Massachusetts Cannabis Market
Early successes for clients in Massachusetts
Canna Advisors has worked in Massachusetts since their medical cannabis program was first implemented in 2012, and we have been active there ever since. In fact, we helped our clients win some of the first licenses available in the state.
While Massachusetts was slow to implement the adult-use program that was approved in 2016, the first sales in November 2018 marked the first adult-use cannabis sales east of the Mississippi and reached almost $15 million in the first 6 weeks.
Many opportunities to enter the market in Massachusetts exist today, as licensing applications for both medical and adult-use facilities are on-going and have no deadlines or limits in place.
While the state’s process for reviewing and approving license applications is relatively straight-forward, the process is complicated by the significant amount of work necessary at the local level, which is required prior to submission of a state license. In particular, executing a “host community agreement” has proven to be a remarkably difficult and drawn-out process.
Our team of attorneys, technical writers, and other cannabis subject matter experts is ready and waiting to write or provide a detailed review of your local- and state-level application materials and help you work through local-level hurdles.
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.