If you are a commercial cannabis grower, scaling should be on top of your mind right now. With more and more states legalizing cannabis, the growth opportunities are better than ever.
The booming demand in pandemic times is another sign that it is the right time to take your growing operations to the next level. But you require more than good intentions to achieve your scalability goals.
A strategic approach can help you do it easily and effectively. Moreover, it can help you sustain in the new markets and reach your revenue targets.
Five Tips to Help You Scale Your Cannabis Grow Business
Let us share some tips to scale your cannabis cultivation business successfully…
1. Evaluate the regulatory landscape
Evaluating the regulatory landscape is the first step to scaling your cannabis cultivation business. Regulations vary from state to state, and they keep evolving from time to time. You must take stock of the current laws governing growers in your location. Likewise, you must know the residency and ownership requirements while planning to expand operations in another state. You may even need proof of adequate financial resources in some states. Do your due diligence before strategizing your growth plan.
2. Set realistic goals
Since the opportunities are rife, you might feel tempted to rush to scale. It is easy to pick unrealistic goals and try the latest ideas shared by successful cultivators. But remember to take a realistic approach to your goals and roadmap. Duplicating what currently works for you is a good idea. You must maintain SOPs to ensure the quality of products even as you expand operations. SOPs help limit the cultivation variables that may lead to unintended outcomes.
3. Assess your current capabilities
You will need more equipment and labor when you plan to expand your commercial cannabis cultivation. The best way to move forward is by assessing your current capabilities and finding the gaps you need to fill. You can research online to get a fair idea about the additional capabilities you will need to scale your business. Prepare a budget and roadmap to get them in place for a seamless growth move.
4. Improve yields and efficiency
When it comes to growing your operations, improving yields and efficiency should be a priority. Scaling is not only about expanding the operations physically by acquiring more land for cultivation. It is more about making the best out of the available space and resources. For example, you can make soil amendments, practice vertical farming and utilize LED lighting to maximize the yield in the same area. Focusing on the efficiency of your staff also helps.
5. Become more sustainable
The objective of scaling your business should go beyond keeping up with the competition. Keep factors like cost savings, profitability, and sustainability in mind while taking your cultivation to the next level. The industry is inherently resource-intensive, and a sustainable mindset can save you money and boost your reputation. Implementing measures like irrigation automation and energy-efficient LED lighting takes you a step ahead with your sustainability goals.
Growing your commercial cannabis operations is easier than you imagine. You can do it with a minimal investment yet derive immense benefits. But it requires taking a strategic approach that focuses on efficiency and sustainability.