(This is an abridged model of a column that seems within the May-June challenge of Marijuana Business Magazine.)
Frustrated by all of the hoops you and your companions have been leaping by in hopes of getting the myriad licenses required to open a hashish business – regardless of which state you’re in?
Then it is advisable know Rusty Wilenkin’s story.
When Wilenkin opened Old Pal – a marijuana flower and oil model based mostly in California – in 2018, he structured the corporate so he didn’t have to amass a single license.
In placing his personal spin on white labeling, he prevented the licensing hurdles that plant-touching firms sometimes should navigate to open their doorways.
Old Pal, which has 10 business companions, contracts with roughly 100 cultivators licensed to develop or manufacture marijuana within the markets the place the corporate operates.
The firm provides its producers with packaging for flower and vape cartridges, then promotes the Old Pal flower and oil manufacturers it sells by hashish retail shops.
Old Pal’s strategy has been profitable sufficient that, lower than two years after its launch, the corporate expanded past California to Nevada and Washington state and now has companions in Florida and Michigan. All advised, Old Pal has merchandise in roughly 350 hashish shops.
Wilenkin spoke with Marijuana Business Magazine concerning the ins and outs Old Pal’s business model, broaching matters reminiscent of: