Say you’ve taken the leap and applied for a license to operate a cannabis business, but you’re completely new to the industry as well as business ownership. How do you get started? What do you need to form a successful operation? Where do you go to get truly educated not just about cannabis but business practices as well?
The extensive network of professionals that comprise Industry Source Consulting (INSO) can address all your questions, needs, and more. With proven experience in the cannabis industry, we’re able to advise in all areas related to running a successful business. We have seasoned experts within every state where it’s legal to cultivate and sell cannabis. Whether medically, recreationally, or both, we know what business structures you need, how to obtain proper licensing, and any other requirements for running a legal business. Each state has different requirements, so working with a team familiar with the local rules and regulations provides a huge advantage. Additionally, the network INSO works with has been carefully vetted to ensure reliable services in real estate, cultivation, equipment procurement, marketing strategies, and operational support.
Getting a cannabis business off the ground means having a base of operations. Finding the right piece of property can be tricky since you’re not only dealing with availability, but also local laws and regulations. Only certain buildings are zoned for cannabis operations and among those authorized locations, not every building owner may want your business. INSO helps you find viable locations for your cannabis business and then works with you to find the best deal for leasing or purchasing the space.
The science of growing cannabis is complex. Not only do you need the right environmental conditions, but you want a strain of plant that’s guaranteed to be popular with customers. The first decision to make is whether you want an outdoor grow operation or an indoor. Different materials are necessary for each type of operation. Indoors, you’ll need to supply all the soil and nutrients, establish systems for watering and lighting the plants, and control temperature closely. Outdoors, you won’t necessarily need lighting or temperature control, but you may need to add nutrients to the soil for an ideal mix and set up a watering system. Regardless of your location, certain equipment is also necessary for successful cultivation. From supplies, to equipment, to developing the right genetic strain of a plant, INSO has vetted vendors to help you.
Once plants are ready for harvesting, big equipment becomes necessary. Having an extractor on hand to transform the plants into oils as a standalone product or within edibles can play a big part in your profit margin. However, sometimes owning these large pieces of equipment can be cost-prohibitive for a new business. The financing options INSO provides enables you to maintain your business structure without skipping a beat.
Not every part of your cannabis business structure has to do with the product itself, Once you’re ready to start selling, you need a plan to attract customers. Marketing strategists at INSO can help you develop a cohesive marketing plan that includes attractive signage, social media campaigns, and strategies for advertising in cannabis publications. Our team can advise you on how to set up your dispensary to maximize exposure and sales as well.
From logistics to human resources, these elements are essential in any business, but they get slightly more complicated dealing in cannabis. This is primarily because it’s an all-cash business. This requires you to take on additional security measures to ensure your product and your profits stay safe. You also want to hire reliable and honest employees who will act professionally, provide good customer service, and protect your business. INSO has established relationships with vendors who can help keep your money secure and onboard quality employees.
With 140 years of combined experience in business management, INSO has already taken the hardest step for you when it comes to starting a business. We’ve made all the beginner mistakes common for those just starting out. Regardless of industry, but especially essential in beginning a cannabis business, it’s important to not let the mistakes take hold. INSO can not only catch the mistakes before you make them, but we can untangle any complicated situations you find yourself in as a new business owner. We’re focused on getting your cannabis business on a course for success. Contact us today to learn more about how we can help you establish the best business possible.