The Benefits & Limitations of Cannabis Delivery & Transport

The Benefits & Limitations of Cannabis Delivery & Transport

The cannabis licensing process can be long and confusing, and it doesn’t help that there are so many options. Each state offers different types of licenses and refers to them by different names. Cannabis delivery and transport licenses are no different and can easily become overwhelming if you don’t understand them.

The Benefits & Limitations of Cannabis Delivery & Transport

As is true with any cannabis license, you have to know what you’re getting into. A transportation license is not the same as a delivery license. Each has its own benefits and limitations. Knowing these will help you choose the best option for your business.

This is what your cannabusiness needs to know about cannabis delivery and transport licenses.

What Are Cannabis Delivery & Transport Licenses?

Although the lines between transport and delivery are blurred in some states, more often than not, they require two completely different types of licenses. Understanding the function of each license can help you determine which type best accommodates your business.

A cannabis transport license essentially acts as a courier license. Licensees may move product from point A to point B, so long as both points are licensed businesses. Transport licenses do not include delivery to consumers.

Delivery, on the other hand, allows the movement of product from a licensed business to the end consumer, only. A delivery licensee cannot move product from one business to another.

Neither cannabis delivery nor transport licenses allow for the interstate movement of product. All licenses exclusively pertain to the transportation or delivery within the borders of a particular state.

Cannabis Delivery & Transport by State

With the cannabis industry regulated wholly at the state level, some key differences exist in transport and delivery between states. Keeping up with where states differ on cannabis delivery can help determine the best state to do business in.

Cannabis in California 

When it comes to cannabis delivery, California is the OG. The state’s laid-back attitude toward delivery has made it a beyond-popular way for consumers to enjoy edibles, flower, cartridges, and more. In fact, it’s become so pervasive that you’d have a tough time finding a stretch of highway without a billboard for cannabis delivery.

Often referred to as “non-storefront retail,” cannabis delivery is beginning to replace brick-and-mortar operations. Part of its appeal comes from delivery licensees’ ability to deliver to consumers across municipality boundaries.

It’s also worth noting that California does not offer a cannabis transport license. Instead, businesses require a distribution license to move product from one business to another.

While transportation and distribution licenses are pretty similar, some differences still exist. For example, a cultivator in California cannot use branding on its products. Rather the distributor handles the packaging, labeling, and branding of all products — in addition to moving them from business to business.

Colorado

Way back in 2014 — on a day known as Green Wednesday — Coloradans flooded dispensaries to buy recreational marijuana for the first time. However, it took many years for cannabis delivery to be permitted. 

Colorado saw the first delivery license for medical marijuana issued in the spring of 2020, and it wasn’t until 2021 that Denver allowed the delivery of recreational marijuana. Though cannabis delivery has grown more popular in the age of social distancing, it hasn’t taken off nearly as much as in California.

The Benefits & Limitations of Cannabis Delivery & Transport

Although delivery is relatively new to the Centennial State, cannabis transport has been around for some time. Referred to as a courier license, it allows licensees to move product between licensed businesses. 

Additionally, all regulated marijuana businesses in Colorado are granted some transport privileges, as well. 

New Mexico

Under the Cannabis Regulation Act, recreational marijuana became legal in New Mexico on June 29, 2021. This nascent cannabis market presents unique opportunities as well as challenges for cannabis delivery and transport. 

Knowing and understanding the nomenclature in your state is crucial. Applying for a courier license in Colorado means you’re a transporter, but being a courier in New Mexico means you deliver directly to consumers. 

Working with a professional can help you understand the different types of licenses and decide which is best for you. It also prevents you from accidentally getting into cannabis delivery when you really wanted to get into transportation.

New Mexico’s legislation also shows some promise for the future of cannabis delivery. In anticipation of federal legalization, lawmakers included provisions for interstate commerce, when it becomes legal. If your operation has big future plans, New Mexico may be the place to go.

Massachusetts 

With transport and delivery licenses, the Bay State continues to manage cannabis properly. State officials took their time rolling it out, but when they did, licenses were clear and straightforward, making it easy for existing businesses to move into the space with little confusion.

Since they launched the program, cannabis delivery and transport have taken off. Massachusetts business owners have even been pairing licenses to maximize success, much like what we’ve seen in New York.

How to Win a Cannabis Delivery or Transport License

No matter what state you’re in, there are a few general guidelines to follow when applying for a transport or delivery license — the biggest of which is staying compliant. Keep up with regulations and changes so that you can be ahead of the curve and avoid any costly penalties.

Your business must also be compatible with your state’s mandated tracking software — in California, Colorado, and Massachusetts, this is Metrc. However, relying solely on Metrc can be problematic.

Using a supplemental software, like OnFleet, that matches the needs of your business keeps operations running smoothly. In addition to tracking products, OnFleet allows you to consolidate routes, scale your business, and maximize efficiency.

At the end of the day, a successful cannabis delivery or transport business must be prepared for scrutiny. The state will keep a close eye on you, so take all the necessary steps to protect yourself. 

