Top brands share their profitability playbooks

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November 1, 2024 l Sign Me Up

Four cannabis brands share roads to profitability

Photos by Diane Chappell for MJBiz/Emerald

Barely a quarter of marijuana businesses reported being profitable last year, according to a recent survey. In an era of overregulation, oversaturation, high costs and economic uncertainty, is profitability possible in cannabis? For some, yes. But it takes numerous strategies and perseverance. That's what the four stories in this month's magazine cover package are about.

MJBizMagazine reporters and executives at four profitable marijuana businesses took deep dives into how they made their companies successful. In these four stories, executives reveal dozens of critical decisions and strategies that helped their businesses turn the corner to profitability in some the most difficult markets in the United States.

What's striking about these stories is how many pivotal decisions executives had to make – and how many strategies they had to leverage before becoming profitable.

Yes, profitability is still possible in cannabis. Learn how it can be done by reading these four case studies. Read Story >

E D I T O R ' S P I C K S

Navigating MJBizCon Made Easy

MJBizCon is hands down the best and biggest marijuana trade show in the world. To get the most out of your MJBizCon experience, check out our handy Show Guide. The Show Guide contains an expo floor map so you can efficiently navigate the 1,000-plus booths, conference agenda and speaker highlights to help you decide where and how to spend your time best. Read story >

Economist outlines what the marijuana industry should expect in 2025

The macroeconomic environment has a huge impact on cannabis investment opportunities. While recent years have been rough for the industry, the future looks somewhat less turbulent as macroeconomic pressures on cannabis businesses alleviate. Still, some critical business operations will continue to be influenced by macroeconomics – and how companies respond to these factors will ultimately decide the health of their cannabis businesses. Read story >

In Focus: New cannabis stores

MUHA MEDS founders, Ali and Muhammad Garawi

Ali and Muhammad Garawi celebrate the opening of Muha Meds in Westwood, California

Courtesy photo

Nationwide, the number of approved and pending licenses grew 17% from Q2 2023 to Q2 2024, according to CRB Monitor, a cannabis license-tracking firm. Overall, there were 11,772 active retail licenses at the end of Q2 2024. Meanwhile, retail dispensary applications exploded by 445%, increasing to 3,910, the most new license applications recorded in two years. Read story >

E L E C T I O N W E E K

2024 Election Results: Impact on the MJ Industry

Will the grass be greener for the marijuana industry in 2025?

Join MJBizDaily Reporter Chris Roberts and special expert guests to sort through the results of the 2024 presidential and state elections and dive deep into insights on how the outcomes will impact the U.S. cannabis market. Register now >

MJBizCon Agenda Drop

MAIN STAGE PANEL DEANGELO AND ASHBEL AT MJBIZCON

This year's MJBizCon welcomes two iconic duos: Steve & Andrew DeAngelo and Mishka & Slava Ashbel to the Main Stage! The DeAngelo brothers, famous from Weed Wars, are teaming up with the Ashbels from Hulu's High Hopes for the inside scoop on crushing stigmas, tackling regulations, industry compliance, and scaling operations — all while staying true to the plant and culture.

MJBizCon brings the cannabis industry the most comprehensive Agenda with a diverse lineup of sessions, speakers and educational tracks. This year's conference brings 200+ speakers and four full days of sessions to its attendees and exhibitors.

MJBizCon returns to Las Vegas on Dec. 3-6. View Full Agenda >

Q U O T E

"We grow by being really open to cycles of testing, retiring products that don't find a market fit, and then launching new versions based on market feedback."

– Austin Hice, Breez

Courtesy photo

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W E B I N A R

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R E S O U R C E S

Breaking Through: Four Brands Share Blueprints for Profitability

MJBizMagazine Nov/Dec issue: Breaking Through to Profitability
SAVE! Fuel Your Fire at MJBizCon, Dec. 3-6 – Get tickets by 11/14
Gain new leads + land big deals at MJBizCon – Book a booth
Make informed decisions with MJBiz Factbook – Get data
MJBiz Free Cannabis 101 Course – Sign up and start learning
MJBizDaily Reports and Buyers Guides – Download
MJBiz Media Kit – Advertise with us

MJBizMagazine is brought to you by Omar Sacirbey

MJBizMagazine delivers top monthly headlines, plus insights on new products and industry trends for cannabis retailers, distributors, and marketers for MJBizDaily, the leading resource for the cannabis industry, cited by The Wall Street Journal, Forbes and Harvard Business Review. MJBiz also produces the No. 1 cannabis business conference, MJBizCon.

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MJBizCon 2024

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