Since the legalization of medical cannabis, a number of business opportunities have been created for people who want to start a legal cannabis business. There is a lot of interest among companies and entrepreneurs to get their businesses started, but the fact is that the number of cannabis business permits that will be issued is limited. The actual number of permits that will be issued varies from state to state and this is the reason it is important to keep up to date with the rules and regulations in your respective state.
The costs associated with obtaining cannabis business permits also differ. Application fee can range between $10,000 and $30,000 and the licensing procedure can cost anywhere between $60,000 and $100,000. A number of factors are taken into consideration before determining how much an applicant is required to pay. In addition to the application and licensing fees, there is also indemnity fee that must be paid. The amount is usually around $25,000. A person who is successful in meeting all the legal and financial requirements and starting a cannabis business must also give about 6% of the company’s gross revenue to the city. For most states, a series are bills are yet to be considered and passed. Parameters will only be set after some decision has been reached based on the proposed bills.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.