Episode 74: How to Get Into the Hemp Industry with Maya Gilliam

Acquania Escarne 0:00

Are you an entrepreneur who needs help setting up your business? Maybe you need help understanding which entity you should establish should you be an LLC, should you be an S corp, or maybe you're not sure where to get your tax identification number or how to get your DUNS number so you can start to build business credit. I have the perfect solution for you. My business setup package, you'll get a domain professional email, getting your website going, and even some tools to help you set up your business. But most importantly, you're going to have someone help you set up your entity, virtual address, business telephone number, branding, and other operating expenses. I don't want the process of setting up your business to stop you from starting today. So feel free to check out bit.ly/bizllcsetup to get started with your business setup package today.

You are listening to The Purpose of Money Podcast, a podcast where we talk about ways to build wealth and create more freedom in your life today. I am your host Acquania Escarne.

Hey guys, welcome back to The Purpose of Money Podcast today I'm super excited to have full time entrepreneur Maya Gilliam. She is the owner of a beautiful spa and curated wellness Airbnb location in Ghana, as well as an owner of an upscale hemp dispensary that goes from seed to bottle. And we're going to talk all about that today on the podcast because I want to share her story. Also understand what inspired her to launch these two businesses, and how you too can get involved if you want to check out the location in Ghana or learn more about how you too can create a dispensary of your own. Hi, Maya, welcome to the podcast. How you doing today?

Maya Gilliam 2:03

Hello. I'm doing great. Thank you so much for having me. I appreciate it.

Acquania Escarne 2:07

Yeah, me too. So this is really exciting. A mutual friend introduced us recently. And I was really inspired by your journey because my friend who was actually traveling back to South Africa had a layover in Ghana. And she told me, Jacqueline Cole, by the way, shout out to Jacqueline. That's my girl. She told me how in her layover, she was able to book a room hang out at your spa for a little bit, relax and then continue on her travels. So I was just curious. So learn more about your boutique spa and Airbnb location. But before we get into that, I want to know what did you do before you were a full time entrepreneur?

Maya Gilliam 2:57

Oh, okay. So before that, I went to Howard University. I worked as a photo editor from about freshman year all the way to senior year and then right after college I graduated in about a month later I started working at USA today as the assistant photo editor for the sports section. So my training is in total journalism in multimedia and TV production.

Acquania Escarne 3:23

Wow. So what made you get out of that space to pursue full time entrepreneurship?

Maya Gilliam 3:28

Well, you know, I found myself always at the computer literally all the time and I just needed something where I could get my hands on people and not always typing. So I went to massage school and maybe an serial entrepreneur first I'm going to open a spa after that, and also I was thinking about blackouts and the internet they decided to shut down the internet you know I will be completely jobless so I needed something a little bit more balanced and having to do with wellness. Yeah,

Acquania Escarne 4:00

I like it. So what happened first, the spa or the CBD dispensary?

Maya Gilliam 4:07

Okay, so the spa came first. Well really there's a company also called Third Eye Digital. We do web design, graphic design and video. Um, so that came first I started that my sophomore year at Howard University. And then after that, the spa came and so the Spa has been in business for about almost 11 years now in Winston Salem, North Carolina. When COVID-19 Hit in the spas were shut down, I basically repurposed the spa into an upscale hemp dispensary. We had already had our license to grow at that point but we had not grown yet. And I just and I remember getting a letter from the Department of Agriculture, saying that this is considered an essential business so you can stay open during the pandemic and I was like, I think I like essential businesses more than I do non essential business because having that cashflow just like completely stopped was like a huge. So I rethought everything and throughout the pandemic, we basically turned into a hemp dispensary made products we grew hemp and we sold it to entire United States. Yeah. So I pick up everything.

Acquania Escarne 5:22

I like that but I want to kind of ask you a question because I know there are listeners who may not fully understand the difference between the terms we hear these days. So you're clarifying your hemp dispensary and then I know there's others who sell products with CBD. And then there's actual medical marijuana right? And I had an episode with Hope Wiseman about her medical marijuana dispensary in Maryland, but in North Carolina, I know the rules may be different. So just for those who are not aware, can you break down the differences? Like what makes hemp dispensary different from CBD products vendor or a medical marijuana dispensary? Or is it all the same thing?

Maya Gilliam 6:11

Okay, so basically hemp and CBD is the same thing, okay. It means that it's under .3% THC. And that flour or in that product or in that oil or whatever it may be. It means that the THC content is lower than the legal limit of whatever state that you're in at that time. And that's gonna be under .3%. So that is what classifies that as a hemp product or a CBD product. Hemp and the CBD are really the same thing. So CBD is derived from the hemp plant. So it's really the same thing. And then so for the medical, that's going to be much higher THC content. So it's going to be anything over that legal limit of most states, which is going to be .3%. So, anything over that is considered cannabis, the very high quality, THC is going to be the medical cannabis. So it really just depends on what state you're in and what country you're in, which will determine what you can work with.

