Canna Advisors has trusted & proven experience in the California cannabis market
Similar to Colorado, California has had cannabis businesses in operation before there was a state regulated program. Now, those businesses are going through the local licensing process in order to become licensed by the state in 2018.
Canna Advisors has several team members who were business owners/operators that were open before state regulation. We have all gone through the process of adapting the businesses for a state regulated system and were able to be some of the first state-licensed businesses in the state.
Canna Advisors has worked with a number of clients in California to obtain appropriate cannabis licensure. One of our clients was in an area that limited the number of licenses to four. Our client’s application was the top-ranked application and was used as the scoring rubric for all other applications.
We can also help new businesses go through the application process to become the first licensed cannabis operators in the state.
The Opportunity in California
With the market changes that are effective in January 2018, the opportunity in the California market is one of the strongest in the U.S, with enormous business opportunities on both the medical and adult-use side. Early investors have a big advantage, as California is poised to reclaim its title as Cannabis capital of the world, which it lost when Washington and Colorado legalized adult use.
The California market is all about scale and growth, with no licensing limits on retail stores and cultivators, except on the local level. Entrepreneurs who make early moves will have a strong competitive advantage, but will also face some degree of regulatory uncertainty that could cause delays in becoming operational. In this case, investors risk running out of funding before they open their doors.
Competing in the newly-regulated and hyper-competitive state requires a well-informed, well-funded, and well-calculated strategy. Working with Canna Advisors now can help you make the most of the changing California marketplace.
The Conditions in California
California is a big market with a lot of competition and an active local licensing process going on now.
To put the industry scale into perspective, consider that California’s GDP is higher than all but 4 countries in the world, and that cannabis consumption rates in many cities are substantially higher than the national average. The scale and positive conditions for cannabis growth is further driven by strong political support, overall, and the fact that cannabis has been medically legal there for more than 20 years.
The business environment is challenging with both the implementation of regulation and adult-use licensing at same time. The regulatory structure is one of most complex regulatory structures in the U.S., with 58 counties and almost 500 incorporated cities than can establish their own cannabis rules. On top of municipal regulations and requirements, the state-level regulations are managed by 6 state regulatory bodies overseeing 19 license categories.
Savvy business owners and entrepreneurs will not make the mistake of waiting until the last minute to adapt. It could mean the difference between getting the license and closing your doors.
The Projections For California
Compounded annual growth rate:
Source: "The State of Legal Marijuana Markets" by Arcview Market Research/ BDS Analytics, 6th Edition.
The Canna Advisors team can prepare you to take advantage of business opportunities and guide you through a daunting series of strategic choices ahead.
A smarter, more strategic approach to state cannabis licenses
Lean on our proven expertise and unparalleled track record to successfully secure your cannabis license.