Rhode Island Cannabis Business Opportunities
Rhode Island to Expand Adult-Use Cannabis Program
Open Applications for New Adult-Use Cannabis Dispensaries
Over two (2) years after legalizing recreational cannabis, Rhode Island is finally preparing to release applications for 24 new adult-use dispensaries across the state. While there are no final regulations yet, the Rhode Island Cannabis Control Commission (CCC) is working diligently to finalize rules regarding the application and licensee selection process.
One thing the CCC has stated, however, is that this will be a qualified cannabis license lottery, meaning that applicants will be “screened” in a merit-based process and then entered into a pool of applicants to be randomly selected for licensure. While there’s no guarantee that a perfect application will get you a license, you’ll need one to ensure you make it into the lottery to begin with.
How To Win A Rhode Island Cannabis License
Though we don’t yet know what will be required on the initial application, we do suspect it will be similar to those we’ve seen in the past that use this lottery system. Applicants will still be required to submit business plans and operational plans as well as financial projections to be considered and you’ll want to get started as soon as possible to be ready for the application window.
Contact our team to see how you can start preparing for the Rhode Island cannabis lottery.
Top Rhode Island Cannabis Consulting Services
Cannabis Business Guidance in Rhode Island
A New Opening For Retail Cannabis in Rhode Island
Since adult-use cannabis has been legalized in Rhode island, only medical operators have had the opportunity to sell recreational product in a hybrid retail facility. However, due to recent developments, these new licenses will be available to non-operators, opening a doorway to those who have been trying to open their Rhode Island cannabis business.
Business Planning Starts Now
Whether you’re looking to start your very first cannabis business or expand into a new state, the planning begins now. From financial models that help you understand exactly what is needed to get your business of the ground to business plans and pitch decks to attract investors, there’s no shortage of work to be done in Rhode Island to ensure you’re prepared when the application window is announced.
Current Cannabis License Opportunities in Rhode Island
Limited Licenses for Qualified Applicants
Only 24 adult-use dispensary (retail) licenses will be available in this round and there’s no telling if or when another round will commence. Applicants will first be screened in order to qualify for the lottery portion. While we can’t predict what exactly will be on the initial application yet, they typically include compliant business and operational plans as well as financial pro forma that proves you are prepared to become operational. After being awarded a license, you’ll then typically have an allotted amount of weeks or months to secure a property, finalize your plans, and open your doors.
Qualified Cannabis Zones
Additionally, the dispensary licenses will be distributed equally across six (6) zones. These zones are:
- Zone 1: Burrillville, Cumberland, Glocester, North Smithfield, Smithfield, and Woonsocket
- Zone 2: Central Falls, Johnston, Lincoln, North Providence, and Providence
- Zone 3: Coventry, Foster, Scituate, West Greenwich, and West Warwick
- Zone 4: Cranston, East Greenwich, North Kingstown, and Warwick
- Zone 5: Charlestown, Exeter, Hopkinton, Narragansett, Richmond, South Kingstown, and Westerly
- Zone 6: Barrington, Bristol, East Providence, Jamestown, Little Compton, Middletown, Newport, New Shoreham, Pawtucket, Portsmouth, Tiverton, and Warren
Social Equity and Workers’ Cooperative Applicants
Of the four (4) cannabis licenses that will be available in each zone, one (1) license will be reserved for social equity applicants and one (1) will be reserved for workers’ cooperative applicants. Though the CCC hasn’t been exactly clear on who will qualify as a social equity applicant, it could depend on a wide variety of factors including where you live, the people you hire, and you or your family’s cannabis arrest history. The current statute allows for individuals who live in a ‘disproportionately impacted area’ can qualify as a cannabis social equity applicant. However, what exact constitutes a ‘disproportionately impacted area’ is still unclear.
Consultants Can Simplify The Process
Lucky for you, Canna Advisors is well versed on untangling regulations and clearing the muddy waters so you’re prepared when the application window is announced. Stay up to date with everything you need by reading our blog and reach out to our team to begin working on your Rhode Island cannabis license application.
The Future of Rhode Island's Cannabis Market
Since launching adult-use sales in 2022, Rhode Island has become a booming market for cannabis entrepreneurs with recreational sales increasing each month. While the medical market remains steady, Rhode Island adult-use cannabis sales was responsible for the $8 million of the $10 million in total cannabis sales in October 2024.
Currently, there are only nine (9) ‘hybrid dispensaries’ in the state of Rhode Island that sell both medical and adult-use cannabis. The 24 new available cannabis dispensary licenses will bolster the market and allow for a fresh batch of innovative and fruitful operators to increase access across the state. There’s no better time than now to begin your cannabis journey in the Ocean State.
Cannabis Licensing Timeline
- May 2022: Governor Dan Mckee signed into law the Rhode Island Cannabis Act, legalizing adult use cannabis
- December 2022: Adult use sales commenced in the state
- September 2024: The Cannabis Control Commission approves process to award 24 new dispensary licenses
Start Your Rhode Island Cannabis Application Today
Let's get started on your preliminary application materials with the Rhode Island cannabis experts at Canna Advisors.