Canna Real Estate Group not only specializes in commercial cannabis real estate, but also provides financial, architecture and construction consulting. As these industries are perpetually evolving, we are always on the lookout for ways to make more inroads in cannabis compliance, application strategy and the smorgasbord of available cannabis licenses — cannabis cultivation license, processor, nursery, distributor, retail, delivery and on-site consumption. Canna Real Estate Group is now offering consultation and assistance with cannabis license applications and compliance with partner Jim Boland of Two Buds Consulting.
Canna Real Estate Group collaborates with Two Buds Consulting to provide support for applications such as commercial cannabis growing licenses and cannabis cultivation licenses, as well as compliance tailored to both local and state-wide rulings. Jim Boland is an attorney with broad experience providing business and application strategy to clients in the highly-regulated cannabis space.
Boland entered the emerging cannabis industry via a Chicago startup in 2018. This startup grew into the largest vertically integrated cannabis company in the United States during his tenure. In 2021, he then joined one of the country’s largest private cannabis law practices, supporting clients with regulatory and licensing matters in several states.
Additionally, Boland is an adjunct professor of cannabis law at South Suburban College, which offers a Cannabis Dispensary Operations certificate program to prepare students for career opportunities in cannabis dispensaries.
These experiences laid the groundwork to open his own firm in 2022, Two Buds Consulting, to serve independent contractors and small to midsize multistate operators, typically with fewer than 10 licenses, who are seeking single retail, manufacturing or cultivation licenses. With Boland’s expertise in regulatory, compliance and licensing issues, Two Buds Consulting provides comprehensive cannabis legal and consulting services to assist client navigation through the complex cannabis landscape. The includes assistance with:
- Application development
- Licensing assistance
- Marketing review
- Corporate governance
- Privacy considerations
- Compliance consulting
Two Buds Consulting provides the following services:
- Document creation and review
- Regulatory interpretation and representation
- Business formation and documentation
- Corporate governance
- Application strategy
- Content development and review
- Submission preparation
- License renewals
- Officer and employee badging
- Early-approval applications and licensing
- SOP development and review
- Facility compliance assessments
- Training plan development and review
- Marketing and brand review
Working with Two Buds ensures that a business is incorporated using the most appropriate structure. Additionally, Boland advises clients on entity formation, application writing, regulatory compliance and local zoning approvals.
Assistance with these areas is essential, especially in the cannabis industry. According to the U.S. Bureau of Labor Statistics, one in five American businesses fail within their first year. Although it is a rich domain, cannabis businesses are not immune to closure. Here are five common issues Canna Real Estate Group and Two Buds Consulting have identified:
- Complacency after receiving a license
- Running out of capital or other key resources
- Miscarriage of tax and regulatory compliance
- Not marketing correctly or to the right audience
- Failure to adapt when the market or law changes
Many newer operators don’t realize they’ll be held to all the promises and commitments they made in their initial applications, according to Boland.
“When they’re unsure of what to do to remain in compliance, some operators are hesitant to communicate with regulators, which only puts them at a higher risk of making mistakes,” said Boland.
Do you see familiar themes here? There is no need to become an industry statistic. The best new businesses have robust plans for success. According to AllTopStartUps.com, some of the most effective ways to avoid failure are to:
- Have realistic goals
- Do your research
- Build a strong team of experts
Take control of your business and utilize experts with your best interest at heart. Contact Jim Boland and the Canna Real Estate Group team if you are looking for a cannabis application and compliance consultant with big law and in-house experience without the price tag of a large law firm.
Read the blog to learn more about how CREG is supporting the cannabis industry in 2023, specifically regarding upcoming changes in New York, Connecticut, Maryland and Missouri.