CANNABIS LICENSE APPLICATIONS
Looking to get into the cannabis space? Do you need help with a cannabis license application or preexisting marijuana business license support? You aren’t the only one. Right now, the cannabis industry is expanding rapidly, as more and more states are creating laws that allow businesses to legally produce and sell cannabis products. Good news, Higher Yields’ application writers, and cannabis license consultants can help your business obtain a license. Our team of marijuana experts has been awarded licenses in merit-based states as well as non merit-based states, in both the recreational adult use and medical marijuana markets. Get started today with our cannabis license services.
CANNABIS BUSINESS LICENSES
BUSINESSES WHO USE PROFESSIONAL CANNABIS APPLICATION WRITERS HAVE A GREATER CHANCE OF BEING AWARDED A LICENSE.
Cannabis laws differ from state to state, and each state’s cannabis licensing process is different. There may also be differences within states application processes depending on the type of cannabis business and whether you are applying for a recreational or medical marijuana license. Understanding and delivering on the specific requirements for cannabis permits in your state is crucial for success when applying. For many of you you will only have one shot to acquire a license, so best to make it count.
In these boom times, the opportunities for growth are abundant, but only to those who can make it through the rigorous application process and become a licensed marijuana business. This is easier said than done, especially without professional help.
Still, with careful planning and the right guidance, success is possible. Read on to learn about the common requirements in the licensing and permitting process.
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COMMON REQUIREMENTS FOR CANNABIS LICENSING
While licensing varies considerably by state, there are still some common factors that are looked at by most marijuana business licensing agencies. Making sure that you have these requirements covered is the first step to creating a successful application.
Here are few of the more common requirements:
1. Business Plan
One of the most common requirements for a cannabis license is a well-built business plan. After all, there is little point in approving an application for a cannabis business if it looks likely to fail. Regulators want to see that you’ve made a plan for how your business will operate and grow, and to ensure that your plan lines up with all the relevant regulations. So craft your business plan carefully, and make sure it stays within the regulations for marijuana businesses in your area.
2. Standard Operating Procedures (SOPs)
SOPs make up the day-to-day activity of your business, and its important to detail how you will handle all the procedures in a way that fits the cannabis regulations, and follows applicable workplace codes and regulations in your area.
3. Strong Financials
Another big requirement is strong financials. It takes a fair bit of funding to get a fully licensed cannabis business up and running. From application fees, to property purchases and build-outs, to marketing and employee salaries, the costs can really add up before you ever hit opening day. Licensing agencies want to see that you have the funding to push through to the point of profitability. Showing that you have a legal source of funding that is sufficient to get your business started is one of the most important factors for getting your application approved. Our team of accountants is experienced in helping cannabis startups with financial plans.
4. Cannabis-Friendly Real Estate
Cannabis real estate is another big factor. Before you can get your license approved, you will likely need to have a property secured that meets the requirements for your marijuana business type. Many areas have zoning restrictions for cannabis businesses, so it’s important to make sure your property is in the right zone for your business type. There may also be relevant regulations about the buildings on your property. Any structures on the property should be up to code for the commercial activity involved in your cannabis-related business.
5. Background Checks
A final consideration is background checks. Most states have some type of background check to ensure that any relevant partners in the business don’t have a criminal record. Regulatory agencies don’t want legal cannabis to be funding criminal activity, so make sure there won’t be red flags raised for any of your partners before you apply.
MEDICAL OR RECREATIONAL CANNABIS: WHAT TYPE SHOULD YOUR BUSINESS CHOOSE?
Many states offer both recreational and medical marijuana programs. Deciding between the two can be a tough decision and a very important one. We’ve compiled some pros and cons for both to help you make an informed decision.
5 Tips for aCQUIRING a Cannabis Dispensary License
Higher Yields’ cannabis consultants have years of experience when it comes to being awarded a license. We’ve put together a short article on 5 crucial tips that should help your group acquire a marijuana business license in your state.
3 BIG MISTAKES TO AVOID ON YOUR APPLICATIONS
We’ve heard many horror stories about businesses not using experts when applying for a cannabis license. Your chances of being awarded a license plummet and in a merit based state you only get one chance. If you still choose to go it alone here are 3 things you do not want to do if you plan on being successful.