Explore these 5 marketing strategies for ancillary cannabis businesses to find the best ways to increase your brand awareness, reach your target audience, and close more sales.

Although New York has had legal medical marijuana since 2014, the state’s recreational cannabis program is still in its infancy. Legalized in 2021 through the Marijuana Regulation and Taxation Act (MRTA), the first adult-use dispensary opened on December 29, 2022. Now, recreational cannabis retailers in New York are projected to generate between $1 billion-$1.2 billion in sales over the next year, growing to $2.2 billion-$2.7 billion by 2026.

Learn all about the state of the security market from this recap of the cannabis industry’s largest event of the year!

When prospective cannabis business owners are met with particularly tight turnarounds, the licensing process can seem like a race to completion. Regardless of the reason for the short deadline, there are still opportunities for prospective cannabis business owners to ensure quality and compliance on vital components of the application, such as the floor plan design.

New Jersey’s Cannabis Regulatory Commission (CRC) is in the process of cannabis business licensing, with cultivation and manufacturing applications accepted as of December 2021 and the acceptance of cannabis retail applications starting on starting on March 15. Despite delays, personal use sales are still expected to begin within the first half of 2022.

Without a national program, cannabis business applications vary widely. While states like Illinois and Missouri license cannabis businesses through a state-wide program, states like California and New Jersey are allowing municipalities to run their own licensing processes. In addition to differences in state and municipal programs, there is no standard application format. This means almost every application is unique with distinctive requirements, formats, and challenges.

As legalization has become more common, many studies have been conducted to examine the effect of cannabis legalization on crime. Though some studies have revealed a reduction in crime rates in areas with cannabis dispensaries, others have shown an increase or no change at all.

Last week, people from every corner of the U.S. cannabis industry converged in Las Vegas to network, build their brands, and attend MJBizCon – the largest event in the industry. After a year of hiatus prompted by the Covid-19 pandemic, MJBizCon was back celebrating its 10th anniversary with over 1,300 exhibitors and 250,000 square feet of expo halls. This year’s show was bigger than ever and attracted about 35,000 attendees compared to 33,000 attendees at their last in-person conference in 2019. MJBizCon took place from October 19-22 at the Las Vegas Convention Center and hosted over 130 speakers and multiple networking events with something for about everyone in the industry.

As the cannabis industry is adapting to changing laws and a more accepting society, the security industry is also advancing to meet these new needs. Each year, new security technologies emerge that can be applied or modified for the cannabis industry. This year, the cannabis industry is trending toward remote security technologies that could potentially improve business operations and efficiency.