Nevada CANNABIS CONSULTANTS
Higher Yields Cannabis Consultants offers a full range of cannabis consulting services in the state of Nevada . Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
Important Compliance Considerations for METRC in Nevada
As part of the most regulated industry in history, cannabis operators face intense scrutiny from local and state governments. METRC, a seed-to-sale tracking system, helps operators stay compliant by creating an easily identifiable chain of custody for each cannabis product. Using METRC makes recalls easy and ensures accountability.
Mandated in 15 states plus Washington D.C., METRC is similar everywhere. However, there are nuances in each state. In order to remain compliant, businesses must be aware of and adhere to their state’s specific regulations.
Now, Nevada has one of the highest quality and most available online training programs in the country. The Silver State also offers plenty of resources to help business owners navigate the system and related regulations.
Current State of Nevada Cannabis Regulations
Nevada cannabis regulations are a work in progress as of 2020. The state is one of twelve in the U.S to fully legalize both medical and recreational marijuana. This has opened the doors for growers and manufacturers to open facilities and be part of an exciting, fast-paced market.
Applications to open a Nevada cannabis facility are not available 365 days of the year. Instead, the state accepts them during specific windows, so aspiring cannabis business owners must pay close attention to those timeframes.
If you applied previously and were denied, there is some good news. In an effort to improve transparency within the cannabis industry in Nevada, Senate Bill 32 was passed in 2019. This bill releases the details regarding previous license applications and each individual applicant’s score and ranking.
There are some general requirements for opening a cannabis business in Nevada:
- The entity must control $250,000 in liquid assets.
- No staff member at any level can have prior convictions or certain felonies, verified by mandatory fingerprint submissions of every employee.
- Owners must pay all relevant fees.
- The property must be owned or have permission from the landlord to sell cannabis products.
- Premises must also be 1,000 feet away from schools and 300 feet away from churches.
- All proposed practices must be compliant with the Nevada Department of Taxation, as well as any local jurisdictions.
- All cannabis establishments should have discreet signage, a professional interior, and one secure entrance.
Additional rules depend on what type of facility you are running, so be sure to check all relevant laws.
The most current license data is from February of 2019. According to the Nevada Department of Taxation, the current recreational license count is as follows:
- Dispensary Licenses – 66
- Cultivation Licenses – 134
- Production Licenses – 96
- Laboratory Licenses – 11
- Transportation Licenses – 26
Those interested in applying for a license can sign up to receive notifications about the open application period here.
Contact Us to discuss cannabis Licensing Opportunities in Nevada
The History of Cannabis in Nevada
Medical marijuana was legalized in October of 2001. Due to unfortunate delays in the permit process, it wasn’t until 2013 that commercial distribution was made possible. The first provisional certifications for facilities were limited to 372 businesses, making for stiff competition.
Recreational use of Cannabis was legalized in 2017, and the first round of licenses was awarded the following year.
Nevada Cannabis Consulting services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in Nevada . Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Market Conditions in Nevada
A bill allowing for marijuana consumption lounges was among a flurry of last-minute measures approved by Nevada lawmakers before they adjourned for the year.
According to the Las Vegas Review-Journal, the state Senate passed Assembly Bill 341 with an overwhelming 17-3 majority, which will allow Nevada regulators to offer two new types of marijuana business licenses related to consumption lounges:
- One for retailers that want to open consumption lounges on the same property as their retail shops.
- One for stand-alone lounges that will be limited to single-use products, in the same manner as bars that sell alcohol.
Alcohol will not be permitted to be sold in either type of establishment.
In 2019, Nevada marijuana sales reached $692 million, a 20% increase from 2018. Sales in 2020 are projected to reach new heights, but COVID-19 has slowed the industry’s progress.
If you’re looking to break into the Nevada cannabis industry on any level, you don’t have to do it alone. At Higher Yield Consulting, our experts understand every part of the complicated licensing process. We can help you and your business from the ground up! HYC excels in helping our clients navigate cannabis regulations, market strategy, safety and security, and even marketing and branding. Let our team help your team succeed in a competitive market.
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