New Cannabis Business Opportunities in the Colorado Market
New opportunities are available for cannabis entrepreneurs and investors in Colorado since Governor Polis signed legislation in 2019 that expands both the medical and adult-use markets. Canna Advisors has consulted with dozens of operations in Colorado and we can show you where your best opportunities lie for entering the market to serve patients and consumers.
We have assisted successful cannabis businesses across the state — from change of ownership or location and transitioning business models to include adult-use, to securing local approval, ensuring operational readiness, and conducting compliance audits. We are actively involved in our home state of Colorado, engaging with ancillary businesses, speaking at and attending local events, working with lawyers and legislators, and meeting our clients to support their cannabis business success.
Contact our expert cannabis consultants today to get started in Colorado.
Cannabis Business Guidance in Colorado
With ample business opportunity available in a competitive and highly-regulated market, making all of the right decisions to set yourself up for success is a daunting task. Our operational expertise and vast network of influencers in our home state will put your cannabis business on the best path. Our team of experts can help identify your best entry point, navigate new regulations, provide specific guidance based on what type of cannabis business you want to start, and begin developing real goals and plans.
Entrepreneurs and investors interested in new cannabis opportunities in Colorado should contact us today for help identifying market opportunities, developing business plans, financial modeling, new license procurement, start up, compliance, and operational readiness.
Canna Advisors' Founding Partners were some of the first operators in Colorado before there were formal state regulations in place. They held the first license in Boulder and the seventh license in Colorado to operate a cultivation facility and a medical marijuana dispensary. Diane and Jay helped the state and its cannabis entrepreneurs create and manage the groundbreaking legislation for Amendment 64, and continue driving the state's cannabis industry forward today by guiding entrepreneurs, investing in local companies, and advocating for further reform.
Market Conditions in Colorado
New developments in Colorado’s robust cannabis markets have led to plenty of new entry points to serve patients and consumers. Several cannabis bills were signed into law in 2019 that keep Colorado on the forefront of the constantly-evolving industry, and these bills allow for more diversity, social equity, innovation, and creativity in the state’s mature marketplace.
Marijuana Hospitality Establishments
Part of this new legislation creates licensing for ‘marijuana hospitality establishments’ to provide consumers with a place for legal social consumption. According to Arcview market research*, one out of three marijuana purchases in Colorado is made by a tourist, and these new businesses will give customers legal options for cannabis consumption. This legislation also enables dispensaries to set up tasting rooms -- similar to what breweries have -- where customers can try a dispensary’s cannabis products before buying them. These licenses differ from the hospitality establishment licenses because they cannot be mobile; consumption must be on-site with products that the store sells.
Licensing for the delivery of medical and retail marijuana to private residences is now allowed, which gives more patients and consumers, especially the elderly and disabled, easier access to this healing plant. The state will begin issuing medical marijuana delivery permits on January 2, 2020 and all other delivery and transporter licenses on January 2, 2021.
Cannabis Business Investing
New ownership concepts are in place that enable cannabis businesses in the state to get investment capital from publicly traded companies and/or out-of-state investors. These investors are allowed to be controlling beneficial owners but are held to strict standards of disclosure, notice, and suitability. This is a huge source of capital for entrepreneurs wanting to establish or expand their business and this legislation makes raising money -- which can be a big challenge in this industry -- much easier.
New MMJ Qualifying Conditions
Autism was added to the state’s medical marijuana program as a qualifying condition in 2019, and patients who have or could receive a prescription for opioids are now allowed access to medical marijuana as an alternative to manage severe or chronic pain.
Stay up-to-date on cannabis in Colorado
The cannabis industry is changing rapidly. The cannabis consultants at Canna Advisors can help optimize and grow your cannabis business. For the latest news and events in the industry, visit our Blog and News and Events pages, and have a look at some of the following top articles on cannabis in Colorado.
Cannabis Projections for Colorado
Cannabis Consumption Rate
Compounded annual growth rate (Adult-Use)
*Source: "The State of Legal Marijuana Markets" by Arcview Market Research / BDS Analytics, 7th Edition.
A smarter, more strategic approach to Colorado cannabis business operations
Lean on our proven expertise and unparalleled track record to set your Colorado cannabis business up for success.