A photograph of Calvin Frye speaking at the podium at CWCBExpo. Calvin is wearing a green shirt and glasses. He is mid-speech.

5 Lessons for Cannabis Entrepreneurs 

The cannabis industry is a hotbed of entrepreneurial activity as new markets open and established ones evolve. Cannabis represents a wealth of opportunities for those who are willing to take risks and innovate, from manufacturers who develop new product types to ancillary services that provide a particular expertise to support flourishing cannabusinesses. 

However, like any industry, there are many pitfalls that entrepreneurs may succumb to, and there are particular challenges in the cannabis industry to be aware of. Much can be learned from other business owners who have experience which could help new cannabis entrepreneurs succeed.

1. Do your research 

As a cannabis entrepreneur, doing your homework is one of the most important steps to take. With the industry still evolving and rapidly changing, it’s critical to stay up-to-date on the latest laws, regulations, and industry trends. Doing your research will not only help you to make informed decisions and avoid costly mistakes but can also give you a competitive edge by helping you identify opportunities in the market. For example, state laws change constantly, and knowing their evolution can help you make savvy, informed decisions about your business.

Resources like the Cannabis World Congress & Business Exposition (CWCBExpo) monthly newsletter, for example, is a great way to stay up-to-date on the latest trends and developments in the industry and connect with other professionals. Other publications, such as Marijuana Moment and Cannabis Business Times, offer valuable insight and information to help you stay informed as well. 

“Find out what has worked and what has not worked and, most importantly, find out what the actual rules are in the state that you wish to operate in because they vary from state to state,” says Calvin Frye, owner of genetics company Cloneville and member of Cannabis World Congress & Business Expo’s advisory board. 

2. Develop a solid business plan 

A roadmap is a must for any entrepreneur in any market, and cannabis is no exception. A business plan serves as your guide forward and is a must for defining your goals, identifying your target market, and developing strategies for financing and growth. The critical elements of a business plan typically include determining your mission statement, conducting market research, developing a marketing strategy, setting goals, and creating financial projections. 

Suppose that you are a cannabis cultivator looking to expand your business. A well-crafted business plan would involve determining your target market and your company’s purpose, values, and finances to ensure that expansion is feasible and sustainable in the long term. It can also serve as an important document to present to potential investors to help you raise the capital you need to launch your business. 

3. Network early and often 

It’s often said that “it’s not what you know, but who you know” that matters in the business world. Building relationships early and often can help you better understand the industry and gain new insights, especially in rapidly-evolving spaces like cannabis. Attending industry events like CWCBExpo, for example, can be a great way to meet other industry professionals and learn from their knowledge and experience. 

When networking, remember to be authentic, genuine, and respectful. Focus less on what you can get out of the relationship and instead look for ways you can add value and help others. And don’t forget to bring your business cards or create a digital card!

Other tips for networking success include asking questions and following up with the people you meet. It never hurts to send a quick email or LinkedIn message after the show to stay in touch and continue building your network. 

4. Build a strong team

Bringing quality talent into your business early is critical for success. With so much competition and so many regulatory hurdles to navigate, you’ll need a team that can help you execute your vision and stay ahead of the curve. When building a team, look for people who not only share your values but bring unique skills and perspectives to the table. For example, if you’re a cannabis retailer, you may want to seek out team members with experience in customer service or marketing. 

Look for people who are passionate about the cannabis industry and be sure to prioritize a positive and inclusive environment. Investing in training and development can also help your team develop and grow and build a culture of continuous learning and improvement. Also consider hiring professional services to support your company. Legal counsel is an absolute must, but financial, marketing, and HR professionals can also augment your team.

5. Embrace innovation 

The cannabis industry is constantly evolving, with new products, technologies, and regulatory changes shaping the landscape daily. As an entrepreneur in this space, finding strategies to stay ahead of the curve is essential. Embracing innovation can help you to differentiate your business from the competition, create new revenue streams, and better serve your customers. 

Think about virtual reality as an example. A cannabis retailer may explore the use of VR to create immersive in-store experiences and better showcase their product offering to customers. Manufacturers may work to refine consumer favorites or develop totally new types of cannabis products. Whether you’re a cultivator, retailer, or anything in between, staying open to new ideas and being willing to take risks will help position your business for long-term success. 

