Thu, 6 August 2020
In this episode, Hall welcomes Spencer Graff, Co-founder and CEO of NFuzed.
With its headquarters in Boulder, Colorado, NFuzed is a cannabis manufacturer with licenses in Colorado and California specializing in value and innovative products. In the first ten months of production, NFuzed has grown to over $1.7M in total revenue, $300K in March 2020 alone, with products available in over 260 dispensaries in two states while achieving EBITDA breakeven.
NFuzed has shifted their focus from water-soluble powder to a tincture. By changing the platform from powder to a small amount of liquid, they are able to bring the same technology to market with significantly less capital.
With NFuzed’s advanced operations producing high-quality, consistent products while minimizing inefficiencies, NFuzed will continue to lead the pack as an innovator and dependable company.
The low-cost, value structure is re-establishing the edible retail price floor for the end-consumer, providing products at 40-50% less than current market rates.
NFuzed is the first company to offer a cannabis inhaler along with gummies and soluble powder, whereas others only offer one type of product.
Spencer is a finance executive with over 20 years of financial and operational management experience in public mid-cap companies. Spencer streamlined processes that reduced COGS by 20% in a 12-month period and developed and oversaw multi-million dollar M&A deals. He also managed a full-scale accounting department as well as their regulatory and internal audits. Spencer holds an MBA from the University of Colorado.
Spencer shares his thoughts with Hall on the sector's growth rate and how COVID-19 affected it, the challenges the cannabis industry faces, what is 280E, how a company can COVID-19-proof their business and shares some of the new applications for cannabis that he sees coming up in the next 6-12 months.
You can visit NFuzed at www.nfuzed.com.
Direct download: Spencer_Graff_of_NFuzed.mp3
Category: -- posted at: 10:28am CDT