Although the barrier of entry is still low for transportation and delivery, cannabis is still a highly regulated industry laced with critical compliance benchmarks. In order to maximize your time and money, work with an experienced professional.

Book a consultation today to explore your options for securing the best license for your business.

Licensing & Business Considerations for a Successful Cannabis Lounge

Higher Yields Consulting Licensing & Business Considerations for a Successful Cannabis Lounge

As you plan to open a new cannabusiness or expand your existing operation, you’ll find there are a number of new licenses that may prove lucrative. One such new license is the on-site consumption license, which can be used to open a cannabis lounge. 

Higher Yields Consulting Licensing & Business Considerations for a Successful Cannabis Lounge

With the introduction of these on-site consumption licenses, there is great opportunity to influence the next stage of cannabusiness growth. But there are also limitations on these licenses that vary from state to state — and even by municipality. 

Read on to learn more about on-site consumption licenses and what you should consider if you are planning to open a cannabis lounge. 

States With Provisions for On-Site Consumption Licenses

Several states have provisions for on-site consumption licenses, but their requirements vary. While some states allow for a standalone on-site consumption license, others require that it be attached to another license, such as retail. 

The states with provisions for on-site consumption licenses include: 

  • Alaska: No cannabis lounges are open yet due to COVID-19 shutdowns
  • California: Cannabis lounges already operate.
  • Colorado: Allows cannabis lounges at a local level, in certain municipalities.
  • Illinois: Allows cannabis lounges, but without edibles.
  • Massachusetts: Allows cannabis “cafes.”
  • Nevada: Allows cannabis lounges, both with a standalone license and in conjunction with an existing retail facility
  • New Jersey: Has provisions for cannabis lounges, listed as cannabis consumption areas.
  • New York: Has provisions for cannabis lounges, and they can be standalone licenses.
  • Oregon: Cannabis lounges already operate.
  • Pennsylvania: There is only one cannabis lounge in the state, and it’s only open to medical cardholders.

Emily Seelman, Senior Technical Writer for Licensing and Legalese at HYC, notes that in some states, it’s up to the municipality to allow cannabis lounges or not. So you might be better off checking whether your municipality will allow it before you even look at the state at level. 

Obtaining a License for Your Cannabis Lounge 

The state in which you plan to operate will affect how easy it is to obtain your on-site consumption license. In some states, existing retailers can get an endorsement to also allow for on-site consumption. But, as noted above, other states allow you to apply for a standalone license.

According to Seelman, if your goal is to open a cannabis lounge, the standalone license is probably the better option. Without it, you’ll have to go through the competitive application process for a retail facility. 

If you plan to operate in Nevada or Massachusetts, especially, look into whether you qualify for social equity, as they’re planning to open up specific social equity licenses. A social equity license may help reduce your fees, but keep in mind that you’ll still be competing for the license. 

Nevada is also a great choice if you’re only interested in opening a cannabis lounge. The state is offering both the standalone license and one attached to a retail facility, which could open up opportunities for more people to get into the industry at once. 

Higher Yields Consulting Licensing & Business Considerations for a Successful Cannabis Lounge

Another state to consider for your cannabis lounge is New York. The state is taking a pretty open stance on public consumption that allows for cannabis consumption even on sidewalks, so it’s likely they’ll take an open approach to lounges, too. 

Seelman predicts that cannabis lounges will become like high-end bars, with controlled environments and — as New York is currently exploring — sound mitigation. However, one consistency across states is that no alcohol is allowed on cannabis lounge premises. 

Designing Your Cannabis Lounge Facility

If you are considering opening a cannabis lounge, HYC’s Design Build Director, Jesse Larson, says the facility itself is the all-important base of the business. “I’ve seen businesses with great teams, great work ethic, and great product fail because of poor facility design,” he notes. 

Unfortunately, some municipalities have made it extremely difficult for new facilities to enter the area, limiting or even eliminating opportunities for cannabusinesses that are not multi-state operators or corporations. Denver, for example, has made it more difficult to construct new businesses or modify existing structures. 

As a result, it’s tough to plan, design, build, and operate an ideal facility. But the facility is crucial to the success of a cannabis lounge, because you have to draw people in and make them want to stay. Larson observed that e-cigarette lounges learned this the hard way, as customers went in looking to make their purchases and get out — not linger.

As you plan your facility, Larson recommends considering how people want to experience cannabis, and how you can facilitate that experience:

  • Education. Give people a place to learn how to safely enjoy consuming cannabis.
  • Welcoming atmosphere. Think of a cannabis lounge as similar to a coffee shop, where people feel comfortable passing the time. 
  • Entertainment. Sometimes people want to sit and space out; other times they want to be entertained through media, food, beverages, etc.
  • Conversation. People crave social interaction. More than just a place to smoke, they’ll come to a cannabis lounge looking to socialize.

Finally, do whatever you can to create less of a burden on the customer to come in. Partnerships with Uber and Lyft, for example, can remove concern over potentially driving under the influence, encouraging more people to come inside and stay a while.

A New Standard for Cannabis Consumption

Remember that on-site consumption licenses and cannabis lounges are new. We’re setting a standard for the cannabis industry, so we have a responsibility to do it right and pave the way for future generations of cannabusiness owners.

