Wellness + Cannabis: What you need to know

As cannabis legalization progresses in the United States, there are parallel and growing efforts to organically integrate the wellness community, including areas such as fitness, yoga, meditation, Ayurvedic treatment, and acupuncture, into the evolving cannabis landscape.

The Global Wellness Institute defines wellness as “a modern word with ancient roots, and it is the active pursuit of activities, choices, and lifestyles that lead to a state of holistic health.”

Perhaps cannabis is infused in practice or treatment. Perhaps it is integrated regardless of when the specific practice or treatment occurs, and rather is part of an overall wellness regimen or program.

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And maybe there is no infusion, but a focus on education around cannabis. Perhaps as a caregiver, family member or friend, there is a genuine desire and commitment to learn more about the many benefits cannabis can offer to those in need – medically, physically and/or spiritually.

This change in the legal environment along with this curiosity in the wellness community has changed the landscape. There is an opportunity for companies and entrepreneurs to navigate this rapidly changing industry and work to create a range of wellness spaces that incorporate the types of treatments and modalities discussed above involving cannabis products, use and/or education integrate.

The window of opportunity has opened, most recently on the East Coast, as states continue to legalize adult use and roll out regulations. Now is the time to authentically shift into this space, either as an existing company looking to restructure and reinvent itself, or as a new company looking to pursue cannabis/wellness opportunities from the ground up.

Photo by Zoltan Tasi via Unsplash

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The following are some of the considerations to keep in mind when considering opening or adding a cannabis and/or wellness business, whether it be a fitness facility, yoga studio, or an “all-encompassing” wellness center:

• Company structure and business plan
• Incorporation documents for the company and its founders, investors and employees
• Agreements between the company and its customers, including cannabis-specific provisions
• Disclaimers, privacy policies, disclaimers, and the like
• Assessing potential liability concerns associated with owning and operating a wellness and/or cannabis related business and determining best practices and strategies to mitigate risk
• Ensure proper state licensing for all cannabis-related activities
• Determine what type(s) of insurance is required for you and the business
• Social Media Management

While combining cannabis and wellness is certainly not a new concept, what is new is building and sustaining the types of businesses discussed above as cannabis legalization continues to sweep the country from state to state (and hopefully eventually to the federal level). We stand on the precipice of transformation in the wellness space, where operators have an opportunity to take their business to the next level through the potential incorporation of cannabis into their operations.

Would you like to find out more? For further discussion and assistance, please contact Melissa Greenberg, Esq. (Attorney and Regulatory Advisor, in addition to being a certified yoga teacher) at Feldman Legal Advisors PLLC and Skip Intro Advisors LLC.