Starting a hemp business in Georgia? Here’s what you need to know!

How to start a hemp business in Georgia
It is now perfectly legal to cultivate and process hemp as well as produce and dispense hemp oil in the State of Georgia—as long as you have the right permits for such activities.

The passing of the Georgia Hemp Farming Act made this possible, and with the state’s long growing season and warm climate, experts believe that hemp companies in Georgia can compete globally.

That’s good news, right?

If you’re one of the many entrepreneurs interested in starting a hemp business in Georgia, this blog will guide you in fulfilling the necessary steps.

 

#1 Create a hemp business plan

Your hemp business plan should thoroughly cover all the key components of your hemp business. Some of the topics that your business plan should cover are as follows:

  • Business/Company Summary
  • Market Opportunities
  • SWOT Analysis
  • Breakdown of Operating Expense
  • Projected Profit & Loss
  • Marketing Plan
  • Sales Plan
  • Cultivation Plan
  • Processing Plan
  • Security Plan

 

#2 Identify the most lucrative markets for your hemp products

Hemp has so many uses. We highly suggest that you perform thorough research on the most lucrative markets for your products. CBG and CBD oil market (though currently in high demand) are just one of the many. Other uses of hemp are listed below:

  • Hemp seeds
  • Hemp textiles
  • Hemp hurds
  • Hemp jewelry
  • Hemp insulation
  • Hemp concrete

 

#3 Check Georgia’s Hemp Program

You must familiarize yourself with the Georgia Hemp Farming Act and other relevant rules and regulations of the state. Laws are very dynamic, so make sure that you keep yourself abreast of any updates from time to time.
 

#4 Apply for a Georgia Hemp Permit/License

A. Georgia Hemp Processor Permit
The Hemp Processor Permit allows the person to process and handle hemp that has a total THC concentration of not more than 0.3 percent.

A Hemp Processor Permit does not allow the permittee to cultivate, farm, or produce living clones of hemp. You must obtain a Hemp Grower License to cultivate and produce hemp plants. Processors who intend to grow hemp must apply for a Hemp Growers License.

Requirements

  1. Complete the Georgia Hemp Processor Permit online application form
  2. Pay the initial fee of $25,000 to the Georgia Department of Agriculture once the application has been approved. The GDA will inform you when it’s time to pay. The succeeding permit fee is $10,000/year.
  3. Obtain a Georgia Hemp Processor Bond.
    • $100,000 (bond amount)
    • Bond premium varies per applicant
  4. Undergo a background check.
  5. Submit a legal description and global positioning coordinates sufficient for locating facilities for processing hemp.
  6. Provide the GDA with a copy of written agreements between the applicant and the hemp grower within ten days of execution of each agreement or amendment.
  7. Provide affidavits of the applicant and every Georgia licensed hemp grower with whom the applicant has entered into a written agreement with. Both parties must affirm that they have entered into or intend to enter into such an agreement. The affidavit(s) must be in the form provided by GDA.
  8. Provide a written consent allowing the Georgia Bureau of Investigation and other state law enforcement agencies to conduct a physical inspection.

 

B. Georgia Hemp Grower License

A hemp grower is a person who is authorized to handle and cultivate hemp. Any person applying for a hemp grower license must be a qualified agricultural producer.

Requirements

  1. Complete the Georgia Hemp Grower License online application form.
  2. Pay the license fee to the Georgia Department of Agriculture. The license fee is $50.00 per acre cultivated up to a maximum license fee of $5,000.00.
  3. Submit a legal description and global positioning coordinates sufficient for locating facilities for processing hemp.
  4. Provide the name of the permittee with whom the applicant has entered into or intends to enter into an agreement.
  5. Undergo a criminal background check.
  6. Provide a written consent allowing the Georgia Bureau of Investigation and other state law enforcement agencies to conduct a physical inspection.

 

#5 Find the right team members

Having the right people on your team is crucial in achieving your business goals. Not only should your team members have sufficient experience in the hemp industry, they must also have the drive, tenacity, and integrity to move the business forward.
 

#6 Have a good marketing and sales plan

Since hemp is part of a highly regulated industry, marketing can be quite a challenge. Before you start being creative about your company’s marketing strategies, make sure that you read all the restrictive marketing-related rules of the hemp industry.
 

#7 Never stop learning

The ongoing acquisition of knowledge is important not just to keep up with the fast-evolving world of the hemp industry, but also to address business challenges.

 
We wish you the best of luck on your endeavor. If you need a Georgia Hemp Permit/License Bond, contact us, we can help.

 
 

Liked this content? Share it!