Cannabis Social Media

Cannabis SEO: Optimize Your Website to Attract and Convert Your Target Market

Cannabis Social Media

SOCIAL MEDIA WILL MAKE OR BREAK YOUR CANNABIS COMPANY  – HERE’S HOW TO WIN

2019 is set to be a big year for the Cannabis Industry in the United States. With more states preparing to legalize the medical or recreational use of marijuana, companies will need a sound social media strategy in order to differentiate their products and stand out from the crowd.

For those of us who are familiar with marketing cannabis on social media, you already know that advertising is out of the picture (for now). However, don’t let this deter you from taking advantage of social media for its amazing ability to reach customers and make your cannabis brand shine.

First of all, understand that social media platforms are a marketplace of ideas where businesses that create the most attention around their products and services will win.

The best approach to this is to view your social media initiatives from the perspective of being a media company.

You have a vision and a mission around your products, a company culture and a lifestyle associated with them, and a product that is guaranteed to provide an uplifting experience for your customers.

These are all huge advantages and are the building blocks for creating an amazing online experience for your fans.

So, how do you highlight your company culture? It’s actually pretty simple:

Take what you’re already doing as a company and translate those practices into engaging content. Give your followers an inside-view of your grow operations. Take them on a tour of your dispensary. Catch a little audio of your trim-team as they work diligently to groom the finest-looking buds. Record your head-grower as he dishes out expert-advice on why your plants are the dankest in the industry.

There are unlimited options here, but the real difference maker is being transparent with your operations and allowing your fans a behind-the-scenes look at who you are as a company and why you’re in the business. By getting personal, being real, and sharing with your followers the best of your business, you will succeed.

When you show up authentic and consistent, you’ll grow your fan base, drive more awareness around your brand, and have an incredible ROI.

And finally, remember to be patient and play the long game, because you’re invested in this business for the long-haul, after all.

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Higher Yields Cannabis Consulting

Higher Yields Cannabis Consulting

Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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California Cannabis Consulting

California cannabis licenses

California Cannabis Consulting

Why Choose us for Cannabis Consulting in California?

 

So why should you choose Higher Yields Consulting for cannabis consulting in California? We have years of combined experience with the legal marijuana market. HYC was active and present in the first state to legalize so naturally we’ve been through all the regulations and pitfalls that are bound to be obstacles in states with new legalization legislation. Do not trust just anyone with your investment, choose experience, choose results.

California’s new recreational cannabis industry is on track to be the largest market in the United States with an estimated $3.7 billion in sales by the end of 2018. Over 400 licenses were issued on the first day of legalization, and the state is projected to bring in $1.4 billion in tax revenue by 2021.

As the world’s sixth-largest economy, and with a population of over 40 million residents, now is the time to get in on the industry and become established in California’s marketplace.

Competition will undoubtedly by very high as licensed recreational dispensaries and grows begin to roll out across the state – the companies and organizations that will be successful and have longevity will be those that not only stay compliant with California’s cannabis laws, but also differentiate themselves in unique and innovative ways.

With three separate state agencies regulating the cultivation, manufacturing, distribution, testing, retail sales, and micro-business compliance, navigating California’s legal cannabis framework can be a bit of a maze.

CalCannabis Cultivation Licensing (CalCannabis) is part of the California Department of Food and Agriculture and regulates cultivation. The Manufactured Cannabis Safety Branch (MCSB) is part of the California Department of Public Health and regulates the manufacture of cannabis. The Bureau of Cannabis Control (Bureau) is part of the California Department of Consumer Affairs and oversees the distribution, testing, retail sales, and microbusiness compliance.

Additionally, there are over 17 license categories depending on the type of business, along with an arduous application process. This may all seem like a headache, especially for already well established grows operating behind the scenes yet, thankfully, California is undergoing a legislative effort to bring the existing cannabis industry under regulation and above board.

Again, the businesses that will succeed in this industry are those that comply with the new laws and regulations established by the state.

Getting started in California’s cannabis industry means a lot of time, money, and paperwork. For example, applying for a license not only comes with a hefty fee (depending on the type of operation), but also requires evidence of a surety bond, evidence of enrollment with the applicable regional or state water board, evidence of a hazardous materials record search, identifying all power sources for cultivation activities, a property diagram, a proposed cultivation plan and, last but not least, arranging financial services and banking.

