An unofficial July 1 target date set by Massachusetts cannabis regulators for the kickoff of recreational sales has come and gone, and it’s still anybody’s guess when the adult-use industry will actually launch.
The Massachusetts Cannabis Control Commission may have awarded the state’s first recreational cultivation license in June and the first rec retail license on Monday, but a slew of challenges beyond licensing still face the state’s marijuana businesses, including:
1. Troubles for the less capitalized
The delay has mostly hurt less experienced, less capitalized businesses in the state, even forcing some to abandon plans and investments, industry observers say.
But more experienced entrepreneurs, particularly medical marijuana businesses that survived the state’s elongated MMJ rollout, have planned accordingly.
“The holding costs can be extremely burdensome, especially if you don’t own the property and have to pay rent,” observed Marc Rosenfeld, CEO of CommCan, a medical cannabis