Commercial Real Estate, Capital, Insurance, Leasing & Management

Cannabis Business Times: From License Award to Sale to the Public

Published By: 

How to simplify and streamline the process of getting your grow facility up and running

By Nick Sanfilippo, Senior Vice President, Project Management

From the time a cannabis license is obtained, most states require a cannabis operator to get a cannabis facility and dispensaries up and running within 12 months, with quality product ready to sell to the public.

In that time multiple, often complicated, steps are required as the clock ticks. Property must be purchased and entitled, a highly sophisticated, scientific, and complex grow facility must be designed and permitted, and
cannabis-experienced contractors must be selected to build the facility on time and on budget. Although the timeline to sell to the public is typically one year, states often don’t consider a harvest schedule, which can take four to six months. Plants require specialized systems to deliver optimal, high-quality results, adding a complex layer to a successful, timely launch.

Every day is schedule critical. A grower’s expertise is growing, which requires focus. Diverting that focus to the development process takes away from growing a quality product on a deadline.

The solution is partnering with an experienced cannabis project management team to navigate the complex development process. This can be the difference between costly stalls and lucrative sales.

As the leader of our national real estate firm’s project management and dedicated cannabis business lines, backed by a team that has earned experience in the ever-evolving cannabis market, we understand how to streamline the facility building process so that high quality product gets to market faster.

At Franklin Street, our expertise is in the entire development life cycle. Speed to market and high-quality facilities that produce maximum grow room yield is what we focus on. We specialize in build-to-suit, fully vertically integrated cannabis grow facilities as well as programmatic dispensary rollouts in a streamlined experience.

We understand the importance of timing. We understand that a typical grow facility can produce $800,000 a week, so that picking up even two weeks on a schedule can produce an extra $1.6 million in sales. We understand that every day is absolutely critical.

Our expertise in the cannabis market over the years has produced millions of square feet of cultivation facilities and hundreds of retail dispensaries in more than a dozen states.

Franklin Street’s cannabis team has been able to leverage its real estate expertise to develop a national network of specialized design firms, vendors, consultants and contractors that are specialized in the cannabis industry. Franklin Street also has established relationships with preferred private equity cannabis funding resources.

Instead of focusing on construction and development, cannabis growers should be focused on business, product and winning more licenses, while we handle all the development and construction, on time and within budget.

Developers and construction managers by trade, coupled with our extensive cannabis experience, we are leaders in successfully getting license holders open within their allotted timelines and budgets.

Note: This article was originally published by Cannabis Business Times.

let's Connect

drop us a line