Before you dive into the application process, it’s vital that you determine the most lucrative path for you and the actions that will best set you up for success. 

With New York’s licensing round just around the corner, give yourself the best chances of success with a strategic plan from our industry experts. Get in touch with HYC for a Feasibility Study today!

What You Need to Know Before You Decide to Sell Your Business

Higher Yields Consulting What You Need to Know Before You Decide to Sell Your Business

In a saturated cannabis market like Oklahoma, it’s extremely difficult for small businesses to get off the ground and be able to compete. So if you’re struggling as a cannabusiness owner, you may be wondering if it’s time to sell your business and get out altogether.

However, if you know how to look at a distressed business the right way — and if you have the right experience — there are still opportunities to make it work. Once you identify why your business is in distress, you can determine the best move forward — whether that be selling your business or not.

Higher Yields Consulting What You Need to Know Before You Decide to Sell Your Business

Read on to learn what might be causing your business to struggle and how to decide whether you should sell your business.

Why Are Cannabusinesses Struggling?

According to Anthony Edward, HYC’s Director of Business, cannabusinesses fall into distress for several reasons. “It’s a trifecta of lack of funding, lack of support and help, and lack of output or foreseeable growth,” he says.

One of the biggest mistakes we see is that people get into the industry and underestimate timelines, resources, and budgets. Markets like Oklahoma are so easy to get into that people jump right in without knowing what they’re doing. They assume that because marijuana is a weed, it’s going to grow itself. But it won’t. 

Businesses that don’t know what they’re doing end up running out of money before even getting off the ground. Sometimes they grow inefficiently and have to charge higher prices for low-quality products. Other times they fail to ensure compliance from the start, which ends up costing more time and money in the long run.

And, as Edward points out, these issues can stem from a lack of viable operators who are taking the business seriously. “We’ve spoken to several businesses in Oklahoma that were struggling with operators, head growers, or general managers,” he says. “It’s eaten into their profitability, efficiency, and also the quality of their products.”

People get into the industry thinking they can get these astronomical revenue numbers they see in other states. But without understanding their own markets, they greatly overshoot their projections and underperform. So the question is, can you recover from early-stage missteps, or might it be time to sell your business?

What Options Does a Distressed Business Have?

If you’re struggling in one or more of the above ways, you may think that your only option is to sell your business — and that is one option. 

If you do choose to sell your business and exit the industry, make sure you do so properly. According to Edward, with expert help, you could at least get some of your investment back or be made whole on it. 

But selling might not be your only option. Many people don’t think about marketing and branding until it’s too late, but improving this one area could increase your traffic and sales. Work on standing out from the crowd by establishing a credible online presence and improving your overall customer experience.

Higher Yields Consulting What You Need to Know Before You Decide to Sell Your Business

A third option is to reinvest with the right partners. If you’re only missing one puzzle piece — that is, if it was simply one bad decision or mistake that put your business in distress — you could greatly increase its equity value by bringing on the right partners and making small investments in the right people.

Whether you ultimately decide to sell your business, improve it, or reinvest, you’ll need to figure which path is best for you and pivot in a way that mitigates risk. 

Is It Time to Sell Your Business?

As you consider whether you should sell your business, Edward advises evaluating your situation to get clarity on where you are right now, what your vision for the business was, and the gap between the two. 

Be willing to approach the decision unemotionally and with an open mind; it can be hard to give up on your dream, but this needs to be a business decision, not an emotional one. 

If you want to sell your business, take the time to get your financials and lease documents in order. Your business will look better to a potential buyer, thus increasing your likelihood of making a sale.

Make sure that additional management or investor partners are also ready and willing to be involved in making the decision, even if it’s a hard one to make. 

Finally, seek out help from experts. As Edwards says, “be open-minded to directional leadership from experts in the industry. Be ready to engage and have a dialogue, and keep everything on the table until it’s not on the table anymore.” Relying on expert guidance will equip you to make the most rational, well-informed decisions. 

Are you ready to take an in-depth look at your cannabis business? Before you decide to sell your business, get in touch with the expert consultants at Higher Yields Cannabis Consulting.

Corrective Action for Cannabis Businesses: Your Plan B Blueprint

Higher Yields Consulting Corrective Action: Your Plan B Blueprint

Every cannabis business runs into its fair share of unexpected problems that require corrective action. In the early stages, it might be construction and licensing problems. Down the road, it might be METRC compliance and branding issues.

Higher Yields Consulting Corrective Action: Your Plan B Blueprint

Knowing when to take corrective action can be challenging, and waiting too long can lead to escalated complications. It’s crucial that you pursue corrective action in your cannabis business as soon as you suspect that you have a problem. 

So how exactly do you pinpoint and address the issues that require corrective action? Read on for everything you need to know about taking corrective action in your cannabis business.       

Common Issues That Require Corrective Action

To mitigate your cannabis business’s need for corrective action, it helps to arm yourself with the knowledge of the most common issues that arise. When you know what problems to look out for, you can take preventative action to avoid them.

