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The Secret to Starting a Medical Marijuana Business

Think business advisors

Cannabis for medicinal use is becoming a big business in the United States. Medicinal cannabis has a variety of benefits on conditions ranging from depression and glaucoma to multiple sclerosis and forms of cancer. Right now, 23 states and Washington, D.C., allow for the medical marijuana operations, such as dispensaries. These dispensaries, which tend to be either standalone businesses or connected to a pharmacy or medical facility, are able to sell cannabis to anyone who has a prescription.

However, these businesses can’t just start operating without extensive cannabis business licenses, and they often need help with medical marijuana cultivating and marketing. But those looking to start one of these businesses aren’t alone. Here are three things that cannabis consultants can help these entrepreneurs with before they open any medical marijuana operations:

    1. Cannabis Business Licenses: Whether selling recreational or medicinal cannabis, a business has to obtain proper licensing in its state in order to operate legally. This arduous process can take a long time to complete and often requires written proposals submitted to state agencies. Cannabis consulting firms help with these tasks, and they also are well-versed in the legal requirements for these businesses. Working with a consultant could put a business on the fast track to success by keeping company founders informed of all regulations and laws they must comply with.

    2. Medical Marijuana Cultivation: A large part of selling medicinal cannabis comes from knowing which strains should be grown and sold. For example, the two most popular strains, indica and sativa, both serve different medical purposes and are used to treat different conditions. A cannabis consulting agency can give businesses the advice they need on growing the right kinds of plants.

    3. Medical Marijuana Business Branding: Finally, when the business has launched or shortly before it is set to, these companies will need to advertise to make consumers and medical patients aware of their services. Branding goes beyond advertising, however, and also encompasses the range of products sold. From the cultivated cannabis to the edible marijuana treats, businesses will need to register their trademarks and/or patents and develop one of a kind products that consumers can’t find elsewhere. Cannabis consultants can also help with this task.

Do you have more questions about starting your own medical marijuana operations? If so, get in touch with a consulting service to find out what you need to do. You can also leave a comment below for more suggestions.

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February 2015
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