Multi-State Operators: The Future of the Industry

As the legal cannabis market is shaped, it must be open to transitions in order to improve. One of the recent shifts the industry has seen is the movement from small scale businesses to an industry increasingly populated by large multi-state operators. While the legal cannabis sphere is welcoming to small businesses, these large-scale players have had a profound impact on the industry. 

 

These operators, soon to include Jushi Holdings Inc. (“Jushi”), have seen success in obtaining licenses and streamlining procedures. This movement toward large scale multi-state operators allows for the facilitation of growth and efficiency in the industry - Jushi is very excited to be part of the industry shift. 

 

Since these businesses are set up in multiple states, they can transcend borders without crossing state lines. Jushi strives to ensure quality control by creating safety standards and guidelines for their businesses nationwide. This helps Jushi balance pre-existing standards while simultaneously optimizing and tailoring its approaches to meet each respective states’ laws, rules, and regulations. Jushi prides itself in its goal to create safer products for its consumer base – wherever they may be.

 

Multi-state operators face unique challenges navigating diverse business environments. In a sense, we are test subjects to this industry. We are maneuvering regulations set up by various state markets. However, this has allowed us to set clear goals for ourselves, become more established, and develop effective and efficient procedures. It further offers us the ability to fine tune strengths and create consistency across the industry as we expand.

 

Since multi-state operators hold assets in various locations, companies and markets alike serve to benefit. From the cost of applications to opening the business itself, expansion can be expensive - some applications alone cost thousands of dollars.

 

Large operators are further able to offset costs and burdens of starting their businesses from the standpoint of overhead expenses. By becoming a multi-state operator, we at Jushi expect to share in these benefits. Jushi has streamlined processes, in part, to alleviate overhead expenses associated with accounting, legal, rent, insurance, and more because we are able to delegate these tasks to experienced professionals that effectively execute our mission.

 

More multi-state operators is a natural part of the cannabis industry growing and solidifying its place in the business world. As the cannabis industry continues to expand, Jushi predicts that more businesses will try to enter as multi-state operators. At Jushi, we want to be the principal multi-state operator for CBD and cannabis products while helping consumers and patients alike achieve and maintain their individual goals such as wellness. We believe that we have what it takes to take the lead, to create standards, and to shape the industry. We are keeping watch for the potential of legalization of cannabis nationwide as this will change the market’s complexity. With our experience and dedication, we plan to be at the forefront.

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Patrick Libonate AUTHOR