Apex Filling Systems will be at CannaCon Midwest, April 2nd & 3rd, 2020, at the TCF Center in Detroit, Michigan. The event is the nation’s leading business to business cannabis conference, with events happening all throughout the United States.
Managing Cash Flow in a Period of Rapid Growth: A talk from Apex CEO Alicia Cannon (April 2, 2020, 12:30 pm)
Cannabis entrepreneurs are still enjoying astonishing growth in their industry – with legal sales projected to reach $30 billion by 2025 – but many still risk a significant loss of profitability if they don’t understand how to support the financial health of their companies. The cannabis market has been entering a stage where growth is still strong, but the financial challenges of a maturing market are making it harder for businesses to be profitable. Some of the new trends include:
Financing concerns for multi-state operators. In addition to the usual costs of running a cannabis business, multi-state operators have to contend with abiding by different sets of rules per state, which makes it hard to achieve economies of scale. Some of these companies have had to sell off component entities to raise capital.
High tax rates. One of the big motivators for states to pass laws permitting cannabis sales was the prospect of increased tax revenue. California’s total tax burden for cannabis growers includes a state and local tax, a wholesale tax and a 15% excise tax, all of which cut into the sellers’ profitability.
Increased regulation. With increased legality comes an increase in government oversight. To use California as an example again, cannabis growers are regulated by at least ten state agencies while also complying with local regulations. Graham Farrar, CEO of Glass House, says, “You don’t just go in and start selling. You’ve got to get zoning, building, fire, and the tax man, and public health.”
With these new pressures, companies can no longer assume that they will be profitable no matter what. In this tightening but still profitable market, business owners need to clearly measure their financial results, identify the activities that sabotage them and know how to correct those mistakes efficiently and sustainably.
In this seminar, Apex CEO Alicia Cannon helps you take the mystery out of your financials and develop the financial optics you need to help your business succeed. She will show you how to read and understand your P&L, Balance Sheet, and Cash Flow Statement. The insights you will gain can help you maximize your profitability and plan your company’s future in all types of markets.
Other opportunities for professional advancement
In addition to Alicia’s seminar, attendees of CannaCon can network, visit vendors at the expo and participate in additional, content-rich seminars such as:
- Mold Prevention and Remediation within the Cannabis Industry
- How to Choose Software and IT Solutions to Grow Your Canna-Business
- People, Process, Plants: Designing a High-Performance Cultivation Facility
- The Importance of Food Safety in the Cannabis Industry
… and more.
Talk to Our People and See Our Equipment
Apex Filling Systems will also be exhibiting at CannaCon. We will have the Tincture Filler Capper on display for attendees to see up close. This machine is designed specifically for the CBD and essential oil industries, combining filling and capping into an “all in one” solution. It’s small footprint and portability make this a good option for companies that are just beginning to automate their operations.
When in use, the loading turntable unscrambles and transfers the empty bottles to the automatic conveyor where they are automatically indexed and filled. The bottles are then indexed to the capping station where the single head chuck capper torques the hand placed caps. Afterward, the bottles accumulate on the bottle accumulation turntable. You can see it in action at the conference or on our site.
Once you arrive, take the time to talk to our team. We have a relationship-centered business approach that puts the highest priority on the long-term satisfaction of our clients. We will be with you well past the date of sale to help with any issues or changes your business may face. We guarantee that every piece of equipment you purchase from us will perform exactly as it’s supposed to.
More information about CannaCon can be found here. An expo-only pass costs $40 for one day and $70 for two days ($60/$90 at the door), and access to both the expo and any of the seminars is $125 for one day and $175 for two days ($150/$200 at the door).
Let Apex Help You
Apex offers all of our clients customized solutions to their filling needs. Call us at 219-575-7493 or visit our page here.