According to current estimates, if all 50 states legalized cannabis, they could collectively earn $3 billion or more in taxes from the sales and production. For now, however, just under half of all states allow for the sale of legal cannabis, and in most states there are restrictions on these sales.
There are two different ways that cannabis can be legally sold in the United States: for medical use and for recreational use. Twenty-three states and the District of Columbia allow for the distribution of cannabis for medical use. Only four states have legalized cannabis for recreational use: Alaska, Colorado, Oregon, and Washington. Each type of sale has its own regulations and requires a certain type of business license for selling marijuana. Those are thinking of opening these stores and dispensaries can benefit from meeting with cannabis consultants before they officially begin operating. Here is how each type of business can benefit from these professionals:
Medical Marijuana Consulting
Because dispensaries are run either independently or in addition to a medical facility, they have extra precautions to take to ensure that they operate safely. Medical marijuana consulting experts can find ways to market products in a way that complies with that state’s laws. They can also make sure that taxes are paid properly to the state and federal government.
Cannabis Business Development
For those who don’t have strictly medical cannabis-related businesses, there are many different options in terms of branding and marketing that they can make. Many choose to create their own products, for instance, so they may have branded cannabis treats or specific cultivation methods for their cannabis. In addition to figuring out a sound marketing strategy, however, these businesses also need to obtain the right types of business licensing. They may also benefit from advice concerning accounting, taxes, and other legal matters to ensure that they are operating lawfully.
Have more questions about running a cannabis-based business? Get in touch with a business or medical marijuana consulting firm as soon as possible. You can also leave a comment below for general questions.