Cannabis Licensing Applications: When to Work with Consultants v.s. Attorneys

Higher Yields Consulting Cannabis Licensing Applications: Working With Consultants and Attorneys

When setting out to complete a cannabis licensing application, many first-time cannabis entrepreneurs assume they need to hire an attorney from the get-go. However, what these budding business people really need is the help of a cannabis consultant.

A seasoned consultant knows the licensing application process inside and out and will be able to advise you on which tasks to outsource to an expert, such as an attorney. This comprehensive knowledge makes hiring a consultant both cost-effective and essential for winning a license. 

Higher Yields Consulting Cannabis Licensing Applications: Working With Consultants and Attorneys

Completing the entire application with an attorney, on the other hand, will likely prove to be a hefty — and avoidable — expense. The steep cost of a “full-service” cannabis attorney is often unjustified as outside services are frequently consulted, resulting in additional fees. 

Confused? Don’t worry. We’re here to help you understand when to work with a consultant and when to hire an attorney so you can get the biggest bang for your buck and submit a winning cannabis licensing application.

The Attorney Dilemma

There seems to be a trend of applicants seeking lawyers for guidance throughout the entire process of acquiring their cannabis license. While there’s a time and a place for hiring an attorney, this usually isn’t it.

Attorneys may charge several hundred dollars an hour for their services. Plus, many attorneys — even those who claim to be “full-service” and well-versed in cannabis — often outsource much of the application work to consultants.

Instead of paying one price for the complete services promised, clients are hit with additional charges to cover the consultant fees. By hiring an attorney to handle the licensing application process, applicants can wind up overpaying for an underperforming service.

When to Hire an Attorney

Ultimately, attorneys are best at offering their specialized knowledge on matters regarding contracts, partnership agreements, corporate structure, and IRS codes, such as section 280E. Working with an attorney for these specific parts of a cannabis licensing application makes sense.

Seek out the support of a consultant to handle the majority of the application legwork. Your consultant will alert you of any sections that need a more specialized eye. Then an attorney — or another expert, such as a CPA — should be hired to fill in the gaps with their expert knowledge.

The Value of Working With a Consultant 

As a former lawyer who worked with cannabis clients, I saw a significant need for consultants in the licensing field. It dawned on me that the cannabis industry would benefit from a knowledgeable consultant who possessed the work ethic of an attorney — so I pivoted to fill this role and joined the Higher Yields team. 

Consultants understand cannabis licensing with a greater depth than attorneys do, which makes them the true authority on the matter. Attorneys, however, fill in the crucial gaps in specialized areas of focus. I was armed with the skills of both.

The value that a consultant offers saves a lot of headaches and provides a hands-on approach for the applicant. A consultant will pass along their comprehensive knowledge of cannabis licensing and forge a strategic path through the application process. 

Striking a Balance

I recommend applicants seek out a full-service consultancy, and this is exactly what my team offers here at Higher Yields. Many of us are lawyers by trade, but offer the full-service suite of knowledge (without the lawyer rates!) of a consulting firm. We have the legal acumen and the business strategy and use both to the client’s benefit.

The significance is that the client ends up relying less on attorneys, putting dollars back into their own pocket. Plus, there are no loose ends when the bulk of the cannabis licensing application is completed in-house. 

There are certain steps in which the client is directed to outsource an attorney, CPA, or an architect. But rather than hand off the assigned tasks, the team at HYC will work alongside these professionals to maintain support throughout the complex proceedings. 

The value of hiring a consultant first and an attorney on an as-needed basis is that a balance is formed, making a once fragmented approach, smooth and cohesive. 

A True Full-Service Approach to Cannabis Licensing

When seeking out the best consultant for your needs, be on the lookout for a package deal that offers the full range of support you’ll require. Find a consultancy that provides in-house guidance on security plans, financials, floor plan designs, compliance, and procurement.

