Opportunity Knocks: Missouri Invites Applications for Second Round of Cannabis ‘Microbusiness’ Licenses
The state of Missouri is once again opening its doors to entrepreneurs and small businesses interested in the burgeoning cannabis industry. The state’s Department of Health and Senior Services (DHSS) has announced the second round of applications for cannabis ‘microbusiness’ licenses, providing a unique opportunity for small-scale operators to enter this rapidly growing market.
Understanding the Concept of Cannabis ‘Microbusiness’
A cannabis ‘microbusiness’ is a small-scale, locally owned business that cultivates, processes, and sells cannabis and cannabis-infused products. The concept was introduced to ensure that the benefits of the legal cannabis industry are spread widely, rather than being concentrated in the hands of a few large corporations.
Microbusinesses are typically limited in terms of the amount of cannabis they can cultivate or the number of plants they can grow. In Missouri, for example, a microbusiness can cultivate up to 30 mature plants or process up to 100 pounds of cannabis per month.
The Significance of the Second Round of Applications
The second round of applications for cannabis ‘microbusiness’ licenses in Missouri is a significant development for several reasons. Firstly, it demonstrates the state’s commitment to fostering a diverse and inclusive cannabis industry. Secondly, it provides an opportunity for small businesses and entrepreneurs who missed out on the first round of applications to enter the market.
According to the DHSS, the first round of applications attracted a high level of interest, with over 2,000 applications received for just 348 available licenses. The second round is expected to be equally competitive, with a similar number of licenses up for grabs.
Case Study: Success Stories from the First Round
One of the success stories from the first round of applications is Green Releaf, a microbusiness based in Columbia, Missouri. Green Releaf was awarded a license to cultivate, process, and sell cannabis, and has since become a thriving business with a loyal customer base.
Another success story is Missouri Made Marijuana, a microbusiness based in Kansas City. Despite the challenges of operating during a pandemic, Missouri Made Marijuana has managed to establish a successful operation, with plans to expand in the near future.
Applying for a Cannabis ‘Microbusiness’ License in Missouri
Applying for a cannabis ‘microbusiness’ license in Missouri involves several steps. Applicants must submit a detailed business plan, including information on their proposed operations, security measures, and community engagement strategies. They must also demonstrate compliance with local zoning laws and regulations.
Additionally, applicants must pay a non-refundable application fee of $6,000, plus an annual license fee of $10,000 if their application is successful. The DHSS has stated that it will prioritize applications from businesses that are majority-owned by Missouri residents, as well as those that plan to operate in areas with high rates of unemployment or poverty.
Conclusion
The second round of applications for cannabis ‘microbusiness’ licenses in Missouri represents a significant opportunity for small businesses and entrepreneurs. With the cannabis industry projected to reach $30 billion by 2025, according to New Frontier Data, the potential rewards for successful applicants are substantial.
However, the application process is competitive and rigorous, requiring careful planning and preparation. Those interested in applying should start preparing their applications as soon as possible to maximize their chances of success.
By C.N.W
Keywords: Missouri, cannabis ‘microbusiness’, licenses, applications, DHSS, Green Releaf, Missouri Made Marijuana
Sources:
- Missouri Department of Health and Senior Services (DHSS)
- New Frontier Data
- Green Releaf
- Missouri Made Marijuana
