Maine sold over $94,000 worth of marijuana products on its first day of legal sales. Also, retailers report that they made over $250,000 in revenue during their first week of sales. The marijuana market in Maine predicts to make over $252 million within its first two years of sales. With that, everyone wants a license to sell marijuana in Maine.
Our marijuana consultants at Quantum 9 are here to walk you through how you can open up a marijuana business in this new legal state.
History of Marijuana in Maine
First, let’s start with a brief rundown on the timeline of marijuana in Maine. Back in 2016, the people of Maine voted to legalize marijuana. But, the first marijuana dispensaries did not operate until October 9th, 2020. The measure to legalize marijuana was initially vetoed. In 2018, lawmakers in Maine rewrote the measure and created An Act to Implement a Regulatory Structure for Adult Use Marijuana. And that is how Maine became the 8th state to legalize recreational marijuana.
How to Obtain a License to Sell Marijuana in Maine
Some basic qualifications exist in order for you to be able to enter the marijuana business in this state. First, you must be at least 21 years old to obtain a license. Secondly, you can not be convicted of a serious drug offense. With that, if the conviction was for a marijuana-related offense that has now been legalized, you may still qualify. Also, you can not be employed as a state agency with a regulatory role or law enforcement/corrections officer. Lastly, if you have a prior revoked marijuana business license, you will not qualify. You can find more information about basic qualifications here.
Also, you need to submit a specific plan for your marijuana business. This is where a marijuana business consultant becomes a necessity. For these plans, you need to have an operation and cultivation plan. With that, it is essential that you specify plans for building permits, water, electricity, security, and environmental laws. These plans need to be in detail for any consideration from the department.
Lastly, Maine law prohibits marijuana dispensaries to sell recreational and maedical marijuana within the same establishment. This provides an oppurtunity for business owners who do not have prior ownership of a medical marijuana dispensary. For more information on how to open a recreational marijuana dispensary in Maine contact our cannabis consultants at Quantum 9.
Marijuana Licenses in Maine
Maines Department of Administrative and Financial Sevices controls the licensing and regulations for marijuana businesses within the state. The Department of Agriculture, Conservation and Forestry and the Department of Public Safety also make rules in regards to marijuana licensing. These departments determine whether or not you can have a license to sell marijuana in Maine.
With that, four types of marijuana licenses exist within the state. They include:
- Retail marijuana dispensaries
- Cultivation facilities
- Products manufacturers
- Testing laboratories
Make sure to contact a marijuana business consultant to find out what license works best for you.
Tiers for Cultivation Facilities
There are four tiers for cultivation facilities. These tiers determine how much square footage you may have for plant canopies. The higher the tier, the more you can cultivate. Take a look at this graph to see what you are able to cultivate with each tier:
Application Fees for Marijuana Businesses in Maine
The application fees differ based on what marijuana business you want to apply for. These fees range anywhere from a couple of thousands of dollars.
In addition to initial application fees, annual fees also exist. These annual renewal fees range anywhere from $350 to a couple of thousand dollars. So, it all depends on what license you have. For example, if you have a high tier for cultivation you can expect your annual fee to be a lot higher. More information on fees for a license to sell marijuana in Maine can be found in section 3.10 in the act.
Local Control for Marijuana Licenses in Maine
In order to open a marijuana business in Maine, local authorization is required for all marijuana establishments. Also, only some municipalities allow marijuana businesses in their area. Make sure to contact a marijuana business consultant in order to know where you can establish your business.
Where Will Taxes Go?
As we know, marijuana businesses bring in a lot of money. A 10 percent sales tax for marijuana products exist. This is actually a lot lower than taxes for marijuana in other states. Also, an excise tax structure will also exist for marijuana sales. You can find more information about taxes on marijuana here.
What’s Next for Marijuana in Maine?
Currently, marijuana dispensaries in Maine try to keep up with the demand. Every time a new marijuana market opens within a state, a shortage happens. This causes inflated prices for recreational marijuana. An eighth of marijuana flower costs anywhere from $55 to $65. As more growers obtain licenses, the prices go down.
Finally, there is no definite date on when the next licensing round for Maine applications begins. Make sure to contact our cannabis consultants at Quantum 9 for more information on how you can win a cannabis license within this high-demand state. Also, we help save time, money and reduce risks with marijuana applications.
With our services, we do the work for you and make your future marijuana business a success. Click here to contact a cannabis consultant.