Missouri Medical Marijuana and Adult-Use Market
Start Preparation for Missouri Adult-Use Licenses Now
With the passage of adult-use cannabis in Missouri in the November 2022 election, those seeking to win an adult-use license should start planning now. The biggest opportunity in Missouri is in the new microbusiness license category which will award a minimum of 144 new licenses.
Lean On Proven Cannabis Consulting Expertise
Our team of Missouri license application consultants can help you prepare now to submit your best license application.
Our solid track record of cannabis consulting work in Missouri began with winning a record number of licenses for clients in the the first round of medical marijuana licenses in the 2019 license application cycle.
Contact our team of experts to start your business planning & financial modeling now and position yourself to win an adult-use license in Missouri.
How to Apply for a Missouri Cannabis License
Uncertain Application Instructions
As with many states at this stage in the licensing timeline, Missouri's application process is extremely fluid and can change overnight. Exact details on how to apply are sketchy at best.
While that does offer some flexibility in timing, it can also be detrimental to those who wait too long to build out the foundation of their business plan.
Many times, legislatures and planning bodies are not always in line with prospective entrepreneurs, assuming applicants are "ready to go" whenever an official process is communicated. This behavior is painful for those spending every waking moment looking for go/no-go signals and instructions from the state.
We Are Your Application Communication Team
Thankfully, you don't have to spend everyday checking the news or looking for application instruction updates. By working with our team of Missouri cannabis consultants, you're signing up for a communication channel to keep you moving as developments occur and ensure you don't miss a step in what can be an incredibly complex application process.
What is the Adult Use License and Roll Out Timeline in Missouri?
With the structure of Amendment 3, current medical marijuana license holders in Missouri could apply for a conversion license for adult use operation.
With 97% of the state dispensaries applying for conversion to a comprehensive license, the Missouri adult-use cannabis market is on track for a quick roll out – only about three months since voter approval in November 2022.
The new microbusiness license type includes requirements that stretch the award of a minimum of 144 new micro licenses in waves well into 2026.
One third of these micro licenses must be issued in a lottery by October 3, 2024. The final third, however, cannot be issued until 548 days after regulators begin issuing the first batch of micro licenses. This timeline extends into late 2026 for all microbusiness license awards.
Missouri Cannabis Market Conditions
Missouri voters passed Amendment 3 with a 53% "yes" vote, which came four years after medical marijuana was approved in the state.
Conversion and Microbusiness License Approvals
The amendments went into effect on December 8, 2022, with initial conversion license approvals required by early February 2023 making existing medical license holders the first to get adult-use (recreational) licenses.
While the original number of Missouri cannabis licenses has remained flat since the implementation of medical marijuana in the state, Amendment 3 did include a provision for 144 microbusiness licenses.
The new microbusiness licenses will be awarded to cannabis license applicants who meet financial or location criteria or come from families or communities that have been historically impacted by marijuana prohibition.
Adult-Use Projections and Local Regulations in Missouri
Projections for adult-use marijuana sales in Missouri start at $550 million for the first year and up to potentially increase to $900 million in four years.
Under Amendment 3, municipalities can ban retail operations only through a ballot measure, which must gain 60% approval. With 53% approval of the Amendment, local level support will be a key element to success for dispensary operators.
A smarter, more strategic approach to Missouri cannabis business licenses
Lean on our proven expertise and unparalleled track record to successfully secure your Missouri cannabis license.