Starting a Cannabis Business in Virginia
Up and down the Eastern Seaboard, states are legalizing cannabis where it was previously only available for medical use or wasn’t legal at all. Previously, cannabis was outlawed in Virginia, but as of 2021, the Old Dominion state is open for medical marijuana business. If you’re thinking about opening a cannabis business in Virginia, you might be searching how to open a dispensary, a cannabis farm or even a processing facility. While the state continues to iron out the wrinkles of its legislation, starting a Virginia cannabis business is a real possibility for many in the state.
Determine Your Market
With a brand new medical cannabis industry in the state, there are so many opportunities for business owners to choose the business that most closely aligns with their goals. Whether you want to open a B2B cultivation facility or a small town shop to cater to all the locals, there’s something for everyone in the Virginia cannabis industry. But, remember that your market will have an impact on how starting your Virginia cannabis business looks. Learning how to open a dispensary in Virginia will look completely different from setting up a farm for growing cannabis in the state.
Once you’ve determined your market, you’ll then be able to take the next steps toward owning your VA cannabusiness. Whether you’re a farmer who knows all the best strains or you’re an entrepreneur who can help people find the perfect cannabis solutions for their needs, you’ll be able to take advantage of the brand-new industry in the state!
Scout the Perfect Location
It’s all about location! The location you choose can have a huge impact on your ability to be successful. If you’re shooting for a cute uptown boutique dispensary, your location will look much different from a corporate-style store that caters to those who mean serious business when it comes to their weed. It’s a good idea to start looking for locations early. Even if you know they won’t be available by the time you’re finally able to get your business off the ground, having an idea of what they’re going to look like can have an impact on the way that you’re able to plan (and how successful you’ll be when it comes to actually starting your dispensary).
Additionally, you’ll want to check local code to make sure that you can have your cannabis business. Virginia’s cannabis laws have zoning requirements that mean you’ll have to be extra vigilant when you’re scouting for the perfect property.
Learn the Licensing Process
Across the United States, there’s no prescription of cannabis application laws that apply to every state. While Virginia may have modeled some of their laws after other states, the application process is going to look much different from any other state. Even from county to county in Virginia, you’re going to have to pay close attention to the zoning laws and requirements for your application. Applying for a dispensary license in Blacksburg could come with different sets of rules and challenges than applying for one in Fairfax. Pay close attention to not only the state laws but also the local ones!
Start Gathering Your Documentation
From the moment you think about starting a cannabis business in Virginia, you should start gathering the documentation required for the application process. This includes things like a business plan and even a proposed location for your business. If you know this information upfront, it will make it easier for you to start your business. It’s crucial to keep your information organized and also have it in one location that is easy to access throughout the process.
Get the Support You Need
Networking is a huge part of the cannabis industry. With the right network, you can do everything from finding potential new clients to getting support from others in the industry. Networking opportunities are essential. Start networking with other businesses in the area you plan to open your dispensary as well as those who are also going into the business. You’ll be grateful to have that cannabis farmer’s business card when the time comes to start curating the products you plan on carrying!
Learning how to start a cannabis business in Virginia is simple when you know the right steps. As you learn more about how to open a dispensary in Virginia, make sure you take the time to make plenty of contacts who can help you along the way. The best way thing you can do when starting a Virginia cannabis business is to attend an industry-focused event. Be sure to check out Lucky Leaf Expo in Richmond on November 11th and 12th, 2022!