At Higher Yields Consulting, our team of experienced professionals can handle the process from A to Z. We’ve worked with established business who want to remain compliant, and helped new owners get off the ground running with all of their paperwork in order.

We not only offer business services that cover your compliance and banking needs, but also garden design and management, marketing branding, and design services.

By working with us you’ll know that you are compliant, your grow is operating smoothly, and that you stand out from the crowd with our innovative, outside-the-box thinking on attracting customers to your products and services.

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Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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Michigan Welcomes Cannabis Banking Services

cannabis banking michigan

Michigan Welcomes Cannabis Banking Services

Banking Will Make Or Break Your Cannabis Business In Michigan

 

The Michigan Medical Marijuana Licensing Board has yet to award a single license for marijuana businesses in the state.

The state’s law regulating the medical marijuana market was passed over 18 months ago, and in the six months since the state’s regulatory agency began accepting applications, medical marijuana is still not open for business.

There are a number of factors for why no license has been awarded, however one of the largest roadblocks is that marijuana business owners are finding it difficult to access to traditional banking services.

Michigan lawmakers project that cannabis could grow up to $837 million dollars in the first year, but with nowhere to secure their cash, many businesses are struggling to stay above board.

Thankfully, as the industry has matured in other states, cannabis businesses now have access to traditional, regulated, banking services, which gives business owners peace of mind knowing that their money is secure.

Securing your money may make the difference between whether or not your cannabis business is awarded a license by the Michigan Medical Marijuana Licensing Board.

If you need banking, Higher Yields Consulting has you covered. We’ve partnered with top financial institutions that are ready and willing to work with your business and provide the services you need.

HOW CANNABIS BANKING WORKS

 

The first step is doing an evaluation of your cannabis business to examine whether or not it is in compliance with FINCEN (Financial Crimes Enforcement Network). Once you’ve successfully completed this process, we submit your information to participating financial institutions and work to find the best one that suits your needs.

We then provide the support and services based on your business needs. This includes monitoring your account and integrating and syncing your POS for reporting and verification by your new financial institution.

KEY BENEFITS of CRB BANKING

 

We foster a direct banking relationship with an established financial institution. This gives you access to checking and savings accounts with check writing, in addition to armored carrier services and vaulting for your cash.

You will also have access to tax and payroll services that allow you to not only pay your employees with actual paychecks and potentially direct-deposit, but also easily withhold for taxes and avoid any penalties associated with paying for your taxes with cash.

Contact us to get your business financial stability today. 

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Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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Cannabis Banking Services in Nevada

cannabis banking

Cannabis Banking Services in Nevada

Blast The Barriers In The Nevada Cannabis Industry With Regulated Banking

 

After only 10 months into the fiscal year, cannabis is a $434 million industry in Nevada. The economic potential is staggering, however many marijuana businesses face major hurdles and security concerns when it comes to stashing their cash.

The projected revenue for the US cannabis industry is expected to exceed $10 billion in 2018. With so much money passing hands, it’s incredible to consider that the industry is still mostly cash-operated.

The unfortunate fact is that many traditional financial institutions simply aren’t willing to work with marijuana businesses, and the difference between a business being awarded a license may come down to whether or not they have legitimate banking services.

One of the largest challenges facing business owners in the cannabis industry is securing their capital. For years, businesses have not had a reliable solution to their banking needs and had to rely on cash-only transactions to sell their products.

Operating a cash-only marijuana business not only creates a lot of barriers to financial security and the needs of running a modern, successful company, but also increases the risk of crime, money laundering, financial corruption, and the violation of state marijuana laws and regulations.

Thankfully, as the industry has matured, cannabis businesses now have access to traditional banking models that are regulated, which gives business owners peace of mind knowing that their money is secure.

If your marijuana business needs banking services, Higher Yields Consulting has you covered. We’ve partnered with top financial institutions that are ready and willing to work with your business and provide the services you need.

HOW CANNABIS BANKING WORKS IN NEVADA

 

The first step is doing an evaluation of your cannabis business to examine whether or not it is in compliance with FINCEN (Financial Crimes Enforcement Network). Once your business has successfully completed this process, we submit your information to participating financial institutions and work to find the best one that suits your needs.

We then provide the support and services based on your business needs. This includes monitoring your account and integrating and syncing your POS for reporting and verification by your new financial institution.

