Maryland’s total cannabis sales reached nearly $800 million last year. Recreational sales, which started in July 2023, are taking off, while medical marijuana sales have slowed down a bit. By 2027, recreational sales could be over $2 billion! This data indicates that the cannabis market in Maryland is constantly evolving and is very competitive. Therefore, it can be challenging for new cannabis businesses to make a place for themselves in this market.
You may be at any stage of your cannabis entrepreneurial journey, but only a consultant can help you navigate the complexities of regulations, licensing, and competition.
Why Hire Consultants for Your Maryland Cannabis Business?
Think of your consultant as an Expert Guide for your cannabis business. They possess a deep understanding of Maryland’s specific cannabis regulations, licensing requirements, and market trends. This expertise translates into a roadmap for success, helping you avoid costly missteps and capitalize on hidden opportunities.
In this article, to assist you in the process of choosing the right consultants to work with, we’ll be looking at the 5 best U.S. cannabis consulting firms:
What Makes A Good Cannabis Consultant
When it comes to cannabis consultants, trust is vital. These consultants will be diving deep into your business, so choosing someone you feel comfortable sharing confidential information with is crucial. If there’s any hesitation on your end, it can block the consultant from seeing the whole picture and helping your business reach its full potential.
Characteristics of a Good Consultant
- Top-notch cannabis consultants are like business ninjas. They can adjust to any team, project, or work style on the fly. This adaptability ensures they can use their expert knowledge to help your business flourish.
- Successful consultants are efficient and effective. They find ways to get the best results in the least amount of time and with minimal difficulty. They are skilled problem-solvers who can quickly understand and address challenges.
- Perseverance is key for great consultants. They view challenges, mistakes, and criticism as opportunities to learn and improve. They analyze setbacks to prevent them from happening again, and they keep moving forward.
- The best consultants are good listeners. They focus on understanding their clients’ needs before offering solutions. Their main goal is to help their clients succeed. By attentively listening, they build trust and strong relationships, which allows them to deliver the best possible service.
What are the Key Considerations To Choose a Cannabis Consultant for the Maryland Market?
Here are some key factors to consider when choosing the perfect cannabis consultant for your needs:
- Industry-Specific Experience – Look for a consultant who’s been in the cannabis market for some time. The industry is a labyrinth of regulations and nuances, so choose someone who can guide you confidently.
- Targeted Services – Not all consultants offer the same services. Identify your specific needs – licensing, cultivation, compliance? Ensure the consultant’s expertise aligns with your goals.
- Client Success Stories – Past performance is a strong indicator of future results. Ask for client references and delve into their experiences to understand the consultant’s track record.
- Ease of Communication – You’ll be working closely with this consultant, so a good fit is crucial. Choose someone with a communication style that resonates with you – clear, informative, and someone you feel comfortable asking questions.
- Fee Transparency – Get quotes from multiple consultants and understand their fee structure upfront. Ask what’s included in their fees to avoid any surprises later.
- Social Equity Discounts – If you’re a minority-owned business or part of a disadvantaged group, inquire about social equity discounts offered by some consultants.
Can Consultants Help Find Location for Your Maryland Cannabis Business?
Yes, Cannabis Real Estate Consultants can. They can help you find and negotiate a lease for a cannabis facility. They can also help you assess the suitability of a property for your business needs.
Also, the zoning and licensing process can be tricky. A consultant can guide you through it, saving you time and potential headaches.
Best Maryland Cannabis Consultants
Here is a list of the top 5 cannabis consultants in Maryland:
CannaDelta
CannaDelta positions itself as a leading force in cannabis consulting, aiming to be your one-stop shop for navigating the industry’s complexities.
Here’s a closer look at what they offer:
CannaDelta helps in acquiring a cannabis license. Their core service is helping you secure cannabis licenses and certifications relevant to your location. This could include retail dispensary, cultivation, processing, manufacturing, testing, and even research licenses.
Beyond acquisition, they emphasize ongoing compliance support, ensuring your business stays up-to-date with ever-evolving regulations.
CannaDelta recognizes the importance of a solid foundation. They offer assistance in crafting a comprehensive business plan that lays the groundwork for your cannabis venture’s success.
CannaDelta boasts a team of seasoned professionals with a proven track record. Their reach extends beyond borders, offering services across the US, Canada, and internationally.
Longview Strategic
Longview Strategic Partners acts as a trusted advisor for cannabis businesses. They have a proven history of success in working with public, private, and non-profit entities. Their core services include providing top-notch counsel, securing valuable resources and connections, and crafting written materials to ensure their clients’ success.
Here’s a breakdown of the services they offer:
Consulting
- Partnerships and formations
- Market entry
- Scaling operations
License acquiring assistance
Construction Project Management
- Design & Build Projects for the cannabis industry
- Cost estimation
- Bidding process
- Vendor management
Operational Consulting
- Staffing
- Optimization for cultivators, manufacturers, wholesalers, and dispensaries
- Research
- Equipment procurement
By combining business development expertise with cannabis licensing knowledge and operational consulting, Longview Strategic positions itself as a one-stop shop for businesses seeking to enter or expand within the legal cannabis market.
Temeka Group
If you need an advisor to help you design and construct your cannabis facility – Temeka Group’s consultation services are what your business needs.
Here’s what Temeka Group can offer businesses in the cannabis space:
- Turnkey services
- Dispensary layouts
- Signage and graphics
- Millwork and cabinetry
- Procurement
- Installation
While they might not provide consulting services in areas like licensing or business strategy, Temeka Group fills a crucial niche for businesses looking to establish a strong physical presence in the legal cannabis market.
Forte Ops
Forte caters specifically to cannabis dispensary owners, offering a comprehensive solution for launching and operating their businesses. Their expertise lies in navigating the complex landscape of licensing and regulatory compliance. They not only help you secure the necessary licenses but also ensure ongoing adherence to ever-evolving regulations.
Beyond compliance, Forte Consulting provides training programs for your dispensary staff and assists in developing Standard Operating Procedures (SOPs) for smooth operations. They understand the importance of retail success and offer guidance on best practices for dispensary layout and customer attraction strategies.
Forte Consulting Services include:
- Dispensary Training & Consulting
- Standard Operating Procedure
Cure8
Cure8 empowers businesses at all stages – from launch to established operations – by acting as a one-stop shop for all their IT needs.
Their comprehensive services span the entire IT spectrum, offering both basic support and complex consulting projects:
- Cure8 acts as your IT architect. They create a customized plan based on your specific needs and budget, then source the necessary hardware and software. They even offer a convenient self-service store for hardware purchases.
- Cure8 oversees the installation and ongoing management of your entire IT infrastructure, including network setup, point-of-sale (POS) systems, and crucial security measures. This allows you to focus on core business activities.
- Data and facility protection are top priorities. Cure8 prioritizes security by installing and managing surveillance systems. They also provide ongoing support to ensure your systems remain compliant and impenetrable.
By partnering with Cure8, cannabis businesses can cultivate a secure and efficient technological environment, fostering growth and success without IT concerns.
Finding the Perfect Partner for Success
Selecting the right consultant is crucial for thriving in any fast-paced industry. By focusing on experience, expertise, communication style, reputation, and adaptability, you can identify the ideal partner to guide you through challenges and capitalize on opportunities. With the support of a reputable consulting firm, your business can flourish and expand in this dynamic market.
