Franny Tacy is a cannabis icon. The founder and CEO of seed-to-shelf hemp and health company Franny’s Farmacy changed the face of hemp cultivation in the South. A farmer’s daughter, Franny studied forestry and education, eventually earning a Ph.D Q&A. She spent 15 years in pharmaceuticals before returning to her roots in North Carolina. A longtime supporter of cannabis reform, Franny began to assist with efforts to bring the state online to the country’s legal hemp program. Fast-forward to today: Franny’s Farmacy online business is booming with brick-and-mortar franchises across multiple states.
Learn more about how Franny’s Farmacy got to where they are today, the disruptive model that garnered national attention, and what’s to come in this exclusive Leafwire Q&A.
Leafwire: How has Franny’s Farmacy evolved since its inception?
Franny Tacy: I planted the first crop in 2017. I then organized and helped start a women in hemp nonprofit, expanded into a three-year research trial with the university for hemp as a crop in 2018. I was the first person in the country to do a TED Talk on health as a crop to start showing people what this was all about. It’s also the year I pivoted to grow hemp for CBD.
In 2018, we opened our first dispensary. And from then, we were the first to put UPC codes and tracking, seed to shelf, where all our products are coming from. We were involved with legislation. We were educating police forces. We spent two years helping build the supply chain. All of our farms and our products got implemented into the research program. We were working with single crops. We were testing. We became vertically integrated, and in the process, the most reputable people that were involved in research.
LW: How does Franny’s Farmacy set itself apart?
FT: All our budtenders go through all sorts of training, they are specialized in helping other people. We also invest more in GMP practices at our manufacturing facilities over marketing and advertising of our products. We have discovery day, twice a month where people can actually come to our facilities and tour. Transparency is so important in our space, especially since it’s highly unregulated.
LW: Your franchise model was quite disruptive. Tell us why?
FT: In our franchise model this year, in my first year as CEO, we worked on software programming to give our franchisees opportunities for a percentage of the E-commerce business that they can operate. They also have multiple revenue streams beyond the brick and mortar. It made the national press. People are like “she’s either crazy mad or a genius,” which is yet to be determined. And that won many awards. From being on the cover of Franchise Times to being in Entrepreneur Magazine. I’ve been in every major media, ABC, NBC Fox, on 90 podcasts, have won awards in our community for best in business, entrepreneur of the year. There is a lot of recognition for what I’m accomplishing doing things a different way.
It sets us apart because we’re a brand. And there’s a person that stands behind everything who also takes responsibility. We’ve set up a system to help people be successful because nothing happens alone.
LW: What advice do you have for entrepreneurs looking to enter the cannabis space?
FT: Find a mentor, or a franchise company like us, and don’t go at it alone. There is a lot that is moving. And together, we make a better impact, move it in the direction that it’s beneficial for all people, the invisible impact.
When you find a mentor, it needs to be somebody that has the experience, which is hard to find right now. Fortunately, the number’s growing. Lots of people have advice. So make sure that your mentor is somebody that has more than lip service that has the experience.
LW: How else is Franny’s Farmacy evolving?
FT: Franchisees now have other opportunities to integrate their businesses. The Canna Cafe is super fun and exciting. It’s not all CBD or cannabis-infused. A lot of this is bringing hemp for food to the forefront. We’re more than just a dispensary. We are an example and advocate for hemp. All aspects, even building materials. For our franchises, we incorporate hemp wood. And that’s super exciting. So everything in this experience is an immersive experience. Oftentimes people don’t even understand how embedded in this industry our company is.
We also have 46 products in the queue that we will be launching, so stay tuned this year.
LW: What else should Leafwire readers know about Franny’s Farmacy?
FT: We are a high-quality, trusted, seed-to-shelf business that’s building a brand that will always remain true to seed to shelf through quality and trust. We walk our talk.