Over six years, everyone has witnessed the birth and spectacular rise of a new sector. The rapid spread of cannabis legalization across the nation is a sign of this wonderful plant’s bright future. The cannabis industry and cannabis professionals have grown together. Cannabis is being served by attorneys, consultants, brokers, CPAs, and others. These service providers have also switched to cannabis specialization.
There are many legitimate cannabis specialists, but there are also many scammers. It’s easy to overstate qualifications in the industry’s infancy. Because of this, you must extensively research your service providers before signing any legally binding contracts. Below here is a compiled list of the five most important things for you to think about before hiring a cannabis consultant to ease your way through this process.
1. Consider The Qualifications They Have In The Cannabis Industry
Although it may appear to be common sense, a surprising number of business owners just don’t put in the effort to thoroughly research the cannabis-related credentials of potential service providers. To begin, you should directly question them about the number of cannabis-specific deals they have brokered or the number of clients they have successfully guided through the process of obtaining a cannabis retail license. After that, you should follow up with references; if they have a genuine experience with cannabis, they shouldn’t have any problem providing you with some references.
2. Take Into Account The Breadth And Depth Of Their Knowledge
What is the level of knowledge that the accountant that you are thinking about hiring has regarding the tax code 280E? What information does the attorney have for you regarding the laws, regulations, and procedures for dispensaries? To ensure that you get a good feel for the level of expertise the professional possesses, you need to come prepared with several pointed and specific questions before your first meeting.
3. Take Into Account The Rate Of Return On Your Investment
It is common knowledge that professional services are not inexpensive, at least not quality professional services that are supported by legitimate credentials and years of experience. When signing a service contract, you want to have a clear understanding of exactly what it is you’ll be paying for, just as you would with any other significant investment or purchase.Any vague or ambiguous statements should be thoroughly investigated before being accepted as true by the professional whose services you are considering procuring; the professional should be able to provide a comprehensive, itemized list of what their service entails.
4. Think About Getting ABackground Check Done
Unfortunately, the reality is that con artists and criminals posing as cannabis professionals have taken advantage of a large number of honest and law-abiding business owners, taking them for the proverbial ride. These business owners worked hard to build their companies and obeyed the law. A simple background check ought not to be problematic for any credible professional who is willing to share their information. Although it may appear to be an unnecessary expense on your part, consider the potential damage that could be done to your brand if it is discovered that you have been working with an individual who is dishonest or unethical. It is preferable to take precautions at the outset to protect yourself, the reputation of your dispensary, and your company at all costs.
5. Take Into Account The Price
Finally, but most importantly, you should carefully analyze the price of reliable expert services. Because it will be substantially more expensive than typical, be prepared for the initial price to take some getting used to. As the saying goes, “if it looks too good to be true, it probably is,” you should be especially skeptical of specialists that quote incredibly low charges. Alternatively put, if the price looks too good to be true, it probably is. On the other side, there are lots of untrained consultants that bill at rates close to the price of genuine services. Due to this, you must conduct the most thorough research possible into potential service providers.