What CPAs Need to Know About Minnesota’s Cannabis Market
Presented by Bridge West Consulting
Tuesday, September 19, 2023, at 12:00 pm – 1:15 pm CT
With the legalization of adult use cannabis in Minnesota comes new business opportunities — as well as new ways to provide trusted guidance to clients.
Get updated on what’s happening in the industry and gain crucial insights to guide your clients toward success in the Minnesota cannabis market. Look at the history of Minnesota’s cannabis laws and the market’s outlook for the next year. Walk through strategies for the licensing application process and what clients should do after securing a license. Learn how to build a team to navigate the cannabis industry and how you can best support clients in this evolving sector.
- History and current state of the Minnesota cannabis marketplace
- Expected developments in the cannabis / marijuana industry within the next 12 months
- What your clients should do before the license application release
- Steps clients should take once they’ve been granted a license
- How to assemble an effective and compliant cannabis business team
- How to best advise and support clients interested in the cannabis industry
- Understand Minnesota’s cannabis market
- Discuss ways to provide general guidance to clients as they navigate the cannabis landscape
Who should take this program?
CPAs who have (or may have) clients interested in entering the Minnesota cannabis industry.
Peter Prevot, CPA, CIA
Peter dedicated his career to the cannabis industry in 2014. Peter helps cannabis clients increase profitability, retain more of the bottom line for business growth, and comply with laws and regulations as operations expand. His core professional competencies include regulatory analysis, license procurement, management consulting, corporate governance, strategy, accounting information systems, banking regulations, governmental relations, and internal controls. Peter previously held board positions with the Louisiana Cannabis Association and the Pointe Coupee Enrichment Fund. He currently serves on the Board of Directors for the Upbeat Academy Foundation and the Veterans Alliance for Holistic Alternatives. Peter is also the Founder and Executive Director of the Louisiana Association for Therapeutic Alternatives.
Ari Hoffnung serves as Chief Executive Officer (CEO) of Bridge West Consulting and has been a cannabis industry leader since 2014. Ari served as Chief Operating Officer & Director of Vireo Health where he helped transform the organization from a private cannabis company operating in a single state into a publicly listed multi-state operator. While at Vireo, he helped generate more than $30 million in annual revenues, raise $100 million through equity offerings, debt and sale-leaseback transactions and manage a team of 400 employees throughout the cannabis supply chain. Ari was also the Founder & CEO of Fiorello Pharmaceuticals which sold for $59.6 million to Green Thumb Industries.
Before entering the cannabis industry, Ari oversaw New York City’s $70 billion budget as NYC Deputy Comptroller. He led a research team composed of economists and policy experts who published two-dozen white papers, including two ground-breaking and widely cited reports on the public health and economic impacts of reforming cannabis policies: 100,000 Reasons: Medical Marijuana In The Big Apple and Regulating and Taxing Marijuana: The Fiscal Impact on NYC. Prior to that, Ari served as a Managing Director at Bear Stearns.
Bridge West CPAs & Advisors serves more than 600 cannabis operators nationwide and has specialized in the cannabis industry since 2009.
Bridge West’s Cannabis Accounting Services Group provides cannabis businesses with customized services, whether you’re a startup with limited resources and no accounting and bookkeeping staff, or an established cannabis business with an internal accounting team. For more than a decade, we’ve worked with cannabis cultivators, processors, transporters, dispensaries, management, and intellectual companies.
If you’ve reached the point where it would be beneficial to have an in-house accounting staff, we can seamlessly transfer the day-to-day responsibilities to your team and provide more advanced Controller or CFO consulting services. Based on our in-depth knowledge of the cannabis industry, our Cannabis Accounting Services Group guides cannabis organizations through accounting issues and industry challenges. We have developed standard chart of accounts, methods to minimize 280E, properly account for inventory, and develop Key Performance Indicators. Our experienced team of professionals has the expertise and resources to meet your specific needs.