San Diego Small Business Growing from Good Soil
How this cannabis retailer built a strong foundation for her budding brand
Danicka Brown-Frazier, Co-Founder of San Diego-based cannabis accessories and lifestyle brand Greenish Brands, has ambitious goals for her business – like doubling her revenue every year through 2027.
However, before focusing on significant growth, she knew she had to address foundational issues with her finances.
Rather than being viewed as “just another” smoke shop, Danicka wanted to create a brand that focused on the medicinal properties of cannabis, CBD, and other herbal remedies. As a Luxury Apothecary, Greenish Brands helps consumers prioritize their self-care and partners with BIPOC and women-owned brands to promote equity in cannabis.
The Problem
When Danicka first started working with us, she brought a few challenges to the table.
She needed a better system for monthly reporting. Even though she was already using software to manage her money, she knew she wasn’t maximizing its potential to help her business.
Overall, she needed a better system for monthly financial reporting and a roadmap to define her priorities while meeting revenue goals.
Where mission edge came in
The Mission Edge team paired Danicka with Patrick, a finance expert who helped Danicka look at Greenish Brands holistically to find tweaks that could help her reach her goals.
Patrick’s ideas were optimizing her website, paying for ads, and developing wholesale orders.
Danicka is passionate about educating consumers and breaking stigmas of cannabis and CBD products. Because of her passion and experience, we saw an opportunity for educational events that could also help her build a retail presence in areas outside of San Diego.
Finally, we helped Danicka identify areas for improvement — namely, financial forecasting. We wanted her to feel confident in her future financial projections and growth plans so she could more easily reach her goals.
The solution
With the help of our financial experts, Danicka put together a three-year financial model. This model summarized her objectives for the next few years (including increased revenue) and detailed how she’d achieve those objectives.
With a plan in place and her priorities in line, Danicka was better equipped to step into action.
After leaving the Impact Lab, Danicka received a grant from the SD Black Chamber of Commerce, a grant from the SDSU Center for Entrepreneurial Studies, acquired new corporate clients, and completed a crowdfunding initiative.
After seeing evidence that she could fundraise successfully, Danicka plans to use partnerships to grow her business by building her online and brick-and-mortar retail presence, and expanding wholesale orders and corporate clients.
Most of all, Danicka came out of the Impact Lab with stronger processes that will help her make intentional, execution-oriented business decisions moving forward.
You can see results, too
Danicka's success highlights the importance of having a robust financial plan and roadmap for business growth.
By working with Mission Edge, Danicka was able to develop a detailed plan for achieving her revenue goals and secure significant funding for her business along the way.
Could you also benefit from a second pair of eyes on your business’ finances?
Check out Impact Lab to find out more about how our program could help you grow your business!
Want to keep the inspiration going? Read more success stories.
See how Impact Lab could help you gain financial clarity for your business in 2024
Join the waitlist to apply for the next cohort!
