NEW BRUNSWICK, N.J., April 14, 2021 /PRNewswire/ -- The cannabis industry has long been awaiting New Jersey to open up its adult use program. And finally, on February 22, 2021, eleven years since its medical cannabis program opened, New Jersey has finally opened the floodgates of adult use. And, according to The New York Times, the adult-use market is expected to generate a whopping $126 million per year in profits.
In a refreshing move, the State has established a diverse regulatory body, the New Jersey Cannabis Regulatory Commission. Its 5 members bring unique perspectives and oversight in an effort to ensure inclusivity in the industry. The official first meeting held by the CRC occurred on Monday, April 12th, where the Commission made note that it has a mere 6 months to develop its robust regulatory program and get adult-use sales up and running.
So for those interested in entering the market, what now? What can you do to position yourself to be a competitive applicant for a license? Consider the adage, "Slow is smooth; smooth is fast." Take the time to build a foundation and establish your goals. Consider what licenses to pursue to meet those goals. We believe strongly in utilizing expert guidance to first strategize how to best position yourself in the market, identify your weaknesses, and amplify your strengths. Once you do this, you can begin tackling items that can help you stand out from the competition.
Those who fully prepare in advance of an application round opening are far better positioned than those who stumble into an application process too quickly or drag their feet and miss the window. Dedicate the time now to get prepared in advance of the application round and you will be far better off than those who do not.
Canna Business Services is a cannabis consulting company that offers unparalleled market expertise and regulatory compliance. We provide the highest level of certainty in an uncertain and high-risk market by serving as specialized industry guides, revealing networks of high value connections and opportunities, and delivering future-proof solutions. If you want expertise, mastery, and certainty in the cannabis industry, you want Canna Business Services on your side. Call us now at 888.453.0555 or visit us at www.cannabusinessservices.com - we can't wait to hear from you!
SOURCE Canna Business Services