Challenges and opportunities in the cannabis industry 

Cannabis entrepreneurs face a unique set of challenges that can make it complicated to operate in this space. So as you begin your cannabis industry journey, be aware of the following:

  • Legal and regulatory challenges: Cannabis entrepreneurs face a complex and constantly evolving legal landscape, with different laws and regulations governing the plant at federal, state, and local levels. Navigating these challenges is one of the most important priorities for a cannabis entrepreneur.

  • Advertising and marketing restrictions: Cannabis businesses are often subject to strict advertising and marketing regulations, which can limit their ability to reach their target audience and build awareness. These restrictions include traditional and digital advertising limitations, from billboards to social media promotion.

  • Stigma and social acceptance: Despite growing acceptance and legalization of cannabis, there is still a significant amount of stigma associated with the industry. These barriers can limit public support for cannabis businesses and restrict access to certain services.

  • Limited access to traditional business resources: Due to the unique challenges faced by cannabis businesses, entrepreneurs may have limited access to conventional business resources such as banking, loans, networking opportunities, and mentorship programs. 

With great challenges, however, come great opportunities for growth and positive social change. Whether it’s through supporting medical research or advocating for legalization, entrepreneurs navigating the complex landscape of cannabis have the chance to make a difference in the lives of others. So while the challenges are significant, the potential rewards are even greater. 

“It’s never been a more interesting or exciting time for the cannabis industry in the Northeast,” said Kelley Crosson, owner and president of KC Inc. “There is space for everyone in this ever-changing market. ‘Find your focus’ is probably the best advice I can give at the moment.”

Taking the right steps 

Being a successful cannabis entrepreneur requires passion and determination. Luckily, resources like CWCBExpo provide an opportunity to connect with other entrepreneurs, learn about new technologies and products, and stay in the loop on the latest industry trends. Attending our in-person expo and reading our blog can help you to build relationships and stay ahead of the curve in this exciting industry. 

East Side Trio, Networking Mixer, NY 2022

How to Create an Impressive Trade Show Booth 

Exhibiting at a trade show is an excellent opportunity for cannabis businesses to showcase their products and services and connect with potential customers and partners. But with so many exhibitors alongside you, it can be tough to stand out from the crowd. If you want to make an impression with a trade show booth that other attendees won’t soon forget, follow these great tips.

1. Focus on a theme

A well-executed theme can help you to stand out from the crowd and make a memorable impression on attendees. Choose a theme and use it to guide your design and messaging. Remember that attendees are often busy, so be direct and to the point to ensure that your brand is communicated effectively. 

 

For example, you might choose the theme of “health and wellness” to promote the therapeutic benefits of your products. A booth with this theme might incorporate aspects like calming colors, comfortable seating, and even interactive elements like aromatherapy or a meditation area. Messaging could focus on the medicinal benefits of cannabis products and the importance of self-care, with branded giveaways that attendees can use at home during their own self-care routines.

2. Consider your design and space

Create a trade show booth that’s both visually impressive and functional. The design of your booth should reflect your brand and products or services, while also being visually appealing and easy to navigate. 

 

For example, if your business specializes in high-quality, environmentally friendly edibles, you might choose a theme highlighting the ingredients and craftsmanship of your products. You could use wooden crates or baskets to display your products and natural, earthy tones to emphasize the relationship between your product and the plant. 

3. Make it interactive

Creating an interactive booth experience is a great way to draw foot traffic over to your booth and kick-start that initial conversation about your company. Interactive elements can include hands-on product demos, promotions like raffles or prize wheels, or games that tie into your brand or products. By offering a fun and engaging experience, you can increase the amount of time attendees spend at your booth and give yourself additional opportunities to discuss your products and services.

 

For example, a cannabis testing lab could create a virtual reality (VR) experience that simulates a cannabis testing facility. Attendees could wear a VR headset and interact with a digital environment that showcases the company’s facilities and services. A fun and unique experience like this is sure to be the talk of the show floor too, directing other attendees to come to your booth and try it out!

4. Create buzz with cool giveaways

Offering cool, branded swag is a great way to create buzz and draw attention to your trade show booth. Swag items can range from simple giveaways like branded pens or stickers to more unique items like rolling papers or portable chargers. To make your swag stand out, consider offering items that align with your brand messaging or products. 

