The cannabis industry has experienced exponential growth over the past few years, with wine emerging as a major player. Verano operates in 13 states with over 140 locations and posted revenue of $938 million in 2023. George Archos, founder and CEO of Verano, shares his journey and insights into building a successful cannabis company, emphasizing the importance of culture , suitability and community impact.

Archos was drawn to the cannabis industry by the potential benefits of the plant. He was influenced by a family member with multiple sclerosis, which motivated him to pursue a cultivation license in Illinois. Archos emphasizes the importance of building a company that does good for people, saying, “I've always wanted the opportunity to do something good for people, and this was an opportunity to do it in my home state.”

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One of the keys to Verano's success is its strong focus on culture and hospitality. With a background in the restaurant industry, Archos emphasized the importance of a welcoming environment and excellent customer service. “Training and creating that family atmosphere is very important to us and then providing them with a great product,” he explains. This approach has been instrumental in building a loyal customer base and a dedicated team of approximately 4,000 employees.

However, the journey has not been without its challenges. Going public was a major milestone for Verano, but it came with its own difficulties. Archos admitted that managing a public company involves more time in investor relations and less on field operations, which he enjoys. He shares, “Once you go public, unfortunately, you have to step away from that a little bit and spend a little more time on investor relations and travel.” Despite these challenges, Archos has adapted and now sees the benefits of increased exposure and learning experiences that come from being a public company.

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Archo's advice to other entrepreneurs is straightforward: make decisions and learn from them. He emphasizes the importance of trusting one's gut and not being afraid to pivot if necessary. “You have to make that decision. You have to trust yourself and you have to move forward,” he advises. This mindset has helped Verano navigate the volatile cannabis market and position itself for future growth. Looking ahead, Archos envisions continued success for Verano, fueled by a commitment to quality, community and innovation.

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