Corey and Conlan Keller, Co-Founders of Bonanza – Interview Series

What subjects did you both study in college and how did those studies help you better prepare to create and operate Bonanza?

Both Conlan and Corey went to business school, where Corey focused on finance while Conlan specialized in operations management and information management. These foundational business skills were instrumental as the brothers built Bonanza’s business from one state to five. And they continue to be critical as Bonanza works to grow the business.

Prior to founding Bonanza, what roles did you hold in the cannabis industry and what were the most valuable lessons of working in cannabis that you learned during those early years?

Corey focused on pursuing a career in baseball through college in Florida but like everyone, he needed an income. One of his buddy’s fathers had started working in cannabis and his company needed someone to run the books. He hired Corey to work under his management and then be able to take over as CFO once he retired.

So that’s essentially how Corey got into the business. Prior to co-founding Bonanza, Conlan did not have any direct experience in the cannabis space, but he gained valuable operational experience during his time at Lyft, where he contributed to logistical processes in the Denver area. These logistical skills are critical in the cannabis industry and have helped the business growth and expansion, taking the company’s high-quality cannabis products from one market to five.

What are some neighboring state markets that the brand has expanded into and what issues arose when beginning to expand the brand into other states?

The process of expanding Bonanza’s operations across the country has been the most fulfilling thing we have accomplished to date. It’s very exciting to bring a new product into an entirely new state, secure the necessary partnerships needed to launch and then watch consumers begin to enjoy the products.

“Bonanza owns and manages all of its own manufacturing facilities in every state we operate… It’s a lot of work, but there’s really nothing more exciting.”

Bonanza owns and manages all of its own manufacturing facilities in every state we operate, so that requires a lot of research to find the right facility, get it outfitted for production and hire the right team to manage it. It’s a lot of work, but there’s really nothing more exciting. Thus far, we have grown from Colorado to be in a total of Four states, including Nevada, New Mexico and New York. Each new state was a learning experience, and we look forward to expanding into more states moving forward.

As a brand, why does Bonanza focus so heavily on vape cartridge products as opposed to flower products? On the retail side, has the focus on vape cartridge products either increased or decreased overall sales when compared to other similar brands?

I think we just understood early that the popularity of “smokeless” products in general would continue to grow. The categories of vape cartridges and all-in-one devices offer so much room for growth and innovation. We have already witnessed a ton of new types of vape products hit the market and believe this trend is going to continue for the foreseeable future as consumers increasingly desire products that are more discreet and more easily managed. We don’t see that slowing down at all. Of course, there will always be customers who enjoy great flower, but increasingly those customers are also purchasing a vape from time to time.

From a production standpoint, what added manufacturing or regulatory costs come with focusing so much on cannabis extracts?

From a production standpoint, working with cannabis extracts typically adds complexity at multiple stages of manufacturing, from sourcing and handling to formulation and testing. There can be higher costs related to enhanced quality controls and more frequent analytical testing to ensure consistency, potency, and safety. Regulatory compliance can also increase expenses, as requirements around licensing, traceability, labeling and reporting vary by jurisdiction and can often change over time.

Given the age and size of the Colorado cannabis market, how does Bonanza continue to stand out against its competitors? What have been some common reviews you’ve received from consumers?

Bonanza’s strongest attribute is the attention to quality and consistency we give to every product in every state we operate. We are proud to be a family-owned and operated company, which means our reputation is on the line with everything we do. This is just one of the reasons why we place such high importance on adhering to regulations for safety and testing, partnering with reputable processors for the highest quality ingredients and using only top-shelf hardware in Bonanza’s products.

Since establishing the company, we have found success in growing an organically profitable business without relying on loans or external financing, so we can maintain our focus on quality control. We own the manufacturing facilities in every state we operate, which provides yet another way for us to ensure consistency and quality. If there is one comment consumers continually make is they appreciate the consistent quality of our products. They can rely on Bonanza every time.

As a brand that has operations in multiple states including both coasts, what are some unique or specific ways that the individual state markets are different from each other from a regulatory standpoint and how does Bonanza have to alter their operations to be compliant?

There are always challenges when you are working across many states in this industry. Keeping on top of labeling mandates, packaging regulations and testing protocols in each state can be time consuming and frustrating. Of course, we would like to see fewer regulatory hassles and more consistency across markets – as well as a greater dedication in the industry to quality and high standards overall, in both products and business practices.

What are some exciting plans for the future of Bonanza? As we go into the second half of the 2020s, how does Bonanza plan on maintaining its popularity?

Bonanza Cannabis Company is always on the lookout for expansion. In early 2025 we launched in New York and we are actively seeking new opportunities in other states as well. While no specific new market has been determined, we think our focus on quality, consistency and reliability is something that cannabis consumers everywhere are desperately seeking. Bonanza is happy to provide it.