Last week, people from every corner of the U.S. cannabis industry converged in Las Vegas to network, build their brands, and attend MJBizCon – the largest event in the industry. After a year of hiatus prompted by the Covid-19 pandemic, MJBizCon was back celebrating its 10th anniversary with over 1,300 exhibitors and 250,000 square feet of expo halls. This year’s show was bigger than ever and attracted about 35,000 attendees compared to 33,000 attendees at their last in-person conference in 2019. MJBizCon took place from October 19-22 at the Las Vegas Convention Center and hosted over 130 speakers and multiple networking events with something for about everyone in the industry.
Although smaller cannabis events have always tagged along with MJBizCon’s publicity and occur throughout the week, this year’s MJ Unpacked was no small show and gathered many high-profile connections in the cannabis industry. Geared directly toward retailers, brands, and investors, this exclusive event quickly became a go-to conference for cannabis industry veterans. MJ Unpacked took place from October 21-22 at the Mandalay Bay Resort and Casino and was designed to be a much smaller, more curated show than MJBizCon. Founded in early 2020, MJ Unpacked in Las Vegas was the first of many planned in-person events hosted by Jage Media.
Physical Security
For those looking for physical security experts, MJBizCon was the conference to attend. With a variety of physical security exhibitors, including security devices, guards, and architects, attendees were able to see the latest in security technology and connect with experienced professionals specializing in cannabis facilities.
Companies like Hanwha Techwin America showed off their state-of-the-art video surveillance systems, while companies like Securitech featured high-security door hardware. Secure storage for cannabis and cash was a common theme at MJBizCon and there were no shortages of safe and vault exhibitors, like Smart Safe USA and Tidel.
“I was at a dispensary where they had a million in cash on the table and they said it took them 6 hours to hand-count everything,” said Tiffany Havens of SoCal Safe. Tiffany, or the “Cannabis Safe and Vault Queen” as she is affectionately known in the industry, used SoCal Safe’s booth to exhibit their high-security safes, smart safes, cash recyclers, currency counters, sorters, and strappers in an effort to reduce the amount of cash handling and cash on-site for cannabis businesses.
Although there was a multitude of exhibitors featuring security solutions centered around intellectual property, MJ Unpacked lacked exhibitors focused on physical security.
Business Solutions Including Security
Both conferences featured exhibitors touting their security solutions for cannabis business operations, including compliance, training, and IT security. Unlike MJBizCon which is geared more toward cultivators and processors, MJ Unpacked fostered an environment where cannabis dispensary owners could piece together security solutions that fit their business.
“Security is so important, but it’s something that often isn’t thought about until the end,” said Sumer Thomas, the Director of Regulatory Operations. For those cannabis business owners who were looking for guidance on security and operations at MJ Unpacked, cannabis business consultancy Canna Advisors hosted a suite and took meetings throughout the event.
Since both conferences had such high attendance this year, some companies like Cultiva Law and Leaflink chose to exhibit at both events. Other companies had to decide which conference to attend and invest in, with several companies opting for MJ Unpacked over the annual MJBizCon because of its focus on risk issues.
“We chose to exhibit at MJ Unpacked because it is a smaller show [than MJBizCon] and we are less likely to get lost in the blur,” said Pearl Coker of iComply, a company that specializes in ensuring cannabis business operations remain compliant.
“MJBizCon is a lot of ancillary services, but MJ Unpacked is more direct. We can have more intimate, genuine conversations with the people who count,” said Timmy Bridges, a Sales Executive for PayQwick. PayQuick offers compliant banking solutions for cannabis businesses and multi-state operators.
Training and the need for standard operating procedures were a reoccurring theme for both conferences. At MJ Unpacked, Learn Brands hosted a booth where they displayed their easy-to-use general cannabis education platform. At MJBizCon, cannabis business owners could meet with WēEd by Learning Rebels, a mobile cannabis education platform designed to help business owners, their team, and their business be successful through dedicated security training to protect the business's greatest assets.
“You can have security equipment and do your due diligence with insurance, but the human element, if not nurtured, will fail,” said Shannon Tipton, the owner and founder of WēEd. “As much as there is innovation in the industry, some things remain the same…people. We will always need to nurture the bond between people and business as it is a symbiotic relationship. Without nurturing a culture of honesty, your security and the protection of your most valuable assets will always be at risk.”
Wrapping Things Up
Despite certain major differences, such as size and target audience, both conferences were successful at cultivating connections in the cannabis industry. While some originally speculated that the presence of MJ Unpacked could draw attendees away from MJBizCon, it seems these shows were able to coexist and may have even helped draw crowds at the opposing event.
“I was a speaker at the first MJBizCon, and this year was the best one yet. I got to interact with a lot of people in the industry and people looking to get involved,” said Tony Gallo, Managing Partner of Sapphire Risk Advisory Group, the only licensed national cannabis security consultancy. “MJ Unpacked was also a particularly good event because all the current movers and shakers in the industry were there. It was a totally different show [than MJBizCon], but the shows complimented each other well.”
The next MJBizCon is scheduled for November 14-16, 2022, in Las Vegas while MJ Unpacked will be hosting its next event from May 4-5 in New York City.
