Alaska Is Gearing Up For Marijuana Business

For the great people of Alaska, the culture of growing marijuana has been long ingrained in them. They used to plant marijuana for their home use. This came to be nearly forty years ago when the Alaska Supreme Court ruled that any adult had the right to posses, cultivate, and use marijuana in small quantities for personal use. Now, Alaska is gearing up for marijuana business applications because of the recent changes to the marijuana laws in Alaska.

Alaska Is Gearing Up For Marijuana Business

Although, the state has struggled in the past to have laws that will please the supporters of cannabis and stay within the laws that were on the books. Now, the fact that Alaska regulators are taking applications from individuals to secure a marijuana business license is one amazing story that people will live to tell.

That means that marijuana will be like any other business, and it will have to be taxed. The board that has been tasked with the mandate of regulating producers, wholesalers, processors, and retailers similar to that of the alcohol beverage control board.

So, if you are looking to start a marijuana business then you must consider the following. You will need a marijuana cultivation facility, product manufacturing facility, and a testing facility. These will allow them to monitor the quantity and quality of the marijuana that you are producing. These are the main things that the board will be looking at before you can be granted a license.

If you have not begun the process, you will have to prepare all of these facilities to start you own company that produces marijuana. You will have to prepare a pre-legalized business plan that will outline the costs and production processes needed to conduct your business.

The Business Plan

You also need to have financial projections and the market demand for pot. This is required so they will know that you are actually suitable for the business. The location in the state is also very vital. This is due to the restrictions and zoning that has existed for many years.

After you have a clear goal and plan on the location, and financial projections, you will then need to finalize your business plan for approval by the board. This will take the board up to 90 days to approve your business proposal. The review period that the board has stipulated is to ensure that your business meets all of the state’s requirements.

They will be treating it just like any other business. It will have to meet certain standards for your business to be operational. The timeline will also help the board to check any criminal record of the applicant that is seeking to conduct the business.

Many prospective business owners are going to have to understand the legal guidelines set forth by the state of Alaska if they want to conduct a marijuana business. People are going to have to be educated on marijuana to get a picture of what the state intends to do.

Conclusion

Finally, as Alaska is gearing up for marijuana business applications, it may initially be challenging to get investors on board. However, they will eventual come once they get the whole idea and understand what they stand to gain. It is a promising business that could prove to be lucrative. However, just like any other business it will have many challenges and legal hurdles along the way. However, you can be sure it will thrive given time. It will also require great skills in marketing since this industry will prove to be filled with a lot of competition.

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Rick

About the Author

Rick

I’m a pretty chill dude who likes to smoke God’s gift from time to time. I like to write about different topics about marijuana to educate, entertain, and inform others who also like to light up and blow some smoke. Enjoy...