Acquania Escarne 7:10

Nice. So just to clarify in your locations, In North Carolina, you're producing hemp products under the legal limit and those are being sent all over the world or even the US, all over the US. But you're not using any of what you grow to produce medical products medical marijuana, that, is that illegal in North Carolina? I'm not even sure.

Maya Gilliam 7:38

Correct. So medical is not yet legal in North Carolina. So that is the reason why we are in the hemp program. Um, so we only make hemp products, but it CBD products. But really, when it comes to pain relief, CBD does have its place in the medical community. Very much so. So it's not just the THC that's going to be beneficial to those types of situations. So yeah,

Acquania Escarne 8:02

That's excellent. Thank you so much for breaking it down because even I was a little confused. So I was like, wait, let me make sure I understand. So I love it because I've heard a lot of different people say CBD can be very useful for stress, anxiety, even to digested in tea. I had someone tell me there's certain products you can eat. There's others that you may or topical, what have you noticed to be some of the greatest benefits?

Maya Gilliam 8:29

The greatest benefits to me and the customers that I see and what they talk about is going to be the pain relief is going to be the insomnia relief. So a lot of our clients can't sleep through the night but when they take one of our CBD Delta Eight Gummies, they'll sleep the whole night. And maybe the next morning, you know, so there's things like that. And then, so, I'd say the main thing, and there's so many different benefits, but I'd say the main thing that I see are going to be pain relief and insomnia.

Acquania Escarne 8:59

I love it. I love it. So tell me a little bit more about challenges as an entrepreneur and starting the hemp dispensary. Were there any challenges? I mean, it looks like the government gave you an idea. They sent you a letter saying you can operate and that sparked a lot of inspiration, which most entrepreneurs do pivot well. What other things did you have to do to prepare that business? And what were some of the challenges you faced?

Maya Gilliam 9:27

Sure. So basically, with Hempress Farms, we had to first of all gather the funding to even create the cultivation facility. So after we did that, excuse me, I have a Sphynx cat right here. So we had to write a call there. We had to gather the funding but once we gather the funding from friends and family, we basically sold plan so you had to get, I had to get creative. I don't know how other people did it, but how to get creative and I created an investment package where you could purchase plants and we would grow that plant and cultivate that plant. And then when we sold it and harvested it, and dried it and cured it and sold it, then that person will receive their return for that plant. So that's how we gathered the seed funding for the business in general. Also, the other thing is you have to get your license to grow. So I always tell there's a myth in most like black people, when it comes to this industry that is super hard for us to get into. But I let them know that it's really not all you have to do is fill out the paperwork, and send in the payment, and then you're in there. And also, there's nothing on this, the application that asks you what race you are. So there's really nothing stopping us except for that thought pattern. So I like to dispel that as much as I can, too. But yeah, so I mean, there are little things like you can't have one if you have a felony in the past 10 years. But guess what you can put the license in your mother's name, or your wife's name or something of that nature. So there's still nothing stopping you from working in this industry. So getting the license, best of things. And then you also then need to get a processor license as well. It's different for each state. It's super easy in North Carolina. And I trained a lot of people on how to grow hemp and how to create hemp businesses and I always tell them, that they have to create products. So growing, hemp is not going to be enough to stay afloat in this industry. You have to create products and sell those products, wholesale or retail. And that's the way to really survive in this business from what I've seen.

Acquania Escarne 11:46

I love it. That's really good. And I think people need to know that because like you said, there's myths that oh, you can't do this because you're black, or oh, you can't do this because it's hard. And you're like, wait a minute, none of that is actually asked of you and they don't know. So I appreciate that sharing that transparency, because that kind of limits the entry, right? Everyone is always afraid of the lab, the barrier to entry, but you're like there are none. It's really, if you need to just get off your butt and take action if this is what you want to do. Now, creating products sounds simple. But do you have to test anything first, before you actually market it? Like how do you know what people want? Or how do you know what products to create?

Maya Gilliam 12:33

Well, you know that every hemp company has to have its base products, and that's gonna be the pain oil, and it's going to be a buy butter, that's gonna be some sort of gummy, you know, so you have those basics and then basically what I did is I just get creative. And I make products that I like, personally because I like luxury. And I travel the world a lot and visit luxury locations, spa resorts, things that nature and I pick up ideas as I go along. So I just make what I like, like, for example, our CBD infused white truffle oil. It's amazing. I love white truffle oil. So things like that. Your base, so there, you have your base products that you know, people want retail, and then you just get created from there with the rest of your products that differentiate you from everybody else.

