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Missouri Cannabis Business Consulting
Table of Contents
While the application has yet to be published, there are proactive measures you can undertake to enhance your chances of securing a license. In this article, our team of experienced Missouri cannabis business owners and consultants explores eight practical steps you can take to effectively prepare yourself for obtaining a Missouri microbusiness license.
Before delving into these steps, the initial section of this article provides a comprehensive overview of the adult-use program and outlines the application process.
Missouri Cannabis Business Consultants – How to Win a License
Missouri Cannabis Laws & Regulations
To ensure a strong foundation for your cannabis endeavors in Missouri, our knowledgeable cannabis consultants recommend familiarizing yourself with the laws and regulations governing the cannabis program. It is essential to carefully review the following key documents:
Article XIV, Section 2: Legislation, Regulation, and Taxation
Additionally, it is crucial to stay updated with the latest information provided by the Missouri Department of Health and Senior Services (MDHSS). As the overseeing authority of the cannabis program and the approving body for all cannabis business applications, regularly visiting their website will help you stay informed and abreast of any relevant updates.
Missouri Cannabis Timeline
The application process for a cannabis microbusiness license in Missouri will commence on July 27, 2023. Subsequently, in October 2023, an additional 48 microbusiness licenses will be issued. In the following years, Missouri plans to issue 48 microbusiness licenses in 2024 and another 48 cannabis business license applications in 2025.
Please refer to the timeline below for the schedule of the first round of microbusiness licenses:
Types of Cannabis Licenses in Missouri
In Missouri, the adult-use cannabis program includes the issuance of the following licenses:
1. Microbusiness Dispensary (Retail)
2. Microbusiness Wholesale Facilities (Cultivation and Manufacturing)
It’s important to note that the cannabis microbusiness wholesale license in Missouri has a maximum limit of 250 flowering plants at any given time.
The Department will allocate a total of six (6) microbusiness licenses in each of the eight (8) Missouri congressional districts, as depicted below. Within each district, two (2) licenses will be designated for microbusiness dispensaries, while the remaining four (4) will be cannabis wholesale facilities.
Missouri Cannabis License Eligibility Requirements
To be eligible for a Missouri cannabis microbusiness license, the applying entity must be predominantly owned by individuals who meet at least one of the following eligibility requirements:
Have a net worth of less than $250,000 and an income below two hundred and fifty percent of the federal poverty level.
Possess a valid service-connected disability card issued by the United States Department of Veterans Affairs or its successor agency.
Be an individual who has been arrested for, prosecuted for, or convicted of a non-violent marijuana offense, or have a parent, guardian, or spouse with such a history. However, the offense must not involve provision of marijuana to a minor or driving under the influence of marijuana. The arrest, charge, or conviction must have occurred at least one year prior to the effective date of this section.
Reside in a ZIP code or census tract area meeting one of the following criteria:
Thirty percent or more of the population lives below the federal poverty level.
The rate of unemployment is fifty percent higher than the state average rate of unemployment.
The historic rate of incarceration for marijuana-related offenses is fifty percent higher than the rate for the entire state.
Graduated from an unaccredited school district or lived in a zip code containing an unaccredited school district for three of the past five years.
If you are unsure about your eligibility, please reach out to our Missouri cannabis consulting firm. Our experts can help determine if you meet the requirements for a microbusiness license.
Cannabis License Application Process
The application process for the Missouri microbusiness license involves a random lottery drawing. However, it is crucial to prepare a comprehensive application that meets the requirements for entry into the lottery. To participate in the Missouri microbusiness license lottery, you are required to submit the following:
1. List of all owners associated with the business.
2. Proposed address of the facility where the microbusiness will operate.
3. Detailed blueprints that clearly outline the entire facility, including labeled rooms and areas specifying their purpose, square footage, camera placements, limited access zones, and access permissions.
4. For cultivation facilities, information on the cultivation practices to be employed (indoor, outdoor, or greenhouse) and, if a combination is used, the ratio of cultivation space allocated for each practice.
5. A well-defined plan demonstrating how the applicant intends to serve both the medical and adult-use markets while ensuring an adequate supply of all cannabis products at a reasonable cost to qualifying patients.
6. A comprehensive strategy to promote and facilitate the involvement of individuals from communities disproportionately affected by marijuana prohibition in the regulated recreational marijuana industry.
Additionally, there is an application fee of $1,500 that must be paid.
