I'm evaluating a business op around medical marijuana, and don't know the process from prescription to purchase. Thanks in advance for your help!
In addition to kurtster's comments, I would recommend that you go slow and carefully examine and think through the business plan.
1. The activity/industry is not fully legal in the USA and as kurtster mentioned faces financial obstacles. It is important to be not too far ahead of change.
2. This is a popular life-style industry so expect excess entry and tight margins, even negative margins.
3. My non-expert opinion? The long-run demand will likely grow and be sustainable. Medical MJ has many advantages for pain management and sleep disorders compared to contemporary alternatives. Moreover, I fully expect edibles to be used as a relatively safe substitute for alcohol.
Look MJ is a dangerous drug. Coffee has all kinds of negative impacts for those who care to look. That said, the epidemiology of alcohol was bad to begin with and just keeps getting worse and worse as the decades roll by. (Damn scientists!)
I foresee a big demand by functioning alcoholics for looking to edibles as a way to reduce alcohol consumption.
4. In the meantime, there are many, many voters in the USA who see tobacco and alcohol as familiar, family-friendly drugs and view cannabis with the same horror reserved for other far more dangerous narcotics. President Biden seems like a nice guy but he does not seem inclined to rock the boat hard.
Interesting. Let me think some more. You would have to develop an integrated inventory control system / sales system - POS for openers. You have two kinds of systems to think about. One passed by voter initiative and as here in Ohio, created by legislation. Controls would seem to be different based on how the systems were created. Accounting mandates might be different due to how the systems were constructed and why. More thoughts to come.
The perspective I'm taking on the business is one of helping the states manage the reporting. I'm not looking to compete in the "biz"...I have a solution to help those involved improve their reporting....primarily around sales tax.
I'm attempting to understand where medical and recreational intersect. I have a sales tax-focused company that is looking to help states, as well as retailers. It feels like there is a lot of paper, and we think we can reduce that.
Thanks again for the feedback.
Interesting. Let me think some more. You would have to develop an integrated inventory control system / sales system - POS for openers. You have two kinds of systems to think about. One passed by voter initiative and as here in Ohio, created by legislation. Controls would seem to be different based on how the systems were created. Accounting mandates might be different due to how the systems were constructed and why. More thoughts to come.
First off, realize that this is an all cash business. Everywhere. There are problems with banking. Keeping the cash safe. Paying for things. I know that you know how to deal with it, but you first have to ask yourself is it worth it ? And regardless of what the state laws says, it is still federally illegal. Anyone who has a MM card cannot buy a gun. It will prevent that person from passing a background check, solely for having the card. If your name is on some corporate document you may be adding some governmental hassles to your life that you may not have anticipated. Way back when Ohio got MM, I called my state board and asked how it would affect my license. Not a problem since the legislature created the law and the board is also subject to the legislature. Get caught without having a license, then it sucks to be me.
I'll offer up more on Ohio shortly, but I put this much up for openers. And in NJ, you need to find out what if any, provisions there are for MM expanding to Rec M. Once it becomes recreational, medical no longer matters as much.
Thanks for the details.
The perspective I'm taking on the business is one of helping the states manage the reporting. I'm not looking to compete in the "biz"...I have a solution to help those involved improve their reporting....primarily around sales tax.
I'm attempting to understand where medical and recreational intersect. I have a sales tax-focused company that is looking to help states, as well as retailers. It feels like there is a lot of paper, and we think we can reduce that.
In addition to kurtster's comments, I would recommend that you go slow and carefully examine and think through the business plan.
1. The activity/industry is not fully legal in the USA and as kurtster mentioned faces financial obstacles. It is important to be not too far ahead of change.
2. This is a popular life-style industry so expect excess entry and tight margins, even negative margins.
3. My non-expert opinion? The long-run demand will likely grow and be sustainable. Medical MJ has many advantages for pain management and sleep disorders compared to contemporary alternatives. Moreover, I fully expect edibles to be used as a relatively safe substitute for alcohol.
Look MJ is a dangerous drug. Coffee has all kinds of negative impacts for those who care to look. That said, the epidemiology of alcohol was bad to begin with and just keeps worse and worse as the decades roll by. (Damn scientists!)
I foresee a big demand by functioning alcoholics for edibles as a way to reduce alcohol consumption.