With this kind of full-service package, you’ll sidestep the outsourcing fees that would normally be tacked onto your bill. As an added bonus, this collaborative team-oriented approach will ensure that your cannabis licensing application runs through a fluid system of operations. 

It’s crucial that your consultant understands that working together creates synchronicity that isn’t found with disjointed outsourced teams.

 

Higher Yields Consulting Cannabis Licensing Applications: Working With Consultants and Attorneys

Be sure to emphasize from the start of your business relationship that you only wish to outsource when you absolutely require a specialized expert. Ideally, this means tracking down a consultant who has legal knowledge but doesn’t serve as a legal advocate and charge higher rates. 

The best consultant will know when to advise you to seek out an attorney. Likewise, the consultant well-suited for your needs will offer all the remaining services you need in one place.

Having the right plan of action to complete your cannabis license application can be tricky. The last thing you want is to pay higher rates for an attorney who will ultimately outsource the bulk of the work. To win a license in your state, you need a unified team on your side. 

Our industry leaders are ready to work with you on streamlining your cannabis licensing application. Contact us today to schedule a consultation.

Gaining the Upper Hand in Your Dispensary Application

Higher Yields Consulting Gaining the Upper Hand in Your Dispensary Application

Your ability to claim victory with an approved dispensary application in hand comes down to a handful of effective strategies that require consideration, planning, and education. 

Higher Yields Consulting Gaining the Upper Hand in Your Dispensary Application

Completing a dispensary application is not a solo endeavor; you need to know who to turn to for expert advice along the way. After all, professional support is not just the cherry on top it’s the foundation of your success. 

Here’s how to decide whether a dispensary application is right for you and how to gain the upper hand when filling one out.

Is a Dispensary Application Right for You?

Running a dispensary is a fairly cut-and-dry operation. Your capital investments will zero in on your point-of-sale systems and the product you are selling. 

Manufacturing and cultivation operations, on the other hand, require not only investing in pricey equipment but also adhering to complicated Occupational Safety and Health Administration requirements

It’s not surprising, then, that many aspiring cannabis business owners will opt for the dispensary route. Those who are willing to put in the extensive time and energy that it takes to fill out a dispensary application and grow a successful cannabis business will come out on top. 

Once you’ve decided a dispensary is the right choice for you, you’ll need to fill out your dispensary application. 

Filling Out Your Dispensary Application

A dispensary license is more accessible than a cultivation license, but more accessible doesn’t necessarily equate to an easy dispensary application process. 

An unforgiving rating from the rigorous scoring process can prevent you from breaking into the cannabis industry altogether. But with the right support and preparation, the business opportunity may be within your reach.

Seek Guidance 

Surrounded by ambitious participants at a convention geared to educate applicants in Illinois, Medical Marijuana Program Director Joseph Wright gave insights on how best to approach the dispensary application process. 

According to Wright, a dispensary application will ask for “business plans, who will be involved and what their expertise is, how records will be kept, and how employees will be trained.” 

Higher Yields Consulting Gaining the Upper Hand in Your Dispensary Application

Making new contacts is especially important given the challenges you will face in this fresh industry. Refrain from approaching a dispensary application on your own and instead seek professional guidance from a cannabis consultant like Higher Yields Consulting (HYC)

Our team of experts can help your business gain a foothold from the competition and put its best foot forward on your dispensary application.

Define Your Challenges 

Like any business, a dispensary will face its own challenges, such as market saturation, market demand, and employee turnover. By anticipating your potential hurdles early on, you can address them before finalizing your dispensary application.

Notably, location can make or break a cannabis business, so investing the time into finding the perfect spot – while keeping in mind your local zoning laws – is an absolute must. Ideally, you’ll have a space selected before you even start your dispensary application.

We’d also advise making connections with pillars in the community and ensuring they are open to a cannabis business setting up shop in their town. 

