Maine Cannabis Market
Adult-Use Cannabis Business Opportunities in Maine
Despite passing adult-use legislation in 2016, Maine’s marijuana market has been slow to launch due to repeated efforts by former Governor Paul LePaige to stall the implementation of the program. Current Governor Janet Mills has taken steps to advance the program and developments are beginning to gain momentum.
The process of obtaining a license to cultivate, manufacture, or dispense cannabis in Maine can be broken down into three major steps:
1. Conditional Licensure
2. Local Authorization
3. Active Licensure
Maine’s licensing application process takes a significant amount of time and resources. To complete the application materials required for Conditional Licensure, entrepreneurs must submit robust, detailed descriptions of their operations to the state for approval.
Canna Advisors has guided many clients through similar multi-step approval processes. Our dedicated team of attorneys, technical writers, and other cannabis subject matter experts can help you develop business plans and financial models, assist with site selection and process development, and create or review narratives for application submission.
Portland is set to release licensing applications for adult-use cannabis businesses. Our team of cannabis experts can write or review your application to ensure you submit successfully.
Contact our expert cannabis consultants today to launch or optimize a cannabis business in Maine.
Expert Cannabis Business Guidance in Maine
With nearly $400M in adult-use sales projected over the next 5 years, now is the time to get into the Maine cannabis market. Many opportunities to enter the market in Maine exist today, as licensing applications for adult-use facilities are on-going and have no deadlines or limits in place.
Entrepreneurs and investors interested in Maine cannabis opportunities should contact us today to start developing business plans with detailed financial models that can be used to secure capital, recruit key executive-level talent, and provide a foundation for your application development. Our team of experts can identify your best entry point, navigate new regulations, and provide specific guidance based on what type of cannabis business you want to start.
Successfully competing in the competitive and highly-regulated Maine cannabis market requires a well-informed and well-calculated strategy. Working with our team of cannabis consultants now can help you navigate the changing Maine marketplace.
Market Conditions in Maine
Strong growth projections for Maine’s marijuana market are tempered by the state’s slow legislative process, heavy business regulations, and local jurisdictions not allowing cannabis businesses. Despite these difficulties, legal marijuana is Maine’s third-largest revenue generator — the state saw over $111M in sales in 2019.
Maine has one of the oldest medical cannabis laws in the country — passed by referendum in 1999 — but the law only allowed doctor recommendations and limited possession, leaving patients without a legal way to obtain their medicine. Ten years later, citizens approved Question 5, which established 8 not-for-profit dispensaries to serve medical patients.
Legislation passed in December 2018 significantly expanded Maine’s medical cannabis program. Doctors are now allowed to prescribe medical cannabis for any condition or ailment, licensed producers can sell wholesale cannabis to dispensaries, and six new medical dispensary licenses were added to serve more than 65,000 registered patients in Maine. These changes to the medical marijuana program continue the expansion of an already successful program.
Stay up-to-date on Cannabis in Maine
Cannabis legalization is changing rapidly. The cannabis consultants at Canna Advisors can help develop your business from the ground up. For the latest news and events in the industry, visit our Blog and News and Events pages, and have a look at some of the following top articles on cannabis in Maine.
A SMARTER, MORE STRATEGIC APPROACH TO MAINE CANNABIS BUSINESS LICENSES
Lean on our proven expertise and unparalleled track record to successfully secure your Maine cannabis license.