Licensing laws vary from state to state, and you need to understand them thoroughly if you want to be successful. For example, in Massachusetts, you must get local approval to do business in your selected municipality before you can be granted a state license.
One major cautionary note to aspiring cannabis licensees: remember that you are selling a commodity in a highly-regulated and highly-taxed industry. Ensure you understand all of those considerations before funneling tens of thousands of dollars into preparing and submitting an application for licensure.
3. How do I get a cannabis license?
This basic arithmetic lies at the heart of growing and sustaining a business over time. Once your business is up and running, the challenge becomes your ability to optimize price, quantity, and costs so that your business eventually generates profit for its owners. This is where knowing your customer, community, and the broader market for your product or service becomes very important.
6. What do I need to get my cannabis business started?
To earn a profit, the revenue you generate from selling a product or service must exceed the combined costs of providing the product or service. It often takes brand new businesses months, sometimes years, before they reach profitability. For that reason, the most realistic financing options for aspiring licensees are equity and debt.
Jeremy: With full-scale federal legalization, there would be loans available for minority entrepreneurs. So if you’re a minority entrepreneur and you aren’t connected to these wealthy private investors, you can actually get a loan on pretty favorable terms from a bank.
Will: These are even turning purple. So that’s one indicator that the plant is quote-unquote “finishing up.”
Adrian: That’s just not practical. When I’m building my manifests, Google Maps may tell me the quickest time at that point, but an accident may happen, and I may have to detour. And if I do not follow those directions, I have to go back and update my route. I do understand that it needs to be regulated and tracked. But I do think some things are just a little ridiculous or just not practical.
Jeremy: They can’t take credit cards, because it’s federally illegal. They’re doing business mostly all in cash.
Jeremy: There is kind of a clear throughline from the war on drugs. According to the ACLU, Black people are four times as likely than whites to get arrested for cannabis use, despite using at very similar rates across age groups, across different states.
Narrator: When Adrian first started delivering, only $100 worth of cannabis was allowed in the car at one time.
Will: This is considered the baby room.
Nancy: In Colorado and several of our other states, has the pictures of fruit on it. Certain states have decided that looks too tempting for children, so you can’t have fruits. You can use color, but you can’t use fruit.
Jeremy: A lot of people are really unable to divorce themselves from the stigma that drugs are bad. Cannabis is a drug, so why are we saying it’s OK? No. 1 is simply highway safety.
Fortunately, the climate of the Pacific Northwest lends itself very well to outdoor cannabis production. In fact, some rural areas of Washington and Oregon with agricultural backgrounds have found cannabis to be an easy to maintain, financially lucrative cash crop. Because cannabis roots can expand exponentially, outdoor growers can reap a far greater harvest by allowing their plants to grow to 10 feet tall or higher, uninhibited by artificial lighting or ceilings. Cannabis makes an excellent cover crop, allowing ample space on the surface for smaller crops like tomatoes, carrots, and lettuce to grow with an extra layer of protection above.
Where do I obtain a cannabis cultivation or growers license?
As with any new venture, getting started in the cannabis industry requires one thing among all other aspects: ambition. If you’re prepared to commit the majority of your time to the cannabis industry, you’ll need to be well-versed in its history as well as current events, data, and the ever-changing political climate in order to be successful.
What service does WeatherPort Shelter Systems provide?
There are three types of cannabis seeds a first-time producer can purchase: feminized seeds, regular seeds, and autoflower seeds.