The Hood Collective

The State of Cannabis: Challenges and Insights for Legal Businesses in 2024 Since Oregon legalized recreational cannabis in 2015, the industry has faced rapid shifts—from initial excitement and growth to oversaturation and economic struggles. This boom-and-bust cycle has now spread to other states, with similar dynamics playing out across the U.S. As legal cannabis markets mature, both plant-touching and ancillary businesses are navigating an increasingly competitive and regulated landscape, making sustainability a constant challenge. At The Hood Collective, we’ve experienced these cycles firsthand, as recently featured in Oregon Business Magazine (https://lnkd.in/g4n9pMiN). We’ve seen how oversupply, price drops, and strict regulations have squeezed profits for cannabis companies across the country. Even businesses in supporting roles—such as marketing, legal consulting, and testing—are deeply affected when the broader industry faces financial strain. The Oregon market is just one example of these larger trends. States like California, which saw over $5.1 billion in taxable cannabis sales in 2023, are now grappling with oversaturation, falling prices, and rising costs. Similarly, Michigan has faced price drops as cannabis production outpaces consumer demand, putting pressure on businesses of all sizes. These challenges are not limited to plant-touching companies; ancillary service providers are also feeling the pinch as their clients struggle to stay afloat. Despite these difficulties, The Hood Collective has helped businesses adapt and thrive by focusing on long-term, sustainable growth. By building resilient, adaptable brands, we ensure that cannabis companies can weather the ups and downs of a volatile industry. We emphasize strategic growth, starting small, and growing sustainably while preparing for potential federal rescheduling and legalization. This measured approach ensures that our clients are positioned to not just survive but thrive in this rapidly changing landscape. Looking to the future, potential federal reforms could bring relief to the industry, opening the door to interstate commerce, lowering tax burdens, and reducing regulatory hurdles. At The Hood Collective, we’re preparing our clients for these changes by helping them expand their brands beyond state borders and advising them on investment strategies that can help them scale. Want to learn more about how your cannabis business can thrive in an evolving market? Visit us at The Hood Collective (https://lnkd.in/gRhY3UCz) and discover how we can help build a resilient, scalable brand for your future.

🚨 Don’t Make These Mistakes in Cannabis Marketing 🚨 Marketing in the cannabis industry is tough, but it doesn’t have to be harder than it already is. Too many businesses waste money out of desperation, fail to invest in their brand, or cut corners in ways that end up costing them more in the long run. In our latest THC Launchpad episode, we break down the biggest marketing mistakes and how to avoid them. Don’t be dumb—learn from the past so you don’t repeat it. Whether it’s smarter spending, better planning, or focusing on what truly sets your business apart, these lessons are where every cannabis brand should start. 📺 Watch the video now and take the first step toward smarter, more effective marketing. https://lnkd.in/gwHhbJWx #CannabisMarketing #THCLaunchpad #BrandingMatters #CannabisBusiness

Americans’ views on cannabis and psychedelics have changed a lot over the past decade. Curious what the data says? It’s not what you’d expect.

Massachusetts hits a $7 billion milestone in recreational cannabis sales—with $1 billion in just seven months. The East Coast market is thriving, and the momentum shows no signs of slowing. 🚀

Marijuana testing for military recruits remains a point of contention in Congress. The latest defense bill passes without cannabis-related reforms. What’s next for the conversation on cannabis and military policy?

Federal cannabis policy is under the spotlight as D.C. leaders and lawmakers push for change. Could this finally pave the way for regulated sales in the nation’s capital? 🏛️ Stay tuned.

NY’s cannabis market hits $1B—this holiday, shop local and support community growth. #NYCannabis #ShopLocal

Big moves in sports culture: The NFL is evolving its stance on cannabis. What could this mean for the future of the game—and beyond? 🏈

New research explores how CBD might support our furry friends after accidental THC exposure. The findings could change how we think about pet care and cannabis. 🐾

Who benefits when small businesses and equity take a backseat? 🌱 A critical call for accountability in New York’s cannabis market. #SocialEquity #CannabisIndustry #LeadershipMatters