Brady Cobb On Florida’s Cannabis Market Post-Amendment 3
Welcome to TDR’s Trade to Black Podcast! This episode takes us to Florida, where we sit down with Brady Cobb, CEO of Sunburn Cannabis, to discuss the evolution of the brand, the state of the cannabis market post-Amendment 3, and the future of the industry in Florida.
Brady Cobb reflects on bringing Sunburn Cannabis to life, turning a long-held vision into reality with the help of his team. He discusses the company’s acquisition in 2022 and how they transformed spaces into a unique consumer experience. Through innovative marketing, including their “Get Burnt” Spring Break campaign, Sunburn has successfully built a brand that extends beyond cannabis, drawing attention from celebrities like Dave Portnoy.
The impact of Amendment 3’s failure on the Florida cannabis market has been a large one. Price compression post-Amendment has led to significant discounting, says Cobb, with lower-quality products flooding the market, but Sunburn has remained disciplined by focusing on its bottom line. Brady Cobb explains the company’s strategy of getting “lean and mean,” including cutting delivery services to optimize revenue. The post-Amendment 3 landscape has also seen a surge in new medical patients, with numbers increasing from 1.5% to over 3% growth since November.
A key focus is the flood of out-of-state hemp products undermining Florida’s regulated cannabis market. Cobb highlights the lack of proper testing, packaging, and safety measures for hemp-derived THC products, which are widely available in smoke shops and gas stations. He supports legislative efforts to impose stricter regulations, citing public health concerns and unfair competition with licensed cannabis businesses.
As Florida’s cannabis market evolves, Cobb remains confident in Sunburn’s growth and the state’s potential, emphasizing disciplined expansion and brand-building over quick gains. He closes with insights into the ongoing push for cannabis banking reforms at the federal level, predicting more legislative movement in 2024. Catch it all when you tune in to this episdoe.
