Our Team Building course module ensures you know how to source award winning talent to secure your cannabis license. In the highly regulated and competitive cannabis market, knowing the motive of your business partners and understanding their values and vision are key starting points when assembling your team.
During the dispensary application process, individuals on your team will often be required to submit identifying information, such as ID, SSN, background checks, and other documents.
YOUR CORE TEAM:
When it comes to applying for a dispensary license, you will need a well-rounded group of individuals who usually represent three categories:
- Advisors / Employees.
- Vendors / Subcontractors.
These Individuals will be acting on behalf of their person, if someone is attached to a company, they will be considered "Vendors/Subcontractors", further outlined below. In most cases, these individuals will go through low level of disclosure during the application, and will simply be required to provide bio/resumes and a letter of intent (as a best practice not requirement).
Please note: Pending on your state and requirements for the application, some states will require proposed employees/advisors to submit contact info and/or go through background checks.
Example list of Advisors/Employees:
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Chief Compliance Officer
Companies (not individuals) providing professional services, for example: RE Broker, attorney, contractor, etc. Similar to Advisors/Employees, these companies will go through a low level of disclosure for the application, and will simply be required to provide a company bio and a letter of intent (as a best practice not requirement).
Example list of Vendors/Subcontractors:
Any individual who is an owner/stakeholder of the applying Entity or Investing. These individuals will have to go through high level of disclosure. These individuals will be required to submit identifying information (such as copy of ID, SSN, contact info, background checks, etc.) and will also likely be required to sign attestations (prepared by the state for the application). Examples of Owners/Investors/Principals include:
Local Legal Counsel
Security Alarm and Installation
While you may think, developing such an extensive team may be overkill for a proposed business that you may or may not get a license for, our experience has proved the more prepared you are for actual business operations, the higher chance you stand of being selected as a licensee. Your dispensary application is your opportunity to demonstrate to your local government officials, that you have thoroughly thought through your proposed dispensary, and you are prepared to begin business as soon as you are awarded a license!