How to open a Dispensary in Montana:
The initial medical cannabis law that was voted on in Montana 13 years ago did not have provisions for a medical dispensary system. However, that changed recently, and a new Senate bill was passed, opening the Montana medical marijuana market for prospective business owners.
Retail businesses will be licensed as Marijuana Infused Products Providers (or MIPPs). The license application window is open now, and the state has not set a deadline as of yet. Let’s take a look at the requirements for starting a marijuana dispensary in Montana.
When was cannabis made legal
Voters in Montana overwhelmingly passed Initiative 148 legalizing medical marijuana bill November of 2004 with a 62% to 38% vote. This annulled criminal prosecution for medical cannabis authorized by physicians. Ownership of up to six cannabis plants is permitted for home grows as the law does not take into account for a state-regulated dispensary system.
Under the new Senate Bill 033 directions that were signed by the governor, as of May of 2017, Montana will be open for medical cannabis businesses. The regulations of this measure have provisions for medical cannabis dispensaries and testing facilities.
How many dispensaries are there currently in the state
There is no limit to the marijuana business licenses allowed in the state, and there are no licenses issued as of yet. However, old dispensaries were allowed to reopen via court order. There are over 100 caretakers with less than 3 patients still currently ‘dispensing’ in Montana. According to Montana’s medical marijuana registry, as of February 2017 over 500 providers had at least one patient whom they were providing medical marijuana.
How much money is there in the dispensary market
Medical sales for 2016 have reached $19,600,000, while profits are expected to rise to $58,000,000 by 2021. In other words, even before most dispensaries and other retail businesses have been established, the industry is thriving and will only get stronger.
License and Financial Requirements
In order to be considered for a marijuana business license in Montana, you must be able to prove that you are a state resident and you must undergo a fingerprint background check.
Providers with a limited amount of patients will not pay as much as larger ones. License fees may not exceed $1,000 for 10 or fewer registered cardholders or $5,000 for more than 10 registered cardholders. A provider of both marijuana and marijuana-infused products is required to have only one license. License fees for testing labs may not exceed $1,200.
It shouldn’t take too long to get a Montana marijuana “dispensary” business started, especially since it isn’t like the traditional dispensary. Since most providers work with a limited number of patients, and the fees are not high, you won’t need as much to get started. Allow a few months to complete the process.
Links to consulting companies that can help open a marijuana dispensary in Montana
Looking to start a marijuana dispensary in Montana? These consulting companies help with state licensing requirements and applications. They can also help you find the resources to run and stock 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]