The 4 Pillars To A Winning Marijuana License Application

The 4 Pillars To A Winning Marijuana License Application

Luck isn’t a factor when it comes to crafting a winning marijuana license application for your business. A license is only granted with strategy, skill and planning. As there’s so much on the line, the importance of winning your application can’t be stressed enough.

Almost every municipality places a limit on the number of licenses they issue in each category, which means there is fierce competition. The average applicant invests tens of thousands of dollars in building acquisition, professional service fees, and license application fees. Additionally, significant time is invested.

So, what can you do to ensure success?

Want a solid business plan? Or to connect with a team of investors? Book a consultation now.

1. Team

Every license application must list a team. Most teams consist of members that add different resources to the company; some have money, while others have expertise. The best applications demonstrate winning teams. If a team member has questionable financial, moral or criminal records, you must immediately remove them. Conducting extensive, internal background checks are a vital first step to forming a team.

It’s important to know what to look for in a team member. Both the state and municipality scrutinize certain aspects of an applicant. Many people think their records are good, only to find out they’re not. When that discovery is made, it’s usually too late. This is why you should hire an experienced third party to vet every team member; including yourself.

Writing persuasively about the assets of a team also requires experience, skill and creativity. A winning application excites the reader about the team’s qualifications and experience. An applications with a non-compelling team is often pushed forgotten. Government officials want to work with exciting teams, too. 

The team should consist of multiple company executives in the right corporate structure, such as a Chief Executive Officer (CEO), Chief Operating Officer (COO), Chief Financial Officer (CFO), and Vice President (VP). Furthermore, these titles designate responsibilities of which each team member should be qualified to accomplish.

2. Property Location

Property is very unique, as municipalities consider many aspects such as proximity to sensitive adjacent businesses (i.e. schools, parks and churches). Even if the spacing requirement is satisfied, the location may still be unacceptable. The “personality” of a district is important to consider.

Government officials pay special attention to development necessary to the area. How many similar businesses are close by? What is the proximity of the closest municipal building? These are just some of things that matter to municipal officials. Put yourself in their shoes and select property that they love, which unfortunately isn’t always the one you love. Location is incredibly important to winning a municipal license application.

When the property is officially selected, the applicant writer must make the property look as desirable as possible. Consider what re-development is possible. What type of potential community improvement projects are there? How is a marijuana facility in that location good for the municipality and its residents? Is it too close or too far away from the downtown development area?

For many unexplainable reasons, some properties suit marijuana facilities more than others. 

Want a solid business plan? Or to connect with a team of investors? Book a consultation now.

3. Finances

If a business doesn’t have adequate capital, it won’t be successful; no matter what the team or location is. The money must also come from legitimate sources. While many people don’t have a problem with that, there are still many people who do. 

A realistic business plan will dictate the necessary capital. Municipalities want businesses that are able to survive independently for awhile, and not live week-to-week. Additionally, solid financing allows you to invest in weak areas when they arise. 

4. Time

If the application writer doesn’t enough time to prepare, the application won’t be strong. Careful planning is important. Set deadlines to ensure success. The applicant writer should be diligent and plan to finish the application well before its due date. 

However, it’s important to remember that there are always unanticipated delays. Consider even the printer used. This is one reason why multiple copies of the application are necessary.

For presentation (which is the unofficial fifth pillar), your application copes should print in color. Before printing, you, along with many qualified third parties, must revise your application several times over. The longer the application, the more errors can pop up. It will amaze you at how many errors there are even after several reviews.

Win The Competitive Marijuana Business Application

Experience has taught us that these are the four pillars to winning a marijuana license application. When followed exactly, a license is most certainly in the cards. 

Want a solid business plan? Or to connect with a team of investors? Book a consultation now.