Cannabis Consultant Discusses Business Opportunites for Medical Marijuana in West Virginia
Currently, the wait for medical marijuana in West Virginia is quite painful to watch, but how long will this last? Expert marijuana consultant, Michael Mayes, is the CEO and founder of cannabis consulting firm, Quantum 9. Mayes is featured in an online article for the Marijuana Business Daily to review the stance of medical marijuana (MMJ) in West Virginia.
West Virginia is experiencing a prolonged journey toward access to medical dispensaries. According to state officials, there are not enough banking services to support the state’s medical marijuana program. In this article, the Marijuana Business Daily claims how WV could be the “slowest state in the country to allow MMJ companies to open for business”.
Furthermore, the state limits business licenses for medical cannabis locations in addition to its ban on smokable flower and edibles. As stated by the Marijuana Business Factbook, these types of restrictions “will likely keep patient counts from reaching their full potential”. For this reason, it is imperative that organizations remain proactive, resourceful and innovative.
Despite the current uncertainties regarding MMJ in West Virginia, Mayes discusses business opportunities for cannabis entrepreneurs. Against the current momentum, he and the team at Quantum 9 continue to work hard toward access to medical cannabis in West Virginia.
Business Opportunities for Medical Marijuana in West Virginia Remain Promising
Although the state expects delays while launching medical marijuana, Mayes confirms that there are still ways to prepare. For example, the expert cannabis consultant advises clients to “avoid recurring expenses”.
Examples of recurring expenses can include the following:
- Government relations
- Rent
- Utilities
- Equipment
With this in mind, Mayes notes that these types of “month-over-month costs could sink a great company before they start”. Therefore, steering clear from big financial commitments is crucial while considering the current market.
Additionally, our cannabis consultants will work closely with WV clients to take into account sales forecasts, business plans, and projected financial statements. Mayes finds value in anticipating the “what-if” scenarios in order to accurately predict the market’s potential.
Although the wait for medical marijuana in West Virginia continues, business opportunities within the market remain solid.
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Hello I would like to know a little more about opening a medical marijuana dispensary or delivery service in WV. I am currently and have always been a WV resident in residing in Lewis County, central WV. I am a married 28 year old father of two who has survived two open heart surgeries, a kidney transplant due to failure and am a self employed business owner with over ten years of retail experience! I have first hand knowledge of just how detrimental to our health not having medical cannabis can be to patients in need, their families, and their loved ones. So much so that I am making it my mission to make sure that future patients and caregivers do not have to stress about finding their medicine somewhere out of state or worse searching the dangerous black market and potential harm finding them. I have read a few things on the WV Office for Medical Cannabis website and I know I fit all criteria of the licensing requirements set forth. I have figured out that the dispensary must be 51% owned by a WV resident and have only run into only two criteria that I need a little bit of help with and that is initial capital investment funds or trying to find a business partner that would be intreated in the other 49% along with me and assist in daily regulation awareness and compliance as well as license acquisition assistance. Please help if you can in finding assistance for me or if you could point me toward the direction of somebody that could possibly be of assistance. Thank you for your time and all you’ve done in the industry.
Best regards,
Sean Francis