Here are four common issues that often require corrective action.

Licensing

A license application can range from 200-300 pages in length to as many as 1,600 pages or more, depending on the level of competition in your state. Your application will require detailed plans, procedures, and policies. If your answers are too brief or simply don’t cover the requirements, your license will be rejected.

When your license application is approved, remember – your proposed plan is a definite promise. Not a loose agenda. Your state will expect you to follow the precise plans that you submitted. If change your plans, you’ll need to submit a new report to reflect those changes. 

If your plans are not executed as promised, your business will need to take corrective action to get back on track and avoid further consequences.

To say the least, you put yourself at a huge disadvantage when you set out to complete the application on your own. For your greatest chance of success, consider hiring an architect, an accountant, a lawyer, and a consultant like HYC.

Construction & Building Design

Once your license has been approved and you’re ready to move forward with your plan, you will need a licensed architect and an engineer to satisfy state requirements. You will also need a plumber, an electrician, and an HVAC technician

You’ll need to pass inspections along the way to ensure your design and build match your original licensing plan. Any inconsistencies will halt your progress until they are addressed. 

Business owners often neglect to consider the various moving parts of a commercial construction project. Without a specific timeline, for example, an entire project can be pushed back for weeks or months.

Higher Yields Consulting Corrective Action: Your Plan B Blueprint

By taking immediate corrective action for construction and building design, you can rectify a problem in just four to five months. Seeking corrective action later in the process, on the other hand, requires recalibrating, rescheduling, and getting everyone on the same page. This process can take up to an entire year.

Branding 

There is an emotional layer to branding that may compel business owners to gamble a portion of their investments away. But if your branding is not aligned with your customer base, taking corrective action may, unfortunately, mean starting over. 

It’s essential to appeal to the needs of your customer. Even more important than a cool logo is an atmosphere and brand image that fit the market and draws in your intended customer.

If you don’t feel like you’re equipped to move forward with your branding, take a step back and evaluate why you’re not ready. It will save you hundreds of dollars on rebranding in the future. 

METRC

METRC is a tracking process that follows the life of a seed to its final purchase point. New entrepreneurs commonly face dilemmas with METRC because the system is perceived to be straightforward. However, without proper education on how it works, businesses can easily fall out of compliance with local and state regulations. 

When the appropriate methods are not followed, corrective action for METRC compliance can involve becoming compliant, retraining employees, and creating new oversight

When It’s Time for Corrective Action

Perhaps you’re concerned about exposing your data to a third party. Or maybe you fear repercussions that could result in trouble for you. Whatever the reason, putting off addressing your business’s problems will only lead to worse problems in the future that may be more costly to solve. 

HYC is not here to punish your business for not being compliant but rather to support you in becoming compliant so you aren’t fined or shut down. If you’re confused or unsure of your next steps, it’s time to take a step back and look at the big picture. 

What Corrective Action Looks Like 

There’s no single way to take corrective action. Depending on the problem, budget, and available resources, the process will look different for every cannabis business. Regardless of the problem, the process includes evaluating a problem and taking the steps to resolve it.

In Oklahoma, for example, all cannabis dispensaries will soon be required to use the METRC tracking system. As a result, many businesses are scrambling to take corrective action to learn and implement the system. That’s where we come in.

At HYC, our job is to support cannabis businesses in handling these common errors. Our team has the expertise to make sure that your business is following your licensing application and meeting all state and local regulations. 

To prevent painful and expensive errors and take corrective action for your cannabis business, schedule a  consultation today.

Oklahoma Cannabis Licenses

cannabis license consulting

Oklahoma Cannabis Licenses

Oklahoma Legalized Medical Marijuana Apply For Your Cannabis License

Oklahoma became the 30th state to legalize medical marijuana for adults 18 years and older. The state’s measure is unique in that it does not list qualifying conditions for an individual to obtain a medical marijuana license, as compared to other states, which will make it easier for people to use cannabis for medical purposes. In turn this also makes acquiring an Oklahoma cannabis license much easier than originally planned for. Oklahoma has a big hole to fill because the demand for medical marijuana, with 56% of the population supporting the new law, will be high. This is a rare opportunity for individuals and businesses because they have an opportunity to become established from the ground up very early on. As of right now, Oklahoma is finalizing the licensing information and application requirements for those who wish to open a new marijuana business. The final details will be made available to the public by July 26, 2018, and the Oklahoma Medical Marijuana Authority will begin accepting applications no later than August 25, 2018.
Do You Need Help With Cannabis Consulting Services in Oklahoma?
Our staff of in-house cannabis consultants can help you with your cannabis related business in Oklahoma. Whether it be startup services, facility design-build, real estate, marketing and branding, or compliance we can help. Schedule a consultation today to get started.

