Opening a cannabis dispensary in 2022 is not as easy as it seems. It requires a lot of knowledge and understanding about the cannabis industry.
In this article, we have compiled a short checklist of do’s and don’ts for anyone who is looking to open a cannabis dispensary in 2020s.
Note that this guide is written by a cannabis consultant in Ontario, Canada. This guide provides general information only and is not intended to be legal advice. In order to open a dispensary in 2022, you will need to have:(a) access to capital, (b) a clean background, and (c) a suitable location you can use to sell your authorized cannabis products from. Be prepared to provide disclosure about your personal background – or the background of any person or entity that has “an interest” in your application.
DO – Prepare your capital
You will need to ensure you have a solid amount of capital in order to open a cannabis dispensary. If you are in Ontario, I tell clients that at the very least they should have access to at least $150,000 CAD in capital or else it may not be possible to pay for all the expenses you will incur.
DO – Obtain the services of a cannabis consultant
An experienced cannabis consultant can go a long way. When the cannabis consultant is also a practicing lawyer, they can provide legal advice.
DON’T – lie, misstate, or omit any information from the disclosures that you are required to disclose to the regulator. If the regulator finds you have done so, it can be grounds to not issue a license or suspend a license already
DON’T – Feel afraid to reach out to the regulator if you have any questions or if you are seeking a status update on your file.
These are just some of the things you should think about when deciding to open a cannabis dispensary in Ontario. When in doubt, you should obtain the services of a consultant or cannabis lawyer.
Harrison Jordan practices Canadian cannabis & psychedelics law, with an emphasis on retail cannabis regulatory & compliance matters.