Annu Khot, Founder of Socíale Dispensary- Interview Series

In the rapidly evolving world of cannabis, navigating the industry as a female entrepreneur or minority business owner can present unique challenges. Despite the increasing acceptance and legalization of cannabis in various regions, there remains a stark underrepresentation of women and minority groups in key positions and ownership roles.

Breaking barriers and achieving success in this space requires resilience, determination, and a commitment to overcoming the obstacles that come with being a female and minority entrepreneur.

In this interview featuring Annu Khot we explore specific challenges faced by women and minorities in the cannabis industry. Annu is the founder and CEO of Socíale, an employee-owned business exclusively offering products from female and minority-owned operations. Socíale embodies Annu's vision of providing ownership opportunities to those disproportionately impacted by the War on Drugs.

Her leadership has earned her a spot as one of the Top 50 Women Leaders of Illinois for 2023, and she has received the distinguished Asian Pacific Islander Heritage Award.

Meet the incredible Annu Khot. 

Congratulations on Socíale's recent $3M capital raise! Could you share some details about how this funding will be utilized and what it means for the company's growth and development?

Thank you!

This funding will be used to expand Socíale's retail footprint across Illinois. Our Park Ridge, IL location is opening later this summer, but that is just the start. We are planning multiple Socíale locations across the state–which will all be social equity dispensaries committed to serving the community, furthering cannabis social justice, and creating economic opportunities for our employees.

Socíale has been recognized for its commitment to championing inclusivity in leadership, ownership, and usership. How does the company actively work towards dismantling societal conditioning and systemic barriers in the cannabis industry?

The cannabis industry is experiencing explosive growth–but most often, dispensary owners and industry executives are the ones who benefit. Ever since we started Socíale, we have been passionate about enabling our employees to share in the dispensary’s success. It has been a full team effort getting our first shop ready to open, and we have been celebrating all wins along the way. From the very start of Socíale, major decisions–choosing vendors, creating a construction plan, deciding on a marketing vision–have been led by employees with minimal input from management. Our employees didn’t have prior industry experience, but they led all workstreams with so much passion and dedication that it truly became their project rather than my own.

In addition, many of our employees hail from traditionally under-employed communities in the Chicagoland area. We have also forged partnerships with numerous cannabis social justice organizations, and will be donating a portion of our monthly proceeds to further their work.

Socíale is planning retail expansion. Can you provide insights into the company's strategy for expanding its retail footprint and reaching new markets?

We are planning to expand into areas of Illinois that are currently underserved by the cannabis industry. While Illinois has seen its number of dispensaries grow significantly over the past few years, many areas of the state remain dispensary deserts. We are planning to achieve this goal with the $3 million we have already raised, and are in the process of raising additional capital. We are also looking to expand into areas that have cannabis-adjacent businesses that can serve as a referral source. For instance, our Park Ridge, IL location is next to a well-respected chiropractor.

Opening the first dispensary in Illinois is a significant milestone for Socíale. What factors were considered in selecting the location, and what can customers expect from this flagship store in terms of product offerings and overall experience? 

We looked at numerous locations before deciding on our Park Ridge, IL location. We closely analyzed all existing dispensaries in the area, and determined that there was enough of a need in Park Ridge for a new dispensary that would allow us to carve out a differentiated customer base. Our flagship location–and all other future Socíale locations–will aim to amplify female-owned and female-led cannabis brands. As we are also female-owned and female-led, we want to extend that same approach to our product assortment. The dispensary experience will be wholly focused on education. Whether you’ve never stepped foot in a dispensary or are very familiar with the category, our budtenders will share the best products and consumption methods to suit your needs.

Annu Khot, your leadership has been acknowledged with various prestigious awards. How do you personally approach the mission of providing ownership opportunities to those disproportionately impacted by the War on Drugs, and what impact do you hope to achieve through Socíale's initiatives? 

It has been an honor to be recognized as a leader in this space. As I mentioned a bit earlier, ownership will come in the form of Socíale employees’ equity and bonuses directly tied to our success. Through this initiative, I hope that the entire industry can redefine how profits are distributed. For instance, a cannabis brand’s success is nothing without the growers, packers, and cutters who help shape the end-product. I hope that our approach is a start to dispensaries and brands thinking about the people who drive value–and allowing them to share in their profits.

Inclusivity is a core value of Socíale. Can you share some specific measures or initiatives the company has implemented to ensure the representation and support of female and minority-owned operations in its product selection and business practices? 

Here at Socíale, we are a female-owned, female-led, and female-proud company. We have forged relationships with many female cannabis brand owners–as well as incredible female entrepreneurs who create cannabis accessories, cannabis merchandise, and more. In terms of our operations, we have an entire team dedicated to outreach within minority and traditionally under-employed communities–and we have found many incredible employees this way.

It was a great pleasure to have this conversation with Annu Khot, Founder of Socíale. Readers who wish to keep up with what the company is doing are  invited to do so through the company's website.