For Kaelan Castetter, the past six months have been a whirlwind. Along with his father and a team in Binghamton, he operates Castetter Cannabis Group, a business that’s only expected to boom in the coming months, but is still faced with uncertainty.
While the adult-use industry was legalized six months ago, there’s still plenty of unanswered questions.
“There’s a lot of excitement right out the gate, and now the reality of what the regulatory process really entails and how long this process can be, and the planning and the hard work that’s going to go into positioning yourself into a successful operator in cannabis is really starting to hit home,” said Castetter.
Over the past couple of months, Castetter shifted from the manufacturing side to consulting, and the products are endless. He says that variety is allowing potential new businesses to find their own niche, and one industry in which he expects THC to shine is the medical side.
“Whether that’s something as serious as people who are undergoing chemotherapy and need a way to find relief from their treatments, to people who want to get rid of some of their anxiety or help to manage their anxiety, help with better sleep,” said Castetter.
On the consulting side, Castetter helps potential new businesses navigate the uncertain waters and red tape that still lies ahead. This core group is well-versed on the ever-changing regulations, allowing anyone who’s interested to consider opening their own shop.
“With uncertainty creates a lot of risk. When do you invest? When do you secure property? What sort of space should you be looking at, because you don’t know what the licenses are going to allow. Capital. How to raise capital in a marketplace where a bank won’t give you a loan,” said Castetter.
Despite this uncertainty, Castetter expects legalization to became a major boost for communities across the state, and he’s thrilled to play even a small role in the process.