Screen the Market Regions 

When choosing the most profitable path for your business, the state you are in can make all the difference. If you’re not sure where to set up shop, here are a few states worth considering:

For applicants interested in putting down business roots on the east coast, Massachusetts is a lucrative hot spot for its low-barrier entry and robust cannabis market.  

Michigan is another prime location thanks to its steady customer traffic. Yet, there are far more roadblocks as many of the state’s municipalities frown upon the cannabis industry. 

Illinois dispensaries that would normally be up and running are at a standstill with their applications, so consumer demand has skyrocketed. That said, expect to face many dead ends and litigation issues because the social equity section of the application tips the scales, often resulting in an unfair tally system. 

Compared to those of other states, Oklahoma’s dispensary application is easy. The catch, however, is that the market is only open to medical marijuana dispensaries. 

Wherever you choose to open your cannabis business, a dispensary application is just one target of many that you need to meet to get your dispensary license. It’s not an overnight process, but if done properly, you’ll be joining a growing industry in its early years of development. 

If you are seeking support in completing your dispensary application and acquiring a license in your state, reach out to us to schedule a consultation.

The Cannabis Licensing Guide: 4 Strategies for Success

Higher Yields Consulting The Cannabis Licensing Guide: 4 Strategies for Success

The cultivation of a successful cannabis operation starts with a single crucial step: winning a license. However, even that first step involves a long process that requires time, effort, and expertise. This cannabis licensing guide will help ensure your business is a strong candidate for licensing.

If you’re hoping to win a license, the time to start preparing was yesterday. After all, advanced planning isn’t a luxury, it’s a strategy. Beginning as soon as possible gives you time to secure real estate, lobby local officials, and become compliant. Starting ahead of schedule is one of the smartest strategies for winning a license.

Higher Yields Consulting The Cannabis Licensing Guide: 4 Strategies for Success

Along with proper preparation, effort, and a head start, our cannabis licensing guide will help your budding business nail the application and get licensed in no time.

Location, Location, Location

In any industry, real estate plays a huge role in business success. In the cannabis industry, that role is even larger. The majority of states require applicants to have commercial real estate locked into place, and a lack thereof usually results in the applicant’s disqualification.

Whether your business opts to buy or rent a space, our cannabis licensing guide suggests considering two primary elements. First, make sure your site is in a Green Zone — that is, a place where cannabis operations are allowed. Green Zones will allow you to narrow your search and stay compliant with local zoning regulations.

Then, evaluate the return on investment (ROI) of potential locations. This analysis of local competition, product demand, and other factors will reveal the most lucrative locations for your business.  

Controlling Your Capital

On the financial side of the industry, most states want to see short-term operating plans and long-term financial sustainability. To achieve such sustainability, we suggest engaging with investors without compromising company equity.

Cannabis investors infuse your operation with the capital necessary to grow. Solidifying your investors early and continuing to engage with them builds a relationship that yields financial security. However, companies should avoid giving away too much equity in the process.

Especially in states with low start-up costs, operators may be tempted to award investors large shares of equity. Giving away too much up front can leave your business vulnerable if you need to pay employees in equity or fundraise again later. 

Striking a balance between raising liquid capital and maintaining equity is crucial for successfully navigating the cannabis licensing process.

Assembling an Expert Team

A cannabis operation is only as strong as the team behind it. Putting together a core team of experts will, throughout the process of cannabis licensing, guide your business to future success.

Strategically selecting your core team based on business acumen gives your operation a competent and diverse foundation. Additionally, varying degrees and types of experience among your team looks good on applications. In particular, most states like to see teams with experience in ancillary cannabis businesses.

Operators & Management Staff

Outside of the core team, experienced cannabis operators and management staff bring more value to the table. Experts who understand the ins and outs of the industry and have multi-state experience can fill expertise gaps on the team.

Furthermore, your choice of operators and management staff may benefit your future goals. For example, some businesses choose to begin solely as dispensaries and eventually grow into cultivation as well. In these cases, operators with vertical integration experience in both areas look very attractive on applications.

