Early successes for clients in Massachusetts
Canna Advisors has worked in Massachusetts since the start of the cannabis industry, and we have been active there since 2012. In fact, we helped our clients win some of the first licenses in the state.
Medical marijuana was legalized in Massachusetts in 2012, and there are 50 registered marijuana dispensaries (RMDs) that have been given final approval to open and operate.
The state was slow to implement the adult-use program that was approved in 2016, and the first sales began on November 20, 2018. Those sales marked the first adult-use cannabis sales east of the Mississippi and reached almost $15 million in the first 6 weeks.
Licensing applications for both medical and adult-use are on-going, with no deadlines or limits. Local licensing has begun — our team of cannabis experts — comprised of attorneys, technical writers, and SMEs — can write or provide a detailed review of your application materials.
With many opportunities to enter the market in Massachusetts, the Canna Advisors team of cannabis consultants can help you with local and state applications, recruiting key team members, developing your facility design, and connecting you to important industry resources and funding.
Contact us today to launch or expand your cannabis business in Massachusetts!
Cannabis Business Guidance in Massachusetts
With a growing patient base and little competition, the cannabis market opportunity in Massachusetts is strong. Additionally, pent-up demand on the East Coast and reciprocity with other states is huge and provides a major incentive for business owners to stick through the initial period of uncertainty.
Business operators will need expert advice to guide them through what proves to be a prolonged start-up process that will require heavy funding and sufficient liquidity to sustain the enterprise through the extended phases.
The Canna Advisors team of cannabis consultants can help you navigate the uncertainty and heavy regulations and mitigate the risks.
Market Conditions in Massachusetts
The new cannabis industry environment merges medical and adult use, and also includes industrial hemp. With the newly-formed market comes somewhat volatile policies and heavy business regulations. The market enjoys a growing patient base, a higher-than-average population already consuming cannabis, and little competition.
The offset to the favorable market conditions are risks related to regulatory conditions and delays in implementation. There is a strong possibility for chokeholds and bottlenecks to form, which will create a longer process for starting a cannabis business and drive the need for strong capitalization.
Massachusetts Cannabis Industry Projections
Registered medical marijuana patients (June 2019)
Compounded annual growth rate
Source: "The State of Legal Marijuana Markets" by Arcview Market Research/BDS Analytics, 7th Edition.
A smarter, more strategic approach to Massachusetts licenses
Lean on our proven expertise and unparalleled track record to successfully secure your Massachusetts cannabis license.