Do you know what industry generates revenue similar to that of grand casinos? The cannabis industry does. The cannabis industry is expected to generate over $200 billion in revenue over the next decade. Nevada is a great place where prospective facilities manager can distribute medical as well as recreational cannabis. Here are a few important factors that potential cannabis business owners and operators ought to consider when establishing a successful as well as legally sound cannabis dispensary in Nevada.
Disclaimer: Cannabis laws vary from upon state. Although these critical points are essential when choosing to open a dispensary, This article is not legally-binding professional advice. Business owners, investors, and operators must acquire the appropriate legal counsel in the state of Nevada when considering opening a dispensary or obtaining a medical marijuana card.
How to Obtain a License to Sell Cannabis in Nevada
There are a handful of licenses revolving around cannabis in the state of Nevada. Currently, the application season is closed. On average, the state of Nevada rewards 60 licenses per season. These include Cultivation, Transportation, Manufacturing, Testing, and Facilities licenses.
Marijuana Cultivation License
The state of Nevada offers a Marijuana Cultivation License. This type of license allows entities to grow cannabis with an intent to harvest, produce dry, trim, manicure as well as package cannabis in bulk for sale at a wholesale price to cannabis processor license holders as well as additional cannabis producer license holders. Moreover, a Marijuana Cultivation License also allows the production and selling of the following cannabis-related products:
- 1. Cannabis plants, seeds as well as plant matter and culture to other marijuana producer holders
- 2. Immature cannabis plants or clones as well as cannabis seeds to members of a registered cooperating entity, qualifying marijuana patients, or listed cannabis providers;
- 3. Immature cannabis plants or clones, as well as cannabis seeds to licensed cannabis researchers.
Marijuana Manufacturing License
The next type of license prospective business owners may be interested in obtaining in Nevada is the Marijuana Manufacturing License. This type of license allows license holders to process, dry, manicure, label as well as package consumable cannabis, and cannabis concentrates, as well as cannabis-infused products intended for sale at wholesale value to additional marijuana manufacturers as well as marijuana retailers.
Marijuana Transporter License
Another type of license available in Nevada is a unique form of license, known as is the Marijuana Transporter License. This type of license allows individuals to transport exclusively consumable cannabis, and cannabis concentrates, cannabis-infused products, cannabis equipage. One can also sell securable containers to store cannabis within the Nevada state limits to additional license holders.
Marijuana Dispensary and Facilities Licenses
The final types of licenses available in Nevada are quite similar. They are the Marijuana Dispensary License and Marijuana Facilities License. This type of license allows license holders to sell dry cannabis exclusively, cannabis concentrates, and edibles to individuals who possess a Medical Marijuana Card.
Cannabis Purchasing Limits in Nevada
Cannabis laws in Nevada are still in need of advancement. Currently, only individuals who possess a medical marijuana card can purchase cannabis in Nevada. Moreover, cannabis is only decriminalized in specific jurisdictions. The state is likely to expand its decriminalization and even legalization steps in the following legislative season. The current limits outlined by the governing bodies are:
- No more than 2.5 ounces in a 14-day window for medical marijuana patients
- No more than 1 ounce (28 grams) or ⅛ ounce (3.5 grams) of cannabis concentrates per day for recreational cannabis consumers
Most cannabis consumers will agree that that amount is more than enough.
Cannabis Businesses and Advertising
Similar to other substances recognized by the state of Nevada, there are a few restrictions on the types of advertising cannabis businesses are allowed to execute. Cannabis businesses are not allowed to advertise on radio, television, or any other form of medium where ⅓ of the prospective audience is assumed to be under the age of 21 years (i.e., Nickelodeon). Additionally, cannabis businesses are not allowed to sponsor entertainment events even if the majority audience is of the legal age of consumption.
Additional Cannabis Regulatory Information
Getting into the cannabis industry in the state of Nevada is a delicate process and requires a tightrope approach to prevent the revocation of licenses. Be sure to consult with the proper entities when advertising cannabis products.