Looking to get your feet wet in the legal cannabis market? Here is some advice.
According to Green Market Report:
“Many people think of setting up a prosperous business at some point in their lives. Ideally, it should be relatively easy to manage, free of extra costs, and, of course, profitable. However, a lot of potential business owners get easily discouraged by the fact that there are usually many legal issues to sort out and not everyone feels comfortable with that. However, it seems that marijuana dispensary business is a good idea to make some profit relatively effortlessly. If you follow some guidelines about the legal steps that should be taken, you could set up this kind of business and enjoy the profits that come from it. In this article, you will find some points to cover and advice to follow when thinking of a marijuana business.
Re-think your attitude and engagement
“Like every business, marijuana dispensary needs commitment and understanding. Without engagement and dedication, there’s pretty much nothing you could achieve. If you want to make a profit from the marijuana business, you need to get committed. If you’re a beginner in the field, try to read some materials to get in-depth knowledge of the market and the legal issues. Without doing so, you’re not able to take any further steps. You can read about this field for example on 420DC.com.
Legal issues to consider
“Having done some research in the marijuana field, you should be aware of some basic legal issues. However, you should also think about certain inconveniences that may appear on the way. For example, if you want to be a marijuana dispensary owner, you cannot have any criminal record, such as convictions of a drug felony. It will be necessary to obtain a relevant certificate from the local court. What’s more, you should be aware of the fact that the drug law is changing really fast, so it would be essential to stay up-to-date and make any changes in your company if they are required.
Start-up and application
“When you are aware of all the risks and things involved, you can begin the start-up process. Usually, the application process is quite strict and lengthy in the case of marijuana-related businesses. It’s typically aimed at detecting and discouraging all the people who are not fully convinced, knowledgeable, and dedicated to this kind of business. Then, you need to pay a licensing fee which will allow you to run the shop and business in a particular location. The price of the fee depends on the place you want to work in – licenses for places in the city center are normally a lot higher than those in the suburbs. Before you get a license, you normally need to show your bank account statement to prove that you have enough means to run the business successfully.
Finding a rental property
“Once you are legally able to run our own business, it’s time to look for a rental property that you’d like to turn into your own marijuana dispensary. Make sure if the property is private or public (which means you’ll be renting e.g. from the city governors). The second option may be more profitable, as the places owned by the city are usually cheaper to rent. Moreover, some private landlords may disapprove of the kind of business you’re planning to run, so it’s necessary to talk to them honestly, not to have any problems in the future. Make sure that the property is in a good state, without any damage or other faults…
Getting a marijuana license
“The next step that is needed for setting up a marijuana dispensary is obtaining a marijuana license. Obviously, it’s a restricted business and no one is permitted to open such a shop without any permission. In order to get one, it’s best to contact a lawyer who will help you study all the laws and make sure that your business plan goes along all of them. Sometimes it’s quite challenging to do such analysis on your own, as you may not be knowledgeable enough in this field. Plus, it’s not reasonable to risk shutting down your just-opened business.
Legal issues connected with marketing
“Once you establish your business, it’s natural to start a marketing and advertising campaign. It’s not a secret that the main part of marketing is now taking place online, either via a professional website or social media channels, such as Instagram, Twitter, or Facebook. However, in the case of marijuana-related business, there is some legal restriction referring to that. You need to remember that billboard, radio, or TV ads of marijuana are not permitted. The same goes for the so-called pop-up ads, which are the advertisements that appear on various sites you get on and lure to visit the targeted website. Therefore, you should be careful with your marketing campaigns and don’t hesitate to consult a lawyer if you’re not sure about a particular thing…
“Setting up a marijuana dispensary business may seem challenging at first, but apparently, after considering legal issues thoroughly, it may be a good idea for a profitable business. It’s good, however, to stay in touch with a trustworthy lawyer, who will sort out all the possible problems and inconsistencies.”