Florida Medical Marijuana Business Consultants in Tampa Bay
With the impending florida medical marijuana, businesses are gearing up to take advantage of a roughly $1.4 billion industry (low estimates place it at $365 million, while high estimates come in at $5.4 billion – either way, there’s a lot of money to be made). Business owners looking to get in on the action and earn their share of this massive value face some significant hurdles, though. While there’s lots of profitability, you have to do things right from the get-go. This is where a Florida medical marijuana business consultant can help Tampa Bay area businesses.
The new law has some confusing language. If you operate a grow house, are you a medical treatment facility? If that’s the case, what separates a grow house from a Tampa Bay dispensary? Where do product manufacturers fit into this puzzle? Are they also medical marijuana treatment centers? Under the new Florida law, yes, they’re all medical treatment centers, but that doesn’t mean they’re all the same.
Different types of treatment centers can specialize in different areas – growing, selling, product manufacturer, etc. A Florida medical marijuana business consultant can help you make sense of these confusing terms and chart a straight course into this profitable realm.
Of course, you also have your standard business formation questions to answer. Do you form an LLC? Should you become a traditional corporation instead? Perhaps a sole proprietorship is the better option. These are tough questions to answer in well-established industries, much less in a new one like medical marijuana. There are pros and cons to each, and elements that can’t be found outside the medical marijuana industry (such as government regulation for marijuana), so working with a Tampa Bay marijuana business consultant is imperative.
Marijuana cultivation is a delicate art, and you’ll need to learn all about it if you’ll be operating a grow house or an all-in-one dispensary. Many Florida marijuana business consultants are offering Tampa Bay area business owners training and education courses on cultivation, growing, strain selection, hydroponics and more. With this training, you’ll be more likely to grow a healthy crop that complies with state regulations on what can and cannot be called “medical” marijuana (crops are subject to quality control).
Business Size and Setup
Once you’ve taken your classes and decided on the type of business that’s right for you, you’ll have other questions to answer. What size should your business be? Do you need employees? If so, how many do you need, and how do you handle payroll and taxes? Again, Florida medical marijuana business consultants can come to the rescue by providing insight, knowledge and guidance. Whether you’re a first time business owner or you’ve operated many successful companies in the past, you’ll find the services of a consultant invaluable.
The Florida medical marijuana industry is gearing up to be massive, and getting in early is vital. You can be successful with the help of the right Tampa, Florida marijuana business consultant. The market for medicinal cannabis in Florida will likely be the second market with only California having a larger market. This means there will be many ways to make a decent earning within the marketplace and starting out properly can be the key to success. The first step to getting started right is to hire the right business consultant for your type of industry.