Mitchell Kahan
Age: 37
Title: Chief strategic officer
Company: The Artist Tree
Mitchell Kahan joined the cannabis industry in 2006 when he opened The Green Easy in Los Angeles and has steadily grown his retail business, now operating as The Artist Tree, into a chain of six retail locations.
“A crucial lesson I’ve learned in the industry is the importance of a deliberate and cautious approach to all aspects of the business, particularly prioritizing profitability over rapid expansion,” he says, adding that many of his former peers opted for a “grow-fast-at-any-cost strategy” which led them to disastrous results.
“Ultimately, these operators were left with an unwieldy portfolio of unprofitable stores and a colossal debt burden as their finances dried up,” he says.
While Kahan’s methodical approach remains a chief contributor to his longevity in California’s tumultuous industry, it has played an equal part in building trust with consumers.
“As a cannabis entrepreneur, I can confidently say that building a trusted brand in the cannabis industry was one of the most important milestones I have ever hit,” he says. “Establishing a reliable and consistent supply chain, obtaining the necessary licenses and permits and developing a loyal customer base were all critical.”
In addition to the chain of retail stores, Kahan is also the mind behind the company’s newest venture, The Studio Lounge, a consumption lounge now open in West Hollywood with another location planned to open soon in Hawthorne. True to form, Kahan was exceptionally careful in planning the space, which is a spectacular celebration of cannabis culture.
“I aim to provide a unique and memorable experience that celebrates the diverse culture and community of the cannabis industry,” Kahan says. “Ultimately, my goal is to become the premier destination for cannabis enthusiasts, setting a new standard for excellence and innovation in the consumption lounge space.”
Q&A
Why did you to join the industry?
I joined the cannabis industry in 2006, when I opened the Van Nuys Group LLC, DBA The Green Easy. At the time, a slew of unlicensed operators were opening dispensaries in LA, mostly in unsafe neighborhoods with substandard infrastructure and insufficient security measures. My grandmother had just been diagnosed with pancreatic cancer, and I wanted to find a store that she could comfortably frequent. My goal when opening The Green Easy was to create a safe and inviting environment where everyone, particularly people like my grandmother, could legitimately address their medical needs. The final result was a stylish retail shop with a welcoming waiting room and a large, well lit showroom – a unique business model in LA at the time. Patients, particularly women, noticed the difference. The Green Easy’s location in one of LA’s trendiest retail areas, its friendly, well-trained staff, and its comfortable environment led to over 50% of patients being women – an unheard of number in the cannabis market at that time.
What was the biggest lesson you learned about the industry during the past 15 years?
A crucial lesson I’ve learned in the industry is the importance of a deliberate and cautious approach to all aspects of the business, particularly prioritizing profitability over rapid expansion. Many of my competitors pursued a “grow fast at any cost” strategy, neglecting the fundamentals of running a thriving and profitable business. Although this approach yielded short-term benefits, including swift expansion and a surge in stock prices, the consequences were dire. Ultimately, these operators were left with an unwieldy portfolio of unprofitable stores and a colossal debt burden as their finances dried up.
What has been your biggest milestone in the industry?
As a cannabis entrepreneur, I can confidently say that building a trusted brand in the cannabis industry was one of the most important milestones I have ever hit. Establishing a reliable and consistent supply chain, obtaining the necessary licenses and permits, and developing a loyal customer base were all critical steps in achieving this milestone. By delivering high-quality products, providing excellent customer service, and building a strong online presence, I was able to create a brand that customers could trust and rely on. This not only helped me generate revenue but also gave me a sense of pride and satisfaction in knowing that my business was making a positive impact in the industry.
What is your vision for the company’s upcoming consumption lounge?
My vision for the upcoming cannabis consumption lounge is to create a welcoming and inclusive space where cannabis enthusiasts can come together, connect, and enjoy high-quality products in a safe and comfortable environment. I aim to provide a unique and memorable experience that celebrates the diverse culture and community of the cannabis industry. I envision a lounge that offers a range of cannabis products, from edibles to concentrates, and promotes responsible consumption practices. Additionally, I aspire to be a hub for education, innovation, and creativity, hosting events and workshops that showcase the latest trends and developments in the cannabis industry. Ultimately, my goal is to become the premier destination for cannabis enthusiasts, setting a new standard for excellence and innovation in the consumption lounge space.