The future is green. The sale of legal cannabis in the US is a multibillion-dollar industry poised to become an economic titan. Revenues from medicinal marijuana continue to grow. Take advantage with Colorado Hard Money Loans.
Here’s a quick history lesson: In 1937, the Federal Government passed the Marijuana Tax Act banning recreational use of cannabis, not necessarily medicinal. By 1970, the feds passed the Controlled Substances Act federally banning both recreational or medicinal use of marijuana. Between the 1970s to now, the year of our Lord MMXIX, cannabis laws have seen astronomical changes. Namely, many states have decriminalized, legalized, or medicinally permitted cannabis. Depending upon the states, varying levels of laws may exist ranging from criminal to permissible.
Now that we’ve covered the general scope, let’s talk about the near and dear State of Arizona. Though weed was outlawed federally in 1970, in 1996, Proposition 200 passed allowing doctors to prescribe cannabis to patients. After a few months, this proposition was repealed by state legislation. In 2002, Proposition 203 failed to legalize cannabis with just 42.7% of vote-approval. Finally, by 2010, medical marijuana was made legal with the passing of prop 203 with 50.1% vote-approval. Some argue that recreational use of marijuana is a strong possibility. This is based on the fact that in 2016 Proposition 205, intended to legalize recreational cannabis, failed to pass by just 48.7%. All in all, 50 years has brought a considerable amount of change in Arizona’s cannabis laws.
Welcome to the present. The sale of legal cannabis in the US is a multibillion-dollar industry poised to become an economic titan. Arizona is a medicinal cannabis state possibly poised to become a recreational cannabis state. In the meantime, however the market is medicinal. Being that this is the case, what types of business opportunities are available in this type of market? How do you start?
Set up a business plan and structure. Find out if licensing for a legal marijuana business is available in your state, county, and city. Next, according to cannabusinessplans.com, apply for licensing through the Arizona Department of Health Services to “produce, process, test, and/or retail medicinal cannabis. Dispensaries must be licensed by the ADHS to legally operate. Dispensaries must have … a licensed doctor on staff.” Application fee is $5,000.
Arizona Hard Money Loans are a means to help you start your medicinal cannabis business in Arizona. With the licensing and approval you need, Arizona Hard Money Loans can help you establish your dispensary, clinic, cultivation, or retail inventory. Get the financial backing you need to secure the licensing and business plan of your dreams. Talk to your broker at Level 4 Funding to secure Arizona Hard Money Loans that are right for you!
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About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 43 years. They have 2 beautiful daughters and 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.