How Can My MMJ Business Prepare for the MMRSA Laws?
While California’s MMJ industry awaits the upcoming MMRSA regulatory system, business owners should utilize this pre-implementation period to anticipate
and prepare for changes their businesses will inevitably have to make.
Every currently-operating MMJ business will have to adjust, and compliance under
the laws may require nothing short of a complete business overhaul. Failing to anticipate what your business must do could result in a myriad
of problems that jeopardize your income – or even your entire business.
Under the laws, current MMJ business owners are allotted a time extension
on necessary business adjustments. However, early preparation and recognition
of the changes your business will have to make gives you several advantages:
First, you’ll not only know in advance what compliance will cost
your business – you’ll also have longer to determine the best
way for your MMJ business to fund it. From owners wishing to expand their businesses in the next few years to
those just simply wanting to maintain reliable projections and budgets,
an early understanding of what the MMRSA laws mean to your business may
be key to meeting your goals and help you avoid disastrous financial pitfalls.
Second, taking steps now conveniently safeguards your peace of mind in
knowing that your business’s application for a MMRSA license won’t
be denied. The state’s grant of priority license application for businesses
in operation prior to January 1, 2016, is contingent upon the MMJ business
being in “good standing” with both the state and its locality.
Reviewing your business now for future necessary changes allows you to
ensure your current operations are fully compliant as well. As the list
of MMRSA license applicants is sure to be long, you don’t want to
discover red flags that are grounds for priority application denial at
the last minute, moving you back in the line. Similarly, if you wish to
start an MMJ business (or began operating your MMJ business after January
1, 2016), early preparation affords you an opportunity to invest your
money wisely by avoiding implementations that will soon be unacceptable.
Every new business owner knows that start-up capital can go fast –
make sure you’re using yours on procedures that will ensure you
receive licensing and protect you for several years.
Third, early professional assistance in making sure your MMJ business is
compliant ensures that you did not overlook any aspects of the necessary changes. These could be matters relating to legal compliance, or they could be
simple operational factors that affect how smoothly your MMJ business
runs while transitioning. For example, some businesses may have to relocate
to maintain compliance, as new laws regarding water use, landscaping,
and waste will make previously-acceptable locations illegal. Dispensaries
that use delivery drivers must ensure both the drivers
and recipients possess certain paperwork; preparing your customers can help
you avoid hiccups in day-to-day operations, giving you an edge on unprepared
MMJ entities. Given the overwhelming nature of the MMRSA laws, the consequences
of “not knowing what you don’t know” will likely prove
disastrous for many businesses. Professional experts with experience in
compliance can point out requirements you’ve overlooked.
Finally, early preparation may actually
increase your business’s income and help its reputation. Given that all MMJ businesses must eventually make these changes, those
who are proactive in getting a head start enjoy advantages such as:
- Knowing that their decisions are well-contemplated.
- Opportunities to merge compliance projects with positive aesthetic changes
to the MMJ business, giving it a newer look and unique feel.
- Ensuring that clients and customers are informed – particularly if
changes require temporary business closures or order delays.
- A reputation as a business that cares about its employees, as the ability
to give advanced notice regarding changes, new training, or temporary
closures shows they are valued.
- A reputation as a business that is reliable, professional, and completely
legal under CA law.
In short, there is no better time than now to begin preparing your MMJ
business for the changes to come, and professional assistance is highly
recommended. Doing so will not only afford you time to contemplate the
best strategies for your business’s transition, along with how to
fund it – it will also provide you with the confidence of knowing
that your MMJ business is prepared to operate both successfully and compliantly
under the new laws for years to come.