Canna Business Services Reveals 3 Major Pitfalls In The Cannabis Industry — NEW BRUNSWICK, N.J., July 6, 2021 /PRNewswire/ — The cannabis industry is burgeoning! We asked Emily Seelman, Founder and CEO of Canna Business Services, her take on the 3 biggest pitfalls one can fall into in the cannabis industry. Navigating around these common stumbling blocks is crucial to your success in winning a license in this lucrative, newly-developing industry.
Related: 5 Things to Know Before Buying Delta-8
Obtaining a Property
Finding real estate that is cannabis-friendly and properly zoned is a top priority. You will need to obtain an agreement to purchase or lease the property. An incorrectly zoned location or one located too close to certain properties will be prohibited in your state’s/locality’s cannabis regulations. The process of finding available real estate and procuring it can take some time to negotiate with the owners, so it’s important to move quickly to obtain all paperwork necessary to apply for a cannabis business license.
Related: Health Canada Reduces Cannabis License Wait Times with New Facility Policy
Setting Up a Winning Team
Your plan is only as effective as the people you have executing and backing it. Funding your project can be another stumbling block when applying for a license. Pursue investors that are reliable, have industry experience, and are able to show proof of funding when the time comes to apply.
According to Seelman, “The ultimate goal should be to build out your team with people who have experience in both the industry and other regulated industries. Too few members and your application looks incomplete. Too many members and you may find yourself corralling individuals who are not necessary to your team —a waste of your energy and resources when you’re up against the application clock.”
Related: Vivo Cannabis Announces Completed Acquisition of Canna Farms for $133 Million
Starting Too Late
Many times people wait until the application window opens to begin planning. This doesn’t give you enough time to pursue properties, gather a team, secure financials, and begin preparing your narratives. “We have seen countless teams wait for the application window to open, resulting in their inability to create a competitive application because they only have time to establish the bare minimum,” says Seelman.
Related: Should You Avoid Aurora Cannabis Stock?
Canna Business Services provides the highest level of certainty in the uncertain and high-risk cannabis industry by serving as specialized industry guides and offering unparalleled market and compliance expertise for every step of your cannabis business’ life cycle. Visit us at www.cannabusinessservices.com. We can’t wait to hear from you!
SOURCE Canna Business Services
Canna Business Services Reveals 3 Major Pitfalls In The Cannabis Industry
About Cannin: Your Cannabis Stocks Resource
78% of Cannin’s fundamentals prove true within 30 days or less on 100+ recommendations over the past 2 years.
Cannin is your #1 trusted resource for cannabis stocks. Our global team of experts evaluates all emerging cannabis stock investing opportunities. We aggregate hundreds of hours of financial research and provide tips on the best cannabis stocks for 2021.
Use Cannin as your resource for:
Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. Is it too late to invest in marijuana stocks? No! This is the perfect time to invest.
Are you looking to buy stock in hemp companies or marijuana companies for 2021? Interested in new penny hemp stock companies? Looking for the best Canadian cannabis stocks to invest in? Looking to leverage the power of algorithmic stock trading to beat the cannabis market? We can help.
Are you interested in cannabis stocks like Curaleaf, Trulieve, Aurora Cannabis, Charlotte’s Web, Canopy Growth, or Hemp Inc.?
Predict price movements of cannabis stocks several hours in advance with our proprietary algorithmic stock trading software.
- +30% Gains in 2020
- +49.8% Gains in 2019
- Backtested since 2012
We’re so confident you’ll love our algotrading cannabis stock signals, we’re willing to give you a one-month risk-free trial to see it for yourself.
Profit from the best cannabis stocks – we’ll show you how at cannin.com.