Security & Legal Compliance

If there’s anything that can easily sink your business, it’s a lack of proper security and compliance. For this reason, our cannabis licensing guide, along with countless other blog articles, emphasizes the importance of such measures.

Anyone can write a security plan, and there are plenty of cookie-cutter templates available. However, these avenues don’t set you apart from the competition. A comprehensive, thoughtful, and robust security plan demonstrates that you understand the risks in the industry as well as how to effectively mitigate them.

That being said, don’t promise more than you can provide. If your plan is too ambitious or too expensive to implement, then the state will likely deny your application. Because of this, businesses should aim to design a plan that balances necessary security with financial viability.

Higher Yields Consulting The Cannabis Licensing Guide: 4 Strategies for Success

Additionally, staying compliant with local and state regulations is crucial for remaining in business. In states that require METRC, the process can be confusing at first but is ultimately very effective. 

If your state doesn’t require METRC, be sure to vet and test your inventory system thoroughly to avoid any costly errors. Also, look for a system that can easily be integrated with METRC should your state someday require compliance.

Navigating the dynamic landscape of local and state regulations can be exhausting and time-consuming. Here at Higher Yields Cannabis Consulting, we’re lucky to have Director of Compliance, Marissa Cortes, helping our clients stay on top of regulations.

Cannabis Licensing: Guide Your Business to Success

The cannabis industry is a difficult industry to start in, but advanced preparation can set you up for success. By following the strategies we’ve set out in our cannabis licensing guide, your operation will be well on the way to winning a license.

Are you looking to maximize your opportunity to win a license? Book a consultation and work with our crack team of seasoned professionals!

Bermuda Prepares for Legalized Cannabis

Bermuda Prepares for Legalized Cannabis

Crystal blue waters and pink sands may be the key to Bermuda’s charm, but thanks to a new proposal from the island’s government, Bermuda looks to be moving towards legalizing cannabis. On June 3, 2020, Attorney General and Minister of Legal Affairs Kathy Lynn Simmons announced the Bermudian government’s intention to fully legalize and regulate cannabis for adult use by the end of the year.

Higher Yields Consulting: From Pink Sands to a Green Rush: Bermuda Prepares for Legalized Cannabis

Simmons has released a draft of the Cannabis (Licensing and Regulation) Act 2020 for public comment. For anyone paying attention, this comes as no surprise. Change has come incrementally to Bermuda, first with a decriminalization bill in 2017, and then with a move to legalize hemp in 2019.

With full adult-use legalization on the horizon, a new world of opportunity is emerging in Bermuda. Here’s what you need to know.

Bermuda & Cannabis: How We Got Here

Though Bermuda’s government has taken swift and decisive steps to legalize cannabis in 2020, regulation is hardly a new topic of discussion. In 2018, the possibility of expanding patient access to cannabis-based treatment was being explored. However, when the proposal was brought forward for public consultation, it was met with unexpected criticism — and not in the way one would assume. The overwhelming consensus was that the government’s aspirations, impressively proactive though they were, didn’t go far enough.

Full legalization was demanded. Bermudians wanted a simplified framework that would allow all citizens to participate, no matter their economic standing. They also wanted help to bring a semblance of social equity, which was especially important because of the stark economic disparities that have long been a part of island life.

Bermuda’s population is basically made up of rich and poor with no prevalent middle class to speak of. As an island nation, Bermuda relies on imports for many everyday staples, which pushes up the cost of living and further widens the divide between the haves and the have-nots.

The COVID-19 pandemic has further exacerbated these circumstances. With international travel ground nearly to a halt, Bermuda’s tourism-based economy has taken a catastrophic hit, leaving an overwhelming number of Bermudians with no way to make ends meet.

It’s no coincidence that the Bermudian government has now decided to accelerate the cannabis legalization process. In fact, the pandemic’s economic impact has been directly cited in documents for public consultation on the topic. As of July 3, 2020, the window for submission of public comments officially closed, setting the stage for the bill’s final adjustments ahead of becoming law.

