Industry commentators think we are in the midst of a “green rush” here in California with many new cannabis businesses starting up to take advantages of the relaxation in the marijuana laws in the state. It was only in November 2016 when recreational based cannabis businesses could legally operate within the Golden State.
Based on these new rules, the regulators are able to issue new licences until 1st of January 2018. But, it is unclear at this stage whether the state will open up the license period to entrepreneurs. It is important that you read through the various regulations and identify what business you would have under the new regulations. This will determine how hard or easy it will be to get a license within California.
There are various starter packs available, which can help you get started. Often key to the success of any business is to draw up a business plan, which can then be presented to various investors who may wish to join you in building up your business. It is important that you plan everything before you set out.
You may be wondering how to open a retail store for cannabis in California? It is possible, but it will entirely depend on the city that you wish to operate in, as well as the county you choose. The reason for this is because the state has put a measure in place where local counties can ban marijuana retailers from operating. Make sure you check where your local county lies on this.
So, here is a basic timeline that you should follow for setting up your business:
- Create your corporate structure.
- Write your business plan
- Identify where you will operate and see if it is possible to operate in the county you wish to do business from.
- Obtain the licenses to operate your retail store before you begin operating.
- Once you have all the licenses in place and comply with all the regulations, you can then open for business.
- After opening, you may wish to contact cultivators and other manufacturers in order to offer a wide range of marijuana products. You could grow the produce yourself.
If you are looking to be a cultivator, you must comply with the regulations and obtain a license, like the retail store described above. The only difference in the timeline above is that you will be reaching out to your local dispensary (use the dispensaries near me tool).
There are many other ways you can enter into the cannabis industry in California. For example, you could offer your own delivery service. Or, it is also possible to even start your own cannabis edibles company.
We wish you good luck with your new venture. There is a lot of money to be made in the cannabis industry, especially within California, so it is a lucrative industry to get into.