Marijuana Business Magazine - May-June 2018

people, and the best agriculturist you can find may not speak English. If you want to export, don’t expect buyers to learn your language just to be able to buy from you. If you need an interpreter, bring one who has your interests in mind. 3. Initial Planning Steps • Prepare a global business plan: Write down why you want to expand outside North America. Are you committed to long-term growth despite short-term difficulties and probable losses? Don’t assume prices will be higher than at home. • Export vs. home market: Do you want to export only, or do you want to invest in a foreign country? If you want to invest in cannabis cultivation and/or manufac- turing in another country, will you export from there or address the local market? Will the investment abroad survive as a stand-alone business with local sales, or Ready to get more out of your processing equipment? Contact us today www.kannamill.com | info@hammermills.com | 1-800-447-4634 Speed up your pre-roll processing and increase extraction yields with KannaMill will exports be crucial? If exports are crucial, how long can you afford to wait until you’re able to export? That process might take longer than expected. • Conduct foreign market research: Look for local sources. Local legal advice will likely be needed, but it probably won’t be the only help you need. • Manage your risk: Chase too many opportunities, and you might end up unable to execute any of them. Chase only one, and you’ll risk getting whacked by regulators, political changes or currency fluctuations. • Choose business partners: Decide if you want a local importer to do your selling or if you want to open a subsidiary to import for yourself. If you want to produce in a foreign country, do you want to do it alone or find a local partner to help you? • Look for backers: Find financing before it’s too late. GOING GL BAL