Setting Up the System

Public documents released thus far have cited the regulatory frameworks of Canada and neighboring Caribbean nations as Bermuda’s inspiration. However, U.S. industry operatives will also find similarities to the framework of Colorado.

Higher Yields Consulting: From Pink Sands to a Green Rush: Bermuda Prepares for Legalized Cannabis

Regulations will be overseen by a five-member board — the Cannabis Advisory Authority — selected from the “disciplines of health, scientific research, business, planning, and agriculture.” The Authority will be responsible for advising on policy matters, the distribution of educational materials, the execution of training programs, and the receipt and submission of licensing applications. The Authority will also give recommendations on approvals and refusals. Let’s take a quick look at the broad strokes of the proposal:

  • Adults age 21 years and older will be permitted to carry up to seven grams on their person.
  • Personal cultivation will be allowed but will require an annual license of $750.
  • Individuals with prior cannabis convictions will NOT be automatically barred from participating in the new industry.
  • Retail cannabis outlets will be required to submit to an inspection by the Commissioner of Police a minimum of once every six months.
  • Retail cannabis outlets will be permitted to allow consumption on their premises with the proper licensing.
  • Licensing will be required for every level of the vertical, including cultivation, importing, exporting, manufacturing, retail, transportation, and research.

The Bermudian government is implementing rigorous protocols to ensure that the system can’t be scammed. Still, excessive regulations are being adamantly avoided so as not to unduly burden aspiring participants.

Pushback

Despite the overwhelming popularity of legalization among Bermudians, not everyone is happy with all of the details of the proposal. According to an article in the Royal Gazette, Social Justice Bermuda — an activist organization — has taken issue with the $750 licensing fee for home cultivation. The group argues it will disproportionately exclude Black citizens from taking part in the legal growing scheme. Moreover, Social Justice Bermuda argues that such an exclusion would only further encourage illegal activity.

While there has been no direct response to this objection as of yet, the statements that have been released do bode considerably well for Social Justice Bermuda’s agenda. In her update on the public consultation,  Attorney General Simmons stated emphatically that all comments submitted by the public were being considered. The update also noted that license fees were being re-evaluated in hopes of finding a balance between the costs of all available licenses and “to achieve the best participation for under-represented or marginalized groups.”

The Island Way

Throughout all of this—the language of the bill, the process by which they created it, and the consultations by which they refined it, one thing is abundantly clear: This piece of legislation is for the people.

bermuda cannabis consulting

There’s no buying or selling of licenses allowed, meaning it won’t become a game of Monopoly for the rich. Bermudian citizenship is also required for participation. Most importantly, the Bermudian government has made it clear that their goal is to tip the scales in favor of the underclass. They’ve doubled down on that assertion through a rare attentiveness to the populace and a dynamic response to their concerns.

Still, even the most reasonable of regulations can prove to be an arduous regimen for the average entrepreneur to tackle. Having a green thumb or a silver tongue doesn’t typically correlate with a propensity for bureaucratic details. Those are the Devil’s domain, according to the old cliché.

As the Bermudian government takes the final few steps to make the dream of legalization a reality, an entirely new territory of opportunity will be opening. If you’re a Bermudian approaching this new opportunity with a plan and a passion, make sure you’re equipped to stake your claim.

If you’re not sure where to start, we here at Higher Yields Consulting can help. Since 2008, we’ve been putting our diverse skillset to work for the cannabis industry — both in the U.S. and abroad — and have consistently garnered stunning results for our clients.

Reach out to us today to schedule a consultation.

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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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The Future of Cannabis in the U.S. & Emerging Markets in the Industry

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As the saying goes, you don’t need a weatherman to know which way the wind blows. However, when it comes to the future of cannabis in the U.S., an experienced prognosticator can help predict the next state likely to launch a legal cannabis market or provide insight to help you win an industry license. However, passing a law is just part of the story. We’re here to help you find the facts and identify opportunities.

