“A lot of people are buying marijuana,” Adams says. “There’s no doubt about that.” But does that mean the would-be marijuana seller has a built-in clientele? Not necessarily. “It’s going to be quite competitive,” she warns. “There are conglomerates who have already joined. There’s some big money involved. And I think you’re going to see a lot of it move more in that direction.”
The course promises to be a rigorous survey of the landscape of marijuana production and sale, educating prospective growers in everything from irrigation to marketing.
Then there are “environmental monitoring and sanitation issues” unique to the growing of weed. “I think the main challenge,” Adams concludes, “is that marijuana is an agricultural or horticultural crop but it’s being regulated from a pharmaceutical perspective. One of the major challenges is joining the agricultural and pharmaceutical ways of doing things.”
3. Build a client base – and keep them
The shady-looking fellow on the corner will tell you that you hardly need a college diploma to sell weed for a living. But Kwantlen’s new 14-week online course will sculpt aspiring dealers into professionals in a robust – and newly legal – field.
Preparing for such eventualities is a key part of any business plan. “If you were going to grow any crop, you would sit down and make your production plan. You would look at how much money you would spend on different input, and also look at how your production and labour are going to work within regulations.” Of particular importance is the MMPR – the Marijuana for Medical Purposes Regulations, which govern the production of pot for legal use and sale in Canada.
1. Don’t rely on past experience
She continues: “A lot of people have been growing for 20 years. That’s great. Chances are they are very knowledgeable about growing the plant. But when it comes to regulations, financials and everything to do with exchange, they have no idea how that part works.”
The solution? “We need to focus on consumer satisfaction. How do you get your messaging out to your patients? How do you retain them, make them happy, answer their questions? How do you get their loyalty?” Answering those questions, Adams says, is “how you’re going to stay in business in the end”.
The policies and procedures related to Public Act 21-1, An Act Concerning Responsible And Equitable Regulation Of Adult-Use Cannabis, are effective October 16, 2021 and are available at eRegulations.ct.gov.
Possession of 1.5 oz of cannabis is now legal. Retail sales will likely not be available until at least the end of 2022. Those who wish to grow cannabis at home may not at this time. Medical marijuana patients will be able to grow up to 3 mature and 3 immature plants at home starting October 1, 2021, with a cap of 12 total plants per household. All adults will be able to grow under the same rules starting July 1, 2023.
For those considering starting a business, the Department of Consumer Protection will release applications within a few months, pending further directives from the Social Equity Council. Please be aware that there are also very specific advertising guidelines for businesses who intent to participate in the retail sale of cannabis.
Please read the articles below for more details, and check back regularly for updates.