One of the most common obstacles to becoming a legitimate cannabis cultivation business is the licensing process.Its one of the main reasons that the black market still thrives and for many companies, it’s too costly to pursue. Here are some tips to help you navigate this complicated process.
- Know Your States Rules and Regulation
This may be one of the most important rules for running any business in the cannabis industry,and the cultivation stage is one of the most critical aspects. Every state is different, and cultivation is the first step of many to reach the final cannabis product.
For example, some states implement vertical integration meaning that the business completes the entire seed-to-sale process. Some of these states let you apply for all of the licenses involved all at once, and others make you apply for each separately.
It’s integral that the growing process is safe and efficient. The laws and regulations are designed to make sure that the consumer gets the safest and best product possible.
Licenses are considered extremely valuable especially in cultivation because each state only grants a certain amount of them initially. Pennsylvania is one example of limitations as the state has approximately 13 million people and it only issued 13 licenses initially.
- Team Members
Your cultivation team should have some of the best Ph.D.-level chemists and horticulturists, so be prepared to pay them for what they are worth. The people selected should have actual commercial experience. Also, make sure to vet any members. Many teams aren’t successful because one or more of the team members has something to hide. That could mean the difference between getting your licenses approved or rejected.
Most businesses can’t afford to commit to paying a full salary to high-quality professionals because they aren’t guaranteed a license. You can usually handle this situation by making employment contingent on receiving a license. Having better team members means that you have a better chance of obtaining a cultivation license.
- Get to Know the Locals
Building a strong relationship with the locals is vital. Get to know them and be transparent about your business and goals. Usually, once people understand just how professional your cultivation business is, you’ll gain their support. This can really help your application stand out too because its one of the indicators that your business will benefit the community.
If you follow these few tips and research the process, you’ll have a much better chance of being awarded one of those coveted cultivation licenses.