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How to Maximize Your Cannabis Yield: Commercial Real Estate — Part 1

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When selecting a property for your cannabis business, you want to be certain your investment aligns with your goals. At the outset, it’s important to think about how to maximize your cannabis yield in terms of production and financial return regardless of the vertical in which you choose to operate. Whether you’re thinking of buying, leasing, or doing a custom build, we have some tips on what to look for in a piece of commercial real estate — and some pitfalls to avoid.

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Cannabis Social Equity Programs: An On-Ramp for Minority Entrepreneurs

Social Equity Programs: An On-Ramp for Cannabis Entrepreneurs

In cities and states where cannabis is legal in some form, governments are introducing social equity programs to address the lack of diversity in the cannabis industry. Local and state lawmakers are weaving social equity programs into legislation, thereby enabling minorities and those impacted by the war on drugs to pursue cannabis business opportunities. For decades, advocates for cannabis social equity and justice have pushed to create equal access and fairness in the cannabis industry. As with most social change, results take time. Below are some of the measures states have taken to grow cannabis social equity programs, and a few ways in which they still fall short.

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How to Get Started in a Legal Cannabis Business

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How to Get Started in a Legal Cannabis Business

More than half the states in the U.S. have already legalized marijuana in some form. Most of these states have started by legalizing medical marijuana for patients with qualifying conditions, while some states also have programs for recreational cannabis.

The cannabis industry is expected to grow into a $21 billion market by 2021. With business booming and the potential for high return on investment, there’s much interest in starting a legal cannabis business. However, because of the complex cannabis laws and regulations that vary by state, it’s easy to get lost and confused by all the requirements it takes to participate in this multi-billion industry.

Before you start your marijuana business and even consider beginning the application process, you should study your state’s specific marijuana programs, laws, and regulations. Because the legal cannabis industry is relatively young and highly regulated, starting a marijuana business won’t be like launching a regular business.

In this guide, we will briefly discuss the cannabis industry’s history, the unique requirements of becoming a cannabis entrepreneur, and marijuana business ideas. We will also talk about how you can improve your chances of getting a license.

Brief History of the Cannabis Industry in the U.S

Cannabis prohibition dates back to 1937 when the Marihuana Tax Act was passed. The Act levied a tax on anyone who dealt in marijuana, cannabis, or hemp. Just a year later, hemp was declared as the “New Billion Dollar Crop” because of its 25,000+ potential uses. And by 1942, the U.S. Department of Agriculture and the U.S. Army urged farmers to grow hemp. And though the Marihuana Tax Act was rendered unconstitutional by the Supreme Court in 1969, cannabis was classified under Schedule I under the Controlled Substances Act.

It would be decades before the journey toward legalization of marijuana would begin. In 1996, California passed Proposition 215, legalizing the medical use of marijuana in the state. Arizona, Alaska, District of Columbia, Oregon, Washington, Maine, Colorado, Hawaii, and Nevada legalized medical marijuana and developed their own medical marijuana programs over the next four years.

More states would follow suit over the next few decades, with some states legalizing recreational marijuana for adults. In 2018, the passing of the Farm Bill or the Agriculture Improvement Act into law legalized hemp and ended federal prohibition of hemp and hemp-derived products. .

Business Opportunities in the Cannabis Industry

The booming cannabis marketplace means a variety of business opportunities for entrepreneurs looking for their slice of the multi-billion-dollar pie. Because of the many types of cannabis businesses, getting started requires a decision on which area of the sector to focus on. While cannabis businesses now come in all shapes and sizes, the following are the most common marijuana businesses:

Dispensary – Marijuana dispensaries are also referred to as retail stores. They are the physical stores where consumers can buy cannabis products. This type of cannabis business is ideal for the entrepreneur who enjoys contact with the customers. Depending on your state, this could be a recreational or medical marijuana dispensary.

