Hance Construction Brings Expertise to Cannabis Industry Events

The Law Changed…Now What?

Since New Jersey voted adult use of cannabis into law in November 2020, the surge of interest by owner/investors to enter the potential market has created a demand for more education about the many detailed aspects of going into the business.

Passionate about making sure owners don’t make costly mistakes due to poor planning, Hance and his select team of cannabis construction experts responded by offering in-depth information and various seminars for those interested in developing or expanding a business in the cannabis industry, and for those committed to supporting equitable business development efforts in New Jersey and New York.

Although cannabis is legal in New Jersey, the state’s regulatory commission has yet to define the requirements for licensing and sales.  Some worry the costs will to be too high to allow for smaller businesses a chance to flourish in the local cannabis market.

Find Valuable Resources at Local Events

Events organized by NJ Cannabis Insider (NJCI) apply to owners and investors of all sizes looking to build a grow facility or dispensary in New Jersey or New York. These events are also for anyone interested in supporting business development within the cannabis industry of the Tri-State area.  Each NJCI conference features panel discussions and education about various aspects of the region’s burgeoning cannabis market.

The first live NJCI business event since the pandemic shutdown 15 months ago is happening on July 29th, and Hance Construction— a major sponsor of and contributor to the NJCI events— will have a booth, front-and-center, to meet and greet like-minded professionals seeking growth opportunities and community advancement in New Jersey’s expanding cannabis industry. 

Hance is thrilled for the return of in-person collaboration with colleagues and clients alike: “’Tailored Construction Services’ is our motto; our service is personal. We sit down and listen to the owner’s ideas, and then discuss even the hard questions. A trusting relationship with our client is paramount to the success of any project.”

July’s panel discussion “Delivery, Equity, and Microlicensing” will address and explore options for creating market equity. This includes taking a tip from other states that have offered opportunities for smaller businesses to participate in the cannabis industry via microlicensing and delivery methods.

Tips For Success in Planning Your Cannabis Business

“The team at Hance Construction has been building in the Tri-State area for over 30 years,” reflects Hance. “We know the unique challenges to getting projects approved, built and generating income quickly.”

With every cannabis project from our first—helping develop the first medical cannabis greenhouse grow facility in New Jersey—Hance Construction’s approach has always been to not just complete work on a single structure, but to help design the infrastructure that would enable the client’s future growth, from site selection to energy considerations to facility expansion planning.

If you are an owner or investor wanting to develop a business in the region’s cannabis market, here are three tips for success:

1. Know what you want.
   Where do you want to be in the cannabis market, and how do you want to enter it? What is your timeline? Will your selected site support your facility’s operations and business growth?
   
   
2. Know your finances and budget.
   Licensing and permitting aside, building a facility can be a significant investment; one that requires a well-considered long-term strategy for success, including community impact.
   
   
3. Meet with your design-build team before you even start planning.
   Choosing to work with a reputable, experienced cannabis builder like Hance Construction can save you tens, even hundreds of thousands of dollars in surprise costs and precious time.