Frequently Asked Questions about Cannabis Marketing
What is a cannabis business consultant?
As a collective of marijuana marketing and industry experts, our team is here to help navigate the waters as you establish, build, and grow your cannabis business. Whether you are looking to start your business or grow your current operation, we are here to ‘light’ the way for your marijuana business.
What is the difference between medical marijuana and recreational marijuana?
Medical marijuana is used to treat various chronic medical conditions approved by the state you reside in. Recreational marijuana can be purchased and consumed by citizens over 21. Regulations for medical and recreational possession and purchases vary from state to state.
Where can I start a legal cannabis business?
29 states and the District of Columbia have either legalized medical marijuana or both medicinal and recreational marijuana. Considering starting your own marijuana business? The great news is that you can start one in any of the following states: Alaska, Arizona, California, Colorado, Connecticut, DC (District of Columbia), Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, Washington.
How much money does it cost to start a cannabis business?
State-by-state costs for opening your cannabis company can vary from $10,000 to more than $250,000 for application and license fees alone. Depending on the state, you may also be restricted to holding certain kinds of licenses at a time.
Due to variances in regulation across states with legal cannabis, the initial investment of a starting a business in the marijuana industry not only depends on the state you live in but the kind of business you want to start.
How long does it take to start a cannabis business?
The time required to open your cannabis business also depends on the type and location of your business. Contact us for a free consultation to learn more about your specific ideas, your growth goals, and how MaJor Group can help you achieve them.
How can I help my established marijuana business break into a new market in a different state?
Our team of industry experts are leaders in both the cannabis industry and the marketing world. Our partners met during the early stages of Nevada’s medical cannabis marketplace, where they developed insight to the explosive growth experienced by cannabis markets in legal states.
As a business advisory and cannabis marketing collective, MaJor Group can help you implement cutting edge digital marketing strategies while leveraging and maximizing your brand’s existing strengths.
What if I don’t live in Las Vegas? Is it legal for me to conduct business with MaJor Group?
Although the marijuana industry currently exists in a legal gray zone, the cannabis industry in Nevada is no longer under prohibition, which makes the business of marijuana entirely legal in Nevada.
Further, because MaJor Group doesn’t buy, sell, or distribute cannabis products to consumers, we are free to conduct inter-state operations with you or any other cannabis operation. If you live in another state and are interested in seriously growing your cannabusiness, let our team of experts help you to design a game plan today.
What marijuana businesses can I start in Nevada?
As of July 1, Nevada officially kicked off its recreational marijuana program. The regulations of this measure included provisions that allowed for existing marijuana companies to engage in the production, sale, and distribution of medical and recreational marijuana.
Under the new law, only businesses that already have medical marijuana certificates will be allowed to apply for recreational licenses during the first 18 months after the recreational program opened. That means if you’re not currently participating on the medical side of the market, the soonest you can apply for a license is June of 2019.
What can I do while I prepare to open my cannabis business?
Education and advocacy are essential components to any endeavor in the marijuana industry, and our first recommendation to any entrepreneur is to do your research and get involved. Some advocacy groups with great resources on the regulation of marijuana include NORML, the Marijuana Policy Project, and the NCIA.
Other tips to help you establish your cannabis business include:
- Reading through your state’s regulations and figure out what kind of marijuana company you want to start.
- Develop a business plan, especially if you’ll need financing, additional investment, or have multiple business partners, you need a business plan to present to them.
- Talk to a marijuana business consultant with the skills, tools, and network to help you position your company for growth.