After marijuana was legalized for recreational use in Colorado and Washington during the last election, business has boomed for growers and sellers in those states. As a result, many entrepreneurs have been investing in cannabis and even selling it themselves in order to receive a slice of this $10 billion+ industry. However, these is much to keep in mind before beginning to sell cannabis, from getting a business license for selling marijuana to working with cannabis growing consultants and marketers to perfect your pitch and stay ahead of your competitors.
First, it’s important to know where and how you can sell cannabis. As of 2014, there are four states where cannabis is completely legalized: Alaska, Colorado, Oregon, and Washington. Fourteen other states have decriminalized small amounts of marijuana, and 23 states plus the District of Columbia allow for legal medicinal marijuana dispensaries, but that doesn’t necessarily mean that it can be sold for recreational use in these areas. Make sure that you are aware of the laws in these states before proceeding.
Once you’ve narrowed down where you can open a shop, you’ll then need to obtain a business license for selling marijuana. The process for getting a business license for selling marijuana varies by state, so it’s important to check the requirements necessary. You should also be aware of any fees that you may need to pay and certifications you must obtain first.
Next, you’ll need to decide on a location for your business. Many people choose spots near retail hubs, but there may be zoning requirements in your town or city that prevent that business from operating in a certain area. Make sure to find out where you can and cannot operate before applying for any business loans or making any down payments on a property.
Finally, operating a cannabis-related business may sound easy, but some business owners struggle with how to market themselves and their products. In these cases, it may be necessary to begin working with cannabis consultants to improve business. Marijuana consultants can give you guidance on everything from growing to branding, and they should also know the ins and outs of the business to offer you proper advice.
Have more questions about starting your own cannabis business? Be sure to check your state’s requirements and find out which opportunities are available near you. You can also leave a comment below for more suggestions on starting out in this industry.