Cannabis is legal in many states across the US now, and things are moving in a favorable direction. Not surprisingly, more and more startups are emerging in the industry.
But entrepreneurs often confuse legality with legitimacy, leading to costly mistakes. Things are relatively simple for retailers and ancillary businesses, but growers can face more complexities.
Besides the location, you need to consider many more things to set up a legit cultivation operation. It is crucial to clear your facts before going ahead to be on the right side of the law.
Top 3 Tips To Establish A Cannabis Cultivation Business
Here are some tips for establishing a legit cannabis cultivation business…
1. Know the overall legal landscape
Before checking the laws related to cannabis cultivation, know the overall legal landscape in your state. Some states legalize medical cannabis, while others make it legal for recreational use too. This factor determines the viability of the business in your area, so knowing these facts is crucial. After all, it does not make sense to run a business in a place where there is no demand for your product. Research the upcoming laws that may come ahead in the near future. It is vital to have a clear view of the existing and upcoming laws before starting.
2. Understand the regulatory requirements
Once you are sure about the current and impending laws working in your favor, understand the regulatory requirement for growing operations. Evidently, you will have to know what states can you grow your own weed before checking your real estate options. For example, you cannot expect to run a legit one near a school, library, or public park. It is wise to pick a remote location where you can grow discreetly. But make sure it is accessible for smooth supply chain operations. Further, you will require some licenses and permits to set up the cultivation operation. Make sure you have them at hand so that you do not land in a fix later. Also, keep them updated according to the evolving regulatory requirements.
3. Ensure security for your crop
Security should also be your top concern when you set up a cannabis cultivation business. The crop is expensive, and the last thing you want to deal with is theft and pilferage. Moreover, you have to track every single plant from seed to sale stages to stay compliant with the regulations. Implement apt security measures to ensure safety from external and internal threats at all times. Physical security with surveillance systems and guards can protect your crop from external perils. But you have to go the extra mile to prevent employee theft. Have only vetted workers on board and let only trusted people access the plants. Implement relevant policies for safeguarding the operations.
Covering the legal aspects should be your priority when it comes to setting up a legit cannabis cultivation business. You can run the operation successfully only if you do not have to worry about going on the wrong side of the law. Follow these tips, and you can make it grow and thrive.