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Cannabis Business

Social Equity Partners is Available For Arizona Applicants

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With the passage of prop 207, legal cannabis sales for recreational purposes become a new norm for Arizona residents. The legal cannabis market is a multi-billion dollar industry with a projected worth of $73 billion globally by 2027. That’s why it is important for local residents of Arizona to look for partnerships that benefit local communities within Arizona instead of foreign corporations.

Social Equity Partners’ mission is to assist Arizona residents who were convicted of non-violent cannabis felonies to apply for adult-use marijuana dispensary and cultivation establishment licenses through the program offered by Social Equity Partners. Their goal is to offer Arizona residents with cannabis convictions extensive support in receiving a license and establishing a cannabis business through the Social Equity Program. The founder Thomas Lopez was convicted in 2001 by the State of Arizona with a felony for marijuana possession. He understands the obstacles of what it takes to have personal and professional growth after a criminal conviction which is why he founded Social Equity Partners.

Under the ELEVATE brand label, one of the services that Social Equity Partners offers is access to their fully conceptualized dispensary. ELEVATE is a boutique dispensary with the aim to modernize and deliver the highest-quality marijuana products, with locations planned for Sunnyslope, Glendale and Tempe. ELEVATE aims to serve the local communities of Arizona as a small independent business that keeps money in the community instead of generating profits for foreign corporations while forgetting about the concerns of the local citizens.

Applicants will receive assistance with developing a broad web presence, social media campaigns, and professional branding once accepted into partnering with Social Equity Partners. They will also have access to their pool of local investors who are local community members looking to provide capital for starting dispensaries that benefit local residents instead of funneling money into corporations.

Social Equity Partners will be there to offer assistance during the application process for Arizona residents who are applying with felony cannabis convictions by helping them complete the application, create a compelling business plan, and verify financial requirements.  The goal for Social Equity Partners is to ensure that all funding remains local and stays in the community. With this partnership, they believe that applicants have a chance to positively impact their neighborhoods and take part in reinvigorating local economies with locally-based investors’ support.

With a partnership like Social Equity Partners, applicants will have access to full support from land-use lawyers, Realtors, and permitting specialists to help with identifying a site for your cannabis business. Their real estate brokers and lawyers understand the legal requirements for zoning laws for spaces all over Arizona and will help assist partners with finding the right property for their needs. Their partnership increases the likelihood of eligibility for the Social Equity Ownership Program with their proven funding and business plans already in place.

Cannabis Business

Things To Consider When Buying A Dispensary

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When buying a dispensary, there are many vital factors to consider. The location of the dispensary, the amount of foot traffic, and whether or not the location has a parking lot can all be essential components in determining how much revenue a dispensary will generate. In order to ensure that your business is profitable and successful, you need to ensure that your store has an attractive interior design and exterior signage that attracts customers immediately.

In this post, we will discuss some of the critical aspects to consider before you decide to buy a dispensary.

What does it mean to own a dispensary?

The first thing you should know about buying a dispensary is that you’ll be taking on a lot of responsibility. When you own your own business, you are responsible for the day-to-day operations and must hire and fire employees, manage the inventory, and handle customer service issues. If you don’t have experience with all of these things, it may be helpful to work at another dispensary before purchasing one of your own.

It is vital to do research before buying a business.

Once you have an idea about what’s going on in your market, the next step is finding out whether buying a dispensary will be profitable for you. Before diving into the world of cannabis, it is crucial to do the proper research. Research is critical when buying any business, but especially in this industry. This is because there are so many factors that can affect the success or failure of your dispensary. To help you navigate these waters, we’ve put together a list of things to consider when buying a dispensary (and some resources to help).

  • Research the market: How large is the population? Are they willing to embrace recreational marijuana? What other dispensaries are there? Who are they competing with?
  • Research the competition: Do they have a brand identity that makes them stand out from other companies in their area? If so, how did they establish such a presence, and what can you learn from that strategy for yourself? What do other dispensaries do well, and where could you improve upon their model if given an opportunity to take over one day (which will happen sooner than later)?
  • Research regulatory environment: Does your state require licensing fees or taxes on businesses like yours? If so, how much will those cost each year going forward?

What is the cost of buying and owning a dispensary?

The cost of buying and owning a dispensary is another factor to consider before you buy a dispensary. You’ll also want to consider the cost of hiring employees, marketing and advertising, compliance with state regulations, and supply purchases.

Here’s how some costs break down:

  • The cost of buying your own building or space is an important consideration, as it can add up quickly if you don’t have enough capital saved up yourself. A location may cost $100K or more; this amount could include construction costs, equipment installation charges, and permit fees (if applicable).
  • Another significant expense is paying for labor resources such as managers who oversee operations on site and security guards who protect against theft or other types of crime occurring at night when customers aren’t present during closed hours.

Conclusion

In conclusion, we can see that buying a business has many challenges. It is important to do research before buying a business and make sure it is worth the investment. You need to consider the cost of buying and owning a dispensary as well as what it means to own one. The last thing you want is regret after investing so much money into something that doesn’t work out as planned.

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Cannabis 101

The Growth of the Cannabis Industry in 2022 [VIDEO]

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Municipalities in Western New York now have to decide whether or not they will permit cannabis sales and consumption sites. Though there are municipalities that are now decided, there are still 13 places in Erie County and 5 municipalities in Niagara County that are still undecided.

However, with huge numbers of municipalities that opt out of the legalization of the sale and consumption of cannabis, many businesses are in muddy water. Watch this video for more details.

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Cannabis 101

California Cannabis Businesses Fear State’s Legal Industry Could Collapse [VIDEO]

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California has been among the states that allowed the sales of cannabis. However, the industry in the state is experiencing drastic changes that cause businesses to fear legal industry collapse.

Many cannabis entrepreneurs are seeing illicit cannabis transactions and huge taxes as the two main causes of these dramatic changes in the industry. Watch this video to learn more!

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