Getting it Right the First Time
Due to the newness of this industry, the regulations and laws surrounding it are always changing. It is normal to underestimate how complex and detailed the cannabis business licensing process is. Applying for, and obtaining a license in your state is the first hurdle and the stakes are high. You could only have one chance at applying for a license and success is your only option.
Once the final draft of your state’s regulations has been completed, it is time for you to be prepared and determined to be one of the early winners of a license. It is common for a state to only give a few licenses to winners in this first round, and then wait several years before allowing for more businesses. States may not issue additional licenses until the program has matured and been evaluated. There is also the chance that legislation can change, as such, regulations will follow suit.
Applications are assessed in great detail. Regulators remain concerned about the legalization of medical cannabis and are scrupulously evaluating all aspects of your plan, your team and your ability to create an outstanding case for your business license.
Further complicating the process, each state has its own, unique licensing requirements. For example:
• Some may only allow dispensaries to sell cannabis they grow themselves
• Others require separate licenses for cultivation and dispensing
• The regulatory framework for the processing marijuana varies by state
Starting your Cannabis Business License Application
How can you ensure that you submit your best possible plan, complete with all the operating procedures, building plans, security designs, job descriptions, operation manuals, financial projections, marketing plans and time tables? To get it right the first time, you’ll likely need some expert assistance.
Canna Advisors will partner with you to complete a marijuana business license application for your state’s particular regulations crafted by an experienced staff, each of whom have already successfully submitted and won multiple licenses. You’ll receive valuable input on construction, cultivation, business operations, marketing, hiring local talent, etc.
When complete, your application will showcase your comprehensive skillset, your best ideas, and a thoughtful, consistent narrative that make your application compelling and unique. You must submit a final draft that conveys the fullest potential of your expert team, especially in the critical areas of security and inventory control.
Hiring your Best Team of Consultants
How do you know who will deliver the best results and give you the guidance you need to succeed?
Ask your potential consultants some questions:
- Do you do this full time? Full time cannabis consultants are working in the industry every day. They know when regulations change, what works best and how to present solutions to the regulators.
- Are you familiar with medical marijuana uses and knowledgeable about particular product strains? They should be able to respond to open-ended product questions and be current on how different strains are used to help patients.
- How many applications have your completed and how many merit-based licenses have been won? Experience with obtaining licenses in various states is critical to show they know how to work under various state regulations.
- Do you already have documents available as “templates” to create manuals, handbooks, recordkeeping procedures, training materials, etc.? Experienced and successful consultants will have a head-start on procedures and documents you’ll need to prepare for your application.
- Are you comfortable working with local architects and engineers? Your consultant must understand the design aspects of your plan and possibly help with your build-out.
- Will you be available to continue working with us after we are granted our license? It would be valuable to have the same team assist you with your hiring, training, operations, inventory control, etc., to get you up and running quickly and efficiently.
The complexity of your medical marijuana license application combined with the risk of omitting something or simply not providing the correct information, can all lead to missing out on the opportunity to be first in your market and may mean years of delay before you can re-apply. Canna Advisors has prepared dozens of license applications across the country and won more than 80% of those submitted.