Ohio Medical Retail License Lottery Ends Soon!

With only weeks away to apply for the Ohio medical dispensary lottery before the November 18, 2021 deadline, time is absolutely of the essence to get your Ohio license application submitted. With a full 73 provisional medical retail dispensary licenses currently available in Ohio, it will double the overall number of retailers to 130. The last round of medical dispensary applications was awarded in June 2018, and there are no plans outside of the current lottery to expand the number of dispensaries. Ohio's rapidly-growing $400 million medical cannabis industry, where current revenues per medical store are about $10M, will likely allow recreational, adult use sales soon!

Given Ohio's 11.7 million residents, this expansion creates a lucrative opportunity for new and existing business owners, should they win one of the 73 licenses. As of May 27, 2021, Ohio boasts nearly 187,000 licensed medical patients, up from 103,000 in August 2020. For savvy entrepreneurs looking to capitalize in this market, now is the time to get in on the ground floor.  Typically, when cannabis medical markets expand into adult-use programs, those who hold a medical

license are given priority in acquiring initial adult-use licenses. Currently, medical licensees in Ohio are allowed to sell approved cannabis flower with up to 35% THC content, oils, edibles, tinctures, and topicals.

While time is limited, there is still time to apply for the Ohio medical dispensary lottery before November 18, 2021, at 2:00 pm ET by working with a well-respected cannabis consulting firm. Working through strategic partners, many have already secured compliant retail locations, which are required to apply and potentially win a medical dispensary retail licensure through the lottery in Ohio.

Additionally, most consultants have helped win licenses in Ohio in the past and have years of experience completing applications and various application elements required by the State of Ohio, including:

• A compliant property based on local and state requirements
• Trade secret form
• Zoning form
• Tax authorization form
• Release and attestation
• Interior layout and exterior site plans
• Security plan
• Fingerprinting and background checks
• Site-specific construction budgets and schedules in the form of GANTT charts
• Organizational structure charts
• Job descriptions

Given the State of Ohio has instituted a portal submission process, forms and plans required for

the application must be completed as instructed and uploaded by the applicant. Additionally, real estate, narratives, and other elements required take time. Applicants must begin the process as soon as possible, given the limited time to apply. Don't let this opportunity pass you by!