 

 

For example, if your business focuses on cannabis-infused beverages, you could offer branded tumblers or bottle openers, so the next time attendees are having a refreshing drink they think of your brand. Here are some other examples of cool swag items to consider: 

 

 

  • Customized lighters 
  • Branded tote bags or backpacks 
  • Phone chargers or power banks with your logo 
  • Branded candles or incensed 
  • Cannabis-themed socks or hats 

Giveaways that are visible on the show floor, like tote bags or hats, are especially effective for getting your brand seen by other attendees.

5. Connect with attendees on a personal level

At the end of the day, people do business with people – not machines. While incorporating cool tech and interactive activities is an effective way to draw people in, it’s still vital to connect on a personal level to truly make a lasting impression. Make sure that your booth staff is friendly, engaging, and knowledgeable about your brand and what it has to offer. Make eye contact, offer a firm handshake, and engage in genuine conversation with booth visitors! By focusing on the human element of it all, you can create a memorable experience that goes beyond just a flashy display.

 

 

What about turnkey booths?

 

 

While some exhibitors prefer full control over their booth display, many others opt for turnkey booths to eliminate the upfront work and focus on other efforts instead. A turnkey booth is a pre-built, fully equipped exhibit space that is paid for and ready to go when you arrive at a show. These booths typically include all the essential components such as walls, lighting, carpeting, and furniture – making it easy for exhibitors to simply show up and start promoting their business. CWCBExpo offers turnkey booths for exhibitors – inquire with us for the next show!

 

 

Your booth is a hit — now what? 

 

 

Attracting people to your trade show booth is just the first step for a successful event. Once you’ve captured someone’s attention, it’s important to make the most of your time by engaging with attendees and building relationships that can lead to future business opportunities. Here are some ways to do just that: 

 

 

  • Be approachable: Stand up, smile, and make eye contact to create a welcoming atmosphere. This will encourage attendees to approach your booth and start a conversation. It’s a good idea to look up and forward, and not look down at your phone, during quiet periods.
  • Leverage social media: Show off your booth on social media and invite others to engage with your company online. This is a great way to extend your reach beyond the trade show and increase your brand’s visibility.  
  • Collect contact info: Use a tablet, trade business cards, create a QR code, or offer a sign-up sheet to collect contact info from potential leads. This will allow you to follow up with attendees after the event and continue building relationships with potential clients or customers. 
  • Follow up: Reach out to leads after the event via email, Linkedin, or other communication channels. This is a crucial step in solidifying relationships with potential customers and converting leads into actual deals.  
  • Network with other exhibitors: If you have a team to operate the booth, take turns walking the floor and introducing yourself to other exhibitors to build new industry relationships. You can also schedule meetings during the show and attend panel discussions or Q&As.
  • Attend post-networking events: Participate in post-trade show events to network and build connections with attendees and exhibitors outside of the exhibition hall. Post-show events are a great way to catch up with people you met during the show and reinforce that first impression.

Bring home a Best of CWCBExpo Award for your unforgettable booth

Ready to put these tips into action? This year at CWCBExpo, your booth could be nominated for a Best of CWCBExpo Award. Unleash your creativity for the chance to be voted the winner of one of six booth superlatives, including:

 

  • Best Large Booth
  • Best Small Booth
  • Best Product Display
  • Most Interactive Booth
  • Most Unique Booth
  • Best Booth Swag

Not exhibiting at CWCBExpo but still want to get in on the fun? If you see a booth you want to vote for in one of these six categories, simply take a photo of it and post it to Instagram with the superlative you chose in the caption — and don’t forget to tag @cwcbexpo as well. Winners will be announced Saturday, June 3 during the final day of the show, and each will receive a framed certificate commemorating their unforgettable booth!

Bring your best to CWCBExpo

CWCBExpo is the premiere trade show for cannabis companies looking to showcase their brands and network with other industry professionals. With the show right around the corner, it’s time to start prepping your booth, designing your swag, and perfecting your pitch. Whether you’re a first-time exhibitor or an experienced vet, following these tips will help you to stay ahead of the curve and make meaningful connections. 

CCELL Exhibit Booth, NY 2022

What Is A Turnkey Booth? How They Make Trade Show Exhibits Easy

Trade shows and exhibitions are a must for cannabis companies looking to make connections and elevate their brand. Planning for a trade show or conference requires a lot of time and thought. 

While there are many ways to exhibit your brand, every company needs a display booth to draw in attendees and start the conversation off the right way. Luckily, there are turnkey booths that take the guesswork out of setting up a booth while ensuring your presence at the show is impactful and memorable.

What is a turnkey booth?

