How to Start a Marijuana Delivery Service in Vermont:
Vermont has a medical marijuana program in place so that its medical marijuana patients can get the care and medicine they need. Unfortunately, the license application period is closed for now, and the five available licenses have already been given out. Nonetheless, another round of applications is expected in the future, once more medical marijuana patients register.
To prepare for when that time comes, let’s look at the details of how to open a medical marijuana delivery service in the state of Vermont. Legalities and fees need to be understood, plus other resources that will prove useful while applying for a medical marijuana business license.
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When was cannabis made legal in Vermont
Vermont’s first medical marijuana law was passed in 2014. It allowed patients to buy from dispensaries and made it easier to register as a medical marijuana patient, to begin with.
This was not Vermont’s first time engaging in discussion about legalizing medical marijuana. The fight began in 2004 when S76 was passed (An Act Relating to Marijuana Use by Persons with Severe Illness). Multiple attempts were made to legalize medical marijuana in the state, but 2004 was the first time when anything was passed.
In 2016, an unsuccessful attempt at legalizing recreational marijuana was made. Since Vermont does not have voter referenda (the way most states legalize recreational marijuana), it may become the first state to use the legislative process to legalized recreational marijuana.
How many marijuana businesses are there in the state
Currently, five state-licensed dispensaries are allowed, and the state has awarded the appropriate licenses. There are plans for adding one more license if/when the number of patients reaches or surpasses 7,000.
Profits of the cannabis industry in Vermont
The marijuana industry is thriving in Vermont and has 4,500 registered patients (as reported by the Department of Public Safety). Through medical marijuana sales the revenue has reached $7,600,000 in 2016, and by 2021 will likely reach 13,500,000. If recreational marijuana is legalized, total revenue could reach $51,500,000 in 2021.
No medical marijuana business licenses are currently being distributed, and applications are not being accepted at present. Unfortunately, there is no telling when we can expect the next wave of applications to be accepted. There is a good chance the window will open again, however, so it is essential to be prepared with the knowledge of what is required when submitting an application.
The first step is to read the state’s regulations so that you can determine what license and business type make the most sense for your plans. After that, form a business plan to ensure your acceptance into the program. At the moment, only dispensary licenses would be available, but this could change in the future.
A business with a dispensary business license (the only type of license available for medical marijuana businesses within the state of Vermont) can sell, grow, deliver, and manufacture marijuana.
The first thing potential marijuana businesses need to consider is the up-front costs. While some states charge greater amounts, Vermont fees are still not to be taken lightly. Plan to pay around the following, based on current requirements:
- $2,500 application fee (dispensary)
- $50 application fee (registered caregiver)
- $20,000 registration fee (first time)
- $25,000 registration fee (each renewal)
How much does a Vermont marijuana delivery service make?
Marijuana dispensaries and delivery services generally bring anywhere from $50,000 a year up to millions based on location and demand.
Starting any type of business can take some time, and marijuana-related businesses are no exception. The actual time frame can vary greatly; however, it is a good idea to allow at least a year to secure finances, acquire the necessary licenses, and line up suppliers and employees.
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Links to consulting companies that can help open a Vermont marijuana delivery service
Looking to start a marijuana delivery service in Vermont? The consulting firms listed below provide a wide range of services from assisting 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