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business

September 06 2018

How to Calculate Your Initial Cannabis Startup Costs

Getting started in California's legal cannabis market can take a minimum initial investment of $500,000. 

  • Operating costs, licensing fees, equipment and cannabis inputs are all expensive components of establishing a cannabis business. 
  • It can take upwards of $500,000 to start a cannabis...
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Filed Under: Business

September 05 2018

What to Look for in a Cannabis Accounting Firm

A cannabis accounting firm can save you from fines, penalties, and make sure your business is set up to grow sustainably. 

  • Hiring a non-cannabis specific accounting firm can lead to accidental errors or oversights that may cause big problems in the future. 
  • Look for a firm that has a...
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Filed Under: Business

August 03 2018

How to Manage Irregular Overhead Expenses

Variable expenses are highly irregular in the cannabis market – here's how to keep track of them so your business doesn't go under. 

  • Set aside $200,000 in case of emergencies. 
  • Make sure your business is 75% ready to open before you even apply for a local license.
  • Keep meticulous records...
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Filed Under: Business

July 19 2018

5 Questions to Ask When Hiring a Cannabis Employee

Spend time carefully vetting each new employee to reduce employee turnover costs and minimize your risk of fraud. 

  • Put your network to work to help you find someone who comes highly recommended and has a good reputation. 
  • Make sure you're registered as a business entity – you will need to...
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Filed Under: Business

May 16 2018

3 First Steps to Starting a California Cannabis Business

If you're new to California's cannabis industry, start here to with these key ingredients you need to get off the ground. 

  • You must find properly zoned real estate to even have your cannabis business application considered. 
  • Not every city allows for every type of cannabis business: see...
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Filed Under: Business

May 09 2018

How to Find Real Estate for Your Cannabis Business

Competition for cannabis real estate is steep – follow these steps to get a jump on finding a location for your dispensary. 

  • Budget at least six to eight months of full-time searching to locate your property.
  • A city's first reading of proposed zoning ordinances should spark your property...
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Filed Under: Business

February 05 2018

How To Find an Investor for Your Cannabis Business

There are lots of investors looking to get a piece of California's cannabis market – here's how to find one. 

  • Before you pitch, decide if you're asking for a loan or selling ownership stakes. 
  • There are also crowdfunding sites built specifically for cannabis businesses you could try. 
  • ...
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Filed Under: Business

December 04 2017

5 Tax Questions to Ask When Structuring Your Cannabis Business

Nonprofit, C-Corp, LLC: what business structure offers the best tax benefits for new cannabis companies?

  • A multi-entity structure limits your liability and can protect your interest – but also create a logistical nightmare.
  • C-Corp is one of the most popular options, but beware the double...
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Filed Under: Taxes, Business