In this episode of 'Under the Microscope,' host Jenny Germano dives into the complexities of licensing and launching cannabis cultivation facilities in emerging markets. Joined by industry veterans Stuart Ware and Matt Best from Joywave Consulting, share their extensive backgrounds in the cannabis industry and offer an integral approach into common licensing challenges, facility planning, compliance, budgeting, and the latest improvements in cultivation technology. Core topics include the obtaining licenses across different states, effective strategies for planning and designing cultivation facilities, and the critical components of compliance, scalability, and budgeting. The conversation also highlights the significant advancements in cultivation equipment, the importance of a robust market strategy, and the top mistakes new operators often make. This detailed and perceptive episode is jam packed with valuable guidance for anyone looking to enter into the emerging cannabis market.
🌱 Our Guests: www.joywaveconsulting.com (Matt Best & Stuart Ware)
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Time Stamps
00:00 Welcome and Introduction 00:41 Guest Introductions and Backgrounds 03:31 Licensing for Cannabis Cultivation Operations 08:10 Types of Cultivation Licenses 15:01 Planning and Designing Cultivation Facilities 17:07 Balancing Compliance and Budget Considerations 20:27 Having a Phased Approach to Cultivation 26:32 Financing Variables for Cannabis Cultivation 30:34 Understanding the Costs of Operating Cultivation Facilities 32:34 Indoor vs. Outdoor Cultivation: Key Differences 34:26 Navigating Construction and Compliance 38:06 Advancements in Cultivation Equipment 46:09 The Importance of Marketing Strategy 51:27 Top Mistakes in the Cannabis Industry 56:35 Final Thoughts & Wrap Up
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