EXCLUSIVE: Cannabis Companies Must ‘Get More Juice From The Same Squeeze,’ Says Cresco Labs CEO As Challenges Persist
Finding a balance between getting more scale, but still being productive and having high margins in the current landscape in the cannabis industry, is a “daily challenge.” That’s according to Charlie Bachtell, CEO and co-founder of Cresco Labs Inc (OTCQX:CRLBF), a company running over 70 cannabis retail locations nationwide.
It involves continually adapting to new challenges, strategies, and emerging trends across a company’s operations. “You’re constantly trying to forecast where this industry is headed and at the same time, understand the industry that you’re in today,” Bachtell said during a fireside chat with Jesse Redmond, head of cannabis at Water Tower Research LLC, at the Benzinga Cannabis Capital Conference on Wednesday, in Chicago.
He added that running a cannabis business over the past decade depended heavily on how well organizations have been able to speculate about how fast and in what direction the nascent market would go.
The cannabis industry is unique among other “super fast-moving” emerging industries due to challenges to access capital and the impact of 280e on taxation.
“Not only are you fighting this fight …