The 5 Necessary Elements When Opening a Marijuana Dispensary

BERKELEY, CA - MARCH 25:  Samples of medicinal marijuana are displayed at the Berkeley Patients Group March 25, 2010 in Berkeley, California.  California Secretary of State Debra Bowen certified a ballot initiative late Wednesday to legalize the possession and sale of marijuana in the State of California after proponents of the measure submitted over 690,000 signatures. The measure will appear on the November 2 general election ballot.  (Photo by Justin Sullivan/Getty Images)

The 5 Necessary Elements When Opening a Marijuana Dispensary

If you are reading this article more than likely is because you or somebody you know is interested in opening a marijuana dispensary. The Cannabis Industry is a challenging one and GreenAcre will help you through the process of applying, staying compliant and thriving in the Industry.

A Consulting Firm, an Insider in the Industry

You need guidance in this industry! Many professionals claim to have knowledge, but most are outsiders. They might have business knowledge, but not cannabuisiness knowledge. We always tell our clients, you are not opening a restaurant. You are dealing with a medicine that is Federally a scheduled 1 substance, according to the Controlled Substance Act. A great consultant will know the best industry practices and will possess key political connections. Corollary, GreenAcre is well connected not only in the cannabis industry, but also politically.

A Business Plan, the Heart of your Application

A comprehensive Business Plan is key to success in the Cannabis Industry. The Business plan will essentially be your application for the state license. Moreover, you will need the business plan when you look to raise capital for you CannaVenture. GreenAcre will develop your Business Plan. The Business Plan can be modified later to apply in any other state where Marijuana is legal, or becomes legal.

A lawyer, Who Can Also be Your Consultant

Cannabis Laws vary from state to state, county to county, and change constantly. You need an attorney to keep you in compliance with local and state regulations. A lawyer can also be helpful when it comes to reviewing contracts and securing property. It is a plus if your lawyer is also a cannabis consultant.

Funding, the Muscle of the Operation

Applying for a license and opening a dispensary facility can be costly. Whether you are a solo investor, a group of investors or you are seeking investment, a CannaVenture is a huge financial undertaking. You need to “put your numbers together first,” to be sure you have enough resources for your project. Also keep in mind that, the failure rate in the Cannabis Industry is at 44% within the first 4 years. If you are looking for investors, GreenAcre will connect you with investors in the Industry. If you are looking to invest, GreenAcre has access to the best projects available in the Industry, globally.

An Accountant, compliance with the Federal Government

You need an accountant, period. The accountant works together with your consultant in the creation of your Business Plan, and in case you are seeking investors. Moreover, they need to keep you compliant with the tax code 280E and other relevant tax implications. GreenAcre’s network has the most qualified consultants in the Industry.

 

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