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Ancillary cannabis businesses comprise all of the other types of companies in the cannabis industry. These companies are required to support plant-touching businesses but are not necessarily involved in the process of breeding, growing, refining, or distributing cannabis products. They can include professionals, such as lawyers and marketers, as well as companies that produce packaging or machinery that can improve plant-touching businesses’ processes.
Do you have a green thumb and a passion for the cannabis plant? Great! What about some extensive experience in facility engineering, propagation schedules, Integrated Pest Management (IPM) solutions, nutrient regimens, and regulatory compliance? Well, that’s where we come in. Cultivating cannabis isn’t just growing plants. To succeed, you must be prepared to grow plants under strict regulations, with high start-up costs and a rapid path to scale and efficiency. Your upfront planning, design, and engineering are critical so that you can convert your early investments to profit as quickly as possible.
One of the biggest trends in self-care, health, and beauty today is the rise of cannabidiol products, popularly known as Cannabidiol (aka “CBD”). Found in the cannabis or cannabis plant, CBD is a naturally-occurring compound that’s gained momentum for the host of alternative-care therapeutic properties it offers. CBD does not produce any psychotropic or intoxicating effects – that is, CBD users do not experience the high that is associated with cannabis. CBD in retail is becoming more prevalent and many companies are struggling with the regulatory implications.
Government regulators typically require professional development, industry training, and continuing education for employees and employers in the flourishing legal cannabis industry. Continuing education is an all-encompassing term within a broad list of post-secondary learning activities and programs, yet in the cannabis industry, you’ll find that there’s required continuing education each year to maintain certification for employment.
This method is often preferred by people who have difficulty getting around outside their homes. Even within the legal market, not all states allow cannabis delivery. The traditional model of cannabis sales in the legal market has customers go to a dispensary to buy products, whereas with delivery, a customer will make a purchase online and a courier will deliver products directly to their home. Even in the legal cannabis market, delivery is slow to take hold, and not all legal markets even offer it.
The hospitality industry and cannabis are coming together in a big way as more cities and states around the country gear up to vote on legalization. Entrepreneurs are inspired by the ever-increasing opportunities to cater to our cannabis-enthused guests, and we are all in to get creative and make this industry thrive. Quite simply, people can’t keep cannabis out of their mouths – whether it be from consumption or because it’s the topic of discussion.
Compared to the regulatory limitations and complications of cannabis, hemp can seem like a dream industry – with sky-rocketing growth and a national marketplace to serve. To an extent, that impression is true, but it’s not the full picture. The growth and opportunities are real, but so are the capital outlays the competition and the need for detailed planning. The most successful hemp entrepreneurs take the long view – thinking well beyond the heady start-up phase and planning for success even when the market’s exponential growth inevitably slows.
Cannabis manufacturing is like operating three separate businesses at once and is the ultimate in “high risk, high reward” endeavors. The potential profit margins in manufacturing are substantially larger than in other parts of the industry, but the sector’s complexity makes it a true logistical puzzle. Cannabis manufacturers must plan for extraction, formulation, and packaging – each with its own unique set of questions and challenges. When attempting such a complex business endeavor, entrepreneurs must start with extremely detailed plans and procedures for a clear path forward and the right guidance in order to succeed.
The retail experience you create for your patients or customers can improve their lives and shape the way they think and feel about cannabis. But like other retail operations, the customer experience is only one small part of the picture. There’s an entire world of complexity behind the counter, including product selection and pricing, order fulfillment, inventory management, and staff recruitment and training. Where should you locate your dispensary? What products will you sell? How will you track sales trends and manage inventory? How will you train staff and educate customers? How do you ensure your business stays compliant and secure?
In this rapidly evolving industry, one of the most common goals among existing operators is to grow into new markets or establish brand-new technologies or applications of the cannabis plant. The primary function of the plant is the generation of knowledge that contributes to science, medicine, and society through the investigation of its benefits and risks associated with cannabis. Research findings are used to translate discoveries into innovative applications that improve lives.
Regulations and standards for acceptable limits of specific compounds are currently being developed by international organizations to ensure cannabis products do not compromise a person’s immune system. Some major reasons cannabis products are tested in cannabis testing labs are to verify the products are safe for human consumption and to give consumers an idea of the potency of the product they are using. What’s been your experience?
Transportation services must have a plan for a variety of security needs – some required by government regulations, and others demanded by the nature of the business. Like many other operations, cannabis can be targeted for in-transit robberies and theft during transport, and skimming and inventory loss from the inside. Securing your cannabis business and providing a safe environment for employees is a serious concern that can be addressed with proper planning and the right vehicle equipment.
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