Brian Weber welcomes Tracy LeMarie, Co-Founder & Consultant at TAC CPAs LLC. She shares essential steps for achieving operational profitability in the cannabis industry, providing valuable insights into understanding market trends and pricing strategies, mastering the nuances of direct and indirect costs, and implementing advanced costing techniques. Tracy also discusses the implications of Schedule 3 on cannabis profitability and the importance of making informed decisions about product lines. With her extensive experience and practical advice, this episode offers you the knowledge needed to optimize your cannabis business operations.

Chapters:

• 00:00:00 - Kicking Off: Operational Profitability in the Cannabis Industry
• 00:01:17 - Meet Tracy LeMarie: From Traditional CPA to Cannabis Accounting Expert
• 00:03:43 - Demystifying the Cannabis Market: Pricing Dynamics Explained
• 00:07:45 - Cost Control 101: Direct vs. Indirect Costs in Cannabis Operations
• 00:12:01 - Advanced Strategies: Implementing Effective Costing Methodologies
• 00:17:30 - Advanced Costing: Individual Product Analysis
• 00:23:14 - The Impact of Schedule 3: Navigating Cannabis Costing and Profitability
• 00:27:07 - Skew Rationalization: Making Smart Product Line Decisions
• 00:30:45 - Final Thoughts: Key Takeaways and How to Reach Out to Tracy

Links and Resources:

• Tracy LeMarie on LinkedIn
• Evolve/TAC CPAs LLC
• Flourish Software
• Brian Weber on LinkedIn

Thanks so much for joining us this week. Want to subscribe to How to Flourish in Cannabis? Have some feedback you’d like to share? Connect with us on Spotify, Apple Podcasts, and YouTube to leave us a review!