KEY BENEFITS OF CRB BANKING SERVICES

 

We foster a direct banking relationship with an established financial institution. This gives you access to checking and savings accounts with check writing, in addition to armored carrier services and vaulting for your cash.

Contact Higher Yields Consulting to help evaluate your banking needs. 

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Higher Yields Cannabis Consulting

Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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Massachusetts Cannabis Related Business Banking Services

cannabusiness banking

Massachusetts Cannabis Related Business Banking Services

The Massachusetts Cannabis Control Commission began issuing its first recreational licenses to marijuana businesses this week, however non-medical sales are likely weeks away.

The state has seen a slow roll-out of its new recreational cannabis law, much in part due to the reluctance of banks and traditional lenders to work with marijuana businesses.

Because of this, industry executives predict that less than a dozen cannabis retail locations will open in Massachusetts before the end of July. However, if you plan to open a retail location or other cannabis business in the Bay State, you can jump ahead of the competition and have access to traditional, regulated banking models that secures your cash and gives you peace of mind to run your business.

Higher Yields Consulting has your banking needs covered. We’ve partnered with top financial institutions that are ready and willing to work with your business and provide the services you need.

HOW CANNABIS BANKING WORKS

 

The first step is doing an evaluation of your cannabis business to examine whether or not it is in compliance with FINCEN (Financial Crimes Enforcement Network). Once you’ve successfully completed this process, we submit your information to participating financial institutions and work to find the best one that suits your needs.

We then provide the support and services based on your business needs. This includes monitoring your account and integrating and syncing your POS for reporting and verification by your new financial institution.

KEY BENEFITS OF CRB BANKING

 

We foster a direct banking relationship with an established financial institution. This gives you access to checking and savings accounts with check writing, in addition to armored carrier services and vaulting for your cash.

You will also have access to tax and payroll services that allow you to not only pay your employees with actual paychecks and potentially direct-deposit, but also easily withhold for taxes and avoid any penalties associated with paying for your taxes with cash.

All of this allows you to run your cannabis business more effectively and safely. With the increased security of depositing your daily receipts, minimizing the amount of cash passing through hands at your business, and receiving an ongoing level of service that is in compliance with FINCEN, you can focus on what matters most: growing your business and offering a superior level of quality and service to your customers.

Contact us at Higher Yields Consulting to get your business a banking account today

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Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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New York Cannabis Licenses

new york cannabis licensing

New York Cannabis Licenses

Legal Cannabis Is On The Horizon in New York. Here’s What You Need To Know

 

New York was late to the game when it legalized medical marijuana in 2014, and they are now feeling the pressure as other states along the east coast have either already legalized recreational use, or are heavily considering it.

Prospects look positive as state officials seem to be reversing their positions from seeing cannabis as a gateway drug, to something that will generate revenue for the state and decrease costs in their criminal justice system.

As of right now, The Marihuana Regulation and Tax Act – New York Senate Bill S3040A – is sitting in the state legislature under financial review. Similarly, NY Governor Andrew Cuomo, who was only until recently a staunch opponent of cannabis legislation, announced a study led by the New York Health Department to determine the reality of legalizing in the state.

Cleary, New York is outnumbered by many of its neighbors, including Canada, who already see the marijuana regulation as a net positive.

And, with a population that is tired of the illegality of cannabis and ready for a recreational model, it seems pretty clear that New Yorkers will soon be able to indulge in the fastest growing industry in the United States.

When New York legalizes recreational use, it will be huge opportunity for businesses to establish a foothold in the industry. There are steps you can take right now to be the most prepared for when the new law goes into affect.

Some of these next steps are to create a corporate structure, develop a business plan, and create an economic development plan, which includes working with local municipalities and determining the right location for your business.

The cannabis industry is complex, always evolving, and sometimes very difficult or time-consuming to navigate. At Higher Yields Consulting, we are experienced marijuana consultants providing innovative business solutions to meet all of your needs.

Whether you’re brand-new to the industry, or looking to expand, working with us will give you a competitive edge and maximize your success.

Contact us at Higher Yields Consulting to optimize your business for success. 

