And if you plan on raising funding from investors, you definitely need a business plan. A dispensary application must include a business plan that includes a site and facility plan, business startup plan, description of roles/duties, capital requirements, and business experience ( see page 9 here). In 15 pages or less, it should include your “experience in any type of business environment, establish the business model for the proposed cultivation facility, and demonstrate the ability to operate the proposed facility, which includes steps taken with the local authorities,” according to the cultivator application.
OHIO BUSINESS LICENSE PRICE LICENSE
Yes, a business plan is required to get a medical marijuana business license in Ohio. License fees: It’s $20,000 annually for a testing lab license in Ohio, $70,000 biannually for a dispensary, $100,000 for a processor, $200,000 for a Level 1 cultivator, and $20,000 for a Level 2 cultivator.įinancial requirements: For a provisional processor or dispensary license, you need proof of $250,000 in liquid assets.ĭo you need a cannabis business plan in Ohio? Level 1 cultivator means you have up to 25,000 square feet of canopy Level 2 is up to 3,000 square feet of canopy.
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Local governments may forbid cannabis companies or certain locations, so check city and county regulations.Īpplication fees: Applying for a cannabis business license in Ohio costs $2,000 for a testing lab, $5,000 for a dispensary, $10,000 for a processor, $20,000 for a Level 1 cultivator, and $2,000 for a Level 2 cultivator. You can create a marijuana app, payment processing service, advertising agency, consulting firm, pest management product, accounting firm, automated plant watering system, security service, packaging labeling service, or legal firm-and that’s just the tip of the iceberg! See Ohio testing FAQs here.Īncillary business: If you don’t want to grow, process, test, or sell cannabis in Ohio, there are plenty of other ways to be part of the cannabis industry. These labs use methods like liquid or gas chromatography to analyze products for CBD and THC content, pesticides, terpenes, bacteria, fungi, and heavy metals, to name a few. Testing facility: Consumers and regulators alike demand consistency and quality control in cannabis products, which creates demand for marijuana testing labs. In Ohio, you’re allowed to manufacture marijuana products that don’t require refrigeration or hot-holding.
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Processor: Processors buy cannabis from licensed growers, then process and/or create infused products and sell them to dispensaries. In Ohio, grow operations also are required to follow state-mandated rules, such as seed-to-sale tracking and following Ohio’s approved pesticide list. Marijuana cultivation: These businesses, also called grow operations, grow cannabis plants that will be sold through a dispensary or sold to a processor that will create products with it, such as edibles or oils. Dispensaries have to follow Ohio regulations about labeling, recordkeeping, employee ID cards, location (not within 500 feet of a school, church, or park), signage, hours, security, and more. Ohio issues licenses for four broad categories of cannabis businesses: dispensaries, cultivation facilities (aka grow operations), processors, and testing companies.ĭispensary: This is a retail storefront where patients can purchase marijuana.
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Ohio doesn’t allow smoking medical marijuana-it must be in the form of an oil, pill, edible, patch, tincture, or vape cartridge.Īpproximately 168,000 patients have registered to be part of Ohio’s medical marijuana program, which is expected to create a $350 million in retail sales in 2021. Since HB 523 passed in 2016, Ohio adults can possess a 90-day supply of cannabis if they have a written recommendation from a doctor. Jump to a section by clicking below, or go straight to our sample cannabis business plan.Īre cannabis business plans required in Ohio? Starting a cannabis company in Ohio? We’ve put together a state-specific guide covering everything from available license types to fees, regulations, and what you should include in a Ohio cannabis business plan.