Robert Celt
New Member
Mobi PCS President and CEO Bill Jarvis, who plans to apply for one of Hawaii's eight medical marijuana dispensary licenses in January, says the medical marijuana industry is a lot like the telecommunications industry.
"It's ironically similar to the wireless communications industry," Jarvis told PBN. "It's highly regulated and rapidly changing – you never know what'll change, whether it's the market, regulatory climate, or the economy – all those factors can heavily influence your business."
Jarvis likened the build-out of the Mobi PCS mobile network in Hawaii in the early 2000s to what will could become his responsibilities if he is awarded one of the state's first eight dispensary licenses in the spring.
"I started Mobi PCS in Hawaii to bring cost-effective communication to people because I felt like a large section of the population was ruled out," he said. "I feel like much of the same thing is happening here. It's a needed medicine."
When Mobi began in Hawaii, mobile data plans and manufacturing had to be tailored to meet customer demand. The medical cannabis market will be similar, he said, with intricate planning for management, inventory, security, manufacturing, and distribution.
Each of his team members have "personally materially invested" thousands of dollars in the proposal, with no guarantee, Jarvis said. His team has put in five letters of intent and offers on various properties for growing facilities.
The group has spent hours developing its business model and financial plan, which accounts for everything from the "ground up," he said, including the manufacturing process, quantity, expected demand, and product pricing. Jarvis estimates it will take $5 million to get the two dispensaries allotted per license up and running.
"We are taking an approach where we will know our minimum cash on hand at all times, as well as the cost structure and financial model in a deep way," he said. "I've navigated my way through a lot of ups and downs in the [telecommunications] industry over the last 30 years and feel comfortable working through that process and understanding where we are at a given time so we don't embarrass the state or leave patients out in the cold.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: Mobi PCS Exec On Why He's Pursuing A Hawaii MMJ Dispensary License
Author: Lorin Eleni Gill
Contact: Pacific Business News
Photo Credit: Business Journals
Website: Pacific Business News
"It's ironically similar to the wireless communications industry," Jarvis told PBN. "It's highly regulated and rapidly changing – you never know what'll change, whether it's the market, regulatory climate, or the economy – all those factors can heavily influence your business."
Jarvis likened the build-out of the Mobi PCS mobile network in Hawaii in the early 2000s to what will could become his responsibilities if he is awarded one of the state's first eight dispensary licenses in the spring.
"I started Mobi PCS in Hawaii to bring cost-effective communication to people because I felt like a large section of the population was ruled out," he said. "I feel like much of the same thing is happening here. It's a needed medicine."
When Mobi began in Hawaii, mobile data plans and manufacturing had to be tailored to meet customer demand. The medical cannabis market will be similar, he said, with intricate planning for management, inventory, security, manufacturing, and distribution.
Each of his team members have "personally materially invested" thousands of dollars in the proposal, with no guarantee, Jarvis said. His team has put in five letters of intent and offers on various properties for growing facilities.
The group has spent hours developing its business model and financial plan, which accounts for everything from the "ground up," he said, including the manufacturing process, quantity, expected demand, and product pricing. Jarvis estimates it will take $5 million to get the two dispensaries allotted per license up and running.
"We are taking an approach where we will know our minimum cash on hand at all times, as well as the cost structure and financial model in a deep way," he said. "I've navigated my way through a lot of ups and downs in the [telecommunications] industry over the last 30 years and feel comfortable working through that process and understanding where we are at a given time so we don't embarrass the state or leave patients out in the cold.
News Moderator: Robert Celt 420 MAGAZINE ®
Full Article: Mobi PCS Exec On Why He's Pursuing A Hawaii MMJ Dispensary License
Author: Lorin Eleni Gill
Contact: Pacific Business News
Photo Credit: Business Journals
Website: Pacific Business News