The cannabis market is thriving as states continue to legalize medical and recreational use. It is encouraging that a once-taboo subject is now being accepted nationally. Many people are excited to get a slice of the prize and open their own “mom n’ pop” dispensary. Unfortunately, there are a few hoops that you’ll have to jump through before opening up your own shop, including licensing, security, and building out your facility. This is a guide in producing a solid security plan that can hold up in the competitive cannabis market.
Read the Rules
It is highly important for someone on the team to read the local and state rules surrounding cannabis. Cannabis is highly regulated. Regulations vary from state to state, as well as from city to city— such as what tracking systems you are required to use for your inventory and how bright your outside lighting should be. Specific codes will assist in breaking down what is and isn’t allowed. Understanding the security rules in your state is foundational to any cannabis business, whether you are in cultivation, manufacturing, or retail.
Have a Plan
After you gain insight from the rules and regulations in your state, it is time to draft a skeleton of what you think your business is going to look like. Don’t worry, nothing has to be set in stone here. This just provides a basis of how you are going to answer questions regarding your business, such as:
- Who is your team made up of? What is their background, and what do they bring to your business?
- Where will you be located? What are the crime statistics in that area? What is the architecture of your building?
Meet with Professionals
Once you have an outline of how your business is going to look, it is time to meet with some professionals. Especially when it comes to security plans, competitive applications are graded based on a set rubric. These graders may be evaluating a hundreds or thousands of different applications. If your application doesn’t meet a specific requirement, your application will be discarded without a second glance. A professional security consultant will make sure that you, as a client, will avoid these common pitfalls.
A security professional will also be aware of what specific cannabis boards like to see. It could be as simple as a specific heading or format style. A professional can help give your security plan an edge that other applicants might not have in a competitive market. Additionally, security professionals, such as Sapphire Risk, that specify in cannabis can also assist when it comes to the buildout phase. What material is your vault supposed to be lined with? How many cameras and alarms are sufficient for a facility this size? A security professional who has a history with other cannabis clients will know specific cannabis answers that a general contractor might not know.
How Can Sapphire Risk Help?
Tony Gallo and the team of experts and consultants at Sapphire Risk Advisory Group have worked to secure medical marijuana and recreational cannabis businesses in 36 states. Follow us on social media to stay up to date with more security best practices and cannabis industry updates!
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