Types of Cannabis Licenses in Oklahoma

According to the text of State Question 788, there will be three license categories available for new businesses:

Medical Marijuana Dispensary License – a licensed medical marijuana retailer may conduct retail sales of marijuana, or marijuana derivatives in the form provided by licensed processors, and those products can only be sold to a medical marijuana license holder or their caregiver. Commercial Grower License – a licensed commercial grower may sell marijuana to a licensed retailer, or a licensed packager. Further, these sales will be considered wholesale sales and not subject to taxation. Under no circumstances may a licensed commercial grower sell marijuana directly to a medical marijuana license holder. A licensed commercial grower may only sell at the wholesale level to a licensed retailer or a licensed processor. Medical Marijuana Processing License – a licensed processor may take marijuana plants and distill or process these plants into concentrates, edibles, and other forms for consumption. A licensed processor may sell marijuana products it creates to a licensed retailer, or any other licensed processor. Further, these sales will be considered wholesale sales and not subject to taxation. Under no circumstances may a licensed processor sell marijuana, or any marijuana product, directly to a medical marijuana license holder. However, a licensed processor may process cannabis, into a concentrated form, for a medical license holder, for a fee. The application fee for each of these licenses is $2500, and the applicant must show proof of Oklahoma residency and be 25 years of age or older. Additionally, all applying entities must show that all members, managers, and board members are Oklahoma residents. An applying entity may also show ownership of non-Oklahoma residents, but that percentage ownership may not exceed 25%. Schedule a call with us at Higher Yields Consulting to navigate through Oklahoma’s medical marijuana regulations.
Schedule an Initial Consultation
Whether you already own a cannabusiness or want to get into the business we can help.

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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 an initial consultation.

The Latest from our cannabis consulting blog

Find the Path – Marijuana Startup Services

cannabis startup services

Find the Path – Marijuana Startup Services

Higher Enlightenment – Find the Path

Let’s be real, cannabis-related business is complicated.

New medical and recreational opportunities on the horizon are highly attractive markets with huge potential. However, most entrepreneurs and investors are unfamiliar with the challenges and hurdles that come with new regulatory environments, and many end up failing in their efforts because they don’t have the right systems in place.

Investing in a marijuana businesses consultant greatly increases your chance of success. With nearly a decade in the industry, Higher Yields Consulting is the nation’s premier firm. With over 100 completed cannabis license applications in 13 merit-based states and 6 countries, we have the experience, proven track record, and systems to take your business from seed to scale.

Our 4-step Higher Enlightenment process equips owners and operators with the tools and know-how to get started and navigate the industry with confidence.

Find the Path is Step 1 and the foundation for creating a successful business. These marijuana startup services will prepare your business to weather the complex challenges of the always-evolving legal cannabis industry.

Find the Path is the road to success in the cannabis industry. Whether you’re just getting started and looking for a team to help manage and direct the process, or if you’re interested in shoring up your operations to become more efficient and compliant, we can help.

Contact Higher Yields for a consultation on how Higher Yields Consulting can be of service to you!

WHY CHOOSE HYC FOR STARTUP CONSULTING SERVICES?

 
  • Applying for a marijuana business license is a timely and often arduous process. With high stakes and high competition in new markets, utilizing our Marijuana Business Applications services will mitigate your risk and make you an attractive candidate to regulators
  • We’ve provided services to domestic and international clients and worked in dozens of varying regulatory frameworks. Our cutting-edge consultants will work with you to create a consistent and compelling narrative. With customizable templates, award-winning core operating materials and procedures, our dedicated team will make this process efficient, saving you time and money.
  • An optimized operation starts with incorporating proven Standard Operating Procedures. These are fundamental base-protocols for running an effective business and navigating the changing rules and regulations. Our templates create well-defined processes and step-by-step instructions specific to your regulatory environment.
  • Different markets each have unique rules regulations – staying current and compliant is mandatory if you want to stay in business. These rules often change very quickly as regulators respond to new challenges, which can in turn cause businesses to become non-compliant overnight.
  • Our Marijuana Business Compliance services leave you confident that your operations are above-board and running smoothly. On-site consultants will complete a comprehensive audit of your facilities, identify potential violations, provide corrective action, and ensure owners and operators are properly trained in best practices.
  • A thorough understanding of METRC, the marijuana products tracking and tracing software, is essential to remaining compliant. One discrepancy between this software and your inventory can spell disaster for your business, as you will face heavy fines or risk losing your license.
  • Our METRC Reconciliation services will help you discover and rectify any differences. We also train your employees on proven methods to lessen inconsistencies, empowering your teams and giving them confidence to handle future errors with ease.
  • Marijuana business tax structures are complicated and many startups are taken by surprise when they close out their first year of operations. With our 280E Tax Structure services you will gain a clear understanding of this arcane rule and have a strategy in place to minimize your liability and increase your bottom line. Our consultants will help you save annually by reducing taxable income through the proper allocation of taxable goods.

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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 an initial consultation.

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Cannabis Compliance: Why Your Cannabis Business Might Need A Complete Compliance Audit

cannabis compliance

Cannabis Compliance: Why Your Cannabis Business Might Need A Complete Compliance Audit

CANNABIS COMPLIANCE –  OVERVIEW OF THE BEST FOUNDATIONS

In the new cannabis industry regulations have a way of creeping up on you. Cannabis compliance regulations are in a constant state of change as the industry is just beginning to grow and adjust as is the case with any new market.

