George Archos, the founder and CEO of Verano Holdings, reveals how the company’s unique culture and community focus propelled it to the forefront of the cannabis industry.
The cannabis world’s been booming lately, and Verano Holdings is right in the thick of it. Spanning 13 states and over 140 spots, Verano pulled in a cool $938 million in 2023. George Archos, the brain behind Verano, sheds light on the secrets of nurturing a thriving cannabis biz, underscoring a solid culture, flexibility, and community touch.
Archos’s plunge into cannabis wasn’t random—it was personal. He saw firsthand how cannabis helped a family member with multiple sclerosis, igniting his quest for a cultivation license in Illinois. “I always loved the opportunity to do something good for people, and this was an opportunity to do it in my home state,” Archos recalls. His goal was simple yet profound: build a company that prospers financially and makes a real difference in lives.
Crafting a ‘Family Vibe’
At the heart of Verano’s success lies its focus on culture and hospitality. With roots in the restaurant biz, Archos knew the magic of a warm, inviting space and stellar customer service. “Training and creating that family vibe is very important to us and then providing them a great product,” he explains. This philosophy has been key to building a devoted customer base and a loyal team of around 4,000 employees.
Overcoming Public Market Challenges
Transitioning Verano to a publicly traded company was a significant milestone, albeit with its own set of challenges. Archos admits that managing a public company requires a shift in focus, often taking him away from hands-on operations to concentrate more on investor relations and extensive travel. “Once you go public, unfortunately, you have to step away from that a little bit and spend a little bit more time on investor relations and traveling,” he notes. Despite these challenges, Archos has adapted, recognizing the benefits of increased exposure and valuable learning experiences that come with being a public entity.
Navigating the Volatile Cannabis Market
Archos’s advice to budding entrepreneurs is rooted in decisiveness and resilience. He emphasizes the importance of trusting one’s instincts and being willing to pivot when necessary. “You have to make that decision. You have to trust yourself and you have to move forward,” he advises. This proactive mindset has been crucial for Verano in navigating the volatile cannabis market, ensuring its steady growth and resilience.
Future Prospects for Verano
Peering forward, Archos sees steady triumph for Verano, fueled by unwavering dedication to quality, community, and innovation. The company’s growth plans unfold against the ever-shifting cannabis scene, with rising legalization and acceptance paving the way. Verano plans to harness its robust foundation and flexible strategies to keep steering the industry.
Verano’s impact extends beyond its financial success. The company is deeply committed to community engagement and social responsibility. Archos emphasizes the importance of giving back to the communities they serve, supporting local initiatives, and promoting social equity within the cannabis industry. “We believe in doing good business and being good neighbors,” Archos states, highlighting Verano’s involvement in various community programs and partnerships.
Archos’s leadership style is deeply personal, rooted in his own experiences and values. He believes in leading by example, fostering a culture of integrity, and maintaining an open-door policy for all employees. “Being approachable and listening to our team’s feedback is crucial,” he asserts. This leadership approach has cultivated a cohesive and motivated team, driving Verano’s ongoing success.
Final Thoughts
George Archos’s trek with Verano Holdings is a vivid tale of vision, culture, and community crafting a thriving business. Born from personal experiences and modest starts, Verano has ballooned into a $938 million giant. Its journey is marked by resilience, adaptability, and a steadfast dedication to doing good for folks. As the cannabis industry shifts and grows, Verano is set to stay ahead, fueled by Archos’s leadership and the bedrock values that guide the company.
