In a recent Westword article, it was mentioned that a growing industry in Colorado is medical marijuana. Since Amendment 20 passed in 2000, Colorado is 14 states that has decriminalized medical marijuana. While marijuana is illegal under federal law, in Colorado, patients with documentation from their doctor that it is necessary can cultivate, possess and use medical marijuana. (Which means you can be arrested under federal law, just not state law for using medical marijuana.) This has created a new business for those willing to enter it. Everything from dispensers to growers have seen a new business venture in the making.
However, when entering a business that is on the shady side of the tracks, it is essential to get good legal counsel. Unfortunately, this goes not only for businesses dealing in medical marijuana, but also for adult stores, liquor stores, and cigarette stores. As these stores tend to be magnets for both profit potential and community dislike, having the proper business set up can make a big difference. In addition, if you are a store that sells products that can only be sold to people over a certain age, it is necessary to have a strict employee policy in place regarding sale to minors. You also have to abide by stricter zoning laws regarding where you business can be place.
If you have any questions about starting your small business, please contact me, Elizabeth Lewis, at Elizabeth.Lewis@eclewis.com or 720-258-6647.