A turnkey booth is one that is already set up and ready to go right when you arrive at the trade show. Turnkey booths generally include all the basics you need for a successful exhibit, including tables and chairs, lighting, cabinets, and a back wall. While some exhibitors prefer full physical and creative control over their display booth, many others opt for turnkey booths as a way to eliminate the upfront work of designing and building their booths, ensuring their display is set up and ready to go on arrival. 

Considerations of a Turnkey Booth

Whether you are an experienced or first-time exhibitor, you may be wondering if a turnkey booth is right for your brand. Here are a few of the considerations regarding turnkey booths to help you decide whether one is right for you. 

  • Less work: Most exhibitors opt for turnkey booths to eliminate the hassle of planning and setting up everything from scratch. Turnkey booths are set up on the show floor before exhibitors arrive and are ready for action so you can show up and start networking and interacting with attendees.
  • Professional setup: A well-designed and appointed turnkey booth can help company’s success at any exhibiting event. Opting for a turnkey booth for any exhibition is a great way to ensure you have a clean, professional setup that’s built to accommodate attendees when they arrive at your booth.
  • Easy to customize and break down after the expo: Turnkey booths make it especially easy to customize and highlight your company’s brand identity and presence. There is always the option for you to hand-carried items into or have other items shipped to the expo to display in the turnkey booth. Adding your own company logo, special signage and any promotional materials you may have brought to the expo give you an opportunity to enhance the turnkey booth and maximize interaction with attendees.  

What to look for in a turnkey booth

If you’re planning on opting for the turnkey booth option, ask your sales rep for a complete account of what a turnkey booth includes. Some key factors to consider when looking for a turnkey booth include the following. 

Furniture

It’s important to know that you have enough furniture and table space for your team to properly convey your brand. When considering a turnkey booth, ask how many tables and chairs are included, and whether that table comes with a skirt or tablecloth.

You’ll want to make sure that your seating and tables are set up in a way that is comfortable for your team and also welcoming to guests. This will enhance the likelihood that attendees feel comfortable approaching your booth to have a conversation with you and your team. You’ll also want to make sure that the table is big enough to space out your giveaways and any marketing material you plan to bring.

Lighting

Lighting can make or break an advertising opportunity. While some brands may be able to exhibit successfully using whatever lighting is provided by the event space, other companies require specific lighting to properly display their products. And in the cannabis industry, some companies’ products are the lighting!

For some exhibitors, the venue’s overhead lighting is sufficient, but you may be able to add on extra lights. Companies exhibiting products and merchandise generally require additional lighting to make their offerings stand out. In addition to spotlights and ambiance, lighting possibilities for turnkey booths include everything from neon signs to ring lights for selfie opportunities. It’s always a good idea to check with the exhibition to find out what kind of lighting is available for turnkey booth exhibitors. 

Storage

Keeping your exhibit booth clean of clutter demonstrates to attendees and industry professionals that you care about making them feel comfortable and that you want to do business. Always double-check that the turnkey option provides enough storage for your company’s needs. In addition to space for your team members to store their belongings, you’ll always want to confirm there is somewhere to store any overflow of freebies or marketing material that is safe and out of the way. For some exhibitors, the space underneath the provided table (covered by a table skirt) is sufficient.

Branding options

Some turnkey booths include the creation of signage that displays your company name. What this looks like can vary, but you can expect to have your name hanging from the top of the turnkey booth or from the table. 

Decor

Prioritizing cohesive decor is absolutely essential when planning an exhibitor booth. Keep in mind that guests and exhibitors will likely be drawn toward displays that are professional, organized, and uniform. Because many turnkey booths include rugs or back walls (sometimes pipe-and-drape covering the wall or booth behind), finding out the color scheme in advance will make it easier to plan your branding accordingly.

How much does a turnkey booth cost?

The costs of turnkey booths vary depending on the trade show or convention you’re attending. 

CWCBExpo offers an affordable turnkey booth option. Visit our website to sign up as an exhibitor, or contact our team for more information on turnkey booths for the June 2023 event. 

Preparing for success

Planning ahead is the best way to ensure success at any cannabis exposition. Designing or ordering your display up as far out as possible will ensure you are prepared with everything you need, and provide time for any changes before the event comes around. Exhibitor passes and turnkey booths for the June 1 – 3, 2023 CWCBExpo are currently on available for a discounted rate until Nov. 1, 2022.

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