Acquania Escarne 13:27

Love it. So I do have a question. Now we're gonna pivot a little bit to talking about your Airbnb location in Ghana and what inspired you to create this boutique spa that you can enjoy for a couple of days or a couple of hours? Why Ghana? Do you have any particular connection to Ghana? Or is that just an area where you felt it was easier to start a business and be able to work between both worlds? Because I know you are traveling between the continents to manage these businesses?

Maya Gilliam 13:59

Yeah. So Ghana, I went back in 2007. And I absolutely loved it. So ever since then, I had pretty much gone back to like once a year, sometimes twice a year. And I just cultivated a lot of friendships, a lot of business relationships during that time, and it's a very fun place. It's an emerging market. I watched that real estate just changed over that 10 year period, you know, and I saw how how they were building the new residential properties, commercial properties and industrial properties. So when I got the chance to be able to do that, I definitely jumped on it. And I purchased, well, I purchased the rendering and a foundation at that time, but it had already been playing. So I just got into the early stage when it was only in foundations. And then four months later, we moved in completed. Yeah, it's in excellent neighborhood called Adjringanor West Trasacco. Easily gone and gone on very close to everything super convenient. Very, very nice neighborhood. Close to everything. So the real estate itself is the main piece of value, you know, when it comes to really any company, which is why I always suggest to entrepreneurs, wherever you're working, try to own the location. Okay. Definitely try to own a location because that's going to add value to the business. Okay,

Acquania Escarne 15:36

Excellent, excellent tips. So how's that going? Are you facing in the pandemic challenges getting the spa? And the Airbnb books? Or is it pretty much business as normal?

Maya Gilliam 15:50

We'll see. So we've been open for about a week or so. Now, it was hilarious because Jacqueline was coming in, right as I was leaving. So I was leaving, I had my suitcase ready. And she sent me a message on WhatsApp. I didn't realize it was her until she sent me her name. And I was like, Howard University coming through again. So I met her there, we chatted and she enjoyed the space, we have a full 24 hour full service concierge, we have a gentleman and a lady in there ready to serve you all 24 hours, you know, they have Jacqueline on the on the little our little moped and drove up the street so she could get something to eat, you know, and helps her in any way she needed during her a couple hours stay. So we're the perfect place to just go and relax. Lovely, lovely relaxation spots throughout the building, and you really enjoy it.

Acquania Escarne 16:45

I love it. And you said that you could also stay there overnight and access the spa during your stay. So that's, that's pretty dope. So this has been awesome. I'm super inspired by your story and your transparency. I hope that listeners listen to this podcast episode and take action or at least do the research to see if they do want to be in the hemp industry what they need to do. I've been to several conferences where we've had experts in the CBD space, talk about how important it is for black people to get involved now, in the hemp industry, since hemp is legal in most states and able to be cultivated, why not get into that space now. So if your state becomes a state that allows medical marijuana, you don't have to start from zero, you can pivot, you can take action. So I hope the listeners understand that this is an opportunity, definitely do your research for your state. Because you were only speaking about North Carolina and what you're able to do there and every state is different. But it's important to get involved now if you legally can. So the name of the podcast is called The Purpose of Money and I asked my guests a signature question. What is your purpose for money?

Maya Gilliam 18:02

Okay, so the purpose for my money will be freedom and the ability to help more of our people on a global scale, you know, to help lift the Africans in the diaspora, you know, start with us, we have to start with us. So yeah, I can't do that until I'm financially free and I have unlimited financial resources. So, that's what we're working on now.

Acquania Escarne 18:30

Come on Jesus. So without further a do, please let my listeners know where can we find you on social media and any websites you have please drop those now. So they can check out the dispensary and the spa.

Maya Gilliam 18:43

Sure. Thank you so much. So our website is hempresshealer.com. That's hempresshealer.com and you can find us on Instagram @hempressfarms with an s, Hempress Farms. And then you can find the Ghana spot Airbnb on Instagram @ma'atispagh, okay, on IG. So yes, please follow us and go to the website. And we have actually a Fabulous Valentine's package coming up. So it's very, very nice. So check it out.

Acquania Escarne 19:18

Definitely. We'll put all of that in the show notes, guys. So check out the full show notes for the deets, and I hope you guys get to check out the location in Ghana and order some products from her upscale hemp dispensary. Until next time, keep building generational wealth.

Thank you for listening to The Purpose of Money Podcast. For more resources and information check out my website thepurposeofmoney.com and while you're there, please sign up for our newsletter so you have the latest information on new episodes and blog posts. Until next time, keep creating freedom in your life today.

Transcribed by https://otter.ai