Next Steps For Minnesota’s Cannabis License Lottery Winners
75 Licenses Awarded – Four Steps To Take Now
On July 22, the Minnesota Office of Cannabis Management (OCM) held its second licensing lottery this year and awarded 75 retail cannabis licenses to social equity and general applicants. There were 569 applications in this lottery around according to OCM and this lottery was livestreamed on OCM’s YouTube channel. Congratulations to all these winners!
Now, what’s for Minnesota cannabis license winners next? We have the answers!
1) Watch Our Minnesota Cannabis Webinar
Canna Advisors and Blunt Strategies, Minnesota’s first and only full-service strategic consultancy exclusively dedicated to the cannabis industry, recently hosted a webinar detailing how to move from a conditionally-approved cannabis license in Minnesota to a full license. We also answered plenty of questions for those who tuned in about next steps and helpful insight to make your cannabis business a success.
Missed the webinar? No need to worry! We have you covered with a recording of the webinar below:
2) Utilize Our 90-Point Start Right Checklist
So, you’ve won the cannabis license and you’ve watched the Minnesota webinar. Your next step would be to ensure you’re doing everything you can and should be doing to set yourself up not only for financial success, but compliance success as well. Our team at Canna Advisors has designed a 90-point checklist to go over everything you need in order to achieve this.
Covering everything from real estate to accounting to legal requirements to operational best practices, our checklist and Minnesota Start Right Bootcamp helps you ensure you’re doing everything right.
3) Finish Those Final Plans of Record
One of the largest requirements Minnesota cannabis license seekers need to be mindful of are the final plans of record (FPOR). Every business which has been granted preliminary approval needs to complete and upload to their Accela portal the following final plans:
- Site, Security, and Operations
- Inventory Control and Diversion Prevention – Standard Operating Procedure (SOP)
- Quality Assurance – Standard Operating Procedure (SOP)
- Accounting and Tax Compliance – Standard Operating Procedure (SOP)
It’s important to note, however, as OCM has stipulated, do not rush these plans and do not submit them prematurely. Doing so could get your license review sent to the back of the review queue and add even more time waiting to arrange for a cannabis site inspection. Only submit these when you’re fully prepared and ready to launch your cannabis business.
4) Partner With Minnesota Consultants at Canna Advisors
Luckily, our seasoned team of consultants Canna Advisors are here to help with the entire post-win license/business development process. We have extensive cannabis business development experience nationwide and specifically across the Minnesota cannabis market. We can even write everything you need as part of the exhaustive and detailed heavy final plans of record.
Contact our team or book an hourly consultation to see what we can do now that you’re that much closer to getting your Minnesota cannabis business off the ground.