MJ Freeway

MJ Freeway Integration Webinars and List and Promising Women

MJ FREEWAY
Denver, Colorado, United States: Software & Services Provider

 

URL: http://www.mjfreeway.com/
Founded: 2010
Telephone: (888) 932-6537
Twitter: mjfreeway
Facebook: MJ Freeway

 

MANAGEMENT TEAM
Amy Poinsett, co-founder and Chief Executive Officer
Jessica Billingsley, co-founder and Chief Operating Officer

 

COMPANY OVERVIEW
MJ Freeway is a business software platform for the cannabis industry. Our business solutions provide seed-to-sale tracking modules for cultivators, manufacturers and retailers. We also offer cultivation management for plants, yield tracking and processing management for infused-product manufacturers, as well as inventory control and point-of-sale at the retail side.

 

COMPANY PROFILE

Revenue Driver:
Software sales, lead generating at events, free bi-monthly webinar series and a suite of products for professional services (software training, operational consulting, application support materials, inventory control and business plans).

Competitive Advantage:
Compliance

“We guarantee to meet or exceed any state or federal requirements for tracking cannabis so we provide our clients with the tools to be sure that they are going to be able to comply with all regulations imposed upon them.” –Amy Poinsett

Track Every Gram

“With our exceptional inventory control, we track every gram of marijuana at every point from the inception of the plant all of the way through to the distribution to the patient or the customer; we track it one-hundredth of a gram the entire way through the process so we capture any kind of waste, evaporation, loss due to any number of reasons. We particularly specialize in trying to give our clients tools to prevent any kind of diversion or theft, which would put their licenses in jeopardy and damage their businesses.” –Amy Poinsett

Business Model:
To offer an exceptional business software platform specifically built for the complicated marijuana industry, including online tools for point-of-sale (POS), inventory, sales, grow management, patient validation and more.

Funding:

“We were a true bootstrap company. We funded ourselves and didn’t take salaries for the first year and a half. We did at one point obtain bridge loan funding so we did not at that point in time in 2011 obtain any equity investment in the company, but we did secure some loans, some high-interest loans, that we have since paid off and we turned profitable in late 2012. We have more than doubled our top-line revenue growth year-over-year and year-to-date.” –Jessica Billingsley

Sales/Marketing Strategy:

“We get much better lead generation through events … that specifically cater to cannabis business owners and then our own outbound email marketing.” –Amy Poinsett

“As an ancillary company, we work across every legal jurisdiction that there is–both nationally and internationally–so we put out [educational materials] as a marketing tool, but also as a way to give back, sharing information and sharing education and continuing to share awareness, and also share stories that we find interesting.” –Jessica Billingsley

Customers:
Producers, cultivators, processors, infused product manufacturers, collectives, clubs, dispensaries and retailers.

Target Market:
Everyone from start-up dispensaries or delivery services to multi-location dispensaries and grow facilities.

Products:
GrowTracker® – for producers and cultivators – offers intuitive tools for plant management and cloning, nutrient mixing and testing, cultivation costs, and scheduling tasks to effortlessly handle harvest, packaging and distribution.

MixTracker™ – for processors and infused product manufacturers – manages the entire manufacturing process for marijuana products such as edibles, concentrates and extracts.

GramTracker® – for collectives, clubs, dispensaries and retailers – Track every gram and every dollar with GramTracker’s patent-pending, customized inventory tracking tools.

Customer Problem:
Customer Acquisition

“We have to balance how much we are there in the state early on; we try to have a really strong presence once the regulatory model is complete, people are starting to consider their applications…making sure that we’re timing our presence correctly so that we’re hitting the applicants as they’re just putting their applications together and not too early when perhaps they haven’t decided whether or not to get into the market or too late when they’ve already decided to get in, have done their applications and have made some of the decisions about their business platform.” –Amy Poinsett

Customer Retention

“One of the biggest challenges for us as a company is keeping up to date on what’s happening in every state, making sure that we’re up to speed on an regulatory changes, that we’ve got any adjustments needed in our software in the pipeline so that they come into play at the right time and we’re ready to go in new states.” –Amy Poinsett

“We’re a software and services company so we really view the services as the most important part of that and we have outstanding technical support as well as our professional services…and that has enabled us to really deal extremely well with the typical challenge that software & services have, which is customers dropping the service after a period of time. We have an extremely low disconnect rate; I credit that to our support team working with our clients, keeping them active, liking the software and using it.” –Amy Poinsett

Corporate Culture & Values:

“One of the most important things we have as a company is our corporate culture, and specifically our corporate values and how important we think those are and how much we stress those within our company and also with every interaction that we have with a customer.” –Jessica Billingsley

“We have three corporate values that we manage the company by and really use to be our guiding philosophy.

 

1. Do the right thing – not only for our customers, but also for each other, for our team and for our vendors.

 

2. Be part of the solution – we want improve the system and solve the problems that our customers have. We want to be the solution for them and provide them with everything they need, and within our company as well, within our team, we’re still a small group of people and we work hard to develop a culture that is encouraging people to jump in and help solve problems wherever they see them.

 

3. Show people that you care – our clients wake up every day and break federal law and knowing that their business software platform is 100 percent behind them and supportive of them and fully understands all of the challenges that they face and that we are here to support them.” –Amy Poinsett

 

ADDITIONAL POINTS OF INTEREST

MJ Freeway’s unique inventory tracking algorithms are patent pending. The software integrates with external hardware, which has been coded by the company; they have scales that connect to computers and are accurate to the one-hundredth of a gram.

Specific stores have built in integration for online ordering so patients or customers can place orders online, whether for delivery or pre-orders for in-store pick up.

MJ Freeway publishes the Daily Dose, which provides readers with information regarding any upcoming feature releases as well as news updates from around the world.

Caroline Cahill was the Managing Editor of MJINews from June 2014 through February 2018. She earned her BA in Communications from College of Charleston and her MFA in Creative Writing from Virginia Commonwealth University. You can follow her on Twitter @CtheresaC.

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