Business Consulting Services
MOST will help you navigate the cannabis business successfully, ensuring long-term, sustained growth for your company.
Cannabis Industry Consultants
Both new and established cannabis companies look to MOST consulting for help in finding their way through this challenging new industry. To this end, there are several reasons why cannabis consulting companies like MOST are of such value in the space.
It is shocking to think that just five short years ago, the United States did not have a legal adult-use cannabis marketplace. Fast forward to 2020, and recreational cannabis has become a massive industry in Colorado, California, Oregon, Washington, Illinois, Michigan, and more. In like fashion, we have seen conservative states like Oklahoma and North Dakota welcome medical marijuana.
For new cannabis entrepreneurs, this rapid-growth and constant change make the industry very difficult to understand. Moreover, because a good deal of our knowledge on cannabis comes from the black-market, the legal industry has struggled to function profitably in the real business world. Yet, there is a good deal of industry experts on-hand eager to help your cannabis business rise to the top.
MOST Business Consulting Services will help you understand the ever-expanding and ever-changing cannabis landscape. Our offerings are designed to help alleviate many of the pain-points that come with launching, maintaining, as well as growing a cannabis business.
Solutions for Cannabis Companies
As the cannabis industry grows increasingly competitive, businesses continue to put more emphasis on operational efficiencies. As such, the most successful cannabis companies in the industry today track operational return on investment (ROI) down to the penny.
With volatility and unpredictability in wholesale pricing, the most surefire way to ensure profits for your business is by limiting your expenditures. MOST consulting has helped a number of cannabis businesses with operational process improvement that leads directly to increased profitability. Our team members are well-versed at utilizing verifiable business data to cut costs while developing targeted growth plans.
The operations consulting team at MOST has worked with large multi-state operators, as well as small startup businesses. Our inhouse experts will work to keep you in the black while also ensuring that your investors remain happy.
Due to the fact that cannabis is a semi-legal and heavily-regulated industry, businesses must deal with a number of compliance-related issues regarding transportation. Moreover, as each state has unique regulations on both licensing and employment, it can be quite difficult to discern how you can legally travel with cannabis products.
The process of learning and implementing compliance standards for cannabis transport can be a daunting task. To illustrate, the state of Colorado MED (Marijuana Enforcement Division) has multiple avenues you could take to legally transport cannabis. These include a MED badge system for all plant-touching business employees, as well as Marijuana Transporter License for those actually transporting products. Yet, these regulations differ greatly from those in California - where there is no employee badge system or background screening.
As leaders in our field, MOST consulting can guide you through the cannabis transportation regulations in your specific market. Not only will we uncover the legal complexities of the transportation niche, but will also help you develop compliant transportation procedures for your business.
The cannabis business license application process can be time-consuming as well as expensive. Importantly, new companies can sometimes spend tens of thousands of dollars on applications without even being guaranteed a license.
When the state of Ohio first approved its medical marijuana platform, the license application process was extremely competitive for hopeful new entrepreneurs. For example, when their initial round of licensing ended in late 2018, Ohio had only issued 26 cultivation licenses out of 185 applicants. This is important because, before they even had their MMJ program operational, Ohio had made $2.352 million from application fees. Unfortunately, for those 159 applicants in Ohio who didn’t receive a license, fees upwards of $20,000 per business were lost.
MOST works with a team of legal experts who are well-versed in the cannabis space. Similarly, we have a team of accomplished technical writers on our staff who pay careful attention to the fine details of the application process. By studying the given market and working diligently to satisfy application requirements, MOST helps you stand out from competitors, submit a cohesive application, and successfully launch your state-licensed cannabis venture.
Not only is the process of writing a business plan time consuming, but the execution of a faulty plan can also mean financial ruin for entrepreneurs. Add to this fact that cannabis business operations vary greatly in different markets - and the sheer complexity of writing a business plan for this new industry becomes apparent.
A well-written cannabis business plan should encapsulate your company’s vision for success as well as account for the many challenges you will face during startup and beyond. To this end, the best cannabis business plans touch on the critical elements of funding, ownership, licensing, compliance, budgeting, staffing, operations, sales, marketing, and growth. Yet, these vital pieces of your company’s success will take on different shapes depending on your business model as well as your chosen market.
MOST consulting has the industry experience and practical foresight required to write top-level cannabis business plans. Our business plan offerings range from simple templates to full-service writing packages. Even more, our team of experts can help you implement your cannabis business plan when the time finally comes.
Perhaps no industry has benefited as much from professional consulting services as that of the cannabis business. With this notion in mind, a talented cannabis consultant can save you both time and money as you work towards establishing a successful business.
Each market niche in the cannabis space presents unique challenges to business owners. These challenges arise from highly-diverse fields within the cannabis business. To this end, small business owners simply cannot master every facet of their operations - especially with skill-sets required that can be as diverse as horticulture and sales. That being said, instead of spending hundreds of hours attempting to learn a new trade in the cannabis space, it’s advisable to outsource expert help for certain tasks.
The team at MOST is here to help you work through any facet of your cannabis business that you find particularly challenging. As such, we provide a breadth of general consulting offerings to help lighten your load and ease your mind.