Why some cannabis license holders don’t succeed?
Recently, the Arkansas Medical Marijuana Commission voted to reject the sale of two medical marijuana dispensary licenses. This decision by the Arkansas Medical Marijuana Commission seemed to send a clear signal to licensee holders within the “Natural State”, on how they’d like to see the licensees used.
From what we gather, it seems that these license holders weren’t making significant progress towards opening their doors for business.
Which is interesting because people tend to think that the cannabis industry is the equivalent of the modern-day California “gold-rush.”
How is your regional cannabis market?
The cannabis industry, in reality, is truly a “regional-marketplace” governed by the supply and demand mechanics that exist within a state’s borders.
While Arkansas seems to struggle with its marijuana licensee holders opening it’s doors, the Oklahoma industry doesn’t seem to have this concern.
Why isn’t the Arkansas rollout as “successfully” as Oklahoma’s?
Some of the difficulties of Arkansas’s license-holders can’t all be associated with this area’s regulatory body but can be linked to the business owners' ability to execute.
Some of the reasons dispensary owners have sited as the reason for preventing them from opening range from complications with real estate title issues to troubles abiding with zoning laws.
These setbacks have significant consequences both from the perspective of the licensee holders, and 34k patients with medical marijuana IDs, and their ability to find care.
It’s essential to seek the appropriate and develop the “fully-fleshed out” business plan to address and plan for a successful grand opening.
Contact one of our Cannabis Culture CPAs for more information.