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Higher Yields Cannabis Consulting

Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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Uniforms and Code of Conduct Agreements: You Don’t Get a Second Chance to Make a First Impression

cannabis branding

Uniforms and Code of Conduct Agreements: You Don’t Get a Second Chance to Make a First Impression

First Impressions

 

For a moment, try to imagine yourself walking into a fine dining restaurant. The walls, decadent with brilliant art; the ceiling, intricately laced with gold leaf. The first drink of the night starts off at the front bar as you wait for your table to be prepared. From the greeter, to the bartender, the staff is absolutely lovely, friendly, and enthusiastic. As you’re guided to your seat, you notice a crystal chandelier delicately dangling in the center of the room. You are being sat at the V.I.P. table. The greeter sits you down, places menus gently before you and tells you that your server will be with you shortly. Skimming over the menu with your eyes, your mouth waters from the savory smells invading the air around you. Moments later, the door to the kitchen swings open and a dude in dirty jeans and a band T-shirt, rockin’ a sideways ballcap, bursts out and swaggers his way over to your table. Obviously hungover, he smells like a half-drunk anti-deodorant activist. He stops at your table and, through slimy teeth, slurs out “Hey yo – Hey yo. You thinkin’ food dude or are you just gonna cruze on some booze?”

The question here is, do you walk out before or after you finish your drink? There’s no question that we will not be dining here tonight, nor will we ever bring a client here for a business anything. The deeper question is, how often do we allow our staff to do this to our establishments?

 

 

Impressions and the Cannabis Culture War

 

Especially in the world of cannabis, we are having to fight a culture war to foster a responsible use culture and make a professional industry from something that, for over 80 years, has been a hobby for some and an outlaw lifestyle for others. When patients walk into your establishment (which you’ve taken the time to build out, decorate, choose and stock display cases for, & pour your blood sweat and tears into crafting), do your staff match the decor? Do they carry themselves professionally or are they “bro-dude-ing” the professionalism right out of your patient’s experience?

Some business owners feel uncomfortable setting harsh boundaries and expectations with employees and making high demands of detailed elements like “how one speaks”, as it definitely feels like micromanaging. Yet, in states where THC products are still under prohibition, employees at smoke shops still have to swear on their jobs that everything in the store is for tobacco use or incense burning only. They don’t have a single “bong” for sale, but have quite the selection of “water pipes”. If you go into a fine dining restaurant, everyone’s shirt is freshly laundered and pressed, there is no leaning on the counters or bar, service is friendly and efficient, and no one is being even remotely crass when dealing with a guest. Everyone’s language is kept clean, and professional.

Why is it, that people will conform to those standards when working at a restaurant, but when you ask your employees to make sure their pants are clean before they come in or to stop using slang terms with the patients, they seem so resistant? Is it your expectations and consequences? Bad training? Maybe you don’t yell at them loud enough… I would argue that it’s the culture of our industry as a whole. This is both bad and good news. It’s bad news when looking at the typical person who’s dream life is to move to a legal state and work as a bud-tender and trimmer. They’re usually not as excited about a career in retail as they thought they would be, and their bright, over-the-top, enthusiasm quickly dissolves into lethargy.

 

 

Enforcing Employee Codes

 

For a lot of us who grew up in restrictive cultures and harshly anti-cannabis states, legal states make dispensaries sound like Willie Wonka factories for weed heads. When people get in and learn that it’s just another retail job, it can rot a good apple quickly. It’s also a bad idea to have alcoholics as bartenders, foxes as chicken coop guards, and people who obsess about your product directly over with it. True, at a wine bar you will have staff tastings where staff are asked to taste the products so they can speak about the products from experience, they are also asked to spit the wine out as the go through the tasting so the intoxication doesn’t dull their training experience. Yes, you want your employees to be able to speak in an educated way about the products. You also want your employees to speak in an educated and professional way in general.

It is okay to set boundaries and expectations for conduct and appearance at your dispensary, in fact, as the owner, it is your job to craft the corporate culture of your business. Cannabis branding is not just about a logo. The logo’s job is to give the consumers something to associate with their experience of your product and service. Brands such as McDonalds and Nordstroms denote a specific level of both quality and service in our minds. Ever wonder what “successful branding” really means? Just this… Over the past several decades, the businesses that maintained consistency in the quality of their products and services, are now commonly known for them. It’s really just that simple.