How does a cannabis business hope to stay on top of compliance and regulations?

Higher Yields Consulting helps with cannabis consulting for most cannabis businesses who are in need of fulfilling cannabis compliance requirements – in all 50 States of the U.S.

Our cannabis business compliance consultants specialize in giving a thorough compliance audit to check for any business compliance gaps a cannabis business may have.

We’ll go over the foundations for keeping your cannabis business compliant with the current and ever-changing regulations. With the foundations up to date, you’re ready to maximize your efficiency in business processing and operations.

WHAT IS CANNABIS BUSINESS COMPLIANCE?

Cannabis business compliance is the process of business adhering to established laws, standards, regulations, policies, and remaining up to date on emerging trends. When abiding by the regulations the state government sets forth, it’s necessary to have cannabis compliance as one of your primary business goals.

Cannabis compliance can help cannabis businesses achieve other goals for overall growth in the business. Taking the necessary steps to comply with relevant laws that change consistently within the industry will keep your business ahead of competitors.

Below are the following types of cannabis businesses we help through cannabis compliance:

  • Provisioning Center/Dispensary
  • Grower
  • Processor
  • Secure Transporter
  • Safety Compliance Facility or Lab Testing Facility
  • Cannabis Facility
  • Cannabis infused Product or Cannabis Edibles
  • And much more

We help cannabis businesses remain ahead of the curve through a complete cannabis compliance audit.

INITIALIZING A CANNABIS COMPLIANCE AUDIT

A cannabis compliance audit is an extensive review of a cannabis organization’s adherence to the laws and regulations. A compliance audit for any type of cannabis business will give us an idea of what stage you’re at.

Higher Yields Consulting will walk your business through all the compliant intricacies. Whether you want a cannabis business to show up on the US map (by filling out a cannabis business license application) or you need to identify a missing regulation requirement.

Our cannabis consulting company will quickly and accurately divulge the following business compliance prerequisites any type of marijuana business needs to operate accordingly within the local state.

1) STANDARDS OF GETTING A CANNABIS BUSINESS LICENSE AND PERMIT

Before opening a marijuana business, you’ll need authorization to operate through a cannabis business license and necessary permits. Our cannabis consulting company will help you through the initial application process.

As you apply for a cannabis business license there are several things the local state licensing board will need.

The basic cannabis business license requirements is ensuring your business has the following:

    • A well-thought-out business plan.
    • A well-written license application.
    • Proper documentation authorization.
    • An efficient & diligent team (contracts with trusting partners).

A cannabis business license and permit will allow you to do many things, as a business, depending on your local state’s regulation guidelines.

2) IMPLEMENTING STANDARD OPERATING PROCEDURES (SOPs)

Other than getting cannabis business licenses to permits, it’s important to have SOPs.

Whether you own a dispensary or a grow facility, a standard operating system (SOPs) analyzes and describes every detail in every task performed. SOPs are education and communication-based tools that help operational team members learn a functional process for efficient business growth.

3) MARIJUANA BUSINESS IN NEED OF SEED TO SALE SOFTWARE (METRC, BIOTRACK)

Our cannabis consulting includes a functional seed to sale software or METRC analysis for your marijuana business. METRC is an acronym for Marijuana Enforcement Tracking Reporting Compliance.

This is specifically design for the government to analyze transaction tracking and tracing in dispensaries, grow facilities, extraction lab facilities, or cannabis edibles production facility. METRC is an advanced way to track all necessary business production operations.

BioTrack is a seed-to-sale tracking system, similar to METRC, in the cannabis industry that helps supports many  marijuana businesses. It’s essentially seed to sale software system to analyze cash flow operations.

4) INTEGRATING AN EFFICIENT OPERATIONAL SECURITY INFRASTRUCTURE IN A MARIJUANA BUSINESS

In our cannabis consulting process of conducting a cannabis compliance audit, we ensure your marijuana business is compliant with security measures.

It’s important to build a security infrastructure to safely guard your marijuana business against negative influencers.

HIGHER YIELDS CONSULTING WILL RELIEVE YOUR MARIJUANA BUSINESS OF A CANNABIS COMPLIANCE HEADACHE

When marijuana businesses utilize a cannabis consulting company like Higher Yields Consulting, your business will operate at top efficiency and stay ahead of changing cannabis industry regulations.

As a business thoroughly abides by strict regulatory compliances (from submitting a well-written cannabis business license), to using safe security measures, the marijuana business will succeed when obstacles appear.

Contact us to get your cannabis business compliant today.

Schedule a Cannabis Compliance Consultation
Whether you already own a cannabusiness or want to get into the business we can help.

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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 an initial consultation.

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Creating a Cannabis Business Plan

cannabis business plans

Creating a Cannabis Business Plan

Cannabis Business Plan – Where to Start

Trying to start your cannabis business plan? It’s one of the most important documents you’ll create when it comes to the success of your business, so it’s worth putting in some time to get it right. Not only should this lay out all the details of how you’ll pull off your big cannabis business idea, but it is also the document that investors will look at to decide whether your business is worth taking a risk on.

