Opening a Dispensary? Don’t Forget About These Three Cannabis Resources to Get Started
In the next five years, the legal cannabis industry is projected to be worth about $10.2 billion, if not more. This rapidly expanding field has attracted entrepreneurs with all types of business experience, from those with a passion for retail and sales to individuals interested in cultivation and wholesale. Some prospective business owners may even be interested in niche markets, like medical marijuana marketing.
Yet starting a cannabis business can be difficult given the strict licensing requirements for these businesses and the laws surrounding legality, taxes, and other issues. Fortunately, there are plenty of cannabis business resources out there for investors and those who are “green” in the industry, as well. Check out these three invaluable cannabis business resources that all entrepreneurs should take advantage of:
Work with cannabis consultants.
Sometimes when you’re starting a business, you need the advice of someone who knows the industry well. Good cannabis consultants have the experience and knowledge necessary to help you through the cannabis business license process and help you set up other aspects of your business. For example, a consultant will understand where you can establish a dispensary that will not only be welcomed by the community but have the best chance of succeeding.
Ask out-of-industry experts for advice.
Just because you’re looking for cannabis business resources doesn’t mean that you need those resources to be 100% related to the industry. There are plenty of local and international entrepreneurs who can guide you as you take the steps to start a business. Look into other industries and see what the most successful businesses have in common. Is it their marketing strategies? The products they offer? Their customer service? Whatever it happens to be, you can take that knowledge and apply it to the industry.
Check out trade shows and expos.
Because legal cannabis is catching on throughout the United States, both for recreational and medicinal purposes, there are plenty of industry networking events that are perfect for both new and experienced businesses to attend. Those who are just starting out in the industry get to hear from experts on what works and what doesn’t work when it comes to cannabis marketing. Additionally, these events also give all business owners the chance to network and connect with others on the supply chain.
Do you have more questions about finding the right resources to start your business? Leave a comment below.