The Business of Cannabis

New Jersey’s recently adopted adult-use cannabis legislation brings with it many exciting business opportunities. There is now a need for passionate, capable and knowledgeable operators in all areas of the cannabis industry. Working in this market comes with unique considerations and challenges, but it is accessible for those in other industries who see an opportunity to cross over into a growing field.

GROWTH OPPORTUNITIES

Federal and state regulations can make selling and marketing cannabis products a challenge. For example, each state has its own restrictions on cannabis marketing. This means that companies who hope to sell in multiple states need experts who are knowledgeable of state-specific regulations and can, in turn, create targeted campaigns for their product line. Jennifer Drake, Co-Chief Operating Officer at Ayr Wellness, believes that, “these regulations force companies to use the strength of the product to sell itself, reinforcing the idea that ‘everything starts with the plant.’”

Though there are industry-specific considerations for those who are pursuing this evolving sector, the cannabis industry is still primarily a business. And as the New Jersey market expands, so do the opportunities. Dasheeda Dawson, the Cannabis Program Supervisor of the City of Portland, says, “Many cannabis companies will need professionals experienced in supply chain management, compliance, social equity, and business development.” Indeed, there are numerous positions and skills that will emerge as the field takes hold. Mackie Barch, co-founder and Chief Cannabis Officer of CULTA, sees the opportunities, “if someone is professional, positive, teachable, and expresses strong interest, they will find a place in the New Jersey cannabis industry.”

THE BUSINESS OF CANNABIS IN NEW JERSEY

Our May webinar, "The Business of Cannabis: Opportunities for the Garden State," hosted in partnership with the Rohrer College of Business Graduate Programs and the Rowan University Institute for Cannabis Research, Policy & Workforce Development was recorded and is now available here.

We explore topics ranging from cannabis-specific financial considerations, opportunities for cultivation in New Jersey, and examples of how cannabis companies can incorporate social equity into their business strategies.


Rowan Global Learning & Partnerships teams up with the Rohrer College of Business on other webinars throughout the year. Previously recorded webinars are available here.

To view all of our upcoming webinars, click here.


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