A massive, state-sanctioned cannabis retailer is coming to Times Square this fall! 🌿 James Mallios, a hospitality and real estate attorney, and U.S. Army veteran William Norgard, who won a lawsuit challenging NY's cannabis shop eligibility requirements, are teaming up to open a three-story cannabis retail experience at 719 Seventh Ave (30 Times Square). “We’re excited to, in the fall, unveil what is possibly the largest retail cannabis store on the eastern seaboard, in the middle of arguably one of the most visited places on the planet,” said Mallios. #cannabisnews #NYC #cannabisindustry
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I help Cannabis and Psychedelic companies reach key decision-makers and investors at scale—through Highly Capitalized Network + LinkedIn.
Is this the ''#light at the end of the tunnel'' for New York's #battered & beleaguered legal Cannabis license holders? Will #NY Governor Hochul's latest move close down the thousands of #illicit Cannabis stores that you see literally everywhere in Manhattan? The #cops think so. '''It’s not just the cost of doing business anymore. They’re going to feel this,”” —said Sheriff Anthony Miranda in The New York Times article below. Previously, #unlicensed Cannabis shops could quickly #reopen after being closed, as authorities needed court orders for #permanent closure. Now, the Sheriff’s Office can shut them down for up to a year immediately by declaring them a public #threat—cutting off their income. While some shops evade detection or switch to #delivery, many have ceased operations. Between May 7 and June 3, the city closed 329 shops, seized $10.4 million in products, and issued $23.4 million in fines. However, this action by the cops, has little to no affect on #supply. Potentially many of the 329 #illicit-dispesnary employees & customers are absorbed by the remaining 2571 #stores. Indeed, there are only 62 legally #licensed stores. An illicit market thrives when the legitimate market does not provide for the #consumerdemand. And there's definitely consumer demand for Cannabis in New York. Even with a #limited launch, New York is still expected to be the biggest new legal market. #BDSA predict New York will soon see >$1 billion in taxable sales p.a. Read on in this article below from the NYT—and how #critics claim this approach infringes on constitutional rights by preemptively shutting businesses before a court ruling. #Cannabis
For Rogue Smoke Shops in New York, the ‘Party’s Over’
https://www.nytimes.com
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New Jersey Cannabis - recent rule changes now allow for owners to expand from only one retail store to a multi retail store network with equity and other financial ties. Financial agremeents will be subject to state approval, but now an owner of a retail license can be a lender with ownership of up to 35% equity and provide IP for a fee to up to 7 additional retail licensees. The limitation is that the 7 additional stores must be 51% social equity, women owned, or minority owned retail stores. This change incentivizes investment into social equity from owners with funds and operational capacity to expand. This is a good change IMO. I’ve been a part of winning more than 22 retail licenses in NJ for clients. Many are not “seeking” investment, but could be open to deals if the right fit came along. Two separate groups have 7 stores each that qualify for lender ownership based on the new equity ownership rules. Anyone with an active cultivation license should grab a few retail stores to have solid sell through and vertically integrate quickly to grab market share. I could see this leading to some good deal flow to consolidate assets.
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On Jan. 1, the Ontario government updated its rule regarding single-store ownership, increasing the cap from 75 to 150 outlets per chain. How does this affect Independent cannabis stores? More in my article from the Toronto Observer below https://lnkd.in/edgUcBHD
Independent Cannabis retailers face pressure after recent changes to store ownership laws
torontoobserver.ca
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With only 36 licensed retailers for a population of over 9 million in New Jersey, demand is soaring. In Q1 2023, each retailer generated $5 million in sales, a staggering figure compared to other markets. As licenses expand, the window for a competitive edge is closing. In NJ, "wait time" is a top factor for choosing a dispensary. Understanding and addressing this challenge is key for sustained growth. Explore the innovation opportunity of New Jersey's wait times in our latest blog: https://hubs.la/Q023kCvK0
New Jersey's Wait Time Challenge: State-by-State Insights for Brand Success
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Check out this article in Cardinal News addressing pop-up shops and the illegal gifting and sharing of cannabis in Virginia – https://lnkd.in/gNA72iez. For more information on these topics, explore CCA resources at cca.virginia.gov/resources.
