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Cannabis Equipment and Procurement Financing

Cannabis Equipment and Procurement Financing

Finances are often spread thin when launching a new business, and working in the cannabis industry is no different. A major area of expense is the equipment required to run a successful cannabis business. An ideal solution to acquiring what you need without having a huge financial burden is to lease the equipment and conserve valuable capital.

Industry Source Consulting (INSO) understands that equipment needs go beyond simply processing the cannabis. From extractors to farm equipment to cash registers, we’re able to advise you on the right equipment for your business in addition to offering financing options.

Cannabis Equipment Financing - INSO Consulting

Four primary categories of equipment

Right from the start there are certain items you need to get your business moving forward. These are all associated with preparing product to sell. The variety of supplies vary based on many factors including the size of your space, the quantity of product you’d like to produce, and your geographical location. Regardless of whether you’re launching a small dispensary or maintaining a commercial cultivation facility, INSO is able to accommodate your supply needs in:

  • Extraction — The cost of an extraction machine can run between $75,000 and $150,000, however available machines range significantly in price without necessarily compromising on quality. There are a lot of options out on the market, and INSO can help you determine what will work best for your yield while still remaining cost-effective.
  • Lighting — The cost of creating a lighting system can be expensive. The average starting
    price is approximately $120,000, but this is highly influenced by your space. The square footage and ceiling height affects the type of lights you’ll need, and grow cycle, electricity budget, and temperature controlling equipment needs impacts what you can afford. Factoring all this together, INSO can help you establish how much you really have to pay toward lighting and whether a leasing option is the best way to get the lighting you need now.
  • Cloning — A quality cloner, with 30 grow slots averages around $1000. This may be all you need as far as equipment goes in this area, or it may not be nearly enough. Cloning equipment can get as large as 300 slots if you’ve got the ability to support production at that level, but you may not need it. Finding the sweet spot in this area so that you’re only spending on cloning equipment that accommodates the output you’re capable of is essential. INSO can help you find the right balance.
  • Cultivation — This includes a variety of supplies; everything you need to grow your plants. As a result, this is where you may end up spending the most and having the greatest variable in costs. Your geographic location helps dictate what kind of soil and nutrients you’ll need, as well as how much water your crop will require. The strains you’re growing will also impact costs in this area. Add in farming and additional lighting equipment, and you’ve got a long inventory of supplies. INSO can help you understand how to create the best growing conditions in your area and then create a budget to maintain your crop and get the highest yield.
Cannabis Equipment Rentals or Lease to Own - INSO Consulting

Advice on equipment

Our goal, at INSO, is to help you get your operation up and running as quickly as possible. We’re ready to share our expertise on finding the right equipment, based on the feedback we’ve already collected from our testers, growers, and manufacturers. Keeping track of our current clients gives us applicable knowledge to pass on to new clients. This helps you make informed decisions on equipment, even if you end up with a little sticker shock. It’s good to know that cost doesn’t always mean best performing when it comes to cannabis equipment, and we’re able to help you find the best price for the right machines.

We not only tap into our existing vendor relationships to help you procure the equipment and tools you need to run a successful business, but we make sure you’re fully covered in case of an emergency. If any equipment experiences general mechanical failure, we’re right alongside you to get things fixed or replaced fast. We ensure you’ve got the proper protection in place for any of your equipment whether you own or lease.

How cannabis leasing works - INSO Consulting

How the leasing process works

Leasing through INSO takes the burden off you when it comes to maintaining your equipment. As the actual owners, we handle the regular maintenance as long as everything is used properly. A monthly maintenance protection plan is part of your lease agreement. If you’ve maxed out your investors and other financing options simply because you’re a new business, with a lot going on, our buying power gets us the best deals on equipment, and we’re able to pass those savings down to you. INSO offers lease-to-own plans as well as buyout options to allow you to own your equipment on the timeline that works best for you.

To start the process of receiving financial assistance from INSO, you need to:

  • Prove you have a license.
  • Demonstrate your business is creditworthy.
  • Share your business plan.
  • Display a serious and professional outlook on breaking into the cannabis industry.

With your drive for success and our knowledge and experience, INSO can provide you with access to the equipment you need to get your cannabis business running. Contact us today to learn more about our equipment financing options as well as our additional services in property acquisition, marketing and human resources development, and legal support.