4. In the meantime, there are many, many voters in the USA who see tobacco and alcohol as familiar, family-friendly drugs and view cannabis with the same horror reserved for other far more dangerous narcotics. President Biden seems like a nice guy but he does not seem inclined to rock the boat hard.
I'm evaluating a business op around medical marijuana, and don't know the process from prescription to purchase. Thanks in advance for your help!
In addition to kurtster's comments, I would recommend that you go slow and carefully examine and think through the business plan.
1. The activity/industry is not fully legal in the USA and as kurtster mentioned faces financial obstacles. It is important to be not too far ahead of change.
2. This is a popular life-style industry so expect excess entry and tight margins, even negative margins.
3. My non-expert opinion? The long-run demand will likely grow and be sustainable. Medical MJ has many advantages for pain management and sleep disorders compared to contemporary alternatives. Moreover, I fully expect edibles to be used as a relatively safe substitute for alcohol.
Look MJ is a dangerous drug. Coffee has all kinds of negative impacts for those who care to look. That said, the epidemiology of alcohol was bad to begin with and just keeps getting worse and worse as the decades roll by. (Damn scientists!)
I foresee a big demand by functioning alcoholics for looking to edibles as a way to reduce alcohol consumption.
4. In the meantime, there are many, many voters in the USA who see tobacco and alcohol as familiar, family-friendly drugs and view cannabis with the same horror reserved for other far more dangerous narcotics. President Biden seems like a nice guy but he does not seem inclined to rock the boat hard.
I would appreciate any insight folks can give regarding the Medical process in your state (US only). I'm looking to understand...
Does your state have separate shops for Medical vs. recreational marijuana...or you can do both at the same place?
Are there limits to quantity?
Do you have to carry a prescription with you?
How much did you have to pay for a card?
Does the card have any information beyond name/address/picture?
How long is the card good for?
Anything else you'd like to share about the process...
I'm evaluating a business op around medical marijuana, and don't know the process from prescription to purchase. Thanks in advance for your help!
First off, realize that this is an all cash business. Everywhere. There are problems with banking. Keeping the cash safe. Paying for things. I know that you know how to deal with it, but you first have to ask yourself is it worth it ? And regardless of what the state laws says, it is still federally illegal. Anyone who has a MM card cannot buy a gun. It will prevent that person from passing a background check, solely for having the card. If your name is on some corporate document you may be adding some governmental hassles to your life that you may not have anticipated. Way back when Ohio got MM, I called my state board and asked how it would affect my license. Not a problem since the legislature created the law and the board is also subject to the legislature. Get caught without having a license, then it sucks to be me.
I'll offer up more on Ohio shortly, but I put this much up for openers. And in NJ, you need to find out what if any, provisions there are for MM expanding to Rec M. Once it becomes recreational, medical no longer matters as much.
I'm considering ditching the pharmaceutical anti-depressants in favor of medical marijuana. Also going to look into MM salves for the arthritis in my knee.
Got my card no problem (thank you MAINE for making it legal and easy!)
Just started looking into it and overwhelmed by all the minute details of EVERY aspect: tinctures, oils, concentrates, isolates, topicals, THC/CBD, RSO/MCT, extraction techniques, strains, delivery devices, head high/body high, dispensaries/caregivers... HOLY HELL!
I'm sure more than a few of you have some personal experiences and general or detailed knowledge to share, online resources: so please do it here!!! Any and all info and advice is welcome. Thanks!
Great idea. I've been very interested in MM for obvious reasons and a safe little repository of info would be great to have. I know all I need to know about RM after 50 plus years of enjoyment, but I have many holes in my working knowledge of MM. MM is still at least a year away here in Ohio and with the way the law is written, I will opt out even though qualifying would be zero problem. The main reason is that you become registered in the same multi state data base that tracks opioid users in pain management programs. That ain't happening, ever.
I'm considering ditching the pharmaceutical anti-depressants in favor of medical marijuana. Also going to look into MM salves for the arthritis in my knee.
Got my card no problem (thank you MAINE for making it legal and easy!)
Just started looking into it and overwhelmed by all the minute details of EVERY aspect: tinctures, oils, concentrates, isolates, topicals, THC/CBD, RSO/MCT, extraction techniques, strains, delivery devices, head high/body high, dispensaries/caregivers... HOLY HELL!
I'm sure more than a few of you have some personal experiences and general or detailed knowledge to share, online resources: so please do it here!!! Any and all info and advice is welcome. Thanks!
