For this week’s Power Players interview, we’ve got a very interesting conversation with Derrick Friedrich, COO of testing company CannaSafe. The company, which tests more than 30% of the legal cannabis in California, has seen revenue skyrocket 12,000% in the last three years.
Among other things, we talked about what product companies should look for in a testing lab, how they test for THC and the coming lab consolidation.
Here’s what he said about…
Variations in test results:
In our world there isn’t a best value. One thing that’s limited in this industry is standardization. With it being illegal federally, the resources of the federal government are not available to the states, and the states are basing everything off of their own experience of their budgets to create standardized procedures across that.
That’s something that the state of California needs to continue to do, to drive standardization. Once that standardization is driven into the industry, then you’re going to start seeing values from lab to lab almost go away. They’re going to become very, very similar.
How they keep customers:
The more experienced, the solid companies, the [national brands] are our main customers and they’re the ones that are not fly by night. They are looking for us to give unbiased, real value so that if there is a problem they can make changes in their process and procedures and put out a safe product for consumers.