Henry Calix’s entrepreneurial journey started like many others — with less than a dollar in his bank account. Today, however, as the founder and CEO of Weedsies, he’s revolutionizing the cannabis industry. Calix achieved success by incorporating state regulations for cannabis sales, technology, and retail. He has since grown into an accomplished entrepreneur with several companies in his control, including Weedsies, Calix Fashion, Calix Online Financial, and Perspective Podcast with Henry Calix .
Calix is a forward thinker whose entrepreneurial spirit and disruptive nature have brought him immense success. Having achieved his business successes, Calix now strives to empower others through each of his ventures.
In 2020, during the height of the COVID-19 pandemic, Calix had a vision for the future of cannabis and saw a gap in the market that he could fill. Weedsies, the most notable of Calix’s businesses, serves as a one-stop online shop for all hemp, CBD, and cannabis products. Weedsies is unique in nature as it enables CBD, Hemp/Cannabis shops, dispensaries, and vendors to sign up and develop their own digital businesses. This helps business owners in the industry sector stay afloat during challenging economic times — such as was seen throughout the pandemic — and reshapes the cannabis industry through a much-needed digital transformation during a digital age.
Calix designed Weedsies’s business model in a way that puts vendors in control and sets them up for success and even connecting them with funding for working capital, orders, and product fulfillment. Calix states, “Small businesses and entrepreneurs have great challenges day in and day out. Cannabis businesses and entrepreneurs have all of the same challenges, and then some. Just being in the cannabis industry, things that are normal and often taken for granted in other businesses, tend to be a challenge in the cannabis industry.”
Receiving funding in the cannabis industry is known to be challenging due to the federal laws that prevent business owners in the sector from receiving funding traditionally. Several laws prevent cannabis companies from receiving funding, primarily due to marijuana still being considered a “schedule 1” drug by the federal government. Because of this, many traditional banks are unwilling to fund cannabis businesses.
While marijuana is illegal federally, some states have legalized it for medical or recreational use. Unfortunately, however, many outdated stigmas remain attached to the substance, causing some businesses in the cannabis industry to fail before they are given the chance to open their doors to customers.
Several obstacles prevent cannabis businesses from achieving equivalent success to more traditional, federally-approved businesses, including unforgiving tax regimes and complex regulatory structures. Additionally, the volatility of the cannabis market and its unpredictable consumer behaviors can cause inconsistencies, which are only fueled by supply chain disruptions.
Weedsies is a pioneer in ensuring the success of its vendors and deterring them from financial issues. Many of these issues were the ones businesses were forced to face during the pandemic, leading to many companies across all sectors shutting down.
“There’s so much untapped potential in this industry,” said Calix, “and I’m just excited to be a part of it. I’m excited to see where the future takes us.”
The future does look bright for Calix; cannabis is currently one of the fastest-growing industries globally, with benefits across health and wellness alongside tremendous support on the technical side that propels the industry forward. According to Fortune Business Insights, the global cannabis market is projected to grow from $28.26 billion in 2021 to $197.74 billion in 2028 at a CAGR of 32.04% between 2021-2028.
Indeed, the growth within the cannabis market has been exponential. With more states legalizing cannabis statewide, the industry is becoming far less stigmatized on a statewide level, making room for more disruptors, like Calix, in the industry. Although still in its startup phase, Weedsies is already receiving valuations of over $57.5 Million as a technology company not including the offline retailing divisions of Weedsies.
Calix reshaped the cannabis industry with innovation by bringing consumers a one-stop online shop with products from local vendors and by offering delivery services. The philanthropic aspect of Weedsies, combined with its vendor-centric approach, has helped Calix establish himself as an entrepreneur who goes the extra mile, receiving recognition through a nomination for Business Elite’s “40 Under 40”. This is a prestigious awards program that identifies outstanding young visionaries, executives, innovators, and entrepreneurs throughout businesses in the world today.
“As a young entrepreneur in a budding industry, it’s exciting and humbling to be nominated to this year’s Business Elite’s ‘40 under 40’ award,” said Calix.
The remainder of Business Elite’s “40 under 40” award winners are planned to be announced later this June in New York.
