Essential Guide To Consider Before Getting Into Cannabis Retail!

cannabis plant in a licensed producer

Essential Guide To Consider Before Getting Into Cannabis Retail!

Are you thinking of opening up a cannabis shop? Are you wondering how to sell cannabis in Canada?

Maybe you are a shopkeeper at heart, lured to a lone inspiration of hope in a depressing retail environment. You might want to make your imprint in this booming business because you missed out on the first wave of the green gold rush and are aware that customers in this market have shown a preference for in-person over online shopping. Or perhaps you’ve just learned that in May of this year, Canadians spent $85 million on legal marijuana, and you want a piece of that green.

Whatever your reason, starting a cannabis retail business is a bit more involved than just finding the perfect pot pun for your company name and renting a storefront. It’s a new industry in an endless beta test as governments adjust the rules, parameters, and procedures to meet the demand for a good that was illegal less than a year ago. The environment is at once highly regulated and unpredictable fluid, from growing to selling to buying. There’s a reason why the first bit of advice most individuals in this industry give is to “hire a consultant.”

And for that reason, we are not saying that this is an all-inclusive guide on starting a marijuana shop. Instead, it serves as a guide for achieving your goal of opening a legal retail cannabis business and a warning of the dangers to avoid to prevent your dream from disappearing in a puff of smoke.

Get professional help

The environment is overpowering for someone entering this area from a typical retail setting. People who have been in this space for seven to ten years still learn something new daily. Consultations with consultants or other marijuana industry experts and maintaining a close relationship with them throughout the protracted process of establishing your cannabis retail empire will be among the first and finest investments you can make in your new firm.

Get the green up front.

While we’re talking about money, we should caution you that most banks won’t consider giving cannabis shops business loans and that it will get harder to find financing as the market grows and early-stage investors have already committed to other projects. Since Canada demands proof that prospective permit holders have access to $250,000 to fund their businesses before they even consider them in the lottery, this might provide a significant obstacle for certain people. Some credit unions have been willing to deal with prospective pot shop owners if you don’t have that much change tucked away beneath the sofa cushions. Think about using a crowdfunding website or enlisting the help of relatives and friends.

Get a license

License is the most important thing when it comes to the cannabis business. Without a license, you cannot sell, distribute, or grow cannabis. With the help of consultants, you can obtain a license.

Final Words:

If you are thinking of starting the distribution of cannabis in Canada, it is the right time to visit us. We help you get a license for the cannabis business. To know more about our services, get in touch with us today!