Real Estate: The Underrated Key to Cannabis Business Success

Hello, okay, that's really cool. Welcome back to the Cannabis Masterclass podcast by Cannes Strategy, where we bring the truth and clarity to the budding world of cannabis business. I'm your host and in today's episode we're going deep into the truth about cannabis real estate. Now let's light up the topic of the day. It's all about location, location, location, right In any business. For cannabis entrepreneurs, securing the right property isn't just an item on their to-do list. It's the bedrock of their future success.

But all too often we see this stuff treated with less seriousness than choosing the color of packaging. Let's go into why it deserves your full attention. First up, zoning and distance requirements. These aren't just bureaucratic hurdles. They're non-negotiable factors that can make or break your cannabis venture. From local government zoning laws to state mandated distance requirements keeping a certain buffer from schools and parks, for example these regulations significantly narrow down viable locations for cannabis companies. And here's where it gets even stickier for dispensaries. The available locations, due to these stringent laws, are often far from the prime retail spots. We're talking about buildings that might be perfect for cultivation, production and transport, but they're a nightmare for dispensaries. High traffic, easy access, visibility these are the lifeblood of retail and for dispensaries, that awkwardly located industrial zone could mean a death sentence for foot traffic and sales. But let's perk up a new topic Trust in the world of real estate agents and brokers.

If you find one that's not seasoned in cannabis dealings, you might as well be rolling your chances of success into a joint and watching it go up in smoke. Your agent needs to have not only read and understood the regulations, but also have a genuine grasp of your specific business needs so that they know how to filter through properties that come across their desk and present you with the ones that have your best interest and your businesses best interest in mind. Now let's hash out fees. In the cannabis space, it's not just high, it's often sky high. Some agents and brokers are reaching for fees that would make even the most successful businesses eyes water, so it's essential to sift through the fees like you're separating seeds meticulously and with a keen eye.

Looking for landlords can feel like navigating a field of land mines. You've got properties that are the cream of the crop, but their landlords are just saying nope to anything cannabis related. And then there are those who say yes, but with a lease price that's higher than your average customer on a Friday night, coupled with terms that are about as flexible as steel. So where does this leave us Fellow cannabis entrepreneurs? It all boils down to three essentials Finding a tenant representative who knows the cannabis scene. Properties that check all the boxes for compliance. And landlords who understand the value of a good tenant over the value of a quick buck.

In the quest to master the cannabis real estate game, remember, the right allies can turn the tide. A qualified tenant rep can be Gandalf to your Frodo, guiding you through the perilous journey of real estate. And when you find that magical mix of the right property and an ethical landlord, cling to it like the last thing on earth. To wrap it up, take your cannabis real estate seriously. It's not just where you do business, it's the soil that nourishes your growth. Put it on the top of your priority list and start with it as soon as you start your application. Get this right and the sky is the limit for your Green Empire. Thank you for tuning into this episode of the Cannabis Masterclass Podcast. With Cannes Strategy, we've covered a lot of ground today, but remember, when it comes to cannabis real estate, it's a journey worth taking your time on. Until next time, keep cultivating your knowledge and I'll be here rolling out the truth for all of you Gannapreneurs out there.