If you’re a cannabis operator who envisions selling their business one day, there are steps you can take now to improve and preserve your business’s value. We highly suggest that you implement strict record-keeping and documentation for all aspects of your business. The more documents that you must back up what you are claiming to be true, the stronger the case you must ask for a price premium. The documentation you should maintain includes financial reporting documents, contracts with suppliers and buyers, granular POS data, fixed asset registers, inventory reports and more. Before you make an M&A offer, assemble a team to come and review the cannabis company you are seeking to purchase on your behalf (if you aren’t performing the due diligence yourself). Typically, this team is composed of lawyers, CPAs, operations engineers, and any other experts who can help you draw insights about the state of the company you’re purchasing.