Finding property for a cannabis business

Michael WilliamsonBusiness, ComplianceLeave a Comment

finding-property

You have a passion for cannabis. You see the industry’s potential to grow. What you once thought as far fetched – owning a legal cannabis business – now seems like a fulfilling, rewarding venture. You’ve decided to start a marijuana concern of your own.

But what are the necessary steps involved with getting one off the ground? Over the course of the next several weeks, we’ll take a look at what’s involved in getting your business off the ground, especially from a regulatory perspective. Part 1 is about finding property.

Don’t worry if you’re confused about the regulatory aspect of operating your business. The Simplifya platform will make it easy for you. Schedule your free demo today.

Finding property

Assuming you’ve done the requisite soul searching, networking, and found working capital, you may be thinking that you’ll need to secure some land or space to start your operations. If you’re in the position to own your property outright, that’s great! We’ll get tell you how to keep your location compliant in later blog posts.

However, if you’re looking to rent property for your business, you’ll face additional hurdles to getting and maintaining your license. First and foremost, you must be upfront about the fact you’ll be running a cannabis business with any potential landlords. Sure, that may complicate your search at times.

However, concealing the fact you are operating a cannabis business will make it more difficult, if not impossible, to get your license. State licensing authorities may decline to issue your license if they notice your landlord isn’t informed about the true nature of your business. Furthermore, concealing a large grow or dispensing operation could lead your landlord to begin enforcement actions. This would obviously be a costly and disruptive event.

The bottom line

Be upfront with potential landlords and property managers. The honesty may mean more work in the short term, but the benefits of being truthful will pay dividends over time.

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