Following Trulieve’s business focus could help private companies launch blockbuster cannabis IPOs…
The words “first” and “most” come up often when you’re talking about Trulieve Cannabis Corp. (OTC: TCNNF) and its rise to prominence in Florida.
It was the first medical cannabis operator, it was the first to sell smokable cannabis products, and it has more dispensaries (51) than any of its competitors. And now that Trulieve accounts for more than half of all medical marijuana sales in Florida, it’s expanding to California, Connecticut, and Massachusetts to reach even more cannabis enthusiasts.
Now, none of that would have been possible without focus, discipline, and a plan to first dominate one area of the country – and that’s what we call being a single-state operator (SSO).
The idea of an SSO is that a company proves its business model works with a successful track record in one area of the country. Then, it can follow that business model in new markets by building cultivations facilities, opening dispensaries across the United States, and becoming what is called a multi-state operator (MSO).
It’s a playbook that has worked for Trulieve, and other companies have taken notice – especially private companies gearing up for IPOs.
A Disciplined Approach Will Lead to a Stronger IPO Market
Over the last 12 months, with economic issues amplified by the coronavirus pandemic, private cannabis companies have waited to go public.
The good news is that now, instead of going public and hoping for the best, many private companies are becoming more disciplined and focused, making sure their business models work in one state before rushing to expand.
And by Q4, Advisory Board member Danny Brody believes that four SSOs could be ready to go public. Of course, it was only fair that Danny and Executive Director Don Yocham discussed all those details in a video exclusive to the paid-up subscribers of Cannabis IPO Insider. They can access the full video here.
But we still wanted to make sure all our readers heard from Danny about a company he is working with very closely that is gearing up for an October IPO – HempFusion.
In the clip below, Danny shares more about the business and how it has become the third-most recognized CBD brand in the country.
Take a look:
And before you go – Danny has agreed to share with you the simple three-step strategy he used to create his own cannabis fortune in his Cannabis Investor’s Master Class.
2 responses to “The Lesson From Trulieve That Every Private Company Needs to Know”
July 22 2020