Cannabis Banking Services in Nevada

cannabis banking

Cannabis Banking Services in Nevada

Blast The Barriers In The Nevada Cannabis Industry With Regulated Banking

 

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

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

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

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

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

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

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

HOW CANNABIS BANKING WORKS IN NEVADA

 

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

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

KEY BENEFITS OF CRB BANKING SERVICES

 

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

Contact Higher Yields Consulting to help evaluate your banking needs. 

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

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Massachusetts Cannabis Related Business Banking Services

cannabusiness banking

Massachusetts Cannabis Related Business Banking Services

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

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

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

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

HOW CANNABIS BANKING WORKS

 

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

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

KEY BENEFITS OF CRB BANKING

 

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

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

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

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

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

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Oklahoma Cannabis Licenses

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Oklahoma Cannabis Licenses

Oklahoma Just Legalized Medical Marijuana Apply For Your Cannabis License Now

 

On June 27, 2018, 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.

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. 

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

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New York Cannabis Licenses

new york cannabis licensing

New York Cannabis Licenses

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

 

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

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

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

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

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

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

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

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

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

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

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

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New Jersey Cannabis Licenses

New York cannabis license applications

New Jersey Cannabis Licenses

Want to Open A Recreational Cannabis Business in New Jersey?

New Jersey legalized medical marijuana in 2010, and although the state is no longer accepting applications for medical dispensaries, the state is on the cusp of legalizing “possession and personal use of small amounts of marijuana for persons age 21 and over.”

If it passes, Senate Bill 830 will make the Garden State a new front for recreational cannabis use. With estimated first-year revenues ranging from $60-300 million, New Jersey is a prime hub for establishing a new marijuana business, or expanding an existing business that operates in another state.

Although the bill is still being considered, recreational cannabis in New Jersey is inevitable and individuals and organizations that take action now will be best positioned carve out a slice of the new market.

The first step for anyone interested in retail marijuana is to become familiar with the various cannabis business licenses that will be available. According to the proposed legislation, four separate licenses will be offered.

Types of Cannabis Business Licenses that may be Offered in New Jersey

Class 1 Marijuana Cultivation Facility / Marijuana Producer License; Marijuana Product Manufacturing Facility / Marijuana Processor License: This license is for an entity that cultivates marijuana and sells to producers, to product manufacturing facilities, and to other marijuana cultivation facilities, but not to consumers. Similarly, it is also for an entity that purchases marijuana; manufactures, prepares, and packages marijuana items; and sells items to other product manufacturing facilities and to retailers, but not to consumers.

Class 2 Marijuana Wholesaler License: a person or entity who sells marijuana items or marijuana paraphernalia for the purpose of resale either to a licensed wholesaler or to a licensed retailer.

Class 3 Marijuana Retailer License: an entity licensed to purchase marijuana from cultivation facilities and marijuana items from marijuana product manufacturing facilities or wholesalers and to sell marijuana and products to consumers.

Class 4 Marijuana Transportation License: an entity licensed to transport marijuana through and within the State of New Jersey and to maintain a warehouse.

Preparing For New Jersey Cannabis Licensing Possibilities

Although New Jersey is not currently accepting applications for marijuana licensing, there are steps you can take right now to be the most prepared for when the new law goes into affect.

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

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

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

Contact us today to skyrocket your business in the cannabis space of New Jersey. 

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

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California Cannabis Consulting

California cannabis licenses

California Cannabis Consulting

Why Choose us for Cannabis Consulting in California?

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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Hemp – The Basics

CBD Hemp oil

Hemp – The Basics

Hemp is one of the oldest domesticated crops known to humanity. Hemp fiber is extraordinarily strong and its use dates back thousands of years as it was utilized for the production of things like cordage, clothing, and paper.

Additionally, industrial hemp has a long and rich history in the United States. The first drafts of the Declaration of Independence were written on hemp paper. Hemp was a mandatory crop in the early republic, and citizens were required by law to grow it on their homesteads. In 1841, Congress passed a law that ordered the US Navy to purchase hemp from farmers. Hemp has been a staple of American industry since the beginning.

Things took a downturn in the mid-Twentieth century, as hemp was confused with its psychoactive cousins and included on the list of forbidden substances under the Controlled Substances Act. However, it looks like there may be a new hemp revolution brewing that has the potential to radically transform modern industry.

Industrial hemp legalization in the United States is now on the horizon as new bills were recently submitted to the US Senate and House of Representatives. The Hemp Farming Act of 2018 would remove any federal barriers to hemp and legalize its industrial use.

So, why Hemp? It is known as the plant of 10,000 uses, after all, and that’s not far from the truth.

Industrial Hemp is used in the manufacture of thousands of products. The whole stalk can be used to create paper materials and energy products like biofuels. In fact, hemp produces more pulp per acre than timber, so it is a highly sustainable renewable resource. Hemp biodiesel and ethanol/methanol have a proven track record in Europe and the United States as a renewable and cleaner-burning energy source.

The bast fiber of the hemp plant is used to create textiles like clothing, bags, and shoes, technical textiles like cordage and netting, and new-use industrial products like plastics. Henry Ford, for example, built a vehicle out of hemp and other plant fibers that had an impact-resistance 10x stronger than steel.

The hurd, also known as shives or hemp wood, of the hemp plant is used to create building materials like insulation and hempcrete, and also industrial products like animal bedding and chemical absorbent.

Hemp seed is also used in the manufacture of food products like breads, protein powders and flour, milk, and cereal. Hemp oil pressed from the seeds has uses in supplementation, body care products like shampoo, soap, and cosmetics, and technical products like paint, lubricants, and ink.

