(530) 467-5690 Chris@TeachU.com

Your Cannabis Business Can Be Profitable

Face it, most people in the cannabis industry have very little experience running a legal, tax-paying business. That’s tough enough. But your industry is especially burdened with regulations and taxes that make it even harder to make a profit. I get it. I want to help you.

280E

280E can take the blood right out of your cannabis business. You feel like you are doing okay only to find out you owe $200,000 in taxes. I would bet you are are either not maximizing your legal deductions or that you are playing a dangerous game with taxes. Taxes are a dangerous to mess around with. Get solid, safe advice from someone who cares more about your business than their fee.

Partnership Problems

Remember when this was all about working (and playing) with friends? Remember when it seemed like a great idea to get into business together? Now it’s not so fun. Friendships are crashing, partnerships are breaking every day in the cannabis industry. If you are having partnership problems, they can be fixed before things get out of hand and legally expensive. No partnership problems yet? Make certain your operating agreement and partnership agreement has the right terms that will help solve your problem when it arises—because eventually problems will come up.

Dealing With Investors

You have the knowledge and you took the risk. Now you get calls every day from people who want to invest in your business. They throw around big numbers. You can have $5 million dollars to grow your business. All chill. Be careful! There are snakes in the weeds. I have reviewed the terms to many of these ‘investments’ and see a lot of danger in most investment offers. If you succeed, they take over. If you fail, they take everything. You must be very careful of people who want to invest in your business. If you do want investors, have a plan ready in advance. Saying “we’re open” is like saying “please take advantage of me”. Be careful about what you disclose. You may be talking to a competitor.

Employees

You are running a business. The sooner you run your business like a serious business, the sooner everyone will prosper. That means you must treat your employees right. That means your employees owe you a decent day’s work. You don’t have to get all ‘white shirt and tie’ but you must operate professionally to make money and to avoid potential law suits, disability, and unemployment claims.

280E, 8300, and then add the State Regs!

It’s like running on ice. You can slip at any moment or you can fall through. Seriously think about this. How many people do you know who have done super sick in the cannabis business? I see more show than dough.  The IRS is keeping records. The state (whatever state you are in) is always watching and changing the rules, the Federal Government is pondering the shut down of recreational marijuana sales, it’s hard to get banking, it’s crazy expensive to get insurance, and nearly impossible to find business experience in the cannabis industry.

Your Cannabis Business Can Be More Profitable

If you know what to do…

Free Consultation

Covering

Alaska * California * Oregon * Washington

I believe your business can do better. You can make more money and you can enjoy working in the industry you love. If you are an extractor, edible producer, shop owner, or a combination of these, you can do better.

Use my canna experience in your business:

    • Help with business plans
    • Pich decks and investor relations
    • Fix Partnership problems
    • Boost profits
    • Make realistic planning budgets
    • Organize accounting
    • Save on taxes
    • Organize management structure
    • Operate like a business and profit like one

My fees are reasonable and you will get results quickly if you allow me the freedom I need and follow the advice I provide. I won’t be a parent-like member of your team. There will be no scolding or blame placing for past mistakes.  My one and only job is to help you make more money. All work is 100% confidential.

Call me for a free consultation. Let’s get to know each other.

Chris Reich (Pronounced Rich)

(530) 467-5690

Chris@TeachU.com

280E

With Planning You Can Save on Taxes


IRS code 280E says that a cannabis business pays taxes based on gross profit rather than after the deductions available to a ‘normal’ business. That’s brutal. But there are ways to reduce your taxes with careful, legal planning. Don’t play games with taxes but do act smart.

Investors

Raising Money


You must first decide on the type of investor you want to work with. Investors want to know:

What is your track record?

What is your business plan?

What will their money buy? (Use of funds)

What is the anticipated ROI?

Partnerships

Partnership Problems Can Kill a Business


Failure to put the proper partnership documents in place from day 1 can lead to huge problems later. This important step is skipped by most people who enter a partnership in the cannabis industry. When millions of dollars are at stake, it won’t be all ‘chill’. Do it right. I can help and save you money.

Chris Reich, Business Adviser

I have been helping businesses succeed for over 25 years. My clients are as diverse as the U.S. economy and I’m proud to have worked for all of them. I won’t work with a business unless it’s legal and, in my opinion, ethical. I love business and I love to see people get the rewards they deserve for the work they do. My role is to help you make more money, clean up business problems, and protect you from unnecessary risk. Won’t you let me help?

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