The Road To Legal Cannabis: Unpacking Three Pillars For Success
At the recent Benzinga Cannabis Market Spotlight, the panel “Converting the Illicit Market to Legal Channels in New Jersey” took a deep dive into the complex transition from illicit cannabis operations to regulated market structures. Moderated by Chirali Patel, managing partner at Blaze Law Firm LLC, the discussion featured Jennifer Cabrera, partner at Vicente LLP, Suzan Nickelson, founder & CEO of Holistic Solutions and Dr. Chanda Macias, CEO and chair of Women Grow.
In this article, we offer some insights shared by these longstanding cannabis industry referents, that you might find useful if you are making your way in the cannabis industry.
Transitioning To A Regulated Market
Dr. Macias opened the discussion with a reflection on the challenges faced by operators moving from the illicit to the legal market. “It’s a hard conversion; you will lose a lot of money.”
Despite the financial hardships, she emphasized that the move is motivated by core values and a long-term vision for sustainability in the industry.
“It goes down to your core values and sustainability. If you are willing to do what you have to do for your customers and want to stay in the business long term,” she said.
Strategies For Legacy …