Cannabis Business

The cannabis industry has seen an insane boom in the past few years. With legalization of recreational weed happening throughout North America, more and more entrepreneurs are doing something adventurous: mixing cannabis and business. 

Getting a business licence to grow to start cultivating cannabis for profit is something that many attempt to do, but don’t actually achieve. This is because the process involved in obtaining production and distribution licenses of marijuana is a difficult one. 

If you have at least some business sense and hope to take advantage of the ever-growing cannabis industry, investing in a licence to grow is a solid endeavor. But before you begin, read these tips on successfully obtaining a marijuana cultivation licence for your business. Following these will increase your chances of actually receiving a license in today’s competitive market.  

Tip #1: Make Your Application Stand Out

OK, this may seem like a difficult task as you flip through the pages and pages of paperwork. All of this paperwork is extremely formal and needs to be filled out perfectly, or else your chances of being granted a licence are slim to none. However, there is still a way to make your application stand out from the thousands of others. 

There are a few things that will increase your application’s chances of getting approved before the other guys. The first is to show that you are passionate about the cannabis industry. The second is to show that you have a knowledgeable team in place with expertise in more than just cannabis. Your team should also be well-versed in finance, retail, facilities management, and of course, horticulture. 

Tip #2: Understand the License Requirements for Your Specific Location

Now that more and more US states are legalizing marijuana both for recreational and medical purposes, there’s a lot of confusion about each state’s specific regulations and licensure requirements. The same goes for Canada and all of the provinces. It is extremely important to fully understand what your specific state or province requires of you. Each state or provincial government has its own set of quirks when it comes to retail licensing for cannabis. 

Tip #3: Before Applying, Have Your Team in Place

Before you’re company will receive approval from the government for legal production and distribution of cannabis, it’s important to establish your team. The importance of this has already been discussed under Tip #1 as a way to make your application stand out from the rest. But that’s not the only reason to develop a strong network of leaders, vendors, and business partners. 

Tip #4: Form a Relationship with the People in Charge

This is much easier said than done, especially when talking about government officials responsible for approving licenses. But the official government leaders aren’t the only people you should be getting close to; do your best to develop relationships with fellow cannabis-industry members like yourself. This will give you a leg up on everything from product packaging to community distribution.