Over the past decade since Colorado first legalized recreational Cannabis in 2012, the Cannabis industry has grown massively despite conflicting state and federal laws. The legal market hit $33 billion in 2023, while polls show 70% of Americans now support full federal legalization. While various sectors of the US economy have been turbulent over the last couple of years, the industry still experienced some growth in 2022-2023. Industry analysts and advocates remain optimistic about the potential for significant growth in the coming years, particularly if the long-awaited federal regulatory ch ..read more

This is a copy of the original letter of recommendation written by the AICPA & CIMA Cannabis Industry Conference Producer. DOPE CFO has been a proud contributor to the annual conference since the very first one, and hopes to continue into the future. Her contact information and name have been removed as a privacy measure.   To Whom It May Concern, I am writing to enthusiastically recommend Andrew Hunzicker based on his outstanding contributions to the AICPA & CIMA Cannabis Industry Conference over the past five years. Andrew has consistently proven himself to be a remarkable asset ..read more

Becoming a Successful Cannabis CFO in Just 6 Months You’re dreading the start of the week: the soul-crushing commute to the office, the long working hours that resemble more like a 5-9 than a 9-5, and the monotonous day to day grinding, crunching numbers for the same thankless clients — does this daily routine resonate a little too much with you? Have you ever envisioned breaking free from the rigid corporate cycle and embarking on a more prosperous, fulfilling path but aren’t sure where to turn? If so, then it’s time to take a closer look at the Cannabis industry for a career change. The Cann ..read more

The key to success at dealing with common software issues that occur in Cannabis accounting is keeping a cool head and positive attitude. It’s easy to get overwhelmed tackling the many challenges that pop up. Furthermore, the CEOs and managers of the businesses you support can (and will) call or email you while they’re upset about the latest hurdle they need to scale. They’ll expect you to have the magic formula that gets all of their systems working. The best thing you can do in those situations is to listen and let them vent to their heart’s content. Afterall, you are probably one of the few ..read more

Valuations play a key role in an array of Cannabis industry business concerns. Nevertheless, there’s a lack of good information for accounting professionals supporting the licensed Cannabis space. When you understand what valuation is—and the different kinds of valuation—you can help clients make choices that align with their needs.  What is Business Valuation? In a nutshell, business valuation is the process and procedures of determining the value of an owner’s interest in a business. The three most commonly used valuation approaches are the asset approach, the income approach, and the m ..read more

Don’t know how much you should charge for providing Cannabis accounting services to pre-revenue businesses? You’re not alone! In this blog post, we uncover two main ways to consider setting your price. The first is by accurately framing the value you provide and asking a number of smart questions. The second is by reviewing a number of areas within the company’s pitch deck. Investing some time and energy into this process in the ways we suggest below will enable you to price your accounting services at a rate that supports your ability to offer maximum value to your clients and get paid what y ..read more

Building a successful Cannabis/CBD Hemp accounting, tax, and Chief Financial Officer firm within six months is highly possible. Many DOPE CFO members have done it themselves, some in just a matter of weeks or months. It will however require work, commitment, putting in the time, and going through all of the necessary steps we will talk about in this blog post. If you’re wondering whether you can build your own firm while you keep your day job, the answer is yes.  One major thing to know about providing accounting and CFO services for this industry is that it is NOT easy. Complexity is the ..read more

Knowing what others want is a key ingredient when it comes to achieving what you want in life. Whether your “want” is launching a startup operation, working with businesses in the industry, or becoming an investor yourself, understanding the most common investor concerns empowers you to make informed choices on the journey ahead, so read on! Cannabis Industry Investors Learned the Hard Way Early investors in the industry were less focused on accounting and transparency when it came to choosing where they wanted to invest their money. Seemingly good ideas, like MedMen, had trendy appeal. Invest ..read more

Whether you’re looking to serve Cannabis startups as a world class CFO or are a Cannabis CEO in the making, knowing what it takes to properly position the company for success is imperative.  Now, we don’t say all of this to scare anyone away or to be gatekeepers in any form or fashion. We say this so that all parties can know what is needed in order to do well in this niche. We want this niche to thrive, and not die on the vine because the blind are leading the blind into dangerous territory.  There are a lot of opportunities in this industry. More than enough for everyone, as long a ..read more

Expert Advice: Cannabis Licensing in Various States, Being a Changemaker & What’s Next in the Industry David Alport, co-founder of Bridge City Collective, started his Cannabis career in 2009 as a medical Cannabis cultivator in Oregon, after receiving his BA in Business with a focus in Finance from the University of Puget Sound, a career at Nike, and stint as a trader at the Mercantile Exchange in New York. Today, David is the co-founder of two cultivation sites and two of Portland, Oregon’s first licensed dispensaries. Now, more than a decade since he joined the industry, he and business ..read more