Cannabiz Collects knows the cannabis industry. We also know credit worthiness and debt collection. We believe that offering credit will help our blooming industry to grow and blossom!
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If your letter writing, personal meetings, and phone calls have all failed to resolve a debt issue, it’s time to call in a professional — a debt collection agency or a lawyer specializing in debt collection.
The most obvious choice to collect an unpaid debt is a collection agency. Agencies come in all sizes — some are local, some specialize in handling certain kinds of debts, and others are national in scope. The cost varies, depending on the volume of business you bring to the table, and the amount of debt that is to be collected. Plan on paying 25 to 30 percent of the amount collected, with some agencies demanding a 50-50 split.
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As new cannabis investors and entrepreneurs hasten to enter the Green Rush, many, if not all, feel overwhelmed. A solid vision, business plan and novel product offerings are no longer enough to break through in this competitive marketplace. Business owners and operators spend countless hours on permits, compliance, financing, taxes, licensure, hiring staff and employee benefits, yet all that valuable time, energy and money is meaningless if reliable accounts receivable (A/R) methods are not in place. For today’s cannabis business owners, the Popeye cartoon character Wimpy’s catch-phrase, “I will gladly pay you Tuesday for a hamburger today,” doesn’t cut it in today’s environment.
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We are owed $50,000 by one of the largest retailers in the state, but we don’t want to ruin our relationship with them!” As collection experts, we are approached constantly with similar examples of clients worried to collect the cash they are yet to be paid. As our founders worked in the cannabis industry themselves, CannaBIZ Collects was formed to act as a responsible & respectful liaison to recoup outstanding A/R balances for their clients
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Come visit with us at the MJ Biz Conference in Washington, DC on May 18th!Washington DC has joined the ranks of the many U.S states currently permitting the recreational use of cannabis. While many have celebrated these groundbreaking changes, it does not mean that the new laws do not come without their own set of restrictions. If you are hoping to enjoy recreational cannabis in the state of Washington DC, we suggest reading on for a closer look at their current rules and restrictions.
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In the cannabis industry, many companies feel helpless when deciding how to manage and collect their outstanding, past due receivables. We have heard time after time, businesses “writing off” outstanding A/R because they have exhausted their own internal time and energy to collect
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Gov. Terry Branstad said Monday he likely will sign into law legislation to expand access to medical cannabis for more seriously ill Iowans, but first he wants to make sure the bill doesn’t have unintended consequences that would allow recreational use of marijuana-derived products.
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With new cannabis investors and entrepreneurs rushing to be a part of today’s “Green Rush”, it is not surprising that collections and accounts receivable management may be pushed to the background. Many canna-businesses today either do not have the personnel, systems, or business knowledge to properly manage their outstanding accounts receivables and payables.
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Canada has taken a major step toward legalizing marijuana for recreational use. Prime Minister Justin Trudeau's government introduced legislation that would allow adults to possess, share and purchase marijuana, while also strengthening penalties for those who give or sell the products to youth. This law has been hotly anticipated, with pot producers and the medical community watching closely. It makes Canada "the largest federal jurisdiction in the world to legalize cannabis consumption," according to The Toronto Star.
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The cannabis business isn't an easy one. On top of massive capital outlay used for building initial infrastructure, a cannabis business operator must also navigate a maze of difficult and confusing bureaucratic red tape.
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In an era when cities across America are providing refuge for undocumented individuals avoiding immigration officials, lawmakers in California are looking to turn their state into a similar “sanctuary” for the marijuana industry and the many residents who legally use the plant.
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Florida committee decides Amendment 2 doesn’t include smoking, vaping, edibles
Bill also caps number of growers at the current number of seven, and maintains a 90-day waiting period for patients
TALLAHASSEE, Fla. — A bill to implement Florida’s medical marijuana constitutional amendment has passed its first committee in the state’s House of Representatives.
The bill (HB 1397) passed the Health Quality Subcommittee on Tuesday. It must go through two more committees before reaching the House floor.
Rep. Ray Rodrigues’ bill would largely keep in place the regulatory structure set up the past three years, including keeping the number of growers at the current number of seven, maintaining a 90-day waiting period before patients can receive cannabis and banning smoking, vaping and edibles.
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Cannabis prohibition at the federal level could soon come to an end thanks to congressional legislation introduced Thursday morning to remove cannabis from the federal Controlled Substances Act and instead regulate and tax it similarly to alcohol.
US Sen. Ron Wyden (D-OR) and House Rep. Jared Polis (D-CO) introduced the bills, which end federal prohibition, allow states to decide whether to legalize, and impose certain federal regulations on cannabis businesses in legal states.
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The first tangible results of state voters' decision to legalize marijuana are being felt as possession and home growth of marijuana becomes legal. Voters narrowly passed the ballot question in November, and the waiting period between the vote and legalization has expired.
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The change in attitudes toward cannabis and in legal access to marijuana around the US over the past several years is staggering.
As of last fall, 57% of adults in the US said they thought marijuana should be legal, with only 37% taking the opposing view — which is essentially a reversal of the opinions held a decade ago.
And after November's elections, 20% of Americans live in a state that has voted to legalize recreational use. Far more live in states with some access to medical marijuana.
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One of the biggest health insurance companies in the Netherlands announced last month that it will stop covering the costs of medical cannabis. The announcement, which comes at a time of increasing use of medical cannabis in the country, has sparked sharp criticism among patients.
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Maryland's would-be medical marijuana growers face a conundrum known as the "immaculate conception" problem: How do you grow legal marijuana plants when it's a felony to obtain the seeds?
The first step in growing state-sanctioned legal marijuana is to break the law, a paradox that has regulators nationwide looking the other way while growers keep mum about how they start their businesses.
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If ever you needed proof that we live in an age of confusion about marijuana laws, let me share with you the story of Ted Hicks and Ryan Mears, two Sacramento-area entrepreneurs who decided to start a legal medical cannabis business last year and ended up on the business end of assault rifles wielded by officers from a multi-agency, anti-drug task force.
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Legal weed is big business.
The North American marijuana market posted $6.7 billion in revenue in 2016, up 30% from the year before, according to a new report from Arcview Market Research, a leading publisher of cannabis market research.
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