduct market research and gather data on each idea to inform your decision-making process.

 

If you already have a product or service idea in mind, you can skip the ideation step and instead focus on using AI to develop strategies for growing your brand and acquiring customers. For example, you might ask the AI to generate ideas for content marketing, social media campaigns, or email marketing initiatives that are specifically tailored to the cannabis sector.

 

When using AI to come up with a concept, it’s important to remember that the outputs generated by the model are only as good as the inputs you provide. Be sure to ask clear, specific questions and provide enough context to ensure that the AI can generate relevant and valuable insights.

 

Ultimately, the key to success in the cannabis industry (or any industry, for that matter) is to identify a unique value proposition and deliver a high-quality product or service that meets the needs of your target audience. By leveraging the power of AI to help you come up with a winning concept, you’ll be well on your way to building a thriving digital cannabis brand in 2024 and beyond.

 

 

Now that you have a solid concept for your digital cannabis brand, it’s time to bring that concept to life by creating a strong brand identity. This is where you’ll define the visual and verbal elements that will represent your brand across all touchpoints, from your website and social media profiles to your product packaging and marketing materials.

 

One of the first steps in building your brand is to establish your online presence. While it may be tempting to jump on every social media platform out there, it’s important to be strategic and focus your efforts on the channels where your target audience is most active. Take some time to research your ideal customer and identify the platforms they use most frequently. Whether it’s Instagram, Twitter, or LinkedIn, choose one primary platform to focus on initially and master it before expanding to others. This will help you avoid spreading yourself too thin and ensure that you’re able to build a strong, engaged community around your brand.

 

In addition to your social media presence, it’s also recommended to create a self-hosted website and start building an email list. Your website will serve as the central hub for your brand, where customers can learn more about your products or services, make purchases, and connect with your brand on a deeper level. An email list will allow you to stay in touch with your customers and keep them informed about new products, promotions, and other brand updates.

 

When it comes to creating your visual brand identity, AI image generators like Leonardo.ai, MidJourney, ChatGPT plus, and Canva can be a great starting point. These tools can help you generate ideas for your logo, product packaging, and other visual elements. You can then refine and build out these ideas using photo editing tools like Photopea or Canva to create a cohesive and professional-looking brand identity.

 

Finally, use language models like ChatGPT to help you craft compelling brand messaging, including your bio, mission statement, vision, and product or service descriptions. While these tools can be incredibly helpful in generating ideas and content, be sure to edit and refine the outputs to ensure that they align with your brand voice and values.

 

By following these steps and leveraging the power of AI, you can create a strong, memorable brand identity that will help you stand out in the crowded cannabis market and connect with your target audience on a deeper level. Remember to link all of your brand elements together, from your website and social media profiles to your product packaging and marketing materials, to create a cohesive and seamless brand experience for your customers.

 

 

Content creation is the lifeblood of any successful digital brand, and this is especially true in the cannabis industry. Fortunately, with the advent of AI technology, creating high-quality, engaging content has never been easier. By leveraging the power of AI, you can save time and resources while still delivering valuable content that resonates with your target audience.

 

When it comes to written content such as blog posts, landing pages, website copy, and email copy, Large Language Models (LLMs) like Claude and ChatGPT are your best friends. These advanced AI models can generate human-like text based on your prompts and guidelines, allowing you to quickly and easily create compelling content that informs, educates, and engages your audience. As of the writing of this article, Claude is widely regarded as the most advanced and capable LLM, but others like Meta’s LLaMa are also making significant strides.

 

For visual content, AI-powered image generators like Leonardo and MidJourney are revolutionizing the way brands create graphics and imagery. These tools allow you to generate stunning, high-quality images with just a few prompts and guidelines, saving you countless hours of design work. Even Canva, a popular graphic design platform, now offers AI-powered image generation tools that make it easy to bulk create visual content for your brand.

 

One thing to keep in mind when using AI-generated visual content is the potential for generic or repetitive designs. While bulk creation can be a great way to save time and streamline your content creation process, it’s important to ensure that your visual content still feels unique and on-brand. This is especially true for content like quotes, tips, and tricks, where the message may be more important than the visual itself.

 

In addition to content creation, backend automation is another key area where AI can help streamline your business processes. Email marketing software like Zoho Campaigns and Mailchimp offer powerful automation capabilities that can help you nurture your leads and customers, deliver targeted messages, and keep your audience engaged with your brand. However, it’s important to note that some platforms like Mailchimp have strict policies against promoting cannabis-related products or services, so be sure to carefully review each platform’s guidelines before making a decision.

 

Finally, AI can also be used to create a wide range of marketing materials, including business cards, flyers, virtual flyers, and more. By leveraging AI-powered design tools and templates, you can quickly and easily create professional-looking marketing materials that help you stand out from the competition and attract new customers to your brand.

 

 

As we’ve explored throughout this article, the rise of AI technology has opened up a world of possibilities for entrepreneurs looking to build a successful cannabis brand. From concept generation and brand development to content creation and automation, AI is revolutionizing the way businesses operate and grow.

 

For aspiring cannabis entrepreneurs, there has never been a better time to take the leap and start building your own brand. With the power of AI at your fingertips, you can quickly and easily create high-quality content, develop a strong brand identity, and streamline your business processes – all at a fraction of the cost and effort required just a few years ago.

 

As AI technology continues to evolve and advance, the possibilities for cannabis entrepreneurs will only continue to grow. With open-source models like Meta’s LLaMa on the horizon, we’re quickly approaching a future where entire “offices” can be contained within a single machine, allowing entrepreneurs to run their businesses with unprecedented efficiency and flexibility.

 

But perhaps most importantly, the rise of AI is leveling the playing field for entrepreneurs of all backgrounds and experiences. No longer do you need a massive budget or a team of experts to build a successful brand – with the right tools and strategies, anyone can create a thriving cannabis business from the comfort of their own home.

 

So if you’ve been dreaming of starting your own cannabis brand, now is the time to take action. Embrace the power of AI, stay ahead of the curve, and seize the incredible opportunities that await you in this rapidly evolving industry.

 

The future of cannabis is bright, and with the help of AI, there’s no limit to what you can achieve. So what are you waiting for? Start building your brand today, and join the ranks of the successful cannabis entrepreneurs who are shaping the industry of tomorrow.

 

AI AND CANNABIS, READ ON…

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