 

Your Brand is Your Personality

 

No one goes to Taco Bell because they’re looking for an organic vegan meal. No one goes to IHOP for a great steak. So where does your business fall into the spectrum of the businesses around you? Would people say that your cannabis retail location is the corner store dispensary or do they call you the fine dining of local cannabis goods? Further, if you do find yourself on the lower end, what is one simple solution to increase brand recognition, create more staff compliance, and increase the professionalism of each patient’s experience? Uniforms and Code of Conduct agreements.

Having your brand literally in front of the patient the whole time of purchase will certainly help associate your brand with their experience more than, let’s say, doing nothing. It also allows you, as the one who chooses the branded uniforms, what level of professionalism your employees will come dressed in every day. Instead of doing T-shirts with wacky graphics and bright colors, consider embroidered dress shirts. Instead of telling your employees to wear whatever pants are comfortable, or just setting limits like “no yoga pants” and “pants must be worn at the waist”, consider setting the expectation of “Pants must be black, properly fitted, dress slacks, worn at the waist and held up by either a belt or suspenders”.

 

 

Resistance From Employees

 

You will always face resistance from employees when changing policies like this, though if given a 60 day compliance period, most employees will either comply, or sort themselves out of the mix. After 6 months, the change will be the new norm. As your business grows its reputation for being more reputable, higher level employees will seek you. Just as the quality of your light attracts bigger bugs in the night, the quality of your cannabis branding can attract new partners, investors, and employees who are looking for others who “take it seriously”.

This is where we leave you with this choice. What will you do with your business and brand? Tomorrow when you go into your shop, check their pants and shoes, then ask yourself if they would be allowed to serve a sandwich and bowl of soup at a restaurant dressed the way they are. Ask: if my waiter was dressed like this, what would I assume of the quality of my upcoming meal? Remember, that it’s never too late to re-brand, until it’s too late to re-brand. If you’re noticing that your profits have hit a plateau, it’s time to choose; grow or die. Sometimes upgrading your business starts with upgrading your staff.

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Higher Yields Cannabis Consulting

Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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Medical or Recreational Cannabis Licensing: What Type Should You Choose?

medical cannabis licensing

Medical or Recreational Cannabis Licensing: What Type Should You Choose?

Medical vs. Recreational Cannabis Licensing

The cannabis industry is in a serious boom time. As state after state continues to open up regulated cannabis markets, the opportunity for new businesses to enter the cannabis space is huge – and only growing. Still for many just starting the process of applying for cannabis licensing, there is one big question to consider: should you be applying for a medical or a recreational cannabis license?

While many states make this choice easy, by allowing for only medical cannabis, states with recreational cannabis often offer both options. This gives applicants an important choice between becoming a medical or recreational cannabis business. Whether you are building a dispensary, a grow facility, an extraction lab, or an edible brand, your status as a medical or recreational cannabis business can affect your success in the long term. So it’s important to consider the options carefully and make sure that you are making the best decision for your brand.

Trying to decide for yourself? To help with your decision, we’ve outlined some of the main factors that smart cannabis businesses use when determining which license type to go for. Read on to see what considerations might apply to your cannabis business.

Reasons to Apply for a Recreational Cannabis License

Thinking about applying for a recreational cannabis license? You aren’t the only one. In states where there is an option, most businesses go with the recreational license. In fact, it is such a big trend that in states with recreational licenses, medical cannabis businesses seem to be dying out almost entirely. Why? Well there are a few reasons that businesses overwhelmingly choose recreational:

1. Recreational cannabis has a broader audience.

One of the main reasons that businesses prefer to apply for recreational licenses, is the broader audience that recreational cannabis can bring. While medical cannabis can only be purchased by someone who has had it recommended by a doctor, recreational cannabis can be purchased by anyone of age. This expands the potential reach of your brand considerably, and removes an obstacle your customers would have to navigate in order to purchase from you. As a cannabis business plan, it just makes sense.

2. Recreational businesses don’t have to deal with medical regulations.

Similarly, recreational businesses also don’t have to deal with the paperwork and business processes associated with medical cannabis. With medical cannabis businesses, all clients have to have up-to-date doctor’s recommendations for medical marijuana. Making sure each customer has their paperwork in order can be a big logistical headache. Recreational makes things simpler by eliminating these requirements.

