Opening a Dispensary in Vermont
Marijuana growth has progressively proven to be a profitable and hot investment opportunity for entrepreneurs and like-minded individuals in Vermont. There were several attempts made to push the legalization of marijuana in Vermont. The first formidable Vermont marijuana law can be traced back to 2004 when the Vermont General Assembly passed the Therapeutic Use of Cannabis Act, which allows individuals suffering from severe and debilitating illnesses to possess, use, and cultivate marijuana on a limited basis. The law was amended in 2014 and removed limits on patients able to shop from dispensaries.
On January 22, 2018, Vermont’s governor privately signed a recreational marijuana bill into law. Expected to take effect on July 1st, the new Vermont marijuana growing laws allow individuals to own 1 ounce of marijuana, four immature and two mature plants. As of this writing, there are five state-licensed dispensaries mandated to disseminate medical marijuana, with a sixth expected to be licensed when the number of registered patients hit 7,000. The state may soon see its medical marijuana dispensary list double thanks to a law that took effect in June 2017. This law is designed to expand Vermont’s small MMJ program by licensing more dispensaries.
Medical Marijuana Market in Vermont
There were 5,579 patients enrolled with the Vermont Marijuana Registry as of March 2018. Since 2016, marijuana sales have skyrocketed and reached 7.6 million dollars with projections expected to rise to 13.5 million by 2021. And with the legalization of marijuana, the sales could soar to as much as $51.5 million by or before that year.
Currently, dispensaries are the only types of marijuana businesses being licensed in Vermont. Licensees can operate two dispensaries under the same permit. It’s advisable to understand state regulations and also curate the marijuana business in line with local laws.
Application fees are as follows:
- $2,500 dispensary application fee
- $50 registered Caregiver Application Fee
Licensing fees include:
- $20,000 Initial Dispensary registration fee
- $25,000 Renewal Dispensary registration fee
American Cannabis Company, Inc.
It can be tough to break into the marijuana dispensing business in Vermont. The number of applications submitted is very high but the chances of winning are very limited. Working with an experienced, top consultant is your best bet if you want to secure a position. At American Cannabis Company, we strive to provide specific advisory and consulting services to our esteemed clients. From putting all your documents and finances together to understanding the requirements and submitting the application papers, we can help you go through the process as efficient and stress-free as can be. Contact us today and learn how we can best serve you.