At Higher Yields Consulting, we’ve helped many entrepreneurs to craft successful business plans that entice investors and set up a business for success. So, we thought we’d share some tips on how to create a business plan that makes investors take notice.

Gather All The Pieces for s Successful Cannabis Business Plan

Once you have a strong idea for your cannabis business, you’ll want to spend some time figuring out what you need to make it happen. You may already have some pieces of the picture in place, so start with what you have and then figure out what else you will need. Perhaps you already have a strong team, but need to find a piece of real estate to operate from. Maybe you already have a piece of land, but you need a financial partner to fund development of the property.

Get together the details of everything you need to make this cannabis businessplan to work, such as real estate, a strong team, a business strategy, and well developed financials. If you find something is missing, research and then describe what it will take to obtain it. This could mean spelling out the cost of the real estate you’d like to purchase, or the cost of recruiting that expert you need on the team. Whatever it is, if it is required to make your business function, it should be included in one way or another in the business plan.

Create a Strong Strategy with Cannabusiness Financial Plans

Creating a strong strategy with realistic financials is also a huge part of the battle when it comes to making a successful business plan. Your investors want to know that you have a strategy for how to create and sustain this business in its current market. Consider how your business will stand out from the crowd? Do you have any competitive advantages when compared to the competition? How will you grow your brand and market share over time? Developing this part of the plan can take a lot of creativity and business experience. But, it is also the part of your plan that lays out how you will move forward. If it isn’t well developed – you probably aren’t ready to start a business. If you aren’t confident in what you have, find help from consultants or other experts in the field to develop something great.

Include an Exit Plan

One of the most important parts of a business plan, from an investor’s point of view, is the exit plan. You might think it’s bad form to talk about what might go wrong in your business, while trying to convince an investor to fund your project. But actually, this is one of the key aspects of the plan that investors look for. While your investor might believe in the business and its potential for success, they also know that 90% of startups fail, and this one might too. So investors want to know that there is an exit strategy for how to recoup costs if things don’t go to plan. This might be as simple as reselling or leasing the property that was being used, or even selling off your cannabis license to a bigger player in space. So look over the assets you have or want to acquire. What could you do to recoup funds if things go south and you need to shut down?

Get Help Filling in the Gaps

It’s not at all unusual for an entrepreneur to feel overwhelmed by the task of creating a business plan. It’s a big task with a lot of complex pieces, and it requires expertise in a lot of different areas. If you are doing it by yourself, you’ll likely find there are gaps in your knowledge where experts might be able to offer assistance. There is no shame in asking for help. This business plan will set up your entire operation for success or failure so find help from consultants or other experts to fill in the gaps.

When we work with clients at Higher Yields Consulting, we utilize our experience to help steer them in the right direction. We’ve been through business plan creation so many times, and can help clients develop a strong strategy, build solid financials and avoid common pitfalls in the planning process. We can even help navigate tricky questions like how much equity to preserve while still making an enticing offer to investors.

If you need help crafting your business plan, contact us to see how our team of consultants can help you create a plan that will stand out from the crowd and make investors want to sign on the dotted line.

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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 an initial consultation.

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3 Big Mistakes to Avoid on your Cannabis License Applications

3 Cannabis License Mistakes

3 Big Mistakes to Avoid on your Cannabis License Applications

The Complex Cannabis License Application Process

Writing a cannabis business license application isn’t always a walk in the park. It’s an extensive project that requires expertise, planning, and a lot of hard work. So there are few things more frustrating than attempting to go through this long process only to have your application denied.

Unfortunately this is often the situation for cannabis entrepreneurs who are looking to build a new business but unaware of the common pitfalls and problems that might arise while applying.

At Higher Yields Consulting we’ve helped applicants in 13 different states achieve licensing success, so we know just how tricky it can be. To help you out, we’ve created a list of the 3 biggest mistakes you can make while applying for your cannabis license application.

1. Underestimating the Cannabis License Process and Procrastinating

Perhaps the biggest mistake that applicants make when applying for a cannabis business license is to underestimate the work and time it will take to finish. Procrastination is tempting, especially when you may be delayed on finishing certain sections while you work out the details. But this procrastination can be the kiss of death, leaving applicants bumping up against their deadlines without time to actually complete the hefty application.

Instead of procrastination, make sure to plan out every aspect of your application. It may seem like one big project that you can knock out when the time is right, but it’s actually a lot of smaller projects, like building a team, creating the operational plans, meeting regulations, recruiting, real estate, development, and financials. Each one of these is their own project and needs to be taken seriously and meticulously planned out in advance. Finish your application early and make sure to have the most detail oriented person on your team look it over. Make sure every section is complete and properly filled out, so you don’t get rejected over a technicality.

cannabis loicense

2. Doing Your Cannabis License Application on Your Own

As we mentioned above, completing your application is a huge endeavor, so don’t try to do it all by yourself. This is a common mistake that usually ends poorly. The most successful applications are usually put together by a team of cannabis professionals working together, not a single individual.

