THE CANNABIS OPPORTUNITY
The cannabis industry is the fastest growing business segment America has seen in decades. With this rapid growth comes tremendous opportunity for well-managed, well-capitalized companies. However, it also is fraught with risks, with some estimating that over 80% of existing cannabis businesses will fail in the next several years.
As of Jan. 2022, 19 states have legalized marijuana recreationally, and an additional 18 states have legalized medical marijuana; covering over 75% of the U.S. population. Momentum for complete acceptance of cannabis continues to build: a recent Pew Research Survey finds that 84% Americans believe cannabis should be legal in all states. At a 22.5% CAGR, the US industry is projected to achieve a total value of
$80.6 Billion by 2027. Some analysts believe that significant growth will come from newly legalized states, including increasing substitution of cannabis for alcohol and prescription medicines, and the continued action to replace the illicit market.
In addition to overall demand growth, the industry landscape is rapidly changing, as state-by-state regulatory structures lead to shifting market opportunities; banking laws and IRS rules present unique challenges; and competition is increasing as new markets and products come online.
THE CANNABIS OPPORTUNITY
To get out front of these challenges, savvy cultivators, manufacturers, software developers, consultants, and dispensaries are calling on strategic and financial help to make the best decisions about where and how to deploy resources, how to sell themselves to customers and investors, when and how to raise capital, and how to create robust marketing, sales and operating strategies to stake their claim and fend off competitors.
Companies that want to win are turning to BGP Advisors. BGP brings decades of best-in-class experience working with some of America’s greatest companies across a variety of high-growth and established sectors to the emerging potential of the cannabis industry. From raising capital for first-movers like Yahoo, Dell Computer and Wired, to creating brand identity and marketing strategies for industry leaders Nike and FAO Schwarz, to developing sales strategies for giants such as Oracle, to working with start-ups in emerging growth sectors, our partners and advisors have the background and experience to ensure your success.
The window of opportunity won’t be open for long. Many large industrial players remain on the sidelines due to legal, regulatory or optic risks, creating a canopy of opportunity for smaller players to establish themselves prior to full national legalization.
Speed to market, getting to critical mass and raising adequate capital in the short to intermediate term are more important than ever.
BGP Advisors. Let our experience work for you.
Ruth Epstein, Partner
Ruth Epstein has over 20 years’ experience providing financial and strategic advisory services to companies across a wide range of mature and emerging growth industries. Ruth spent ten years at Goldman, Sachs & Co. in New York and San Francisco in the Investment Banking Division working on corporate finance and M&A transactions for high tech and general industry clients.
Don Jennings, Partner
Don Jennings has over 20 years in sales management for software giants such as Oracle, SAP and JD Edwards, as well as working with a number of successful start ups such as Adaptive Insights. He is a proven enterprise technology sales leader with over two decades of successful experience building and leading top-performing sales teams, developing creative go-to-market strategies and rapidly growing revenue.
Jeff Garrison, CPA
Christopher Smith, Partner
Christopher Smith has 20 years of marketing and communications experience in disruptive industries from technology to sustainability to renewable energy and water recycling, and now the cannabis industry. He began his career working with the Light and Space artist Eric Orr before joining the advertising industry. He became a national ADDY Award® finalist in 6 months, eventually leading to work with Nike, Microsoft, GE Financial, Hewlett Packard, Birkenstock, Oakley, and FAO Schwarz among dozens of others.
Annie Davis, Strategic Partner
Annie Davis is a business strategist and marketing leader with 20 years of experience building lasting brands spanning CPG (The Clorox Company), clean tech (Amyris), and natural products (World Centric). In 2018, she transitioned into the cannabis industry where she has led marketing functions for several of California’s largest operators. As a consultant and advisor, she has helped numerous cannabis clients including Garden Society, CannaCraft, Project CBD, Humble & Fume, and Loos. She holds a BA in Political Science from Yale University and an MBA from Harvard Business School.
Jeff Garrison joins BGP Advisors with 30 years’ experience in accounting and finance including eight years as President and Managing Partner of Los Angeles-based accounting firm Stonefield Josephson, a 200-person firm with six regional offices in California and Hong Kong (now merged with Marcum LLP), and most recently, as President of SIVA Enterprises, a leading cannabis consulting firm.