Cannabis-related stores are popping up across Virginia amid confusion over the state’s marijuana laws
http://cardinalnews.org
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Los Angeles made the same threats and then gave up just like LA gave up on cannabis all together. So many illegal shops in LA now than there were a year ago. "Big Apple landlords who rent store space to illegal weed or tobacco sellers can now be slapped with $10,000 fines under a new law that aims to crack down on the surge of unlicensed smoke shops popping up across the city. The law, which is now in effect, will see owners of commercial spaces fined under a two-strike system if they are busted knowingly leasing space to unlicensed sellers, the City Council announced Monday. Councilwoman Lynn Schulman, who spearheaded the legislation, said the new law would be a “game-changer in shutting down illegal cannabis shops that are proliferating in New York City and threatening our communities.” “Until now, measures at the state and local levels have targeted the actual businesses. My legislation targets the commercial landlords who knowingly rent to these illegal operations. “The fines are steep and will send a message to landlords that will make them either begin eviction proceedings against current tenants, or provide a chilling effect to keep them from renting to them at all.” - New York Post
NYC landlords can now be fined $10K per raid for renting space to illegal weed sellers
nypost.com
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This location has been plagued with problems since day 1. People havee been robbed, smoking in cars in front of homes, security did nothing for the neighbors. Unfortunately for them, this was bound to happen at this location with or without rent price issues. They should be opening shops, not closing them. "Prominent #brand Cookies’ #retail #marijuana store in #LosAngeles plans to close Nov. 7, co-founder and #cannabisentrepreneur #Berner has announced on social media. The closure would be at least the second to affect a Cookies-branded outlet in 2023. A separately owned and managed location in #OklahomaCity closed this spring. California-based Cookies licenses its familiar light-blue branding and proprietary, highly recognizable marijuana strains to separate businesses that hold state licenses around the U.S. and handle day-to-day operations under a #franchise model. But the situation in west Los Angeles – where Cookies Melrose’s #landlord is asking for a hefty #rent increase, according to people familiar with the situation as well as a publicly available real estate listing – underscores how even the sector’s biggest names are not immune to the cannabis industry’s wider struggles. In a recent Instagram post, Berner said he “dreaded this day and having to make this announcement.” “This one hurts,” according to the post by the San Francisco Bay Area-based entrepreneur, whose given name is Gilbert Milam Jr. #Cookies “tried our hardest but we haven’t been able to come to terms with our landlord,” Berner continued, adding that a search for a new location is ongoing but might take some time. “I want to thank my partners at melrose for this opportunity and for fighting so hard to try and keep it.” In a follow-up post two days later, a Cookies corporate account said the store was “relocating,” with a new address and opening date to be announced “coming soon.” Business records list Berner as a Cookies director. Parker Berling is the organization’s CEO and president, records show. Cookies Melrose is operated by a California company called Purple Heart Compassion, according to records from the state’s Department of Cannabis Control. That company’s principals are Arman Arakelyan and Steve Pineda, California secretary of state business records show. Arkelyan and Pineda did not respond to an #MJBizDaily email sent to an address listed in state records." - MJBiz
Cookies says L.A. marijuana store will close amid landlord spat
https://mjbizdaily.com
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Revenue focused creative strategist and designer who turns ideas into products and experiences. Magazine editor. Agency owner. Tastemaker.. Sensi powered by Hearst. Case Study, Labs.
I’ve been observing the ongoing push from many respected colleagues and lobbying organizations to shut down illegal stores in New York as a solution to our industry’s challenges. While increased enforcement might offer a short-term revenue boost, it’s not the sustainable fix we need. The real issue isn’t just the presence of the unlicensed stores it’s the quality and consistency of products on licensed dispensary shelves. Consumers have relied on the traditional market for years, not just because it’s available, but because it often provides what they want at a quality they trust. To truly compete and win over these consumers, we need to ensure our legal products meet or exceed these standards. I have full confidence in New York’s ability to focus on elevating product quality and customer experience to make the legal market the obvious choice for all consumers. This is the ONLY path to long-term success and a thriving, reputable industry. I know I’m not alone. I speak with between 20 to 30 New York license holders or investors every week. There is more than one dispensary owner, who will NOT smoke flower from the shelf. Full disclosure: I used AI to help me convey this message respectfully because I respect everyone reading this and everyone involved. I know that many of our trade groups have been supporting this legislation and I don’t want to come across as attacking. My intention is growth and progress. I’ve been in the industry for long, I’ve observed a few things. I’m not claiming to be smarter—I simply think I have “realistic enough” understanding based on logical analysis, not agendas. #leadership #cannabis #cannabisindustry #newyorkstate #nyc
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We have a few more windows left y'all. Does your brand have $250 in marketing dollars to be directly in front of your audience during the biggest week for Cannabis in Vegas? Let's talk this week!
