Introduction and Journey into Cannabis
Taryell Simmons: All right, ladies and gentlemen, welcome back to another episode of the Rise Urban Nation podcast. Today, we're going to talk about building with intention with Hope Wiseman on thriving in regulated industries. What does it really take to thrive as a Black entrepreneur in highly regulated industries like cannabis? Today's guest is breaking the ceiling, shifting narratives, and building intentional pathways for the next generation of entrepreneurs. I'm your host, Taryell Simmons, and I'm excited to welcome Hope Wiseman, a trailblazer, visionary, and the youngest Black woman in the U.S. to own a dispensary. She is the founder of Mary and Main and Legal and Licensed. Hope, welcome to the show.
Hope Wiseman: Thank you for having me.
Taryell Simmons: Let's start with your story. What inspired you to enter the cannabis industry, especially at a time when so few people who look like us had ownership?
Hope Wiseman: To understand how I got here, we have to look at how I was raised and where my mindset was. I was raised in Prince George's County, Maryland. My mother is a dentist by trade and an entrepreneur who owned her own practice and real estate. She taught me to have an entrepreneurial spirit and look for opportunities to build wealth. I graduated from Spelman College with a degree in economics and was pursuing a career in investment banking in Atlanta in 2014. Around that time, cannabis was becoming mainstream on the East Coast. I saw it from an economic perspective as the beginning of the end of cannabis prohibition. It was a unique opportunity to get in at the ground floor of an emerging industry transitioning from an illicit market to a legal, regulated market where demand was already established. Opportunities like this are rare in a lifetime, similar to the internet boom. Going into legalization, it was crucial to see Black and brown ownership because the industry was built on our backs.
Advocacy, Equity, and Reparations
Taryell Simmons: The war on drugs disenfranchised many Black and brown people over simple possession. What values guided you in the beginning of this journey?
Hope Wiseman: Initially, I focused on the economic opportunity. Once we won the license, I realized many Black and brown entrepreneurs in the space were advocates or ancillary business owners rather than license holders. The disparity was massive. If we didn't implement preferences and resources into the laws, the gap would become insurmountable. I shifted my focus toward advocacy to make licensing processes more equitable. Additionally, cannabis businesses pay substantial taxes under federal restrictions. We must ensure tax revenue returns to the communities most disenfranchised by the war on drugs as a form of community repair and reinvestment.
Navigating Regulations and Avoiding Predatory Deals
Taryell Simmons: What are the biggest hurdles entrepreneurs face during licensing and launch?
Hope Wiseman: The first step is navigating complex regulations, which differ across every state. That is why I created Legal and Licensed, a coaching community designed to demystify the licensing and regulatory process so founders do not get taken advantage of by consultants. Beyond regulatory compliance, you must focus on core business fundamentals like location, foot traffic, and parking. Furthermore, raising capital is strictly regulated regarding ownership caps and control.
Taryell Simmons: How can entrepreneurs avoid predatory contracts and losing control of their businesses?
Hope Wiseman: Predatory deals are common when groups target social equity applicants. You must hire an experienced attorney when negotiating partnerships or capital raises. Boilerplate contracts do not work in cannabis due to state-specific rules and convertible debt traps. Never rely solely on AI or assume standard terms; an attorney protects your ownership and long-term interests.
Mindset, Resilience, and Shadow Work
Taryell Simmons: Were there ever moments you thought about walking away, and what mindset kept you resilient?
Hope Wiseman: Absolutely. What keeps me going is knowing our representation inspires other Black and brown entrepreneurs and helps shape legislation. Navigating this space as a young Black woman in a male-dominated industry required deep internal shadow work. Success is not just about making money; money is merely a tool. True fulfillment comes from creating pathways, building generational legacy, and maintaining a clear purpose beyond the mundane operational tasks.
Strategic Networking and Growth
Taryell Simmons: What strategies were most pivotal to your success?
Hope Wiseman: Nurturing my network has been vital. Every year, I identify a personal board of directors of five or six individuals with specific resources or skills aligned with my annual goals. Building authentic relationships led to opportunities like premiering our documentary, Kiss My Grass, at The Gathering Spot locations in Atlanta and Los Angeles, as well as securing major corporate sponsorships for Urban Golf Weekend. Success is never achieved alone; collaboration and strategic alignment are essential.
Advice for Aspiring and Legacy Entrepreneurs
Taryell Simmons: What is your advice for young entrepreneurs and legacy operators looking to enter or scale?
Hope Wiseman: First, get educated and master corporate finance, financial statements, and compliance. Consider working in the industry or investing in a small way before seeking full ownership. If you come from an impacted community, know that you belong in this space. For legacy operators, federal legalization will bring corporate scale. To build a lasting brand, focus on protecting intellectual property, trademarking, and exploring brand licensing partnerships with legal operators.
Taryell Simmons: Where can listeners follow your work and connect with you?
Hope Wiseman: You can connect with me on LinkedIn at Hope Wiseman and on Instagram at @HopeSoDope. Join our community at https://legalandlicense.com for resources and monthly Q&A sessions. If you are in the Maryland DMV area, visit our dispensary, Mary and Main, located in Capitol Heights.
Taryell Simmons: Thank you, Hope. Go follow Hope, check out Kiss My Grass, and keep rising.
