Once you have selected the Cannabis License along with a business plan, the next critical issue is selection of the physical site. If you are purchasing a property or leasing one there are several critical factors into consideration. For example, if you are assessing the viability of a site for a cultivation business then you will need to investigate power and water requirements available at the proposed site. If these are insufficient you will need to consider the cost of increasing the water and power capacity.
Again, understanding which particular license you intend applying for, and armed with a business plan describing power and water requirements will help in finding and selecting the correct physical site.
Local Government Consent
In addition, the other critical selection factor is local government consent, and other factors such as zoning, restrictive city bylaws, proximity to schools, and residential properties.
If you intend to file an extraction license in an industrial complex, then you will need to consider any restrictive strata by laws. If you are purchasing or leasing a building or land we recommend that you include a term and condition in the legal documentation that a consent or a ruling in writing is obtained from the local government that the cannabis activities described in the license can be conducted on the fixed property. We have solid experience in this field and can assist you in this process if required.
If you intend leasing the property then you will require the consent from the landlord to conduct the various cannabis activities you intend for your business.
To accurately assess the probability of success for your new business and the selection of the Cannabis license or license combination, a business plan with forward looking financials is critical for a successful start for your Cannabis business.