Open a Dispensary in Washington D.C.
Washington, D.C. legalized recreational and medical cannabis in November 2014, becoming the first location in the United States to do so. The cannabis market has become one of the fastest growing industries, and Washington, D.C. stands to benefit greatly from this opportunity. According to the Department of Health Regulation and Licensing Administration, the district has a steady customer base with more than 138,056 registered medical cannabis patients as of March 2016. This creates high levels of demand, and Washington, D.C. is looking at a million-dollar market with buyers spending an average of approximately $1,000 on cannabis annually.
The Industry Offers Diverse Opportunities
Currently, only a handful of major players control the cannabis industry and this creates an opportunity to create a more visible brand presence. The industry is also becoming an attractive opportunity for starting a Washington, D.C. cannabis dispensary owing to the promising revenue, expansion, and product offerings. The rapid expansion of the industry has created opportunities for the development of technologies, products, and services without investing in the actual cultivation or distribution.
Cannabis Licensing Laws in Washington, D.C.
The first attempt to legalize cannabis in Washington, D.C. dates back to 1998, but congressional efforts undermined the process. The bill was later reintroduced in 2010, and without Congress standing in the way, Initiative 71 of Washington, D.C. cannabis laws legalized the cultivation, possession, distribution, and use of cannabis for adults 21 and older. Caregivers, growers, physicians, and cannabis dispensaries in Washington, D.C. can be awarded licenses to grow and sell cannabis, and the program is monitored and regulated by The Department of Health.
While cannabis-related businesses constitute one of the fastest growing industries offering diverse opportunities like no other, it can be quite complex to get started. All the managers and employees have to be licensed, and there are fees regarding each key player in a medical dispensary. Washington, D.C has authorized a very limited number of cultivation centers and dispensaries. In fact, only medical dispensaries have been licensed to cultivate, manufacture, or distribute cannabis products legally. The limits may be pushed as patient need or volume increases. The license application process involves the submission of a complete business and financial plan.
American Cannabis Company, Inc.
Laws and regulations are still fluid, and serious entrepreneurs should consider the help of cannabis consulting companies. At American Cannabis Company, we are committed to helping clients succeed in this industry by avoiding legal and financial pitfalls. The competition is fierce and many businesses have fallen prey to the lengthy application process. We have successfully helped clients across 13 states and we want to see you succeed as well. Please contact us to learn more about how to open a dispensary in Washington, D.C.