Cultivation FacilityMarijuana cultivation businesses are also known as grow facilities. Depending on the state regulations, marijuana may be grown indoors or outdoors. Cannabis cultivators are typically located in remote areas because of the space requirement. To maintain quality, cultivation businesses have facilities that are climate-controlled, well-ventilated, and have advanced irrigation systems. They are also expected to be highly secured.

Extraction Lab – Extraction labs have advanced extraction systems and extraction technicians that use processes to extract pure compounds from the cannabis plant. These potent extracts are what you will find in commercial products, such as oils, tinctures, and concentrates.

Manufacturer – Marijuana products can be consumed in a multitude of ways. Manufacturers process the cannabis plant to produce a variety of products, such as edibles and concentrates.

Transportation Services – Marijuana transporters get marijuana from point A to point B, safely and legally. Because marijuana is highly regulated, traditional courier services are out of the question. Only licensed marijuana transportation services are allowed to move raw marijuana materials and goods. This type of business will typically require armored vehicles and trained and armed drivers to ensure goods are delivered without incident.

Investing in Cannabis

Starting your own cannabis business operation isn’t the only way to get your start in the marijuana industry. Many people decide that investing in cannabis stocks is a good way for them to understand the industry before fully committing to business ownership. This approach will require market research into the performance of existing cannabis operations and an understanding of industry trends. Educate yourself and stay up-to-date on the latest cannabis business news and the ever-changing rules and regulations of the cannabis industry.

How to Improve Your Chances of Getting Licensed

The highly regulated nature of the cannabis industry makes getting a license for your business to operate legally challenging. And since most license applications are evaluated using a scoring methodology to rank them based on quality, competition is fierce. However, the application process for licensing is complex and rigorous for a reason; it’s to weed out those who do not have a potentially successful business strategy and the ability to operate a legal cannabis business properly.

Completing a marijuana license application is not a one-man job. It requires the expertise and insight of various cannabis professionals – ranging from operations to tax accounting and compliance with cannabis regulations. Some basic requirements the application process include are a well-developed business plan, detailed standard operating procedures (SOPs), and proof of strong financials. Before you begin the application process, you will also need to secure cannabis-friendly real estate that complies with all the zoning laws of your state. You will also need to craft a blueprint of your cannabis business facility, ensuring that it abides by all the compliance laws of your state.

Because of all the requirements, documents, and specialized skills needed to complete a license application, it would be wise to leverage the expertise of a cannabis consulting agency. Cannabis consultancies have teams of experts who specialize in each area of the cannabis industry – from licensing to accounting to compliance to facility design to branding. With years of experience in marijuana licensing and permitting, professional application writers will help you complete each section of the application properly by using an efficient process that saves you time and money.

Realistically, you may only have one shot to secure a cannabis license. Most states have a limited number of marijuana business licenses to award. Once an application window closes, another one won’t likely open unless the state determines that the existing marijuana businesses cannot meet consumer demand. Because cannabis licensing is highly competitive, an experienced cannabis business consulting company will ensure you are equipped with everything you need to make your application stand out.

Conclusion

Before you build your business, you need to understand the complexities of obtaining business licenses in the marijuana industry. Because the industry is highly competitive, and marijuana remains illegal under federal law, your best chance at becoming successful is to leverage the expertise of cannabis professionals who can increase your chances of getting licensed while ensuring you remain compliant with the law.

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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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National Trends for Social Equity Programs in the Growing Cannabis Industry

National Trends for Social Equity Programs in the Growing Cannabis Industry

As people began discovering gold at the end of the cannabis rainbow, some communities were missing out on the bonanza. Notably, people of color, those with prior marijuana convictions, and members of communities hardest-hit by the war on drugs were running into barriers to entry into the profitable cannabis industry. To maximize your potential for success in the cannabis market, learn about social equity programs in your state or city. Here are some common themes to be aware of, along with figures that illustrate the power of including previously underrepresented individuals in this booming industry.

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