3. Recreational has more income potential.

Ultimately though, the real reason that businesses choose recreational is simple – recreational cannabis businesses have more income potential. With a much broader audience, that can include recreational and medical cannabis users, the recreational space offers more potential for growth and success.
If you can apply for recreational cannabis – you probably should. From a financial standpoint, recreational cannabis is the almost always the best choice.

medical marijuana

Reasons to Apply for a Medical Cannabis License

While a recreational cannabis license is an obvious first choice for those who have the option, there are also sometimes good reasons why people choose to apply for a medical cannabis licenses. Even in states with both, in some cases, medical could be the right option for the particular business applying. Here are some of the main factors that lead people to choose medical:

1. There are no recreational licenses (yet).

Likely the biggest reason to apply for a medical license is simply lack of options. In states or towns with only medical licenses available, businesses will have to apply for medical in order to become licensed at all.

Still, even if your eventual goal is to become a recreational cannabis business, applying for a medical license can be a crucial step in the right direction. “Generally you want to get the first medical license because the people who get the medical licenses will have the first chance to convert into recreational states,” explains Cory Waggoner, Founder and CEO of Higher Yields Cannabis Consulting. In competitive states, such as on the east coast where there’s only 5-10 licenses they are handing out, getting one of those first medical licenses can put you in the best position to go recreational when it eventually opens up in your state. As a cannabis businesses that’s already functioning and operating, and has been through the cannabis permitting and licensing process, you will be in a great position to apply for a recreational license.

2. You are targeting the medical market.

Another reason to go medical is because you are targeting a specific demographic that is more likely to choose a medical brand. There are still a lot of people who want medical cannabis, specifically. If you are target marketing medical patients, it may make sense to go with a medical license. Take California, for example, where cannabis is taxed at a higher rate for recreational users than it is for medical patients. In states with this kind of tax difference, many patients don’t want to pay the extra taxes, and so may be more loyal to medical businesses. As more and more businesses target the recreational sector of cannabis, smart entrepreneurs may be able to make a strong niche for themselves outside of the adult-use market.

3. The medical regulations may work better for your brand.

A final consideration that might push some businesses towards medical is the differing regulations for medical and recreational products. While you might think that cannabis compliance would be stricter for medical, in some cases it is just the opposite. For example, in Colorado, you didn’t even have to test medical marijuana until a recent change in the regulations. While recreational cannabis had to be tested for contaminants like mold and pesticides, medical was allowed to go to market untested. These more relaxed regulations may have worked better for some brands. Medical markets also sometimes allow for edibles to be sold with higher dosing. In California, for example, edible dosing for recreational cannabis products are capped at 100mg per package. However medical cannabis businesses can offer products with dosing as high 2,000mg per package. If you are a brand who focuses on high potency edibles, a medical license may work better for your product line.

The Best of Both Worlds: Applying for Both Medical and Recreational

Of course another option is to simply apply for both medical and recreational licenses. This move may be your best option, if you can afford it. For one thing, it lets you serve everyone – which increases your income potential considerably. On the down-side you will have to pay fees for each individual license, and may need separate locations and cannabis tracking systems for each side of your business. Still, this option hedges your bets in a big way, especially if your local government seems likely to waver on recreational cannabis. “If they have a moratorium for a few years and then they decide they don’t want cannabis anymore, they’re probably going to start with recreational” explains Waggoner. Having both medical and recreational could help your business survive even if recreational cannabis businesses are shut down.

Do You Need Help Deciding Which Cannabis License Type Is Right For You?

So which option should you go with – a medical or recreational cannabis license?

“I think it really just comes down to opportunity,” says Waggoner. “Where’s the opportunity to make money?” The answer really depends on your particular cannabis business plan, and the regulatory landscape in your state and city. The opportunities available to you makes all the difference in answering this question.

Need some help deciding? At Higher Yields Consulting, our knowledgeable staff has helped over a 100 cannabis businesses through the process of cannabis permitting, licensing, and achieving full cannabis compliance. Our clients have achieved licensing success in more than 13 merit-based states and 7 countries, and we are happy to assist your business navigate the complexities of cannabis licensing.

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Higher Yields Consulting is a Marijuana Consulting Group comprised of industry experts with decades of combined experience in the legal industry. Whether you are looking to get into the business or already have a license we can help your business succeed. Call (844) HI-YIELD to schedule a free initial consultation.

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