US legal cannabis sales are expected to reach $24 billion in market valuation by the end of 2021. However, the national regulatory landscape is continuously shifting as states embrace widespread voter support for legal cannabis businesses. Failures to meet even the simplest regulatory requirements, for instance, surrounding labeling can lead to costly fines that can put a small business out of operation. Also, the risk of product recall, consumer complaints, or lawsuit can spell disaster for even the most seasoned industry operators. Don’t let compliance become a moving target, partner with experienced industry professionals that can keep you ahead of state and federal regulators and prepared for inevitable audits or inspections.
Immediately post business license application, our team develops custom Standard Operating Procedures for the company’s business model and scale. We ensures every aspect of the business meets state and federal compliance standards and industry best practices. This means procedures for meeting GMP for manufacturing, GAP for cultivation, and GRP for retail. Operating procedures should cover every aspect of business activity including but not limited to production, sales, inventory, security, pest management, waste disposal, sanitation, packaging, IT, and transportation.
Companies that are already in operation with SOPs who are still encountering production issues our team can analyze their procedures, identify critical control points, and implement corrective actions, remediation, and mitigation strategies to ensure production meets quality standards. This includes plans for in-house testing, consumer complaints, and product recalls, as well as training for company employees on how to perform these hazard analyses and implement QAQC procedures. These are developed according to the FDA standards for Quality Management Systems, ISO 9000.
These materials include any activities engaged in by employees which may risk a company’s compliance. Specific company policies crafted to meet state and federal guidelines can include but are not limited to: OSHA, zero tolerance workplace violence, smoking, appropriate language for retail customer interactions, emergency response, hazardous materials storage and reporting, PPE implementation and training, sanitation, social media use, and client access verification. We can provide virtual seminars or in-person training.
Our compliance team will develop checklists and facility review forms designed to prepare your facility for regulatory review and inspection based upon your company’s business model and scale. We can perform a GAP analysis through in-person facility review and notify your company within 72 hours of any discrepancies or deficiencies in meeting state or federal compliance requirements. We can also train your team to perform these in-house inspections and checks and provide your company with a software-based solution for managing these logs and records. The software tools make it so that managers can easily assign tasks, track facility data, and maintain records of when tasks are completed and the name of the employee performing the work.
We can analyze a facility’s production model and make recommendations for strategies which can reduce resource consumption, reduce carbon footprint, and meet state and federal guidelines for environmental resource management and waste disposal. These consultations can also create contingency plans and fail-safes for facility operations in the event of emergency, and we have experience partnering with utilities providers to maximize rebates and minimize costs through efficient resource management.
Our team can implement organic farming SOPs and help clients choose a third-party certifier. We will work with the client to ensure they are prepared for the initial inspection and help them maintain records for ongoing monitoring by certifying agents.
For businesses operating within states where edible cannabis or hemp and CBD infused food products are available for purchase, our team can implement a food safety plan using the standards provided by the FDA, SQF, ISO 22000, and HACCP to develop safety protocols and compliance measures for all commercial kitchen applications. This also includes required nutrition labeling and food allergy reporting information.
The IRS has recently established guidelines for managing cash transactions and have noted that the cost of goods sold can be written off by cannabis businesses on their taxes. Our compliance experts can help develop the appropriate forms and records as well as policies and procedures to ensure that your business is prepared in the event of an audit from the IRS with a record of compliance. We also partner with experienced industry accounting experts that can manage your company needs and answer any questions surrounding best banking practices for the quickly expanding cannabis market.
Begin by emailing or calling our compliance experts and scheduling an introductory consultation. We will discuss what services your company may need, your business model and scale, your project budgets, and then we can suggest some services with timelines for project delivery and completion. We can partner with a company through an on-going retainer in order to provide compliance services on an as needed basis, or we can provide a quote for services with a scope of work statement, milestones for completion, and deadlines for delivery. Don’t wait to get your company compliant, contact our team today!