In the United States, the cannabis industry is expanding at a rapid pace, and as a result, more and more entrepreneurs want to start their own businesses. From medical marijuana dispensaries to recreational retail outlets, and from cultivation to wholesale, there are all types of businesses that operate in this multi-million dollar industry. If you’re considering opening a business, you’ll need a license to operate legally.

Before you get a marijuana business license, you’ll have a lot to think about — and that’s even before you reach out to a cannabis business consulting firm. Here are three things you should think about before you begin crafting your proposals or scouting out locations:

Consider the many different types of cannabis businesses.

Where will you fit in on the supply chain? There are all kinds of cannabis businesses today, and not all of them are at the retail level. For example, you may be more focused on the growing aspect of the business, so you can take the time to develop a cannabis cultivation business plan. Knowing exactly which type of cannabis business you want to run will help you as you develop your business plan.

Think about your business plan.

Before you go anywhere or seek out the help of experts, think about what exactly your business will accomplish. Also think about the laws in your state. Will you be able to open a recreational cannabis shop, or are you starting a medical marijuana business? Both types of businesses are very different and will have different requirements as you apply to get a marijuana business license.

Work with cannabis consultants.

If you’re trying to get a marijuana business license, then you have a better chance of success with a professional team on your side. Working with a cannabis consulting firm will give you a better idea of how to create a winning proposal, which will go to your state, and your consultants can also give you information and guidance on running your business. Because cannabis is legal at state levels rather than federally, there are also some regulations you’ll need to be familiar with before you begin.

Have more questions about starting a cannabis business? Find a consultant in your area who can answer all of your questions. You can also leave a comment.