After decades of trying to curb the illegal use of Marijuana in most parts of the country, residents from 9 states including California received the green light on its use on November 8th, 2016. With majority of the American population in line with the government’s new decision to legalize marijuana – mostly consisting of the youth along with underage users, new Laws were enforced to ensure strict adherence to contain the shift from medicinal purposes, to recreational usage as well.
While skeptics took to social media to exercise their outrage, entrepreneurs and like-minded people took advantage of the opportunity to make profit. Here are details on the new Marijuana dispensary in California and how you too can set up your own dispensary.
Handling of Marijuana especially for business purposes requires a delicate touch, as most of them are purely government regulated. Just like alcohol, a set of prohibitions were made regarding its use including:
- Prosecution to anyone below the age of 21 found in association with Marijuana.
• Anyone involved with its distribution must set up shop within 600 feet from any learning institution.
• Bulk producing Marijuana firms were asked to pave way for new smaller businesses.
Regulatory Milestones for Marijuana Businesses:
Just like any other business, setting up a Cannabis line for distribution requires capital. With the new field, open for anyone to venture into, budding entrepreneurs have to undergo the Dispensary Law passed on November 2016.
Licenses – Users and distributers would need to procure a State License from the Bureau of Marijuana Control. If its intended use is for business purposes, the need to obtain a Business license from the local city hall is deemed necessary.
Home Occupation Permit – If the intended recreational use is mostly home based, the above document would need to be procured after serious scrutiny of the area of residence by officials in strict compliance with the law. These include hygiene concerns.
Other documents – Just like any other firm, An Official Fictitious Business Name Statement is required to distinguish it from any other related firm. Articles of Incorporation and other certificates regarding the business structure you have set up will be required.
Reasons to draw out a Weed map strategy:
Disregarding skeptics and purely focusing on the benefits of the new-foundindustry, Cannabis growers seem to be on the rise in the state. Here is a deeper look as to why the industry seems to attract more entrepreneurs.
- Ready market; last population census count indicated the average population of Californian residents comprising of the youth who are major consumers of Marijuana. This is followed closely by the need from local hospitals for medicinal purposes.
- Less Monopoly: the strict prohibitions and regulations enforced by the government ensure that well established firms do not take over the market.
iii. Legalization: It’s a law that has been greatly debated on for years. Why not take advantage of it now?
- Product combinations: Adult recreational users of the drug may need to take on new related products such as roll-papers and bongs for smokers and edibles for nonsmokers.
- Discounts: liaising with pre-existing potheads for distribution and supply can greatly improve on the profits made. It may be a little rough around the edges but it’s more likely to see the job done and beat stiff competitors.
The legalization of Marijuana is a step further to empower youth by creating a conducive environment that has seen more people open to embrace a new culture.