Empowering Entrepreneurs: Sabrina Wheeler, COO of Stone Road, Shares Secrets to Cannabis Industry Success
At High Herstory we love to spark joints and conversations with the leading women in the cannabis industry. Today, we're delving into the dynamic world of cannabis entrepreneurship with none other than Sabrina Wheeler, the Chief Operating Officer of Stone Road, a cannabis flower brand that believes “…cannabis is one of the planet’s great natural gifts to humans, and that all people should have access to the best of it.” With her visionary leadership and relentless drive, Sabrina has been instrumental in shaping Stone Road's journey towards excellence. Join us as we uncover her insights, experiences, and the highs and lows of navigating the cannabis landscape.
High Herstory: As Chief Operations Officer at Stone Road, you've played a pivotal role in the brand's expansion across multiple states. Can you share some insights into the challenges and successes you've encountered during this journey, particularly with the recent deals in Michigan and New Mexico?
Sabrina Wheeler: Expanding nationally in the cannabis industry requires finesse, given the ever-changing regulations and unique market conditions in each state. Our success in Michigan is largely due to partnering with small, family-owned operators who genuinely care about their brands' success. Similarly, our move into the New Mexico market has been successful, thanks to our existing partnership with a reputable operator in Oklahoma. Our collaboration with StashHouse in particular has been exceptional. Their expertise and professionalism are commendable, and working with their team has been a pleasure. I can't speak highly enough of them!
HH: How has your hands-on experience influenced your approach to overseeing national brand expansion and operations for a cannabis brand?
SW: Entering the industry as a budtender proved to be a pivotal move, despite feeling like a step back from my previous positions in the health and wellness sector, particularly with startup companies. This role provided invaluable insights into the intricacies of cannabis, as the dispensary prioritized comprehensive training and team education to cater to both medical and recreational clientele. Reflecting on this journey, I recognize its significance in contributing to national brand expansion and operational strategies. By engaging with newcomers to cannabis during its early stages of recreational legalization, I gained profound insights that are now applicable in emerging markets.
HH: Stone Road has achieved impressive retail presence, with over 350 outlets in California, 55 in Oklahoma, and 25 in Massachusetts. What strategies have you employed to navigate the unique regulatory landscapes in each state and establish a strong market presence?
SW: Thank you! Our growth can be attributed to several factors, notably our commitment to offering a diverse range of products that cater to every consumer's preferences and needs. Whether it's budget, consumption method, flavor, or THC potency, we strive to ensure our offerings resonate with a wide audience.
While our focus remains on creating products tailored to women and the LGBTQ+ community, our overarching goal is inclusivity, ensuring that everyone can find enjoyment in our offerings.
Entering new markets involves a strategic approach, where we meticulously analyze local demand and tailor our product lineup accordingly. For instance, upon launching in New Mexico, we identified a significant opportunity in the lack of 1g concentrates and high-end preground options. By introducing those 2 products, we've received overwhelmingly positive feedback from consumers, underscoring our ability to adapt and meet market demands.
Ultimately, our success lies in our dedication to giving consumers what they want while maintaining consistency and quality across all states. It's this unwavering commitment that drives our continued growth and solidifies our position in the industry.
HH: Launching in a new state, such as New Mexico in October '23, is a significant milestone. Can you walk us through the preparations and strategies you've implemented to ensure a successful introduction of Stone Road into a new market?
SW: First and foremost, we thoroughly vet our partners, including leveraging our common networks to gather insights on each individual team member, we visit their facilities, inspect their biomass, and ensure they align with our ethos. This process was somewhat streamlined for New Mexico, as we had already worked with our partner in Oklahoma, allowing us to enter the partnership with confidence in their team, operations, and product quality standards.
Once we've established a mutually beneficial contract, we begin the process of designing compliant packaging tailored to the specific market we're entering. This step often takes the longest, as we ensure all stakeholders sign off on the design to avoid any compliance issues. Packaging compliance varies significantly from state to state.
Next, we customize our Standard Operating Procedures (SOPs) to align with the SKUs we're launching and conduct thorough training sessions with our partner's production team. Ahead of the launch, we engage in community seeding efforts, reaching out to local influencers, buyers, and other key cannabis community members to generate excitement and build brand presence.
Upon launch, we issue a national press release to announce our entry into the new state, aiming to reach a broad audience and inform them about Stone Road's expansion. We've found that many of our loyal customers have connections in other states and help spread the word about our brand to their friends + families. Following the launch, Lex and I personally assist with sales, focusing on fostering relationships with retailers and providing support to our partners. We maintain bi-weekly calls with their production, sales and marketing teams to ensure alignment, address any issues, exchange feedback, and strategize on how we can continue to grow together.
HH: With the cannabis industry evolving rapidly, what trends or developments do you foresee shaping the future of the market, and how is Stone Road positioned to adapt and thrive in this dynamic environment?
SW: I believe that if regulations change, or better yet, if federal legalization emerges, we will witness an influx of investor capital into the market, enabling brands to expand rapidly both nationally and internationally. If this occurs, or if the US aligns with international markets, we may see interstate commerce becoming permissible, which would greatly benefit markets that lack the climate for greenhouse or outdoor flower cultivation, such as California.
At Stone Road, we've positioned ourselves to move swiftly, expand into new markets, and ultimately become an attractive acquisition target. Despite being a lean team of just two individuals (Lex + myself), we've managed to expand our market footprint rapidly. We've not only increased our sales in each state but also expanded our product offerings in each market.
If we've achieved this level of growth as a two-person company with minimal investment, imagine the possibilities with more capital and a larger team!
HH: As someone who started as a budtender and worked their way up, your journey is inspiring. What advice do you have for individuals aspiring to build a successful career in the cannabis industry, especially considering the changing legal landscape and increasing competition?
SW: There are numerous factors, but some include: finding a mentor who is in the role you want to be in and learning exactly what they had to do to get there. Secondly, don’t get complacent - that’s easier said than done, especially when most people develop strong friendships in their working environment. You have to choose your priorities: work with people you like and are familiar with, or venture into the unknown and take the risk of potentially not liking the team, company, or job. I have worked with many companies, some as short as 7 weeks, before I decided that I didn’t see the future I wanted with the team. You have to be able to be real with yourself, your desires, and the reality of the situation. Lastly, network! Say yes to as many events that put you in places with companies or people you admire. I’ve never gotten a job from applying online - I've always been approached by people I knew or their network because I had spent countless hours building relationships with like-minded people and brands. Build a reputation that speaks for itself and you will have endless options of companies wanting to add your talent to the team. It may not be your ideal role, but I strongly encourage everyone to make it explicitly clear before you are even hired on the role that you want to grow into. That way, if that role doesn’t become available to you, there will be no surprises if you decide to leave and go to a company that can offer you your ideal position.
Thank you for chatting with me! I'm hopeful that my experiences and cannabis journey can serve as inspiration to others, particularly during these challenging times in the cannabis industry. Remain optimistic + open - there are always brighter opportunities waiting for you to connect with them.
From overcoming challenges to seizing opportunities, Sabrina Wheeler’s journey in the cannabis industry serves as an inspiration to all aspiring entrepreneurs. Sabrina's passion for spreading the healing powers of plant medicine has driven her success in the cannabis industry. We extend our heartfelt thanks to her for sharing her wisdom and insights with us. Be sure to follow @stoneroadfarms on Instagram to keep updated on what they have going on.