Do you know how to apply for an adult use cannabis license in Missouri? Not many do. That’s why the Missouri cannabis business consultants at Quantum 9 are here to help you succeed. Although the application has not been published yet, it’s wise to prepare as early as possible. In this article, we will dive into nine actionable steps you can take to successfully apply for and win an adult-use cannabis business license in Missouri.
Missouri Cannabis Business Consultants – How to Win a License
Laws & Regulations
To gain a competitive edge while forming your Missouri adult use cannabis license application, it’s crucial that you understand the laws and regulations. That said, we recommend you read the following:
- Cannabis Regulation
- How to Apply – Facility Information
- Adult Use Frequently Asked Questions
- Amendment 3
- Adult-Use Timeline
- Emergency Rules 19 – CSR 100 filed 1.20.2023
Moreover, you should know that the Missouri Department of Health and Senior Services (MDHSS) oversees the administration, cannabis program, along with approval of all cannabis business applications. Therefore, your application needs to prove to the MDHSS that you have what it takes to maintain the compliance of a safe and secure cannabis business.
Missouri Cannabis License Applications Schedule
Additionally, the Missouri Department of Health & Senior Services published the adult-use timeline for 2023-2025. That said, the following dates list when the Department will begin accepting applications:
- February 6, 2023: acceptance of personal cultivation applications
- September 4, 2023 – October 4, 2023: acceptance of microbusiness applications (1st round)
- June 2024: acceptance of microbusiness applications (2nd round)
- March 2025: acceptance of microbusiness applications (3rd round)
Adult-Use Cannabis Business Application Types in Missouri
Now that you’re aware of important dates regarding the adult-use cannabis applications in Missouri, below are the licenses the Act will cover:
- Cultivation Facility
- Microbusiness Facility
Requirements to Apply
Once you’ve determined your proposed license type, there are various requirements to successfully submit your application. For instance, you must provide adequate proof and documentation of liquid capital. As reference, we listed the amounts that were considered satisfactory to the Department of Health & Senior Services in Missouri for the previous medical marijuana licensing rounds:
- Cultivation Facility Applicants: $300,000
- Dispensary Applicants: $150,000
- Infused Product Manufacturing Facility Applicants: $150,000
- Transportation Applicants: $150,000
- Testing Applicants: $200,000
Furthermore, other requirements to apply are proof of liability insurance, financial plans for the proposed business, the ability to fulfill orders, completion of the seed to Sale application, and much more.
How to Apply for and Win a Missouri Cannabis Business License
Now that you have a newfound understanding of applying for an adult-use cannabis license in Missouri, let’s explore nine steps you can take to secure your chances of approval.
Step 1: Get to know the rules and regulation to win a cannabis business license in Missouri
As stated above, the first step to winning an adult-use cannabis license in Missouri is to read the rules and regulations. Ultimately, this ensures that you’re up to speed on all of the information necessary to submit a competitive application.
Step 2: Reach out to the Missouri cannabis business consultants at Quantum 9
Secondly, we recommend you contact a Quantum 9 cannabis consultant in Missouri to maximize the success of your adult-use cannabis license application. Quantum 9 has decades of expertise in local laws, operating procedure development, compliance, and so much more. Our Missouri cannabis business consultants can manage your application from start to finish as well as write your business plan, supplier agreements, and security plans.
Step 3: Register a business entity for your adult-use cannabis license in Missouri
Next, you will need to form a business entity for your adult-use cannabis application in Missouri. We find that most marijuana applicants form LLCs or corporations for their applications. That said, consult with your attorney to decide what entity is best for your business.
Step 4: Build a team of cannabis experts to list on your adult-use marijuana license in Missouri
By now, you should have a great understanding of the rules, contacted a marijuana consultant from Quantum 9, and considered a business entity that’s right for you. Next, it’s time to recruit a team of cannabis experts. In short, the team that you list on your application plays a major role in the success and overall score of your application. However, if you need help building a team of cutting edge experts, Quantum 9 offers more than just licensing application services but also team recruitment services and business planning services. Reach out today for a free consultation.
Step 5: Create a business plan for your adult-use cannabis license in Missouri
Equally important, work with our Missouri cannabis consultants to create a solid business plan. Your business plan can be used as an outline to attract cannabis expert team members, accumulate local support, and raise capital. This brings us to step 6.
Step 6: Raise capital for your adult use cannabis license in Missouri
Raising capital is an essential step for anyone starting their own business. However, applying for a cannabis business takes raising capital a step further. This is because starting and maintaining a cannabis business can easily surpass tens of millions of dollars. From building out infrastructure, purchasing equipment, and legal costs, having adequate funding helps you cover initial expenses and provide cash flow for months after the business opens. Moreover, this allows you to invest in marketing, hire employees, purchase equipment and supplies, and more. Additionally, investors can provide valuable connections, advice, and resources that can prove useful in getting your business off the ground.
Step 7: Identify a location for your Missouri marijuana business
Now that you’ve considered how capital-intense applying for an adult-use cannabis license in Missouri can be, it’s time to choose a location to list on your application. You must determine a location for your cannabis business that fulfills both state laws and local ordinances. Additionally, you need to demonstrate how the property will be under your complete control if approved with a license; all while remaining compliant with applicable zoning regulations.
After you’ve determined your ideal location for your adult-use cannabis license in Missouri, it’s time to gain local support.
Step 8: Garner local support
Elevate your license application by leveraging the power of local influence. Put simply, municipal-backed applicants have a higher chance of success and winning a license over those who have not accumulated local support. That said, make sure you look for partnerships with relevant organizations in your area. It’s also wise to secure letters of support to achieve license approval.
Step 9: Write & submit your Missouri cannabis business application
Finally, it’s time to write your adult-use cannabis license application. The application requires hundreds of hours of technical and legal writing. However, with the right approach and the help of the Missouri cannabis consultants from Quantum 9, it can be completed efficiently.
That said, outlining a comprehensive plan for success is essential to get any cannabis business off the ground. From financing and security measures, to tracking inventory from seed-to-sale and assessing community impact, Quantum 9 ensures that your application exceeds all requirements, maintains compliance, and is highly competitive.
For those looking to open a cannabis business in Missouri, the competition is fierce. For example, you are competing against multi-state operators as well as cannabis and legal experts who are constantly vying for limited licensing opportunities. The last thing you want to do is compromise your chance of winning an adult-use cannabis license in Missouri. Therefore, save yourself time and money, and reach out to the cannabis consultants at Quantum 9 for a free consultation.