CannaBIZ Collects, a Florida company, is the largest collections company specializing in the cannabis industry. A collaborative effort between partners Cody Ziering and Brett Gelfand and commercial collection attorney, Ross Gelfand, the company is one of the first to address the growing need for cannabis collections services.Read More
A financial risk every business faces when selling on credit is that the client won’t pay an invoice when comes due. When this happens, it hurts your cash flow and leads to financial issues. If your business used financing to supply their P.O. you can end up footing the interest bill. This means you’re out both the money from the client order as well as the interest accrued to make the sale.
One way to help control this financial risk is to have the owner of the company sign a Personal Guaranty making them personally liable for the debt.Read More
Custom Credit Applications by CannaBIZ Collects! Allow us to create a customized application your business can use next time it thinks about extending credit!Read More
The cannabis industry is growing. However, with adult use being first legalized in Colorado 4 years ago, the industry is still in its infancy. Like all other businesses, reputation is extremely important and canna-businesses must create brand awareness, create valuable relationships, and scale operations to one day become a leader in their space.Read More
Entrepreneurs around the globe need to settle on the hardest choices, and do so consistently to properly influence their organizations. It can be hard to settle on the best choice for your organization, but then again numerous operators battle with settling on the correct decision. This article centers around providing the costly monetary errors that entrepreneurs make every day.Read More
Time is a powerful thing. In some circumstances in cannabis time can be your friend. Taking an extra day to review a contract, great idea. Giving your plants an extra week to flower, so they can reach optimum potency and flavor profiles, is a good idea. Leaving your freshly blasted concentrate slab in vacuum ovens for an extra 12 hours so it purges properly, is a great idea. Taking the extra time, to hand manicure and trim your bud, is a great idea. A many number of things in cannabis benefit from extra time. However cannabis debt collection is most certainly an exception to that rule.Read More
In business it’s common to experience a situation where you are “owed money”. Throughout the long road of starting a business, entrepreneurs work relentlessly to ensure quality products/services, seek and train highly motivated sales representatives, provide excellent customer service, and even extend credit terms. However, as the business begins to pick up momentum, debtors can cause major accidents on the road. As your business is driven with prestige, backed by discipline, organization, positive cash flow, and strong leadership, it is inevitable you will unexpectedly find yourself near at least one of these three classes of debtors.Read More
As a business owner, there are an endless number of tasks to complete and an unseen number of issues that arise without notice. Often times, the business operator wishes there were 30 hours in a day. Of course, as we all know, this is simply not the case. In order to scale an organization, a business owner must delegate certain activities to staff. When the business started, the owner was happy to be on the road selling their own product, but as the business has grown the owner’s skills and knowledge are now needed elsewhere.Read More
Extending credit in the cannabis industry has some risk, but with that risk comes tremendous upside. Is your canna-business extending credit properly?Read More
Harvest season is here. Supply will go up, demand will remain the same, and as a result wholesale prices will fall. You need a differentiator to stay competitive. Extending credit should be that differentiator. We are here to help.Read More
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.Read More
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 clientsRead More
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.Read More
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 collectRead More
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.Read More
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.Read More
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.Read More
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.Read More
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.Read More