HuffPo | Once a business proposition that required little more than a few
thousand dollars and some gardening equipment, selling medical marijuana
is quickly becoming a dream fit only for deep-pocketed entrepreneurs.
Regulations in states that only recently legalized medical marijuana
are mandating that would-be dispensary operators set aside large amounts
of cash before even applying for a license, tipping the scales in favor
of businesspeople with money to burn. Drawn-out licensing processes
being devised in those states mean permits to run dispensaries will
likely only go to those able to afford a cadre of consultants and
lawyers.
Five years ago, Ean Seeb helped open Colorado dispensary Denver
Relief with “four thousand dollars and half a pound of cannabis.”
“I don’t think that would ever happen again,” said Seeb, who now
works as a dispensary consultant. “Somebody who just has a good idea but
little capital would find it difficult to impossible to go into the
business today.”
Seeb said he is counseling clients in Massachusetts, where only 35 dispensary licenses will be granted starting later this year,
to set aside at least $2 million before even considering going into the
medical marijuana industry. Not only are state fees related to the
permitting process likely to total over $100,000 for many dispensaries,
but the merit-based process for obtaining a license is also expected to
privilege those who can demonstrate they have excess cash to secure an
abundant supply of cannabis. Fist tap Arnach.
