Canna Provisions’ CEO is reinventing Cannabis Dispensaries as destination stores in Massachusetts
In recent years, the cannabis industry has been taking off. Meg Sanders, CEO of Canna Provisions, is one woman to watch in this blooming market opportunity.
She’s been a key player in the legalization efforts sweeping the nation. Here’s how she’s reinventing the idea of a cannabis dispensary and how you can add this sector to your investment portfolio.
Meg Sanders: Canna Provisions’ CEO
In the last decade or so, the cannabis industry has evolved. The push to legalize marijuana for recreational uses started in Washington and Colorado in 2012. Other states began to follow suit in subsequent years.
As more states legalized the recreational use of marijuana, an entirely new industry was formed. While the illegal weed market had flourished for decades, legalization was a major transformation for the industry. Currently, 39 states have approved marijuana for medical use, and 21 have legalized marijuana for recreational use.
If you live in a state with a legalized marijuana industry, you might have seen dispensaries popping up across town. The atmosphere of these dispensaries seems to range from high-class to the bare minimum. However, Canna Provisions’ CEO, Meg Sanders, has taken a different approach than the average dispensary.
Meg Sanders is an icon of the cannabis industry. After working with the governor of Colorado to develop retail cannabis regulations in 2012, she’s risen through the ranks to become one of the top women in her field.
Vision for Canna Provisions
After much moving and shaking in the cannabis industry, Sanders became the CEO of Canna Provisions in 2018. The company is based in Massachusetts and operates two storefronts for customers in the state.
According to an interview in the Summer 2021 Women & Weed magazine, Sanders is proud of the fact that she’s taken “$5 million and turned it into a thriving and growing $100 million-plus company in U.S. cannabis.” This is an impressive feat in any industry.
With Sanders at the helm, Canna Provisions has gone beyond a regular dispensary. It created a destination store featuring local art and good vibes. Of course, the store is complete with a wide range of cannabis products.
The eclectic atmosphere draws a crowd from the surrounding states. It earned 4.3 out of 5 stars on Google reviews. Most of the customers rave about the friendly and courteous staff who are willing to help them navigate a wide selection of products.
There’s no denying that Sanders has created a unique dispensary experience. The business remains one to watch in the coming months and years.
Cannabis industry: An investment outlook
Since legalization, the cannabis industry has been growing. The growth predictions vary widely based on the source. For example, BusinessWire reported that the cannabis industry’s economic impact might hit $158 billion by 2026.
Currently, the cannabis industry has an estimated value of $10.8 billion to $33 billion. While it might be difficult to nail down exact numbers, it is apparent that cannabis is a multi-billion dollar industry with room for growth.
As an investor, it’s hard not to see the potential for profits. The cannabis industry continues to grow, so there are potential returns to be made.
How to invest in cannabis
While you might see potential in cannabis stocks, finding individual companies to invest in can be a bit of a headache. As an investor, it’s important to do your due diligence on potential investment opportunities.
However, in this nascent industry, new opportunities seem to pop up every week. Plus, the changing rules and regulations at the state level come into play for the potential upside of a particular business.
If you aren’t interested in monitoring the headlines and staying on top of the developments in the cannabis industry, you might miss an investment opportunity. Luckily, you can put your investments on autopilot with the help of artificial intelligence (AI) through Q.ai.
Q.ai offers Investment Kits that include a variety of stocks designed to support your financial goals and risk tolerance levels. When the market changes, Q.ai will make the appropriate modifications to keep your portfolio in line with your goals.
Since this market is growing, there’s likely to be some volatility along the way. Working with Q.ai can help you avoid the hassle of staying on top of your investments.
While Q.ai doesn’t offer a cannabis-specific Investment Kit, it does offer a Guilty Pleasures Kit. This Kit includes stocks in the cannabis industry as well as tobacco, gambling, love and alcohol companies.
The bottom line
Cannabis dispensaries aren’t one size fits all. Instead of going with a generic storefront, Canna Provisions has leaned into the idea of a cozy dispensary with plenty of product options and friendly staff.
The unique experience has become a destination for some and is a testament to the fact that the cannabis industry continues to grow across the country.