The medical cannabis industry is exploding with growth. More and more dispensaries are opening up across the nation to offer medical cannabis, and some states now legally offer cannabis for recreational purposes. If you want to get in on this industry, you might be thinking of becoming a medical cannabis cultivator. A cannabis cultivator is someone who actually grows the cannabis and then provides it to the dispensaries or other legal points of sale.
Hopefully, you realize that this industry is heavily regulated and that means you have some homework to do before you can get started. Here are some tips to remember before starting a business as a medical cannabis cultivator.
Research Your State's License Requirements
Every state where cannabis is sold has different requirements for the individuals or companies that grow it. Typically, when you receive a medical cultivator license, you will be authorized to grow cannabis within a specific amount of space or square feet. Take a look at your state's requirements and then look at how much space you have to work with before you apply. It might be best to start out smaller while your business grows.
With all that said, one thing you do not want to do under any circumstances is to start growing more cannabis than you are properly licensed to grow. Doing so could put you into legal jeopardy and shut down your business altogether.
Get Legal Help and Industry Expertise
Because of all of the regulations and licensing requirements that cultivators have to comply with, it can be incredibly helpful to have an attorney or industry veteran on your side. Someone who can advise you on what you should and should not do before you make any decision. As a cannabis cultivator, it's a good idea to start seeking out legal and other experts long before you open for business so you are prepared for just about anything.
Work Hard to Market Your Product
Finally, while you may love the idea of having your own cannabis farm, you need to do the same due diligence as with any other business and make sure there is actually a market for your product. Dispensaries and other points of sale tend to be loyal to the cultivators they already have. Make sure you have a market available to you as a new company by contacting local points of sale before you begin growing.Share