The rise of marijuana multistate operators has increased concerns that independent cannabis business owners may be driven out of business by organizations that have more money, power, and influence.
Despite the negative way multistate operators are perceived, most take significant risks and work with local as well as state legislators to develop infrastructure and expand cannabis access in the U.S. By understanding the roles of multistate operators, independent businesses can use their work to their advantage.
For instance, they have helped launch legal markets in jurisdictions that may not have been possible. A good example of this is the successful legislative efforts of these operators in Missouri and Florida, made possible by the resources and time of these operators.
Their ability to speak policymaker ‘lingo’ also makes it easier to acquire licenses, launch new facilities, and set up compliant businesses in an infrastructure that makes it easier to succeed. By using the legislative groundwork and infrastructure laid by multistate operators, legacy cannabis operators have better opportunities to expand and grow.
Increasing accessibility to marijuana also grows competition in the industry which in turn drives innovation, resulting in products of higher quality and more options for customers. Competitive environments make it easier for smaller and older brands to partner with larger multistate operators to increase their product availability.
Multistate operators have also played a crucial role in the increased acceptance of marijuana across the country, with their work helping fight disinformation while informing the general public. They also oppose historically negative views that surround cannabis.
This is in addition to advocating for marijuana as a healthier alternative to alcohol through regulatory engagement and educational initiatives, helping dismantle long- established stigmas. Multistate operators have also made significant investments in marijuana R&D, which has helped develop products that maximize benefits while minimizing negative effects.
Research has also helped close knowledge gaps while allowing more individuals to better understand the plant’s different compounds. Furthermore, it has helped address issues that affect consumers and advanced scientific knowledge of this drug. All this helps elevate the marijuana industry, with insights acquired from research promoting an environment that drives innovation and growth.
From the above, we can see that relations between multistate operators and legacy marijuana operators don’t have to be negative. Operating with a united approach to advance the marijuana industry will help ensure that the industry grows while also helping preserve the grassroots values and the space’s cultural heritage.
The cannabis industry in different jurisdictions keeps evolving, and established enterprises like Canopy Growth Corp. (NASDAQ: CGC) (TSX: WEED) operating in more uniform markets can teach legacy operators in the U.S. some helpful lessons on how to adapt to changing market conditions characterized by large corporations having massive resources at their disposal.
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