Please note that adhering to these requirements and submitting a complete and well-prepared application is essential to maximize your chances of being awarded a license.
Guide on How to Win a Missouri Cannabis Microbusiness License
To optimize your prospects of submitting a comprehensive application for a Missouri microbusiness license, let’s delve into eight crucial steps you can undertake now.
Step 1: Familiarize Yourself with Laws and Regulations
As previously mentioned, the initial stride toward acquiring an adult-use cannabis license in Missouri involves thoroughly acquainting yourself with the applicable rules and regulations. This ensures that you possess the necessary knowledge to craft a competitive application.
Should time constraints prevent you from reading extensive volumes of legal documentation, proceed to step 2, which entails collaborating with a trusted Missouri cannabis consultant.
Step 2: Seek the Expertise of a Missouri Cannabis Business Consultant
To enhance the likelihood of success in your microbusiness license application, we highly recommend engaging the services of a reputable cannabis consultant in Missouri. At PsyCann, we boast a proven track record of securing licenses for cannabis operators for over a decade, including medical licenses in Missouri. Our team of experienced Missouri cannabis business consultants is fully equipped to guide you through the entire application process, offering comprehensive support from start to finish, including valuable assistance with real estate considerations.
Step 3: Establish a Registered Business Entity
Subsequently, it is imperative to establish a legally recognized business entity for your adult-use cannabis application in Missouri. While the formation of Limited Liability Companies (LLCs) or corporations proves to be the preferred choice for most medical marijuana applicants, we strongly advise consulting with your attorney to determine the entity structure that best aligns with your specific business requirements.
Step 4: Develop an Effective Business Plan
To secure the necessary funding for your venture, it is essential to craft a comprehensive business plan that effectively communicates your objectives and outlines the potential return on investment for prospective investors. A well-structured business plan not only demonstrates your vision but also highlights the financial viability of your enterprise.
During the license application process, adequate capital is essential to cover expenses such as property acquisition, legal counsel, architectural services, consultancy fees, and more. Furthermore, upon obtaining a microbusiness license, substantial financial resources will be required to successfully launch and operate your business.
Step 5: Secure Funding
As emphasized in the previous step, if you intend to raise capital, our team of Missouri cannabis consultants recommends initiating this process at the earliest opportunity. Partnering with PsyCann will enable you to develop a compelling cannabis business plan that captivates potential investors, setting the stage for successful fundraising endeavors. We possess the expertise to assist you in navigating the intricacies of financial planning and attracting investment for your cannabis venture.
Step 6: Secure a Suitable Location
In order to proceed with your Missouri microbusiness license application, it is crucial to secure a suitable facility. When identifying a location, it is imperative to ensure that the facility adheres to the correct zoning regulations and complies with all state and local requirements governing cannabis businesses.
Furthermore, as previously discussed, Missouri is divided into eight (8) congressional districts, with six (6) microbusiness licenses being issued in each district. It is important to consider this regional allocation when selecting your desired location.
Step 7: Cultivate Local Support
As an integral part of your application, it is necessary to provide evidence demonstrating that your facility is appropriately zoned and fully compliant with local laws and ordinances. Our team of Missouri cannabis consultants highly recommends establishing a collaborative relationship with local government authorities to substantiate your facility’s compliance and gain the necessary support.
By actively engaging with local officials and demonstrating your commitment to operating within the legal framework, you can strengthen your application and enhance the prospects of securing a microbusiness license.
Step 8: Prepare and Submit Your Missouri Cannabis Business Application
At this stage, you will embark on writing your adult-use cannabis license application. It is essential to ensure that your application includes all the necessary components detailed in the Application Process section mentioned earlier. Failure to meet the specified requirements may result in disqualification from the lottery.
Why take chances with an application that may jeopardize your capital investment? Minimize your risk and alleviate stress by partnering with our team of experienced Missouri cannabis consultants. Let PsyCann handle the meticulous preparation of your application, ensuring its completeness and compliance.
With our expertise and attention to detail, you can confidently submit a strong application that maximizes your chances of success in securing a Missouri cannabis business license.
In summary, we highly recommend reaching out to the professional cannabis consultants at PsyCann for invaluable assistance with your Missouri microbusiness license application. By engaging their expertise, you can streamline the process, save valuable time and resources, and position yourself for success in entering the thriving billion-dollar cannabis market at its inception. Don’t miss this opportunity to establish your presence in the cannabis industry, with the support of trusted professionals.