Despite our differences, there’s one thing we can all agree upon: the cannabis industry is one of the most exciting, rapidly growing, and vibrant markets of late. Untouched by COVID-19 precautions (in fact, sales and use grew!) and legalized in more and more states each year, it’s clear to see the future of legal cannabis is bright (even federally).
For cannabis consumers, it’s a dream to be in the industry they’ve felt a part of long before legalization. And for smart business owners, it’s a time to capitalize on the predicted 11% compound annual growth rate of the legal cannabis industry from 2020 to 2030 and a market that’s expected to rake in $32 billion this year alone.
Until recently, however, getting your foot into the door of the cannabis industry was a nearly impossible feat. With banks being reluctant to offer traditional loans and financing, a difficult application process, and exorbitant licensing fees, the industry has unusually high (pun intended) barriers to market entry.
Because the industry is changing so quickly, opportunities for licensing and making products with cannabis are also growing. And we’re proud to say My Green Network has been at the forefront of the change as California’s premier cannabis contract manufacturer and leading cannabis white-label California producer.
So, if you’re an aspiring cannapreneur, a current business owner looking to diversify their already licensed business, or simply interested in turning your canna dreams into reality, you’re at the right place. Keep reading to learn more about the top 6 benefits, MGN offers Green Leaders, out-of-state manufacturers, and those simply seeking to scale with the growing industry.
The Top Six Ways MGN Supports Canna Entrepreneurs
Without further ado, here are the top six ways My Green Network supports canna entrepreneurs in California.
#1 - Streamlined Market Entry
Traditional licensing can take up to two years to complete the application process, and get up and running. With My Green Network’s Type-S license and white-label opportunities, you can go from production to sales in less than that. You’ll also save time, money, and effort on start-up costs, locations, and equipment.
#2 - Co-Manufacturing and White Labeling Opportunities
We understand that there’s no one-size-fits-all plan for every cannabis brand. That is why we offer a variety of partnerships and memberships so that you can find the one that best fits your unique vision or business.
As a licensed cannabis contract manufacturer with a “Primary Type-S License," My Green Network can allow locally licensed “Type-S Licensees” to use our facility, equipment, and space to produce their own brand or product.
Even more, with our facility and state-of-the-art equipment and processes, MGN also offers private-label or white-label cannabis products to existing or new companies looking to be seen on the shelves, fast. This is an ideal route for current cultivators, manufacturers, distributors, retail stores, or retail delivery services to tap into current trends, offer exclusive launches, and expand their brands’ product category reach.
#3 - Compliance and Regulatory Support
Another unique trait of the cannabis industry is that it’s highly regulated for consumer safety. Unfortunately, too many new brands don’t take compliance and regulatory requirements seriously until they get a warning, a violation, or even worse, monetary fines, license suspension, or revocation. With so much on the line, compliance needs to be of the utmost importance to avoid bumps in the road; otherwise, your company might not survive hitting them.
To give you an idea, here are just a few examples of recent compliance woes -
- In 2021, an Oregon processor was fined $100,000 for sidestepping packaging rules.
- In Nevada, one company’s license was fully suspended in 2021 for METRC and licensing violations.
- Even big brands like Curaleaf, are settling over 10 lawsuits, and paying over $100,000 in settlements for labeling mishaps.
With My Green Network, you have an attorney-founded, detail-oriented team that has the resources and skills to handle complicated requirements while streamlining METRC and labeling, two of the most common areas for compliance issues.
#4 - Advanced Equipment and Expertise
When building our facility, we cut no corners or expenses when it came to equipping My Green Network with the best of the best. We wanted to provide this advantage to aspiring entrepreneurs as well as be able to produce quality and quantity efficiently.
“It's a detail-oriented business, but critical to being successful here is being able to find appropriate contract manufacturing partners that can handle the science and make sure you're in full compliance to the highest level possible,” says John Masis, of En-Tranced, about working with My Green Network.
Beyond our fully equipped, state-of-the-art facility, when surveying our members, they reported having the support of an attorney-backed business during licensing, production, and sales as a primary reason for partnering with MGN.
#5 - Community Advocacy
We don’t just talk the talk at My Green Network; we’re passionate enough for the industry to walk the walk, too. Our team was recently involved in supporting a new Santa Ana ordinance, which will open up the area’s ability to tap into the thriving market.
Over the past few years, My Green Network has been working with Santa Ana's city staff and council to make the law happen. The new ordinance will create a healthy environment for shared-use manufacturing and was made possible by the Orange County Advocacy Alliance and Santa Ana cannabis businesses.
#6 - Retail and Delivery Placement Assistance
Our MGN Artisan's Corner gives white-label cannabis brands and infused product manufacturers a direct link to placement for retail or delivery. Ask any brand that’s had to make retail or delivery sales themselves—this is a huge advantage for newbies without connections in the industry.
As for everyone else, out-of-state brands can more seamlessly enter the market with retail and delivery support, and current California brands can seek to expand into the Los Angeles region.
MGN: Cali’s Premier Cannabis Contract Manufacturer
Now that you know more about the different California cannabis license types and the benefits of working with an experienced cannabis contract manufacturer, you’ve gained a whole new perspective on what it takes to get into the cannabis biz.
With the MGN team supporting your vision or strategy, you can begin your own cannabis brand more quickly, scale an existing company, or become an MSO in a bustling California market.
So, now what? Schedule a time to tour the My Green Network’s cannabis cloud kitchen, connect with us on LinkedIn, or view our website now for more details and to tap into our collection of Green Leader Testimonials. And, cheers to taking the next step to becoming the next infused product manufacturer California needs to see!