When Starting a Cannabis Business, What is Critical to Long Term Success?

When Starting a Cannabis Business, What is Critical to Long Term Success?

When people are starting a cannabis business, whether that be as a grower, manufacturer or retailer they typically are able to cover all the basics. These might include, the people, the equipment, branding, products, a business plan, etc. Your business plan includes a lot of assumptions. At the outset, you can’t know how they will work out.

A big flaw is to look at the short term or out a year or two. Especially for a newly legalized adult use market, whether it has started yet or not, most people have no idea what product demand will be or what prices will be. This is a problem because you need to generate good profits early on to recover a lot of your costs before prices begin to decline squeezing margins. I have been very successful in forecasting both cannabis demand and cannabis prices. In fact, I have figured out the magic formula to predict when wholesale cannabis prices will peak, when retail cannabis prices will peak and when manufacturer’s cannabis prices will come under pressure. Knowing this allows you to perfect your processes to be most efficient, use the most efficient equipment and be ready when things get tough.

I can provide these forecasts as part of the Cannabis Business Consulting I perform. I have worked with cannabis growers, cannabis manufacturers and cannabis retailers/dispensaries.

Bryan B Mason
Apollo Consulting Group, Newport, RI

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