Right now, Sydney Price is making special deals on these side windows y’all. Imagine your brand rolling from CA to Vegas, then up and down the strip during Cannabis Week. Just saying, you’ve got a few more days to get in.
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Do you think Green Thumb Industries (GTI) could operate in a competitive market like California with the same success? I know they can’t. And eventually interstate DTC is gonna eat Ben’s breakfast, lunch, and dinner. I’m still waiting for someone, anyone, to present a scenario where the bulk of cannabis is NOT grown where it’s better suited, just like every other ag product, and that’s California. I hate to admit it, but the glasshouses of the west can send deps better than GTI’s ins at 1/4 the cost. Even with a fat tax it’ll still be a superior product at a lower cost. How does corporate mids survive once their poorly crafted moats dry up?
I’d call this Cannabis Spaghetti Western, “How the Midwest Was Won” MSO week has been building to the company that: — Produces cash — Keeps growing despite headwinds — Has the best balance of retail and wholesale Yes folks, it’s Green Thumb Industries (GTI), led by the fearless Ben Brovler! ~~ BALANCE SHEET HITS (Q2 2023) ~~ Revenue - $252M (+2% QoQ) ✅ Adjusted EBITDA - $76M (30% of rev) ✅ GAAP net income - $13M Cash - $149M (+2.7%) ✅ Taxes paid - $52M ✅ Debt - $289.9 There’s no denying they run a good business and they’re paying their taxes. ~~ RETAIL ~~ Revenue - Unclear but decreased 2% YoY 84 stores across 8 states ✅ — Jewels include RI, MN, PA, VA, OH 6 new stores in Q2 ✅ — They're looking particularly strong in MN Festival — Their upcoming music festival feat. Cypress Hill will probably be a monster sales day and shows they’re thinking outside the box — A reminder that GTI is the dominant Chicago MSO, which is also home to Cresco Labs, Verano and PharmaCann Inc Circle K 🚩 — The timing of this half-baked announcement that they were partnering with a convenience store was…ahem….convenient ~~ Wholesale ~~ Wholesale increased 13% YoY ✅ Unlike pretty much every other MSO, GTI has brands people choose ✅ Rythm is the #2 top-selling brand in the country ✅ Incredibles is everywhere Dogwalkers is cute and in demand Investment/partnerships w/ Cann—whether that works or not—shows they’re thinking the right way about brands For me, it’s GTI, not Cresco, that’s the leader in wholesale nationally. ~~ Leadership ~~ I’m just going to say it… While being a competent leader, Ben Kovler is a bro. He’s got his own scandals and rumors (which I’m not going to comment on) 🚩 And subsequently lost a few board members 🚩 But, he’s undeniably: — charismatic — bullish on cannabis — built a business that cash flows in this environment Ultimately, GTI is safe in his hands… …If he keeps out of trouble. ~~ Final Thoughts ~~ Cash ✅ Profitable ✅ Good states ✅ Good brands ✅ But… Questions about leadership 🚩 The strategy is a bit timid for me 🤷♂️ Remember Nathan Rothschild's famous adage, "Buy when there’s blood in the streets"? Well, the streets are soaked right now. If GTI is the 800lb gorilla vying for the top spot, they should be on an M&A spree. Seize this moment of chaos when your stock is undervalued and be more bullish. -- Am I wrong? What do you think? #cannabis #MSO #gti
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Worker at Afikim
1moNow only if the Nation Of Israel will follow as well and be a Light unto the Nations! עכשיו רק אם גם עם ישראל יבוא אחריו ויהיה אור לאומות! 🙌