The hemp industry in the US is thriving. With a market size of $3.61 billion in 2020 and $4.13 billion in 2021, it’s clear that hemp is in high demand, and businesses are springing up all over to meet it. For its multiple health benefits, hemp is being used in CBD products, personal care goods, and even food. Hemp can aid digestion, lower the risk of heart disease, relieve skin diseases such as acne and dermatitis, and alleviate menstrual symptoms in women. Many entrepreneurs are seizing the opportunity as hemp grows in popularity in more and more states. One name rising to the occasion is Franny Tacy, the first female hemp farmer in North Carolina in over 75 years and CEO of Franny’s Farmacy.
Franny is considered among the preeminent experts in everything about hemp. She is involved in research trials with North Carolina State University, is a TEDx hemp speaker, and is a founding member of the Women in Hemp non-profit. She is an inspiring farmer, sparking the hemp scene in the US. Franny’s Farmacy, her brainchild, is an integrated brand involved in farming, processing, manufacturing, distribution, and franchising in six states, as well as establishing CBD dispensaries across the United States – all to deliver easy and safe access to excellent products from seed to shelf, with a focus on health. She also has a solid academic background as well as vast experience in forestry and pharmaceuticals, making her a formidable force.
PIONEERING HEMP AS A CROP
Franny was raised on a farm by her father, a cattle farmer, and her mother, a banking executive. These early histories sowed the seeds of agriculture, which would eventually grow. In 2018, she had the notion of growing hemp. She opted to plant hemp for cannabinoid manufacturing, as hemp farming was permitted under the 2018 Farm Bill. However, it required extensive study and trial. So, she teamed up with her team at NC State University for a 3-year extensive trial phase for the most sustainable hemp farming. With trials happening both at her farm and the university, she launched her first Franny’s Farmacy dispensary, where individuals could have safe, easy access to quality hemp and CBD products.
From there on, the journey has been a roller coaster ride. While they are now the few pioneering brands to successfully franchise hemp and CBD dispensaries up and down the east coast, it was quite a challenge. Franny says, “The 2018 farm bill was just passed, and the FDA has yet to regulate hemp. We had to overcome various difficulties that most regular businesses don’t have to consider, such as banking, marketing, and advertising, just to keep our doors open and operations running.” Their success is due to their vertically integrated business model, which allows them to track the supply chain, quality, and delivery of products to each of their dispensaries and online, all of which can be tracked back to the original farm. She’s also innovating franchising by giving owners a piece of the online business and a path into the future of cannabis with a complete corporate team, training programme, and strategic partners for everything from banking to insurance, as well as their bespoke merchandise. She is called a “Trailblazer” by Fox for innovating and familiarizing hemp as a crop.
IN-LINE WITH MARKET DYNAMISM
Finding an opportunity where there is none illustrates the marksmanship of an entrepreneur. And the notion goes well with Franny. There’s no doubt the cannabis market is extremely dynamic due to legal changes. So, how do Franny and her team find opportunity and motivation? Franny says, “It’s evolve or dissolve.” Franny grew hemp before it was legally permitted, then fought smokable hemp in many states, and her flagship (Delta 8 Gummies) is still being debated. She was the US farmer representative at the national press conference for the passing of the Farm Bill, where she publicly announced, “Hemp and cannabis will revitalize agro-economies across the country and stimulate our economy in ways we haven’t seen or expected.” And might I add, of the 450 thousand plants in the world, cannabis is the only crop that can feed, clothe, shelter, and provide medicine.” She embraces change and has launched the first CannaCafe within the company’s newest dispensary in Asheville. The CannaCafe inside a Franny’s Farmacy dispensary sells CBD coffee, hemp-infused drinks, and freshly baked goodies. In this way, they are enhancing customer experience and enabling communities to connect, learn, and embrace hemp-wellness.
DRIVEN BY INTRINSIC R&D
Being vertically integrated, Franny’s Farmacy independently does R&D on various products. It helps them launch flagships, keep up with the market, and even deal with challenges strategically. The Delta-8 THC Gummies, which contain Gotu Kola, a well-known plant with a long history of enhancing overall health and wellbeing, is one of the finest flagships. The firm is also meticulous about quality and standards. Every product goes through extensive quality checks, and sources of ingredients are thoroughly examined for pesticide tests. “We routinely utilize a third-party DEA certified lab test to ensure all of our hemp and extractions are safe,” adds Franny.
It is also critical to assess what needs to be done to maintain expansion and healthy growth. While Franny’s Farmacy has always worked distinctively, it has worked with new perspectives since the outbreak. The brand is harnessing media coverage for organic growth, nurturing, and increasing brand awareness as they continue to expand across the east coast.
PEOPLE WITH A HEART AND PURPOSE
‘No vision can flourish without a dedicated team,’ and Franny’s Farmacy is scaling up with people who have a heart, a feeling of urgency, and a desire to learn. These are the characteristics and traits that help the team deal with day-to-day issues, as well as the pandemic’s intricacies. Their efforts are entirely intention-based, with care and consideration for others. For example, when a customer visits one of their clinics, they are greeted by an educated budtender, trained to understand and meet their individual needs.
Everyone on board is scientifically driven and utilizes it to bring hemp- wellness to the mainstream as effectively as possible. Franny believes education and transparency are integral components of their marketing framework. She explains, “Whether we’re partnering with local, regional, or national press on a story, taking part in local events, or hosting interactive hemp-infused dinner experiences, the root of everything we do is to educate and inspire to take health and wellness into the hands of each person we connect with.” Being purposeful and a humble hoot, she is giving people a captivating story they can connect with.
RAISING A TOAST TO HER STRIKING FEATS
Three years in business, Franny and her team have shown great conviction in their purpose. Sustaining a fierce pandemic and opening 7 (and soon-to-be ten) franchises are some of the noteworthy milestones of this ever-passionate CEO. Every major media outlet has featured her. PBS NYC even spent a day on her farm. She has a TEDx on “Hemp as a Crop” and has been a speaker on stages across the country over 30 times, including as a keynote speaker at TN State University, pushing about 60 podcasts now.
Franny and her team are cultivating several exciting opportunities at their moment in R&D and manufacturing. They are expanding their franchises along the east coast and coming soon to Greenville NC, Wilmington NC, Alpharetta GA, Ft. Lauderdale, and Miami FL while also filing for CT recreational license and launching 24 new products- all by Q2, 2022! You can learn more by visiting one of their dispensaries in NC, SC, GA, CT, VA, and FL. They plan to expand across the nation by the end of 2022, with more revolutionary products.
A MEMO FROM THE FOUNDER’S DESK
“Always be a learner. The more you learn the more you grow. The more you grow the more people you can help.”
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Business Talk is a digital business magazine that caters to CEOs, Entrepreneurs, VC, and Corporates. While working with entrepreneurs and business executives, we focus not only on their achievements. Our mission is to shed light on business entities, including their innovations, technological benchmarks, USPs, and milestones/accolades.
