How to open a Dispensary in Connecticut:
Connecticut’s Act Concerning the Palliative Use of Marijuana signed into law in late May 2012. It specified that only licensed pharmacists could operate dispensaries with the requirement that they undergo training on proper handling of controlled substances and have experience in patient counseling regarding drug interactions. So if you’re not a licensed pharmacist, you are out of luck in Connecticut.
The first dispensary licenses were issued by the state in 2014. Among the 27 applicants, a total of six were chosen. Connecticut also licensed four medical marijuana cultivators. Today there are a total of nine dispensaries in the state.
Currently, no new licenses are available. However, as the marijuana program expands, the application process is expected to be open to more applicants sometime soon. Below are the details you’ll need to know to open a marijuana dispensary in Connecticut.
When was cannabis made legal
The first act Concerning the Palliative Use of Marijuana by a limited number of patients was signed into law in late May 2012 by the state of Connecticut. The act required that only licensed pharmacists may operate dispensaries. Qualified professionals were required to have undergone training on proper handling of controlled substances and have experience in patient counseling regarding drug interactions.
The first dispensaries licensed were issued by the state in April 2014. Back then, Connecticut had about 2,000 registered medical patients. Among the 27 applicants, a total of six were chosen (instead of five that was initially intended). Connecticut also licensed four medical marijuana cultivators, instead of the three intended, from a pool of 16 applicants.
In September 2015, by the time the second license application period closed, the patient number more than doubled to 5,357. It had quadrupled to 8,201 by the time winners were announced in January 2016.
How many dispensaries are there in the state
Currently, there are nine dispensaries in the state, monitored by the Connecticut Department of Consumer Protection, Medical Marijuana Program). In May 2016, Connecticut approved the participation of minors in the medical cannabis program, provided it is not administered through smoking or vaporizing.
Since October 1, 2016, the Department of Consumer Protection started accepting applications for cannabis research and will also accept applications for medical marijuana research programs. Also, there is an adult-use bill in the legislature as well.
How much money is there in the dispensary market
In 2016, Medical Sales reached $29,300,000, and they are projected to rise dramatically over the next 4 years. For 2021, projected medical sales are expected to reach $104,900,000. The adult-use bill that is already in the legislature is expected to generate $60,300,000 of revenue by 2021.
License & Financial requirements
Currently, no new licenses are available. However, as the marijuana program expands, the application period is expected to be opened soon.
The fees associated with the opening of a new dispensary are as follows:
- Dispensary Facility License Initial Application Fee: $1,000
- Dispensary License (individual) initial Application Fee: $100
- Dispensary Facility Backer Initial Application Fee: $100
- Dispensary Facility Employee Initial Application Fee: $50
- Dispensary Facility Technician Initial Application Fee: $50
- Dispensary Facility License Registration Fee: $5,000
- Dispensary Facility License Renewal Fee: $5,000
- Dispensary License (individual) Annual Renewal Registration: $100
- Dispensary Facility Backer Annual Registration Renewal Fee: $100
- Dispensary Facility Employee Annual Registration Renewal Fee: $50
- Dispensary Facility Technician Annual Registration Renewal Fee: $50
If you are a pharmacist that is looking to move into the marijuana industry, you can start a dispensary in Connecticut, but you need to allow plenty of time. It can often take one year or more to get finances in order, acquire necessary licenses, and get suppliers and employees lined up.
Links to consulting firms that can help open a Connecticut dispensary
Looking to start a dispensary business in Connecticut? The consulting companies listed below provide a wide range of services from helping with state licensing requirements and applications to running and stocking your business.
- Canna Advisors
- Medicine Man Technologies
- Green Rush Consulting
- Quantum 9 Inc.
- Comprehensive Cannabis Consulting
Marijuana stays in the news, and Alice is always ready to keep us updated. A world traveler and lover of freedom, Alice knows what is going on, no matter where she roams. She specializes in marijuana legalization stories across the globe, with up to date... [read more]