As the legalization of both medical and recreational use of cannabis continues to sweep across the United States, more cannabis businesses are looking to expand into new markets. But owners and operators often try to do so at an unrealistic and risky pace. Rules and regulations vary from state to state, so it’s important to set yourself up for success by becoming well-versed in each state and region’s distinct regulatory landscape and make market-specific adjustments. It’s necessary to implement policies to satisfy safety and compliance requirements, avoid potential pitfalls, and build a strong foundation for long-term operations, sustainability and growth.
Unlike cannabis cultivation and production, excelling as a multi-state operator is far from an exact science, but here are four key guidelines that companies can be mindful of as they prepare to make that transition:
We as a licensed cannabis industry have come a long way in a short time, and multi-state operators have become more common than ever before. It’s a risky venture, but if expansion is done carefully and meticulously, the benefits are great, both on a tangible and intangible level. When a variety of brands are recognized across the country, cannabis consumers from coast to coast can be united via their brand preferences and experiences, further legitimizing and elevating our industry.
Erik Knutson is Co-Founder and Chief Executive Officer of Keef Brands and Director of SeroVita Holding Corp. Knutson has a decade of experience operating a wide variety of enterprises within the legal cannabis markets. He co-founded Keef Brands in 2010 in Boulder, CO, as one of the first companies to infuse soda with cannabis. The company has since expanded and is a pioneering developer, producer, and distributor of award-winning cannabis-infused beverages, edibles, oils, and more available at over 800 retail locations across the U.S., including California, Colorado, Arizona, Michigan and Nevada, as well as in Puerto Rico and Jamaica. In addition, Knutson holds several leadership positions in the industry, serving as Co-Founder and President of the American Trade Association for Cannabis and Hemp (ATACH), founding board member of the Cannabis Trade Federation (CTF) and co-founder of the Denver Packaging Company (DPAC).
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
New Mexico recreational-use cannabis companies, for the first time, are required to file their gross receipts and cannabis excise taxes in one week. It’s unclear exactly how much the state is set to collect, but cannabis regulators reported more than $20 million in recreational-use sales for the month of April. Since an announcement from the…
PROVIDENCE, R.I. (AP) — Rhode Island lawmakers unveiled changes Tuesday to a bill to legalize and regulate recreational marijuana, revisions that aim to ensure the legislation passes the state’s General Assembly. The amended bill was released Tuesday in advance of committee votes scheduled for Wednesday. Both the House and Senate are expected to vote next…
PRESS RELEASE By renovating former banks and drive-thru restaurants, dispensaries will be drive-thru ready CHICAGO, IL (MAY 17, 2022) – Cannabis Facility Construction (CFC), a national, full-service, cannabis design-build construction firm, is pleased to complete construction on a new Country Grown Cannabis medical dispensary for Harvest Care Medical in West Virginia. CFC is currently working on…
PRESS RELEASE Californians 21+ will now be able to combine Leafly’s unparalleled strain database to browse, shop, and get cannabis delivered right to their door via the Leafly website and app. SEATTLE–(BUSINESS WIRE)– Leafly (NASDAQ: LFLY), a leading cannabis discovery marketplace and resource, today announced that shoppers visiting Leafly can now place orders for delivery…