How Can I Get My Cannabis Medical Card in Maryland
5 Tips On Winning A Medical Cannabis License In Alabama
CEO at Quantum 9, Inc. , a Chicago-based cannabis consulting firm focused on licensing and public policy.
getty
In May 2021, Alabama became the 37th U.S. land to legalize medical marijuana. It will be allowed in the forms of oral tablets or tinctures; gelatinous cubes or lozenges; gels, oils, creams or other topical forms; transdermal patches; liquid or oils for inhalers; or suppositories.
Equally reported by Public Radio WBHM, "The state cannabis committee has until Sept. 1, 2022, to create a system that allows people to utilize for licenses to produce, send and sell the drug. The committee will also be tasked with establishing standards like how the drug should be packaged and labeled; chain of custody requirements; and how the drug can be advertised and marketed by dispensaries."
If you intend to apply for a license in Alabama, strap in considering I'one thousand about to hit yous with some insight after reading the 102 pages of regulations and listening in on the Alabama Medical Cannabis Committee meeting on January. 13. My company has helped clients win competitive licenses in Georgia, Arkansas, Pennsylvania, Illinois and New Jersey, so we take a lot of knowledge and experience in this surface area.
1. Have experience in the country and in commercial horticulture or agronomic production. Nosotros recommend that the majority of the ownership (at least 51%) be endemic by an individual with proof of residency for 15 continuous years preceding the application appointment. In our opinion, the best applications will exist 100% Alabama-owned. These local majority shareholders (for tillage/integrated licenses) besides will need fifteen years of commercial horticulture or agronomic production experience. We as well propose structuring the company as a minority-owned concern; existence a veteran-owned business likewise would exist a home run.
2. Exist able to go to market quickly. The state wants cultivation and integrated businesses to be upward and running within lx days of beingness licensed. This shows me that it's favoring currently operating businesses. A pod approach is ever an option with these short windows. If you lot are not familiar with the term "pod" in this context, information technology's a remanufactured storage-like container that can be deployed and certified speedily to striking the operational deadline.
iii. Make sure you have sufficient capital. Uppercase is always king. The more, the merrier. The state requires a $two million operation bond, $250,000 in liquid assets and proof of majuscule to maintain operations for at least ii years. Based on our market place projections, this could be a $x meg to $20 million project for the integrated licenses. Be prepared to show that you take the funds.
4. Focus on research. Starting on Oct. 1, 2025, 30% of the excess funds in Alabama'due south Medical Cannabis Commission Fund will exist transferred to the Medical Cannabis Enquiry Fund. This tells us that the land of Alabama is heavy into inquiry. We suggest building a inquiry squad, investing profits into research and creating a joint venture with a historically black college that focuses on agricultural research.
5. Support municipalities where y'all hope to operate. The integrated licenses come with five dispensaries, which demand to be located in five divide counties. We suggest helping the municipalities where you hope to operate laissez passer ordinances allowing cannabis businesses to operate at that place. One time an ordinance has been passed, effort to obtain some type of letter of the alphabet of recommendation from the city planner or city administrator. Past proving that your desired operating locations volition comply with municipal code, you will likely score higher in the business planning and facility planning sections of your awarding.
My last piece of advice is to start the application process early. There will no doubt be a lot of competition when it comes to winning a medical cannabis license in Alabama, then if y'all want to get your piece of a marketplace with the potential to be worth $450 1000000 to $545 1000000 in annual sales in iv years, don't wait.
Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Practice I qualify?
Follow me onLinkedIn.Check outmy website.
grantjurnerridich.blogspot.com
Source: https://www.forbes.com/sites/forbesbusinesscouncil/2022/02/17/5-tips-on-winning-a-medical-cannabis-license-in-alabama/
0 Response to "How Can I Get My Cannabis Medical Card in Maryland"
Post a Comment