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.
The state will soon implement recreational use, with sales expected to start in July 2018. The Massachusetts cannabis industry is also shifting from a vertical-only to horizontal integration.
Dispensaries can begin applying for ‘priority certification’ on April 2, and dispensaries that get priority certification can then apply for a commercial license starting on April 16. Applicants interested in establishing cannabis businesses in communities hurt by the war on drugs are also eligible to apply for priority certification. Recreational applicants who do not have medical licenses are restricted from applying until June 1.
With many opportunities to enter the recreational/adult-use market in Massachusetts, the Canna Advisors team can help you with local and state applications and connect you to important industry resources and funding.
The Opportunity 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 can Help you navigate the uncertainty and heavy regulations and mitigate the risks.
The 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 driving the need for strong capitalization.
The Projections For Massachusetts
Estimated # of in-state customers
Spending nearly doubled from 2015 to 2016
Compounded annual growth rate
A smarter, more strategic approach to state licenses
Lean on our proven expertise and unparalleled track record to successfully secure your cannabis license.