Green Market Report’s Post

I'm currently inputting the recent license approvals and denials into my database to post more insights soon, along with an analysis of the new advertising and packaging regulation amendments. In the meantime, check this out: The recent closure of Blunts and Moore, the first social equity dispensary in the U.S., underscores the challenges facing cannabis entrepreneurs. Despite being a trailblazer in Oakland's social equity program, the dispensary's shutdown due to a lease issue highlights the harsh realities of the industry. Tucky Blunt, the co-owner, views this as a pivot rather than an end, with plans for a delivery business and events. This serves as a crucial reminder for New York's cannabis entrepreneurs about the unpredictable nature of the market and the importance of resilience and adaptability. #CannabisIndustry #SocialEquity #NYCannabis

We were thrilled to be on hand and watch one of our clients, Bliss+Lex, become Manhattan’s first black-woman-owned cannabis dispensary and Conditional Adult-Use Retail Dispensary (CAURD) licensee. As our Aleece Burgio shares, their barriers to entry have been high -- but they never stopped working toward their goal. In many ways, their journey is an example of how NY state has gotten this program right. https://lnkd.in/e2xeiq2x #cannabislaw #decriminalization #nycannabis

Thinking of starting a cannabis #dispensary in 2024? Here is how you can go from fear and uncertainty to having a dispensary that is ready to explode in growth.

The clock is ticking... Illinois' cannabis social equity program faces a crisis as half of licensed retailers struggle to open shop. With 96 licensees at risk of losing permits, the state's celebration of its 100th social equity dispensary rings hollow. Zoning issues, investor concerns, and legal battles have plagued the rollout, forcing some to sell their licenses to large multi-state operators. Is this truly creating an accessible industry for all? From shipping containers to Main Street: Illinois' cannabis social equity program reveals a tale of two realities. While some retailers flourish, others face license expiration and financial ruin. Zoning restrictions and lack of suitable real estate plague minority communities, creating "cannabis deserts" in rural areas. As large operators dominate, can small businesses still carve out their niche in this budding industry? Only time will tell. For more exciting news like this, BECOME A GRAZZHOPPER TODAY by clicking the link in our bio to receive your COMPLIMENTARY SUBSCRIPTION! #cannabis #illinois #illinoiscannabis #socialequity #cannabiscrisis #cannabisretailers #cannabisstruggles #cannabisequity #socialprograms #cannabisinclusion

Dope piece in NY Cannabis Insider featuring Marino. client #TheGreenerySpot, which opened back in summer 2023. In this piece, Sean Teehan checks in with Chris Myers - "How are things going at #JohnsonCity #cannabis #dispensary The Greenery Spot?". Here is an excerpt from the Q&A: "Are you worried about competing with adult-use dispensaries owned by ROs? No, I just need to make sure I come to play. Make friends along the way rather than enemies. Can you tell us about your long-term plans for your store? Expand, expand, expand. Man, I applied for a general license so I could open more but I wasn’t approved. Hopefully, they allow two more locations with CAURD license sooner rather than later. Can you describe how you’re hiring and training employees? I’m not experiencing the high turnover rate for dispensary employees. I currently still have all my day-one employees. What advice would you give to other entrepreneurs planning on opening dispensaries? Do ALL your homework and investigate every aspect of the business such as banking regulations, POS systems, security, display cases and fabrications, insurance, cannabis attorneys and accountant, state compliance and guidance, and HR/payroll." #cannabiscommunity #MarinoCannabis

Private Equity rules everything around me, PEREAM, $$ bill y'all. If you are one of 11 DASNY dispensary participants, and are financially struggling from 15% interest rates for $1M+ buildout costs, you have Great Atlantic and DASNY to thank. When Great Atlantic is projecting $30m in annual revenue for an average dispensary and NYC projects $8m, and the reality is far different. Thank you Rosalind Adams and New York State Office of Cannabis Management for bringing light to this: "[O]nly 20 to 30 stores nationally pull in $30 million in annual sales. Smacked, the first fund-supported dispensary, was on track to make $5 million in 2023, and two other fund-supported dispensaries, Dazed, in Manhattan, and William Jane, in Ithaca, were on track for less than $5 million in sales." Please please do not borrow more than $0.5m for any cannabis dispensary venture -- that's around the maximum sustainable debt level for this industry now.

"C3 Industries’ first Connecticut adult-use cannabis storefront, High Profile Canton, opened at 195 Albany Turnpike. The new dispensary is Canton’s first and one of several planned for C3 Industries; it plans to open another dispensary in Hamden." Check out this article from Hartford Business Journal about C3 Industries expansion into Connecticut and our Canton location's grand opening event during Labor Day weekend. #c3industries #cannabisindustry #cannabisculture #cannabiscommunity #cannabissociety"

In recent years, I have taken it on the chin repeatedly for my opposition to the Equity Joint Venture business model. My position on EJVs has been fully consistent throughout: they are essentially a mechanism for incumbent licensees to expand their footprint in the market at a reduced cost by exploiting short-term #tokenism. Once again, the passage of time has proven my point. What follows is an excerpt from the public testimony of Carl Tirella on #HB5150 from February 22, 2024. Mr. Tirella is a former executive with multi-state operator Acreage Holdings, owners of The Botanist chain of dispensaries in Connecticut. Read on as he says the quiet part out loud: "Budr also would like to speak to an issue not in the bill which we respectfully request the committee consider. As an Equity Joint Venture, we believe our social equity applicants are disadvantaged by being held to a seven-year moratorium on ownership transfers. Seven years is a long time in any industry, and we fear this timeframe could disincentivize certain social equity applicants who may prefer to be party to a change of ownership earlier in the process." Source: https://lnkd.in/e79y_b7r Does this sound like someone who is authentically invested in helping those disproportionately impacted by the war on drugs build generational wealth? He's arguing in favor of reducing the buyout period from 7 years to 3. He wants to reclaim full #ownership of the business more than twice as fast. And Ben Zachs of Fine Fettle was right up there with him, advocating for the same change. These people are not your friends. You are a means to an end for them.

🌿✨ Dreaming of starting your own business in the booming cannabis industry? The opportunity is here! 🚀 Owning your own cannabis dispensary might just be the venture you've been waiting for. Dive into a world where wellness meets entrepreneurship. 🌱 From understanding the intricacies of cannabis licensing to mastering the regulations, we guide you every step of the way. Whether you're passionate about the healing aspects of cannabis or excited by the business opportunities, now is the perfect time to step into this rapidly growing field. 📈 Join a community of pioneers and leverage our expertise to lay a solid foundation for your business. Ask us how to get started! 💬 Dm Me If Interested #CannabisBusiness #EntrepreneurLife #CannabisCommunity #BeYourOwnBoss #CannabisLicensing