It’s finally happening! Virginia is poised to legalize adult-use cannabis in 2021. Are you planning on applying for a cannabis license? Learn how our Virginia cannabis application writers can help you win a license.
With annual sales expected to surpass $1 billion by the fifth year, our Virginia Cannabis Application Writers are excited to usher in this huge east coast market. Are you interested in becoming a cannabis business owner in Virginia? If so, you’re in the right place because our cannabis application writers can help you. Herein, I’ll provide you with the information you need to win a license.
Last week, Steve Heretick, who represents the Commonwealth’s 79th District, released the bill that will legalize adult-use cannabis in Virginia. Since Gov. Ralph Northam has publicly announced his support of cannabis legalization, it is likely the bill will pass. As stated in the bill, the Virginia Department of Agriculture and Consumer Services will oversee the regulation and licensing of Virginia cannabis businesses.
Virginia Cannabis Market Potential
A study conducted by the Joint Legislative Audit and Review Commission found that an adult-use cannabis market in Virginia could reach $613 million – $1.02 billion in annual sales by the fifth year. Given the proposed 25% marijuana tax rate and the existing 5.3% state sales tax, the state is looking at $184 – 308 million in potential tax revenue. Additionally, the study estimates the adult-use market will create more than 11,000 jobs in the state by the fifth year. For a history of Virginia cannabis legislation, click here.
At this point, you may be wondering how to get involved in this lucrative market? The rest of this article will describe the first steps you need to take to start a cannabis business in Virginia.
Types of Cannabis Licenses Available
First, our Virginia Cannabis Application Writer recommends familiarizing yourself with the types of Virginia cannabis licenses the state will issue. The types of licenses, in short, are as follows:
Below is a short description of each license. If you plan to apply for any of the aforementioned licenses, I encourage you to reach out to learn how our Virginia cannabis consultants can help you obtain a license.
Virginia Cannabis Cultivation License
As implied by the name, a Virginia Cannabis Cultivation License allows you to cultivate, package, and sell cannabis to licensed manufacturers, retailers, and other cultivation facilities. The license also allows you to buy and sell cannabis seeds and plants to and from other cannabis cultivation facilities in Virginia. Additionally, a Virginia cannabis cultivation license permits you to sell immature marijuana plants and seeds to licensed retailers.
Are you interested in starting a cannabis cultivation business in Virginia? If so, click the button below to speak with Quantum 9’s Virginia Cannabis Application Writers to learn how our application writers can help you win a Virginia cannabis license.
Virginia Cannabis Manufacturing License
In contrast to the cultivation license, the Manufacturing license allows you to conduct cannabis extractions and infuse cannabis products. However, a manufacturer cannot cultivate cannabis. Instead, the cannabis flower used as raw materials must be purchased from a licensed cultivator in Virginia.
More specifically, the manufacturing license allows you to produce:
- Vape cartridges;
- and more.
Does the manufacturing license sound appealing to you? If yes, contact our Virginia Cannabis Application Writers now to begin putting together your cannabis application.
Virginia Retail Marijuana Store License
Perhaps of interest to most, the retail marijuana store license allows you to:
- purchase marijuana, immature marijuana plants, and seedlings from a marijuana cultivation facility;
- purchase marijuana and marijuana products from a marijuana manufacturing facility;
- and to sell retail marijuana, retail marijuana products, immature marijuana plants, and seedlings to consumers.
Unfortunately, the following is prohibited for Virginia cannabis retail stores:
- Automated dispensing/vending machine
- Drive-through sales window
- Internet-based sales platform
- Delivery service
- Giving away products for free
While the cannabis retail license may appeal to most, the state has not announced the number of licenses it plans to award. Thus, before you decide to pursue a retail license, we recommend considering the total retail licenses available when forecasting your financials. The competition will surely dictate your financial projections.
Click the button below to speak with our Virginia Cannabis Application Writers:
Our cannabis application writers in Virginia are experts are crafting narratives that will win you a retail license. For instance, we’ve helped clients get licenses for cannabis retail operations in over 20 states including both medical and adult-use markets.
Virginia Marijuana Testing Facility License
Lastly, the fourth type of license that Virginia plans to issue is the Marijuana Testing Facility License. In the case of a Virginia Cannabis Testing License, it permits you to develop, research, and test marijuana, marijuana products, and other substances. Additionally, the cannabis testing license permits you to test cannabis and products for your own facility, from another licensee, or an individual consumer.
Especially important, the licensee must obtain accreditation pursuant to standard ISO/IEC 17025 of the International Organization for Standardization by a third-party accrediting body. Of equal importance, the licensee cannot have any interest (ownership) in a cultivation, manufacturing, or retail operation. Our Virginia Cannabis Application Writer’s opinion is that the last provision helps to avoid fraudulent test results and conflicts of interest.
Conclusions from Virginia Cannabis Application Writer
I hope you found this information useful. Our Virginia Cannabis Application Writers are experts when it comes to cannabis licensing and public policy. Therefore, allow our cannabis application writers to save you time and headaches by managing your application from start to finish. We guarantee you success in winning a license.