Florida Medical Marijuana Market
Apply For New 2023 Florida Medical Marijuana Licenses
Florida just announced application dates. It’s a quick and short window. April 24-28. Work with our winning team now.
The Original Cannabis Consulting Experts in Florida
The Canna Advisors team has been active in Florida since the early days of the cannabis industry development. We have been writing business plans for clients in Florida even before the ballot initiative in 2016.
As industry advocates and leaders, Canna Advisors Founding Partners Diane and Jay Czarkowski were key fundraisers in the medical marijuana ballot initiative and have been recognized for their contribution to the successful initiative.
Evolving License Opportunities
Florida’s Republican governor, Ron DeSantis, has been lukewarm in his statements about marijuana, but he is likely to shift course from former governor Rick Scott’s obstructionist policies and may direct the Department of Health (DOH) to begin accepting licenses for more medical marijuana businesses soon. The current rules governing the medical marijuana program are the subject of numerous lawsuits, and will almost certainly change prior to the DOH beginning acceptance of new applications.
Future Cannabis Business Owners: Act Now
Savvy and well-capitalized entrepreneurs interested in pursuing a medical marijuana license in Florida should already be securing property, developing their facility design, raising capital, winning local approval, and recruiting key team members.
How to Apply for a Florida Cannabis License
Cannabis Business Guidance in Florida
As a medical-use state, the enormous opportunity in Florida is driven by its large scale and tempered by a complex and challenging environment for business operators. The market is highly competitive and comes with high barriers to entry. In addition to being merit-based, the restrictive licensing requirements include posting a $5 million bond and regulations require vertical integration. New businesses will need significant investment capital to develop and implement a vertically-integrated operation.
A Deeply Complex State Cannabis Market
Our Florida cannabis consultants have scoured the application detail for insights and developed a guide for considerations and steps to take now.
Top 5 Considerations for Pending Florida Cannabis Applications:
- Format & Styling
- Existing & Future Finances
- Operational Facility
- Team & Staffing
- Equipment & Process
Format & Styling
Format Will Require Application Expertise
Page limits are exceptionally restrictive so need to be efficient and persuasive in writing style.Templates are not ideal for these types of questions since the application needs to be heavily personalized.
Existing & Future Finances
Financial Barriers to Entry
Funding is always an important aspect of applying for a cannabis license and is especially important in the current competitive climate for capital and in Florida’s well-funded market. The application fee and license renewal fees in Florida are relatively steep compared to many markets, so those applying for a cannabis licensing in Florida will need to have substantial funding.
Lock Down Your Cannabis Business Facility
Identify and solidify your specific property where you will operate your cannabis business in Florida. Providing a facility address on your application will get you ahead.
Team & Staffing
Build a Team of Cannabis Experts Now
Based on Florida cannabis regulations and requirements, the Medical Director role is crucial. This person will need to have cannabis-specific experience of some kind. Find your person for the role before the application window opens.
Additionally, the team needs to have cannabis experience throughout the vertical operation, as well as experience in security and other related and highly regulated industries.
Equipment & Process
Define Your Processes & Vendors Now
The Florida license application requires specifics for all equipment that will be used throughout the vertical. Define your processes and related equipment needs and so start lining up your vendors now.
Let's Jump Start Your Florida Application Process Now
You don't need to wait to start planning for a cannabis license in florida.
Contact our team and be ready when the new round of license applications are released.
Cannabis Market Conditions in Florida
The medical marijuana ballot initiative was highly successful, with a record-setting 71% approval. While rules and licensing structures are still being refined, the current view is that access will be strictly limited by low qualifying conditions. With no standard or statewide regulations, each licensee operates under a different set of rules, which increases the risk and complexity of compliance. A business can lose its license if found to be conducting business outside the rules laid out in their individual application.
With a high percentage of residents that are aged 65+ and affluent, the untapped market is expected to show high demand and drive growth.
One market dynamic of note is the increasing demand and decreasing stigma of cannabis as this demographic’s experience with cannabis grows, either directly or through friends. With all factors considered, Florida is likely to become the largest medical-only market in the country.
Investors and business owners will need expert guidance and detailed attention to navigate the barriers to entry and merit-based qualifications. Equally important in the vertical integration model is developing the right spend on facility design, developing all parts of the supply chain, and connecting to capital and investors. Important across the board is navigating the risks of non-standard and application-specific regulations. Canna Advisors is equipped to handle all of these factors and guide you through each step of planning and mitigating risks.
Florida Cannabis Industry Projections
Registered medical marijuana patients (2019)
Compounded annual growth rate
Source: "The State of Legal Marijuana Markets" by Arcview Market Research/ BDS Analytics, 7th Edition.
Start Applying For Florida Medical Marijuana Business Licenses
Lean on our proven expertise and unparalleled track record to successfully secure your cannabis license.