At the time of this original Respect My Region interview Presidential Rx was the #1 selling cannabis blunt brand in America. Today, the California-based brand still maintains that number 1 spot. Everett Smith, CEO and Co-Founder of Presidential Rx, has worked relentlessly alongside his team to build the brand into the award-winning beast that it is today. We caught up with Everett at this past Hall of Flowers tradeshow to talk about building the company and scaling it into a successful cannabis brand that operates in numerous states.
My favorite part of the interview is when he says you have to stand “ten toes down” when it comes payment terms and COD, and also pertaining to who you work with.
Due to the way California’s recreational cannabis laws are set up, retailers are not required to pay cash on delivery when it comes to their vendors and the products they sell. Many retailers are taking consignment orders from companies on net terms and using products and the cash they make as a way to generate revenue to build and scale their businesses. Think of it as an interest free loan.
Another interesting part of the conversation was about how Presidential makes their moon rocks. Most people think that moon rocks use low quality flower, kief, and distillate, but with Presidential they source really high quality flower from craft growers and pair that with custom formulations that uses kief, distillate, and sometimes live resin from this same great flower.
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