Today we’d like to introduce you to Eddie Osefo
Hi Eddie, it’s an honor to have you on the platform. Thanks for taking the time to share your story with us – to start maybe you can share some of your backstory with our readers?
My background is in the legal field as an attorney by profession. However, I am also an entrepreneur, a father, a husband, and an everyday professional who colors outside the lines by starting a legal cannabis business, Happy Eddie. I would characterize myself as a social smoker. The first time I tried cannabis was in college at the University of Maryland, College Park at a party sophomore year and have had a relationship with the plant ever since.
I decided to enter the cannabis industry when Maryland legalized marijuana use for adults in 2022. To enter into an emerging industry, in my home state where I can make an immediate impact was a no brainer. However, due the licensing processes in place at the time, I knew that I could not just hop into this industry, so I sought out an established and reputable partner. I was immediately drawn to Curio Wellness because they are a family-oriented business with women at the helm. With a father and daughter as co-founders, another daughter as the Chief Revenue Officer (CRO) and a son as General Counsel, I knew that Curio had the small family focused approach to growing a business and would be great partners to launch a new brand in a growing industry filled with tricky regulations.
The “Happy Eddie” brand name was inspired by my Real Housewives of Potomac viral moment on the show during Season 7 where one of the ladies appearing on the show said that I was “flirting” with her because I smiled in her general vicinity. As a result of me smiling in her general vicinity, it was proposed that I was making an advance towards her that she later shared with the group calling me “Happy Eddie”. I guess a smile really does go a long way. That moment went viral on social media given the nuttiness of the accusation and “Happy Eddie” was born.
As a Black man with a legal cannabis business in a state with adult use knowing how historically cannabis has led to the over-incarceration of Black and brown people feels momentous. I am breaking barriers for those to see and follow in an industry where Black cannabis entrepreneurs account for less than 2% of the nation’s marijuana businesses, while Black and brown people were/are nefariously impacted and disproportionately incarcerated by the War on Drugs and cannabis demonization.
After legalization of adult use in Maryland, and as public attitudes surrounding cannabis continue to change in our country, I hope to bring visibility to Black-owned brands, lessen social stigmas around cannabis, and normalize adult consumption. I also plan to utilize my platform and privilege as a Black man with a legal cannabis business to help other Black and brown people gain access to this industry and spotlight efforts and programs seeking to address injustices on disadvantaged minority communities that were disproportionately targeted for enforcement as part of the War on Drugs.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
This journey has absolutely NOT been a smooth road. Starting a new business can indeed come with its fair share of obstacles, but with careful planning and perseverance, many of these challenges can be overcome. Here are some common obstacles I encountered when starting Happy Eddie:
1. Lack of capital: One of the biggest hurdles for many entrepreneurs is securing enough funding to get your business off the ground. This might involve personal savings, loans, investments from family and friends, or seeking out venture capital. I wanted my business to be 100% black-owned, so we started with personal savings, but as we look to grow and scale the business, lack of capital may become a larger issue.
2. Market competition: In the cannabis industry you face stiff competition from established businesses and brands that consumers and patients already know and love. We had to focus on our brands value proposition and differentiate our products — creating a cannabis brand with the aim of giving professionals an alternative outlook on life – Everyday Professionals Who Color Outside of the Lines. Our hope is to destigmatize and educate the masses on the positive impacts of cannabis in the world, bring visibility to Black-owned brands, lessen social stigmas around cannabis, and normalize adult consumption.
3. Finding the right team: Building a competent, enthusiastic and dedicated team is crucial for the success of any business. I still struggle in the area of finding the right people who share your vision and work ethic. This is a work in process and can be challenging, especially in the early stages when resources are limited.
4. Regulatory hurdles: This is a no-brainer. Navigating the legal and regulatory landscape can be complex and time-consuming, especially when you are entering a heavily regulated industry like the cannabis industry.
5. Marketing and customer acquisition: Getting the Happy Eddie brand noticed and attracting customers can be a significant challenge, but we had a slight leg up in this department because of my platform on the Real Housewives of Potomac and the fact that audiences can resonate with the brand’s origin story and how funny and unlikely it occurred.
6. Scaling and growth: While it’s exciting to see your business grow, scaling too quickly can also pose certain challenges. We are weighing the pros vs cons of scaling Happy Eddie and hope to be in additional states by the end of this year.
7. Adapting to change: The business landscape is constantly evolving, and successful entrepreneurs must be willing to adapt to changes. So my number one recommendation to budding entrepreneurs is to stay agile and always be open to new ideas and approaches so you can achieve long-term success.
Despite these challenges, I found the journey of starting and growing Happy Eddie incredibly rewarding. We are still in the infancy stage of the business lifecycle, but by approaching obstacles with creativity, resilience, and determination, I was able to overcome these early challenges to build a successful business.
Appreciate you sharing that. What else should we know about what you do?
I plan to utilize my platform and privilege as a Black man with a legal cannabis business to help other Black and brown people enter this industry and spotlight efforts and programs seeking to address injustices on disadvantaged minority communities that were disproportionately targeted for enforcement as part of the War on Drugs.
If you had to, what characteristic of yours would you give the most credit to?
As a professional, a family man, and a serial entrepreneur, I know first hand that health is wealth and the secret to wellness is maintaining a balance between working hard and playing hard. Simply put, we owe it to ourselves to experience life to the fullest. A quality that permeates through everything that I do is always put forth maximum effort and you will reap the seeds you sew.
Success does not have a time limit or expiration date, so if you continue on your path and put forth the work, success will eventually come.
Contact Info:
- Website: https://www.happy-eddie.com
- Instagram: happyeddie__
- Facebook: happyeddie__
- Twitter: happyeddie__