Hemp can literally replace thousands of products that we use every day.

Additionally, Hemp is now being accepted once again as a medical product because it contains Cannabidiol (CBD) and other vital non-psychoactive cannabinoids necessary for human health. CBD, by itself, has been shown to treat pain, mental illness, anxiety, and insomnia.

CBD is perhaps most famous for its effectiveness in treating neurological disorders like Epilepsy, and early studies show that it can play a big role in treating cancer.

Does hemp sound like a wonder plant? With thousands of uses ranging from everyday industrial and household products, to food and medicine, it seems to be the most simple and powerful solution to creating a sustainable, healthy future.

Contact Us  from Higher Yields Consulting to get your industrial Hemp Business off the ground. 

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

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Cannabis Branding: How To Build Loyalty

cannabis-branding

Cannabis Branding: How To Build Loyalty

INSPIRING CUSTOMER LOYALTY REQUIRES BRANDING WITH INTEGRITY

The cannabis industry is a highly competitive marketplace – you may have the highest quality products on your shelves, but if your branding is inconsistent or unattractive, customers will ignore you. The rule here is that the market determines your value, not your ideas on how valuable you are. This is where our cannabis branding design services come into play.

As a business, your branding is one of the most essential components to standing out from the crowd and having success in a saturated market. Branding with integrity means consistency across all areas of your business where customers interact with your products and services.

Consider that your branding efforts are the market-facing expression of your company’s vision, mission, and values. Why are you in the business? What makes your products different? What are your commitments to your customers? Your company communicates these ideas through its branding.

Your branding is how you express your company’s personality to the market. As such, inspiring your customers to create a lasting bond with your products and services means that you must create a sense of familiarity for your fans. You’re creating an experience for your customers that is not only elevating, but also unique and unlike the dozens of other companies that offer the same or similar products.

In the cannabis industry, there are three main areas where really nailing your branding will make the biggest difference in how you are perceived by the market.

Your logo is the face of your business and your graphic design (fonts, colors, and images) is the foundation for all of your branding efforts. Your company has a specific style it wants to express – it starts with your logo and is supported by how well you express that style through your choice of fonts and colors.

Are you elegant or industrial? Are you bold and assertive, or laid back and chill? Your logo and graphic design instantly communicates the feeling of your company to the consumer, so take some time on doing it right, because attraction counts.

Product branding and packaging is the literal texture of your business. When a customer looks at and holds onto your product, when they feel the ink on the box and see how its been designed, you are communicating. The cannabis industry is always evolving, and you must consistently upgrade the way you capture attention. Standing out from the crowd depends on how unique and innovative your products are on dispensary shelves, so investing in package design is the smartest way to differentiate your brand.

Generating a committed brand following doesn’t only happen inside the dispensary, but also online on your website and social media channels. Your website is the digital home of your business. Ensuring that it is themed appropriately – your fonts and colors are uniform with your logo, graphic design, and product packaging – communicates style and integrity in your business.

Additionally, how your company interacts on social media with your fans and customers is integral to your success. What you share and communicate on social media is an opportunity to speak directly with your customers and drive home your difference, which can increase sales and ROI.

Overall, consistency with your branding is the biggest difference-maker for success in the cannabis industry. It is your company’s opportunity to express itself in the marketplace, and being consistent, attractive, and innovative will ensure that you stand out and capture the attention that you deserve.

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

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Cannabis Social Media

social media cannabis

Cannabis Social Media

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

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

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

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

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

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

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

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

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

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

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

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

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Higher Yields 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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METRC Compliance

METRC Compliance

METRC Compliance

Why METRC Compliance Services?

METRC compliance is one of the most important aspects of your cannabis business. A wise man once said, “If you are going to play the game, you must first know the rules.” Similar to compliance, knowing the rules is the first thing we should do and often the last thing we want to do! Some businesses are so far out of regulation with Compliance that one random inspection by MED (Marijuana Enforcement Division) could spell disaster for the owner’s investment and could even result in a pulled license. METRC Certification and Training are a high priority investment for any successful cannabis business.

Tracking products and understanding how to properly use METRC (and, worse, keeping on top of the updates!) or your state required seed to sale system can be a daunting task. But failing to do so can result in catastrophe. Higher Yields can provide you with the peace of mind you seek with our METRC Certification and Training services.

It’s Never A Bad Time To Seek Out METRC Compliance Training and Certification Services

So let’s figure it out before it’s too late with our METRC Compliance professionals. Calling in professionals at the last minute is always an option, but know that emergency situations bill at emergency rates. Marijuana Consultants can get pricey when called into these situations. Even a little preventive maintenance up front can help avoid common (or disastrous!) pitfalls down the line. A good Marijuana Compliance Consultant will be up-to-date on current issues. Bringing in someone who knows the rules can save your business money, time, and serious heartache. That’s not to mention how the heavily regulated compliance here in Colorado helps protect us from the Federal Government. So get with it, for all our sake, and keep the Feds out of Colorado!

Higher Yields Is Your Choice For METRC Compliance Services

The newness of the marijuana industry makes it hard to identify issues when rules are so subjective. Knowing someone familiar with the details, with a vision of the road ahead, is invaluable to a business when MED stops by for a METRC or Seed-to-Sale Audit.

Whether compliance worries have you lying awake at night you or MED is knocking on your door, contact the professionals at Higher Yields Consulting for your METRC compliance training and officer placement. We can get you back on your feet and on the road to peaceful sleep.

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

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