1 / 7

Things You Should Know Before Starting a Cannabis Based Business

Get Medical Marijuana Legal Advisor at 7 Point Law. We are offering strategic legal counsel for the cannabis industry in California and is having an experienced team. Visit Now!<br>

7pointlaw
Download Presentation

Things You Should Know Before Starting a Cannabis Based Business

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Things You Should Know Before Starting a Cannabis Based Business By 7 Point Law

  2. Introduction: Marijuana is being legalized in many countries now. With this, many interested parties reach out for cannabis industry consulting. Each state’s program is different, there are many steps that you can take before a program is defined. This will help you establish a foundation on which your application effort will be built.

  3. Step 1. Make Yourself Learn Things The first and the foremost thing that you can do is to learn as much as possible about the program. Whether your state is implementing its first limited medical marijuana program or expanding to an adult use program, you need to learn about each and everything. Learn as much as you can about the existing regulations.

  4. Step 2: Identify Your Goals: The marijuana industry is broken into 3 primary business functions namely, cultivation, manufacturing, and retail sales. In some states, the licensing is broken down even further by adding licenses for distribution, transportation, and delivery. The licenses you pursue will be dedicated by your state’s program. Some states only issue vertical licenses. These licenses allow businesses to cultivate, manufacture and retail their products. Other states do not allow entities from being vertically integrated.

  5. Step 3: Start Planning Your Business A vision is not the only thing that will take you far. At some point, you will need a good business plan. This plan should include detailed financial modeling to turn your vision into reality. It is one solid item that you should work on. A great business plan can help you select business partners, secure a location and can start pursuing investors.

  6. Step 4: Become an Industry Advocate: Given in the history of cannabis in the US, it’s not always easy to step forward as an industry advocate. You will be astonished to discover how many of your friends and family members will be supportive to you when you will talk openly about your intent. Your advocacy will provide various benefits for your efforts. You will be helping to build support for the program and also will get a chance to meet like-minded people that will become team members or supporters of your efforts.

  7. Contact Us: If you have any questions, you can ask us. At 7 Point Law, we have a knowledgeable legal team that can help you in california cannabis industry, company formation, risk management, water rights, cash flow, employment and much more. Also, we have been in legal cannabis from the beginning and remain visionary lawyers wanting to educate our clients on the best business practices.

More Related