Cannabis Business Development
One of our core strengths is providing ongoing logistical support through rigorous research, analytics, and networking. We have worked with clients on business development strategies including brand development and marketing strategies, vertical integration options and processes, corporate strategies, labor and employment compliance, and operations-based contracts.
In most states it is possible to cultivate, transport, manufacture, distribute and sell cannabis under a single entity. However, acquiring multiple cannabis business licenses is a complicated undertaking that should take into account several logistical considerations. Vertical integration projects should consider: (1) whether multiple properties are required to operate; (2) can a premises be partitioned to accommodate multiple licenses; (3) is a prospective location suitable for differing licenses and operations; (4) have you solidified relationships and developed a team to support the added operations; (5) how will an investor evaluate the overall chain of operations as opposed to the valuation of each separate operation. These, as well as corporate structuring considerations, must be addressed prior to expanding your cannabis business. Many companies have failed by trying to take on too much at once, but there are also companies that have been hindered by not expanding their operations when the opportunity presents itself. Green Consulting Partners works with clients to expertly assess expansion options by providing experience-based insight into successful and unsuccessful expansion approaches.
Entity Formation & Management
Bygone are the days of the non-profit cooperative; the corporate structure of an entity has implications on a cannabis business license application, and investors will certainly take a close look at how the company is structured. Deciding to incorporate as a S-Corp, C-Corp, or LLC has tax and ownership implications that affect how a company can raise investment capital and add owners and members to a given entity. It is imperative to stay abreast of filing requirements and to obtain the appropriate tax and sales documentation. Green Consulting Partners assists clients in choosing the appropriate business type and ownership structure and can also assist with converting the corporate structure of an existing entity.
Operators in the industry must develop a strategy to differentiate themselves in an increasingly saturated market. Branding is critical in the cannabis industry in general and can also have a significant impact on licensing applications in competitive jurisdictions. Cannabis companies are finding innovative ways to capture market segments – operators who ignore branding and marketing do so at their own peril. Green Consulting Partners helps clients identify company culture and branding goals, pinpoint niche market segments, and develop a marketing campaign. We work closely with design and media professionals to take an integrated approach to successful brand development.
Operating in the Cannabis industry involves navigating a steady stream of contracts and agreements. Operators must be prepared to deal with employment contracts, vendor agreements, use agreements, operating agreements, stock purchase agreements, lease agreements and multiple other contracts and agreements directly related to cannabis business, as well as ancillary contracts. Each type of contract requires a different set of considerations to ensure proper protection of legal interests. Our legal background and experience with legal compliance gives us the ability to efficiently and accurately advise on contracts and agreements on behalf of our clients; we also work with a network of lawyer referrals for contracts that require context-specific legal specialization.
Growth is never by mere chance; it is the result of forces working together. - James Cash Penney