Plan out with your team who will complete each section, so you can all start working, filling out your individual pieces in tandem. For each section of the application, make sure that the person writing it has the expertise and experience to do a great job. This means you should either have that expertise already present on your team, or find consultants who have the knowledge to help you fill in the blanks. You will need a lot of different people and you need everybody to be moving forward together at the same time. Make sure roles and responsibilities, as well as internal deadlines are clear for everyone involved, so that you can stay up to date with your external deadlines, and never miss the deadline for turning your application in.

3. Saying Too Much on Your Cannabis License Application

One other common mistake that people make on their application is saying too much about their future plans. Maybe you are applying for a cultivation license but you’d also like your business to do work with extraction. Some applicants might think it makes sense to share their future extraction plans while describing their cultivation plan. But these details aren’t relevant to those who are deciding about your cultivation license and could actually cause confusion or problems.

For example, regulators might think that you are planning to do extraction based on only the cultivation license and get confused. Or maybe your local regulators aren’t as friendly to extraction as they are to cultivation, and would see your cultivation plan less favorably knowing your other plans for the future. Either way, sharing too many details can get in the way and cause big problems.

Instead, stay focused on a clear, simple and consistent plan, one that is relevant to the the license type you are applying for. You can always do planning in the background to prepare for the future. Just don’t add it into your current application.

Looking for help with your application? Our knowledgeable consultants and application writers have helped cannabis businesses achieve licensing success in over 13 states. We can help your business navigate the process as well.

Contact us to get started creating a cannabis license application that is set up for success.

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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 an initial consultation.

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5 Tips for a Successful Cannabis Dispensary License Application

Cannabis Business Team

5 Tips for a Successful Cannabis Dispensary License Application

Getting started on your cannabis dispensary license application? It can be a complicated process! Just ask Higher Yields’ application writers and consultants. We’ve been awarded licenses in over 13 states, in both the adult use and medical markets, and it hasn’t always been an easy road. But with the right approach, getting approval is within reach.

Here are our top 5 tips for a submitting a successful cannabis license application:

1. Don’t procrastinate! Plan ahead to finish your application on time.

This tip might seem obvious, but many applicants put off working on their application until the time is almost up. The last thing you want is to end up in the 11th hour throwing things together without much intention.

Each application has a big list of requirements, and it’s important to make sure each section is strong and complete. Plan ahead and delegate sections so you can make sure you have time to finish with a competitive application.

Dispensary License

2. Put together a strong team with a good business history.

In many states, applications are judged based on merit. This means they are more likely to give out licenses to those with a strong proven track record for success in cannabis, making money and paying the bills on time. Put together a strong team with members who have a history of success in the type of work your company will be engaged in. You should have some experts in your field, a strong financial partner, and consultants with the experience to fill in any gaps. Some states even require a doctor or pharmacist be on the team.

Your application should be built around the strengths of your team, so make sure it is a team worth highlighting.

3. Create detailed operations plans.

It’s important to create detailed operations plans for your application. This is one of the harder parts to put together, because it requires someone experienced in the industry who can really understand the day to day operations of your business. This can be a challenge because many business owners don’t know the details of day-to-day operations that haven’t started yet. These plans need to cover everything involved in your business including things like compliance, community engagement, record keeping, audits, security and more.

This is once place where consultants can be extremely helpful. We have thousands of pages of operating plans already created, which can be cut down and customized to your business.

4. Find the right real estate – but buy on a contingency.

Another crucial aspect of your application is the real estate. You need to find just the right property to house a cannabis business. This property should meet all the zoning requirements of your state, and local jurisdiction, and be suitable for the day-to-day needs of your business. But once you find that property, you also have to convince the owner to let you purchase or rent on a contingency. This is easier said than done, since many owners don’t want to wait around for months to see if your approved, but it is important. That last thing you want is to end up with a unusable property, if your cannabis license application is denied.

Finding the real estate on contingency is one half of the battle, but then you will also need to get the local government to approve. Some jurisdictions have officials that just want to help applicants get going and start bringing in some tax revenue, but others are trying to slow things down and make things difficult. Finding real estate in an area that’s more friendly to cannabis business can make a big difference.

5. Build a local presence.

Wherever you decide to start your business, it’s important to build a local presence. Most states and localities aren’t crazy about people coming in from outside to create cannabis businesses, and making money off their citizens without creating any jobs. So, it’s important to have a local team, or at least have members of your team that are local.

Moving to the area for even a few months before you submit your application can also make a difference. Get involved in the local cannabis community, go to the local political meetings and town hall meetings about cannabis, meet the decision makers and show your investment in the community. Establishing strong relationships with regulators can help later when they are grading applications. Plus, attending these meetings gives you a front row seat to new developments, so you won’t get caught off guard to any changes in the local cannabis policies.

Need some help with your application? Higher Yields Cannabis Consulting can help. Our knowledgeable consultants and application writers have helped cannabis businesses achieve licensing success in over 13 states. We can help your business navigate the process as well. Contact us to get started creating a cannabis license application that stands out from the crowd.

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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 an initial consultation.

The Latest from our cannabis consulting blog