How Far Has Maryland’s Marijuana Industry Come Since It Started

When it comes to medical marijuana in Maryland, the legislature is still quite young. Maryland allowed medical cannabis dispensaries to open for the first time in 2014. To be selected to get a license, the applicants had to prove without a doubt that they were the best choices for the new rolls. They received over 1000 applications. There were 102 licenses possible. Each person submitted the first stage application fee of $6,000.

The competition was stiff to get these businesses off the ground and the process is still arduous several years later as only 132 were approved. The licenses were awarded for people to be able to dispense, grow and process any medical marijuana that would be on their property. Those are three different licenses and some people were applying for more than one so they had additional paperwork and funds to submit. Many of the people were and are wanting to get into the Maryland Medical Marijuana business because there are 22000 people hold medical marijuana cards right and the sale of marijuana products is projected to reach 46 million by 2021 with recreational sales expected to reach 610 million with help of Veriheal.

To obtain a license to open a dispensary in Maryland pre-approval is needed. Once that has been received from the state, the second phase begins. The applicants need to produce an audited financial statement showing that they have the funds to operate a small business, but also to prove the applicants themselves are capable of running the business. They also have to pay the application fee of $4000 per applicant. A dispensary agent, paperwork for personal identification, fingerprints and a criminal background check are also requirements at this stage to the preliminaries of financial stability and quality of character established.

The paperwork must also show the location of the proposed dispensary and prove compliance with zoning rights and other legal rules previously agreed upon. Along with the application fee, there is also the bi-annual licensing fee for growing medical marijuana of $250,000 and the bi-annual licensing fee for dispensing medical marijuana of $80,000.

The fees associated with opening a dispensary in Maryland are enough to discourage only the ablest participants. If the applicants are able to meet all the prerequisites for open an establishment then there is no real timeline to how long it takes to officially start the dispensary. All applicants are encouraged to raise capital for potential construction of their facilities, installation of equipment and planning the hiring and training of any new employees.

The average wait time for most facilities is a year for everything to get your shop open for business if not longer depending on any additional paperwork that may need to be filed. A few handy websites are listed below for speeding up the process of approval:

  • DispensaryPermits.com

This website will help you figure out the correct permit you need for the type of medical marijuana you want to grow, manufacture or sell. It will also help you figure out how much it will cost if you want to get more than one and fill out the paperwork and get all the required approvals for it.

  • Canna Advisors

Thinkcanna is a consulting firm that specializes in helping new marijuana businesses get their business off the ground. They help their clients win the licenses they need to actually have a business and help them design their business from the ground up so no piece of it is missed.

  • Green Rush Consulting

Green Rush Consulting is another business dedicated to helping new marijuana businesses started in the State of Maryland. They have been consulting and assisting new business since 2011 and are proud to say they have worked many new businesses to get their licenses and paperwork taken care of in a timely fashion.

  • GreenZipp

Green zipp has appeared in more than one state that has legalized marijuana. They are a consulting firm ready to help answer customers questions and help them figure out how they can start their own marijuana business or at least give them information about it.

  • Comprehensive Cannabis Consulting

Comprehensive Cannabis Consulting is a firm to not only help you start your business but help it grow. They are long term advisors that help give clients not only the start of their business but help them see where they can take it and make it grow through careful investing and research.

  • Quantum 9 Inc.

Quantum 9 Inc. is a consulting company dedicated to helping new marijuana businesses grow. They are based out of Chicago and are experienced in permits, staffing and training those new employees for work in the marijuana business. They are a people-centered business and that can walk you through this complicated process of starting your own business.

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