New York first made cannabis legal in 2014. Licenses to open
dispensaries were handed out the following year. However, most people still
find it difficult to open dispensaries.
In July 2021 the state of New York was now among the legal
adult use cannabis states in the US. This legalization of cannabis in New York
has made many people ask how to open marijuana dispensary in NY.
What Types of Dispensary Licenses are Available in New
York?
Currently, New York only has 36 cannabis dispensaries to
satisfy 20 million residents. These figures will increase as recreational
marijuana becomes legal. Therefore, it’s good to prepare ahead of time.
To open a dispensary in New York, you will need to apply for
adult-Use Microbusiness Licenses. The state will grant these licenses to
authentic cannabis businesses with certain size limits.
Most of the licenses will go to Adult-Use Retail
Dispensaries. It’s still unclear the number of retail licenses that will be
issued.
Another type of license includes an adult-Use On-Site
Consumption Licenses. These licenses permit dispensaries to have areas for
cannabis consumption.
Adult-Use Delivery Licenses will go to individuals with no
intention of having another adult-use license. Therefore, delivery services in
New York won’t fall under dispensaries.
How Do I Apply for a Dispensary License in New York?
Before opening a dispensary in New York, you will need to
apply for licenses. However, the exact rules for applying for an adult-use
dispensary license in New York are unknown.
You can follow the application process for medical cannabis
dispensary licenses. This will give an idea of how to apply for licenses to
operate recreational dispensaries.
To apply for a medical marijuana dispensary license is easy.
Applicant must pay a non-refundable application fee of $10,000 as well as a
refundable $200,000 registration fee.
The process of applying for a cannabis dispensary license in
New York is like that in other states. Several factors increase the chances of
getting a license including the "moral character" of the applicants.
Advice on how to open a cannabis dispensary in New York
The cannabis industry in New York has terrific potential.
According to the New York Times, the adult-use market could bring $4.2 billion
annually. This means that dispensaries will experience huge sales. Therefore,
if you open your cannabis dispensary now, you will have a better chance to
benefit from this green rush.
It’s essential to wait for more developments in the New York
adult-use market. Therefore, we recommend you take the following steps:
Examine the process of applying for dispensary licenses in
other adult-use markets. New York will certainly follow the steps of other
successful states.
Research on the cannabis friendly regions in New York. Keep
in mind that counties and municipalities in New York can vote to ban cannabis
dispensaries.
Bottom line
Opening a cannabis dispensary in New York is more than just
obtaining licenses. Applicants must do research, check the laws. It’s also
important to choose a cannabis friendly location.