CannaBiz by Neev Tapiero

Author:Neev Tapiero [Neev Tapiero]
Language: eng
Format: epub
Tags: BUSINESS & ECONOMICS / New Business Enterprises, BUSINESS & ECONOMICS / Entrepreneurship
Publisher: Self-Counsel Press
Published: 2018-05-01T04:00:00+00:00

3. Growing and Wholesaling versus Growing and Retailing

Many growers and other interested parties will have a tendency to want to grow as well as retail their product themselves as part of their business plan. There is absolutely nothing wrong with wanting to maximize available business by doing more than one thing, but be aware of the amount of work you would be taking on if you choose to not specialize in one niche, but rather grow and retail your product too.

A closer look at what is required to apply for a Canadian LP license reveals an enormous amount of preparation on QA and record-keeping. The amount of record-keeping for plant production is daunting, and the amount of record-keeping for retailing to customers is equally daunting. Doing both well will require the highly specialized skills of a few well-paid experts in the pharmaceutical and drug manufacturing world. If you are considering this robust full-service approach, I would recommend that you phase in distribution at least 6 to 12 months after you are in operation. If you are serious about providing comprehensive services, you may consider two or three separate LP applications for production, distribution, and analysis.

Your greatest challenge once you receive your LP is to maintain your license. LPs are always one or two inspections or audits away from losing their license to operate.

Recovering from a loss of license will be devastating to your ability to continue business.

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