Top 5 Tips on Opening a Cannabis Business in New Jersey – New Jersey patients have overcome limited resources and political adversity in their quest to get the medical marijuana they need. Here’s how you as an entrepreneur can learn how to start your own medical marijuana dispensary in New Jersey.
Here are some helpful documents for the application process
- 2019 RFA Application Checklist
- Applicant Affidavit Waiver Release
- Permit Application 1 – DMM-01A
- Personal History Disclosure – DMM-02
1. Know Your Geography
New Jersey first legalized medical cannabis in 2010. At that time, the state set up a process for approving two vertically-integrated businesses in each of three main geographic areas: North, Central and South Jersey. The plan is to approve two new businesses per region. Know where you lie.
2. Show Your Work
The bulk of the cannabis business license application centers around a weighted scoring system, featuring different sections built around the details of different parts of the business. Those parts include operational plans, procedures, security, etc. Be as detailed and as clear as you can when filling out the application.
Be prepared to show your work on how you plan to do all of it. Remember, generalized statements won’t work here. Draw on experience in the industry. Partner with an established national brand. Show the state how your company is poised to meet the needs of the New Jersey medical cannabis patient base.
3. Identify Your Base
The first part of the application will pertain to showing control of property or real estate and approval from the municipality. These don’t come quickly. New Jersey wants to make sure that there is adequate supply of products for patients. Note: you should secure property control and municipal approval very early on to avoid delays.
4. Don’t Wait
You can’t fill out an application in a day or two. It takes time. It could take weeks to get one done sufficiently. The cannabis industry is a highly competitive field. If you wish to enter it, you must surround yourself with the experience and expertise that will position you for success in this unique marketplace.
So, don’t wait: put your team in place now!
5. Focus on the Task at Hand
Politics can get in the way of your task, and can be very distracting. Getting caught up in what other people or other states are doing is also distracting. Focus on what YOU have to do. To get ahead and be prepared for starting a marijuana business in NJ, you should be educating yourself, reading through the regulations, and putting together a business plan.
Contact Buyweed-NJ
Buyweed-NJ can help guide businesses in what they need to do to stay on top of things. Want to know more? Contact us today.