His brief “Kobe” interlude is surprising in its potency Aminé’s vulnerability coupled with the realization of his own mortality is piercing, yet soft. His ability to look so powerfully inward stands in sharp contrast to the man we were introduced to three years ago. “Roots,” which is soulfully accompanied by JID and the one and only Charlie Wilson, leans into Aminé’s more self-deprecating side (“If being ugly was pretty / I’d be the shit”) and fearlessly embraces who he really is. While hope is not a good business strategy for anyone, with a bit more sage advice from experienced cannabis operators, it’s a good way for a community to bond together and try to figure things out.Good For You was saturated with an array of party-starters its follow-up takes a solemn look at Aminé’s life and shares the findings. Building a business from the ground up is hard in the best of circumstances. The off-the-charts optimism that was felt two years ago when adult-use legalization was announced has changed into something more nuanced with a mix of exuberance, frustration, and worry. “Worst case-a majority of the CAURD licensees don’t get operational or are treading water.” “I worry most about the inclusion of the justice-involved entrepreneurs,” he said. The hope of many is that a decent amount of the legal cannabis businesses in the state will be “thriving with staying power.” But Holland warned me that this would be a best-case scenario. This makes for an untenable situation in New York.
Market conditions are bad in the entire industry right now and investors are fleeing, not writing checks. The cost is enormous and the capital markets for cannabis have dried up-DASNY tried to raise money from investors at the exact wrong time. When considering all these expenses, one can understand why this is so hard to get done. Retailers will also need money to operate for at least a year so that the business can find its legs and grow enough to sustain operations. The selection has to be large and high quality enough to bring people off the streets and into the store. Product inventory is a never ending, toll retailers will have to shoulder in order to compete with underground supply chains. The new rules that dropped in June are over 300 pages long, written in bureaucratic language that’s difficult for most laypeople to understand.Īnd the costs keep coming for retail operators once they do manage to open for business. New York regulatory requirements for everything from ownership to securing the facility are burdensome and hard to comply with, which raises costs for lawyers and other compliance professionals. Real estate acquisition and buildout costs are high. It takes roughly $1-2 million to open a cannabis dispensary just about anywhere, and New York is an expensive place. Revelry Buyers' Club EmpireOptix / Courtesy On The Revel “The last thing this industry needs is for an entrepreneur who has been sold the dream for generational wealth to end up with crippling generational debt.” “Before any CAURD licensees take any deals or personally guarantee anything, I strongly advise they consult with someone with a lot of cannabis retail experience,” said Holland. Holland has strong feelings about all of this. There’s a lack of viable locations and funding from DASNY (the entity chosen by the state to provide these resources), more than a few broken promises, and predatory deals. The state has overpromised and under-delivered. The retail outlets in New York are the most difficult to stand up. With a lack of legal retail shops opened in the state, On The Revel continues to fill in the gaps with another successful Buyers’ Club just last week, and a massive block party slated for August 26th, 2023, at Restoration Plaza in Brooklyn. With all of the challenges new CAURD licensees face, Revelry Buyers' Club is a critical event for this industry, making it easier for all of us to do business.” “My experience at the first event provided a unique opportunity to preview brands in a way that I would not have gained simply by looking through a directory, and to discover new products I might not have considered otherwise. “The Buyers’ Club curates the best selection of cultivators throughout the state in one room, making it easier for licensed retailers to build meaningful partnerships and curate the perfect product selections,” said Kheperah Kearse, Co-Founder of Kush & Keme.
Participants have much to say about the quality of these events. Since 2016, On The Revel has produced 16 events focused on supporting New York cannabis, and their community is growing every year.
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