It’s ridiculously hard to start a marijuana business in today’s cannabis industry without financial backing from other people.
- It’s not like deciding to open a random shop on a street corner, the rules and regulations in particular states are particularly formidable.
The licenses aren’t handed out in the thoUSnds by the state whenever medical or recreational cannabis is passed by the voters or state legislature. They’re hotly conran tests on, and often cost upwards to tens of millions of dollars or more for a single license to sell or grow cannabis legally within the state. Even if a smaller corporation manages to secure a loan, they won’t survive in the market unless they can scale at the same rate as their competitors. This adds millions of dollars more of capital needed to survive the first two years within your state’s brand new legal cannabis program, regardless of whether or not it’s recreational, medical, or both. Worse yet, in my state it’s even harder to operate a cannabis business for 1 reason in particular. Here you must own every aspect of the growing and retail process to secure a license within the state’s medical cannabis program. What that means is you’re forced to do everything from seed to sale—you must grow cannabis, process it, and sell it within 1 single corporation or corporation. Unlike other states where you can operate a dispensary and get stock from several growers, here you are the grower and the seller. Each dispensary only stocks cannabis that they grew within their own growing facilities. AS a result, some medical cannabis dispensaries here have harshly better weed than others.
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