Do This before Jumping on the Hemp Growing Bandwagon

February 27, 2020 Blog

Suggestions from a Reliable Hemp Growers Insurance Brokerage

The hemp industry was poised to explode with growth when the 2018 Farm Bill was signed into law. It made growing this hardy plant legal. Most of us could not have been prepared for the almost immediate demand vs. supply deficit. Which makes it a perfect time to join in and start profiting from this versatile and extremely in-demand plant. Unlike a lot of other businesses, there are a few more hoops you need to jump through, but when done correctly, you are set to take your piece of the pie. Get the best coverage for your new enterprise by seeking out a brokerage with experience in hemp growers insurance.

The team at the Business Insurance Center stands ready to aid you in getting the best coverage for your plants and your business. We have the knowledge and connections to provide the protection you seek.

5 Steps to Get Started in the Hemp Grower’s Industry

Ready to dive into this booming industry? Here are a few steps to point you in the right direction:

  1. Obtain the proper license: With the legalization of commercial production of industrial hemp comes many legal hoops to navigate. Depending on your state, you may need one of several licenses. Be sure to seek out the aid of your attorney to ensure you have the right ones.
  2. Decide what hemp product you would like to grow: This plant has hundreds of uses, from textiles to paper, plastic to soap, and more. Yes, there is more to hemp than CBD oil. A big part of your decision will be based on the type of buyer you want to work with. If you enter into a production contract, your buyer may dictate what you grow.
  3. Stay on top of the different cultivation techniques: Hemp is a versatile and drought-resistant plant. It does not require much for fertilizers or weed killers. However, you want to make sure your seeds and plants grow strong. Seek out those blogs, farmer’s magazines, and other forums to see what is happening in the cultivation scene.
  4. Figure out whom you want to sell to: Whom do you envision buying your hemp? It may be a manufacturing lab or processing company. Check out social media and build a presence there. There is power and profit in connecting with your ideal customer directly. Social media can help.
  5. Obtain hemp growers insurance: No business enterprise can survive a liability claim unless they have the right coverage in place. Don’t let all your hard work be for nothing the first time you have a client file a claim against you. Obtain the best coverage for your needs with the right hemp growers’ insurance.

Ride the Hemp Industry’s Tidal Wave with Help from the Business Insurance Center

Don’t get left behind in this new and exciting industry. Join other hemp growers and make sure you have the right coverage in place when you talk with a broker from the Business Insurance Center. We can work with you to design coverage to meet the needs of your business. Give us a call and discover the difference we can make for you.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. 

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