Despite being one of the first U.S. states to decriminalize weed in the 70’s, Ohio still has not legalized recreational cannabis, but their medical marijuana sales are soaring. Statista forecasts that the market will reach roughly $1.3 billion in 2025. With almost 12 million residents, a limited licensing structure, and current efforts for recreational legalization, it is evident that this state will be prime to start a cannabis business.
Advancing the Cannabis Industry
Seeing Ohio’s potential, The Cannabis Business Advisors recently secured preliminary dispensary licenses for local groups in the state. Back in May, the State of Ohio Board of Pharmacy issued 70 provisional dispensary licenses as the second phase of the RFA II process. Earlier this year, the Ohio Lottery Commission drew from over 1,400 applications across 31 districts to create an ordered list of ranked Ohio preliminary licenses. These were then reviewed by rank to determine eligibility for issuing.
Based in Phoenix, Arizona, The Cannabis Business Advisors (“CB Advisors”) is a multi-faceted consulting firm providing strategic business guidance for cannabis license applicants and current license holders throughout all stages of growth. The consulting team brings more than twenty years of combined industry experience, spanning across the U.S. and around the globe.
“The next step for winners is to launch their dispensary operation on schedule,” Sara Gullickson, founder and CEO at The Cannabis Business Advisors, said in a press release sent to Leaf Retailer. “We are providing our clients with custom grand opening services as well as branding, marketing, SOPs, interior guidance, floor planning, and procurement strategies.”
Creating More Business Opportunities
Currently, Ohio has 58 licensed dispensaries and 36 cultivations with medical marijuana dispensaries, which is expected to more than double by the end of this year. The Ohio Board of Pharmacy has allotted 270 days for provisional licenses to become operational, which ends in February 2023. New dispensaries will only be able to open if they receive their certificate of operation from the Board of Pharmacy following inspections.
“We have built great relationships with our Ohio groups and are working closely with them during this post-license phase to actualize their dispensary operation,” Maxime Kot, president at The Cannabis Business Advisors, said in the press release.
For Ohio license holders who may need additional support for certain operational aspects, you can check out Leaf Retailer’s “How to Open a Cannabis Dispensary.” This informational how-to offers a variety of tips and tricks for opening your very own dispensary in all of the legal states, including Ohio.