As the cannabis industry continues to grow, more and more persons are looking to start their own operations. So, if you’re interested in creating new growing operations, you’ll need to come up with a suitable business plan. Read on as we dive into the important information that you need to know about starting your operations.
When it comes to structuring your business plan, you’ll need to take into consideration the following:
- Traceability and security
- Training and compliance
- Effective removal of waste
- Transportation, packaging, and processing
- Proper grow facilities
When you invest in the growing operations of the cannabis industry, there’s a chance that things will be easier for you. Within Washington State, facilities should be properly enclosed by walls that are at least 8 feet in height. In the case of Colorado, your operations should be enclosed and secured by relatively high fences as well.
However, in areas such as the Pacific Northwest, climates are perfect for these operations. If you’re planning to grow cannabis in an indoor setting, you’ll need to secure enough cash to take your operations further. You’ll need to control the humidity, pests, light, and the overall environment since an energy-efficient setting is just right for cannabis operations.
So, if you’re planning to dive deep into the industry, you’ll need to invest in a proper growing facility. Additionally, you’ll also need to work out your ventilation plans for your crops since these plants flourish on excessive amounts of light. Due to this, you’ll also need to find the best way possible to deal with the cost of electricity and irrigation systems.
To meet the demands of a startup, you’ll need to invest wisely. As such the following are some great alternatives to ensure that your operations are successful:
- Solar energy
- Use recycled water or collect rainwater
- Energy efficient greenhouses for mass production
When it comes to dealing with the compliance and security aspect, the industry is expected to grow to $35 billion this year due to recreational purposes. Hence, producers need to deal with the restrictions of such a successful business that runs with cash only. Within Washington and Colorado alone, growth is expected to exceed 300%.
Facilities are required to have proper identification systems, non-authorized personnel should display an identification badge, alarms should cover all entry points and surveillance should be placed where those entering and leaving are within view. Additionally, producers are required to attain various licenses that are needed for sales.
As we conclude, we have just looked at some of the most important information that you’ll need to consider when planning your operations. Remember, you’ll need to think about your facility options, a reliable seed supplier, electrical solutions, watering solutions, marketing, and licenses before you can be in full operation. The cannabis industry is among the most profitable around the globe and continues to grow rapidly.