What a Cannabis Consulting Company Can Do for You
The complexities of all the moving parts of launching a cannabis business can be too challenging and confusing for a business owner who only has basic knowledge of the legal marijuana industry.
Cannabis consulting firms help entrepreneurs launch and establish their marijuana business. They not only help startups but also existing cannabis companies that may want to expand. It’s tempting to save money and go at it on your own. Here are the main services that professional cannabis consultants can provide their clients:
Cannabis Business Tours – From cultivation and extraction to retail, there are various types of cannabis businesses. Each type of marijuana business will have different facility designs, daily operational goals, equipment, and so on. So before you spend a significant amount of time conceptualizing your marijuana business, you need an idea of the unique requirements of your facility. The best way to gain a better understanding of the type of cannabis business you intend to launch or invest in is to visit a facility that is already operational.
Established cannabis consultants typically have an extensive business directory and networks in the legal cannabis industry. By giving you access to a cannabis company that has a good track record, operational management, and business model, you gain insight into what it truly takes to operate your own marijuana business.
Facility Design Build – Mistakes in planning and engineering can be costly and set your timeline back, which not only costs time but also money. Without adequate knowledge in facility design, you may be taken advantage of, and construction could go on for much longer than necessary. For example, an outdoor grow facility or a greenhouse will differ from an indoor cultivation facility. Each facility and state will have its own set of zoning and planning laws, safety and security standards, and municipality regulations.
To ensure you’re investing your funds wisely, a cannabis consulting firm can work as the design-build team that will craft a blueprint of your facility, including everything from HVAC systems to environmental controls. The cannabis consulting firm will have their own team of architects and construction professionals, including a project manager, engineer, electrician, plumber, HVAC technician, and general laborers, that specialize in designing and constructing efficient and compliant cannabis facilities.
The beauty of having the design and construction of your facility under one contract is dealing with one project manager. This decreases miscommunications and bottlenecks, which increases organization and productivity and ensures construction is completed according to the timeline.
Cannabis License – You can’t participate in the legal cannabis industry without a business license. Because marijuana laws and regulations differ from state to state, your state will have its own license application process. The requirements will also depend on the type of cannabis business you are applying for – recreational or medical cannabis license.
The cannabis license application process is rigorous. The cannabis industry is highly regulated, and competition is fierce, as each state will likely have a limited number of licenses to award. Therefore, your application will need to stand out. The whole application process will probably involve completing dozens of sections. Some sections will have a word count limit, which makes it crucial to write in a clear and concise manner. You will also need a well-thought-out business plan, proper documentation authorization, contracts with trusting partners, and standard operating procedures. This includes showing that you have a security infrastructure in place to safeguard your legal marijuana business.
Many states use a scoring methodology to rank permit applications. Therefore, your chances of being awarded a coveted license is determined by the quality of your application. Licensing consulting gives you an edge when it comes to the highly competitive nature of marijuana business applications. By utilizing the services of a professional application writer, you increase your chances of being awarded a license significantly. Expert cannabis application writers have an in-depth understanding of the specific requirements crucial for creating a successful application. Their expert writing can help you demonstrate your ability to fulfill claims.
Standard Operating Procedures (SOPs) – One of the most crucial requirements of your cannabis application is showing your ability to adapt to regulation changes, stay organized, and achieve compliance. You can do this by outlining your business’s Standard Operating Procedures (SOPs). SOP requirements will typically involve employee documentation, including training manuals. SOPs should contain processing procedures, safety and health protocols, security measures, and emergency practices. SOPs should also contain procedures on how you will handle cash, maintain financial records, sales processes, marketing, and customer service.
A cannabis consulting company can help you not only create proper SOPs but ensure you are implementing them properly. Cannabis consulting companies have expert technical writers who can create detailed, step-by-step SOPs for your business that display your facility’s ability to operate in accordance with the state’s specific marijuana laws and regulations. An experienced SOP writer will ensure your processes are described in-depth, while remaining easy to read and understand.
METRC and Cannabis Business Compliance – The Marijuana Enforcement Tracking Reporting Compliance (METRC) is an elaborate cannabis compliance system required by some states. The system helps you monitor and verify reported cannabis inventories. It proactively analyzes trends and stays on top of cannabis news to assess risk and identify non-compliant behavior. It is currently a requirement for all cannabis businesses of all types in 14 states to follow a product back to its origins, should it become a public health concern. If the METRC system is a requirement in your state, a cannabis consulting company can provide METRC training, reconciliation services, and perform compliance audits.
Not adhering to your state’s established cannabis laws, standards, and policies can result in the suspension, revocation, or cancellation of your business license. The cannabis consulting agency will have a team of expert compliance consultants that will help keep you on top of cannabis compliance and regulations, which are ever-changing. By complying with relevant laws, your cannabis business stays competitive and on the radar as a reliable and law-abiding cannabis business.
Accounting – Maintaining financials, accounting, and staying compliant with tax regulations can be intimidating. A marijuana consulting firm can help organize your business’s accounting finances, thanks to their knowledge of the laws and regulations surrounding cannabis accounting and cannabis tax trends.
Marijuana Business Marketing and Branding – The right cannabis consulting agency wants you to succeed. To ensure you remain competitive and relevant, they can provide marketing services that increase brand awareness and improve brand development.
Because marijuana remains illegal on a federal level, it’s important to remember that your state may have certain restrictions when it comes to marketing marijuana. Because a cannabis consulting company has extensive knowledge in specific state marijuana marketing laws, they will ensure there is nothing illegal about your branding and marketing campaigns. This includes everything from your web design and your social media content to ad campaigns on other media outlets. The marijuana consulting company can also implement your online marketing strategy, while keeping in mind compliance regulations.