MJ Freeway – If you have outdoor plants, you know the importance of the fall harvest, Croptober. As a cannabis business operator, performing well can make or break your year. Since you’re done harvesting, read this short blog on what to pay attention to when evaluating your Croptober. Then, take the quiz to see how your Croptober scored to get ready for next year!
1. What was your overall cost per gram for flower?
This question is the most important question to answer for a cannabis cultivation. This cost dictates all other prices and margins and can be a crippling problem when it is not tracked accurately.
2. What price did you get for your Cannabis?
This figure is largely driven by supply and demand within your regulation boundaries. Despite that, even a few cents per gram can make a significant difference in your overall margin, so it’s important for you to do take the proper steps to ensure you are receiving the right prices. Tracking cultivation practices from seed-to-sale, including pesticides used, nutrients used and batch lab results can give you and your product more credibility in the eyes of the consumer.
3. What percent of your waste product were you able to sell to processors or turn into processed material yourself?
Many new cultivations have trouble finding outlets for non-flower or trim product. Sometimes regulations require cultivators to destroy waste product, but in other scenarios, waste can be sold to processors at volume to make up margin. If you haven’t discovered a way to make use for your waste product, consider joining an industry trade association to discover new contract opportunities. Waste can also occur from inefficient harvesting tactics, so consider how much was lost during that phase specifically.
Follow the link to take the full quiz: