Starting a medical marijuana business is a complicated venture but one that offers huge profits. From choosing your location and the type of cannabis plant you will grow to your medical marijuana facility design to marketing and fulfilling legal requirements, there are almost too many factors to keep track of for one individual. Medical marijuana firms offer their know-how across a number of fields, including how to set up your medical marijuana operations, marketing and how to meet the requirements of conflicting state and federal laws.
Choosing your medical marijuana facility design
There are many different factors to keep in mind when picking your medical marijuana facility design. The cannabis plant can be grown indoors or outdoors, in soil or hydroponically. There are two major types, as well as hybrids, depending on the specific medical purpose for which they will be used. Harvesting, processing and packaging operations will need space, staff and expert knowledge.
Growing and production are a major part of the operation but you will also need help with medical marijuana marketing and with meeting all state and federal requirements regarding taxes and record keeping. This is complicated enough for any business, but especially so when it comes to medical marijuana cultivating. This partly because regulations are still in process of being developed for this new industry, and partly because state and federal regulations are sometimes in opposition to each other. A specialist cannabis consulting firm can offer you advice, guidance able help in this area.
How can a cannabis consultant help you?
State and federal regulations regarding the cultivation and sale of legal cannabis are very complicated and even contradictory. Since medical marijuana is legal in 23 states and the District of Columbia but illegal under federal law, it takes detailed knowledge of the regulations to avoid the pitfalls. This is where you may find yourself in need of help and advice.
Other legal complications in relation to the industry may arise when it comes to contracts, which may not be enforced by the courts. For all kind of legal problems connected with medical marijuana marketing, professional consultants with wide experience can help you navigate the risks in order to reach the rewards.
Profits from legal marijuana are projected to grow
Legal marijuana is high-growth industry and earnings over the next five years are projected to be greater than revenues in the film industry or organic food, and three times greater than NFL revenues. With 58% of all people in favor of full legalization, a figure that’s up by 17% from 2010, the potential earnings will be even greater.
In the year 2015 the earnings from legal marijuana are projected to increase by 32%. Few other industries can match this level of growth. As the benefits of the medical use of cannabis become evident to more and more doctors and patients, its use can be expected to increase.
So if you’re thinking of investing in the medical marijuana business, this is a good time. A specialist consulting firm cam guide you through each step of the process, from your medical marijuana facility design to marketing to taxes and record keeping,
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