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Hidden Revenue Streams: Cost-Cutting Measures for Cannabis Businesses For Zero Dollars

Hidden Revenue Streams: Cost-Cutting Measures for Cannabis Businesses For Zero Dollars

Miami, FL,  – February 29th 2024 – Partnering with the right company can unlock new revenue streams and cost-cutting measures for cannabis businesses without any upfront costs as the industry navigates ongoing regulatory uncertainty at the state and federal levels, hindering profitability. This is how:

Novus Cannabis MedPlan, A Health Plan Carrier, Offers New Revenue Streams and Cost-Cutting Solutions:

  • Reimbursement: Novus reimburses cash to cannabis businesses (verticals) as providers, even if the patient/customer never purchases from them directly. Adding this to your company’s balance sheet has the potential to increase the valuation of your business.
  • Cost Cutting: Novus has partnered with insurance providers that offer P&C coverage at a significant discount compared to traditional rates. This offer saves cannabis businesses 20% on P&C liability coverage, as Novus takes no income if you are a Novus provider.
  • Marketing Collaboration: Novus offers joint marketing initiatives that can reduce cannabis businesses’ marketing costs by up to 30%.
  • Easy Integrations: Novus seamlessly integrates with existing business operations, bypassing any business disruptions.
  • Distribution Network: Novus can help brands expand to new states with legal cannabis markets.
  • New Customers: The Novus insurance sales network of over 1,200 agents can help the cannabis business attract new customers.

How it Works:

Novus generates revenue from its policyholders and shares some proceeds with cannabis businesses as a provider. When a Novus policyholder purchases a participating cannabis business, the company offers a pre-negotiated discount. Novus then reimburses the business directly, not taking any profit from the cannabis sale itself.

In conclusion, Novus can assist you in generating more profitability through reimbursements, cost-cutting measures, and marketing collaborations. They offer a unique revenue-sharing model where you can receive reimbursements for serving their policyholders, and they can help you save on insurance and marketing costs.

About: Novus Cannabis MedPlan is a unique player in the health insurance market, offering coverage for cannabis across various insurance lines for both medical and recreational users.

Media Contact: Frank Labrozzi
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