When it comes to starting a legal marijuana establishment, applicants must be prepared to bear the huge costs associated with starting a business and operating it smoothly. The most expensive type of marijuana business is a cultivation centre. They are extremely costly to start because you have to build a new facility or renovate an existing to meet the requirements of the tasks that will be carried out within the facility. When submitting a recreational marijuana cultivation application, you must make sure that you have a couple million dollars in your possession or bank account.
A recreational marijuana cultivation application will cost a non-refundable fee. The application fee varies from state to state. Involving professionals such as attorneys, engineers, accountants, architects, electrical professionals and others at the time of making an application will also cost you money. Depending on how big your cultivation facility is going to be, the costs for getting started and running the business successfully can cost up to $10 million.
Owning a cultivation facility also means that you will have to go without income for at least 5 or 6 months. You will only be able to start earning money when the plants grow, are harvested and sold to dispensaries.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.