FAQs

Frequently Asked Questions about the industry

Desiring to learn more about the Medical Marijuana business? This place is specifically for that. Here we will answer basic questions about the business, legislation, grow process, and more. Don’t see the information you are seeking? Feel free to contact us, fill out the short form and we will get back to you with the answer. If you wish to speak with us… You may call us Toll-Free @ 1-877-457-5244.

Have Your Own Questions? Ask The Advisors

Q:

I was concerned about how much money I need to have in order to start a medical marijuana business?

A:

When we were waiting for Florida to Pass Amendment 2… We thought all it would take was $100,000 and we could get started. We were sadly mistaken. Today the conditions are much more different than they were a few years ago. Today, we estimate that you would need at least $2 Million. Why so much? Many states are adopting similar regulatory structures. Just to get licensed, you may need to pay the following fees:

  • State application fee
  • State licensing fee
  • Local application fee
  • Local licensing fee
  • Bond money(in Connecticut, they are proposing a $2 Million bond!)

The licensing process is a very lengthy and detailed component of developing your company. You basically have to create your entire business on paper before you can submit your license. This process can take months.

If you are thorough, prepared and lucky enough to be selected as a licensee, then you have to have enough capital to build out your business. This critical step ensures you are first to market – ahead of your competition. During this time, you have to be able to fund:

  • The build-out of your facilities
  • Proper zoning and building permits
  • Staffing
  • Equipment purchases
  • Acquisition of products/plants
  • Community outreach, and more

Lastly, you get to the point where you are about to open your doors for business. In this process, you need to make sure you have enough funding for:

  • Payroll
  • Running your facilities
  • On-going legal expertise
  • On-going patient outreach/communications
  • National, state and local involvement/advocacy

You can read more about each state’s requirements in our Services section.