Challenges and Solutions for choosing a Cannabis Business Plan for the Owner-Operator Program

1. Challenges and Solutons for choosing a Cannabis Business Plan for the Owner-Operator Program Want to cash in on the green rush? Legalizaton of recreatonal and medical cannabis does seem like a green fag to get started with a cannabis business. However, it isn’t that simple as it sounds. The industry is contnuously gaining acceptance in society, yet it contnues to face challenges that impede its growth. Therefore, keeping abreast of the challenges when choosing a Cannabis Business Plan for the owner-operator program is highly important. Challenges & Solutons to Start a Cannabis Business Startng a cannabis business with a winning cannabis business plan gives you an edge. The cannabis business plan for your Owner Operator Program not only focuses on the strength of the cannabis business but also sheds light on its beneft for the society. Although, despite being widely accepted and legalized, cannabis industry is contnuously evolving and thus, poses certain challenges that must be overcome to succeed in the industry. These challenges are – · Cannabis License – The license applicaton for cannabis businesses can be complicated and a burden on the pocket. Therefore, as an entrepreneur, you need to carefully select the niche you want to operate in and accordingly move ahead with the licensing process. · Banking/ Bank Loan – The cannabis industry is growing contnuously every year. In spite of that, banks are stll apprehensive when it comes to cannabis businesses.

2. Keeping this problem in mind, the federal and provincial governments of Canada have BDC, Farm Credit Canada and The Cannabis Commerce Associaton of Canada in place. The aim of these insttutons is to lend a helping hand to new and existng cannabis businesses. · Ever-evolving Cannabis Laws – The laws surrounding the cannabis businesses keep changing and shaping the industry as a whole. The cannabis industry asks for similar GMP & GPP standards as Pharmaceutcal & Healthcare industries do, making it highly regulated. With the existence of business incubators in Canada, aspiring entrepreneurs can make the most of their experience and get mentored through the growth phase. · Locaton – When it comes to cannabis businesses, locaton plays a key role in the success of the business. Be it a retail sales business, producton or cultvaton, support of the society is required to make the business fourish. Thus, it becomes imperatve to thorough study the neighbourhood, and demographics before zeroing in on the right locaton. · Cannabis Marketng – The Cannabis Act prohibits the marketngg endorsement of cannabis, its products or services. These prohibitons are complex. For instance, · Avoid using testmonialsg endorsements for promoton purposes · Using promotons that appeal to young people and evoke positve or negatve emotons are a big O · Communicatons related to distributon and pricing are banned Although, point of sale promoton is allowed. Stll, it is highly recommended consultng a lawyer or professional consultancy frm when making a marketng plan. · Cannabis Business Taxes – The cannabis business taxes in Canada can be very challenging. The federal government of Canada has a special Coordinated Cannabis Taxaton Agreement with all its provinces and territories except for Manitoba. In additon to this, every province has its own special leviesg dutes on cannabis products. This is when a well-writen Cannabis Business Plan comes into the picture.The thoroughly researched business plan takes into account every single detail related to fnance and taxes, making it easier for the entrepreneur to go back and refer to the informaton at every phase of the business. Owner-Operator Program for Cannabis Business For a seasoned businessman or an aspiring entrepreneur, the owner-operator program is the best bet to move to Canada to start a business. An owner-operator program is not a formal program for immigraton. However, it is considered as one of the best optons to get a Work Permit through LMIA (Labour Market Impact Assessment) for your business. Besides this, an owner-operator program is incomplete and non-infuental without a well- writen cannabis business plan. The Cannabis business plan is a blueprint of the business,

3. taking into account all the challenges and ofering solutons for the smooth functoning of the business. Therefore, it is highly recommended backing your Owner Operator Program with a well-crafed cannabis business plan. Get in touch with a professional, think through the challenges, fnd solutons and get ready to turn this green plant into money. Aferall, green is the color of money.