Real Estate: The Underrated Key to Cannabis Business Success

Are you ready to spark up your knowledge about one of the most essential, yet often overlooked aspects of the cannabis business - real estate? In this compelling mini-episode of the Cannabis Masterclass Podcast by Canns Strategy, we ignite a high-stakes discussion about why securing the right property isn't just a checkbox on a to-do list, but the bedrock of your future success. Come with us as we unpack the non-negotiables, like zoning laws and distance requirements, and navigate the unique challenges dispensaries face in finding prime retail spots due to stringent regulations. 

But the truth is, it's not just about finding the perfect location. It's about understanding the intricacies of the cannabis real estate game. In this episode, we'll shine a light on the inflated fees in the cannabis space, and the challenge of finding landlords who are open to cannabis businesses. We'll help you understand why a well-versed real estate agent is a key ally in cannabis dealings and how to navigate this tricky terrain with the help of a tenant representative familiar with the cannabis scene. So tune in as we guide you through the nuances of cannabis real estate and start the journey to build your company. Remember, in this game, it's worth taking your time. With Canns Strategy, we're here to lay a solid foundation for your cannabis business, and ultimately help you cultivate your knowledge for continued growth.

Thank you for tuning in to 'Cann Strategy: Elevating Your Cannabis Business Venture'. Our mission is to empower cannabis investors, business owners, and entrepreneurs with rarely shared insider knowledge to navigate the fast-growth cannabis industry.

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Also, don't forget to check out our website at www.cannstrategy.com for even more resources and insights into the cannabis business world. We offer a range of consulting services to help you navigate the complex cannabis industry and turn your cannabis business dream into a reality, no matter what stage of the game you're in.

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Episode Transcript

Speaker 1 (00:00):
Hello, okay, that's really cool.
Welcome back to the CannabisMasterclass podcast by Cannes
Strategy, where we bring thetruth and clarity to the budding
world of cannabis business.
I'm your host and in today'sepisode we're going deep into

(00:21):
the truth about cannabis realestate.
Now let's light up the topic ofthe day.
It's all about location,location, location, right In any
business.
For cannabis entrepreneurs,securing the right property
isn't just an item on theirto-do list.
It's the bedrock of theirfuture success.
But all too often we see thisstuff treated with less

(00:42):
seriousness than choosing thecolor of packaging.
Let's go into why it deservesyour full attention.
First up, zoning and distancerequirements.
These aren't just bureaucratichurdles.
They're non-negotiable factorsthat can make or break your
cannabis venture.
From local government zoninglaws to state mandated distance
requirements keeping a certainbuffer from schools and parks,

(01:06):
for example these regulationssignificantly narrow down viable
locations for cannabiscompanies.
And here's where it gets evenstickier for dispensaries.
The available locations, due tothese stringent laws, are often
far from the prime retail spots.
We're talking about buildingsthat might be perfect for
cultivation, production andtransport, but they're a

(01:28):
nightmare for dispensaries.
High traffic, easy access,visibility these are the
lifeblood of retail and fordispensaries, that awkwardly
located industrial zone couldmean a death sentence for foot
traffic and sales.
But let's perk up a new topicTrust in the world of real

(01:49):
estate agents and brokers.
If you find one that's notseasoned in cannabis dealings,
you might as well be rollingyour chances of success into a
joint and watching it go up insmoke.
Your agent needs to have notonly read and understood the
regulations, but also have agenuine grasp of your specific
business needs so that they knowhow to filter through

(02:10):
properties that come acrosstheir desk and present you with
the ones that have your bestinterest and your businesses
best interest in mind.
Now let's hash out fees.
In the cannabis space, it's notjust high, it's often sky high.
Some agents and brokers arereaching for fees that would

(02:30):
make even the most successfulbusinesses eyes water, so it's
essential to sift through thefees like you're separating
seeds meticulously and with akeen eye.
Looking for landlords can feellike navigating a field of land
mines.
You've got properties that arethe cream of the crop, but their
landlords are just saying nopeto anything cannabis related.

(02:53):
And then there are those whosay yes, but with a lease price
that's higher than your averagecustomer on a Friday night,
coupled with terms that areabout as flexible as steel.
So where does this leave usFellow cannabis entrepreneurs?
It all boils down to threeessentials Finding a tenant

(03:16):
representative who knows thecannabis scene.
Properties that check all theboxes for compliance.
And landlords who understandthe value of a good tenant over
the value of a quick buck.
In the quest to master thecannabis real estate game,
remember, the right allies canturn the tide.
A qualified tenant rep can beGandalf to your Frodo, guiding

(03:39):
you through the perilous journeyof real estate.
And when you find that magicalmix of the right property and an
ethical landlord, cling to itlike the last thing on earth.
To wrap it up, take yourcannabis real estate seriously.
It's not just where you dobusiness, it's the soil that

(04:00):
nourishes your growth.
Put it on the top of yourpriority list and start with it
as soon as you start yourapplication.
Get this right and the sky isthe limit for your Green Empire.
Thank you for tuning into thisepisode of the Cannabis
Masterclass Podcast.
With Cannes Strategy, we'vecovered a lot of ground today,
but remember, when it comes tocannabis real estate, it's a

(04:22):
journey worth taking your timeon.
Until next time, keepcultivating your knowledge and
I'll be here rolling out thetruth for all of you
Gannapreneurs out there.