Are you interested in the commercial growing of Marijuana, but you are not sure where to start? There is a high demand for medical marijuana, and therefore, it can be a profitable venture if done the right way. You only need to know the consumer trends, and latest regulatory developments since such knowledge give you an upper hand in the competition. Here is the list of our top secrets about the commercial growing of Marijuana that you must know. Please continue reading to learn more.
Like in any other industry, you need to know about the trends of the marijuana industry if you want to be a successful large-scale marijuana farmer. Don’t assume that you already know because what you might have known before might have been overtaken by time. As in other industries, trends keep changing, meaning that today’s relevant information might not be relevant tomorrow. Thus, update yourself with current news and trends touching on Marijuana before joining this industry.
It is not different from other ventures, and you need a good business plan to succeed in this industry. Your business should address factors such as financing, waste removal, security, among other parameters that must be taken into account in the growth of Marijuana. However, you can start with a general plan before advancing it to a more detailed business plan.
You will realize that commercial growing of marijuana is very expensive. It involves various costs such as annual licensing costs, permits application costs, employees’ salaries, among many other operation costs. If you do everything properly, you will realize that you will use millions of dollars. Very few people can finance such expensive projects on their own. If you are interested and you do not have enough capital to kickstart, you can get cannabis funding from venture capitalists, private lenders, angel investors, among others.
This is the next step after getting an investor to finance your project. I believe that by now, you already have your business plan. Well, take your business plan alongside your permit application to your state regulatory agency for permit approval. Never attempt growing Marijuana without a permit as it is illegal. Most licensing structures are based on merit scoring, and therefore a business plan is required. Make sure that your business plan is more detailed as you want to outstand your other competitors.
The cannabis growing center that you can choose depends on your state and local regulations. In most cases, cannabis growing is done in remote areas in both indoor and outdoor environments. If you want to grow tall cannabis, you can choose outdoors growing. However, you must check whether your climate and state regulation allows Marijuana to grow out. Most regulations require you to grow cannabis in regulated, secured, and closed structures. This is known as indoor growing. While it is expensive to invest in indoor facilities such as warehouses, you have no option if it is your local government’s requirement.
You can grow cannabis either from seeds or from crones. Whatever the method you decide to use, ensure that the seeds or the clones used are of high quality. If you decide to use seeds, you will get better control, but they will take a longer time to grow than clones. However, both give good yields depending on how you manage your cultivation.
These are some of the things you need to know about the commercial growth of marijuana. Follow them keenly, and you will be successful in this green industry.