Each of the states that have legalized the use of marijuana either for recreational or medical purpose allow only a limited number of dispensary businesses to be set up. Depending on the state you live in, the application process has either opened or will be opened any time soon. The regulations that have been enacted related to the medical marijuana industry have provisions for marijuana cultivators, product manufacturers and dispensaries. During the first phase of the application program, dispensary business license will be issued to processors and growers of marijuana in selected regions.
Obtaining a dispensary business license will require applicants to demonstrate that they are legally and financially in a position to open a legal marijuana business and cater to the needs of marijuana patients. Depending on the type of business applicants are looking to start, the capital requirements will also vary.
In order to obtain a dispensary business license, applicants must provide an affidavit that they have $150,000 in deposit with a financial institution. The actual amount that will be needed to set up a business will be over 2 million which the applicant must have. Initially, the department will issue about 50 permits, but the actual number of permits varies from state to state.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.