“This is incredibly hard,” said Tahir Johnson, CEO of Simply Pure Trenton, at the recent Benzinga Cannabis Capital Conference in Chicago.
These words encapsulated the journey of individuals who strived to succeed in the cannabis industry, a sector filled with challenges and opportunities for growth, social equity and community engagement.
See Also: Social Equity Stories In Cannabis: Advocates Discuss Inclusion As Legislative Changes Loom
Balancing Challenges and Triumphs
Ernest Toney, founder of BIPOCann, kickstarted the conversation, shedding light on the hurdles they had faced while trying to break into the cannabis market.
Annu Khot, founder of Sociale Dispensary, painted a vivid picture of the obstacles faced in Illinois, a testament to the multifaceted challenges emerging entrepreneurs must navigate. “The barriers to entry are really high. Even with a social equity license, you need luck by your side,” Khot said.
In her experience, acquiring a license was just the beginning. Location, compliance, and community engagement emerged as integral elements of the journey, each carrying its own set of challenges.
Johnson echoed Khot's sentiments, sharing the journey that marked his foray into the industry. Applications, rejections and persistence characterized his early steps.
“The construction aspect has been a challenge,” Johnson confessed, pointing out the significance of perseverance and ...