The fledgling legal marijuana market is a fast-changing one, with recently enacted laws undergoing an almost continuous process of reevaluation. With the industry still in its relative infancy, it is a challenge for new entrants into the legal marijuana market to come to terms with the continuous state of flux that characterizes an industry that is still subject to growing pains.
This was highlighted in the Washington State Liquor Control Board Workshop held at the WA State Convention Center in October 2013, where the packed crowd of eager applicants for marijuana business license spilled over into a second room. Although the second room wasn’t nearly as full as the first, the fact that the workshop required a second room at all was a clear indicator of the interest generated by the marijuana industry. If there is any doubt about the healthy state of the marijuana industry in Washington, the packed audience at the WSLBC workshop should lay them to rest.
Those who wish to get in on what is shaping up to be the fastest growing industry in the country should get started as soon as possible. There are plenty of things to learn and not a lot of time left to learn them. The workshops held by the WSLCB are a great place to start, and they are essential for anyone who is looking to obtain a marijuana license.
There are a number of important things to remember when applying for a marijuana business license in Washington. The application process will be entirely electronic, and will utilize the DocuSign system. Applicants will have to pay from $15 to $25 every month for signature verification via the system. They may also have to pay additional fees for fingerprinting and background checks performed by the offices of the State of Washington.
License applicants and their spouses will also be subject to financial auditing. The application process will not involve a face-to-face meeting as is standard for other licensing procedures, and the applicant will instead undergo a telephone interview during the process of reviewing the application. Applications will be processed on a first-come, first-served basis, with only completed applications being reviewed by the board in the order in which they are received.
At present, the board only assigns 334 retail licenses, although there are unlimited licenses for those who wish to become growers, grower-processors, and processors until the quota is filled. License applicants will be assigned a representative who will guide applicants through the application process from November 18 to December 17, 2013.
In the flurry of activity leading up to the date, there are already indicators that the industry is headed for a new period of renewed growth. As with any other fledgling industry however, the legal marijuana market is still subject to a few growing pains.
If you would like to know more about the cost of running a legal marijuana business, contact us today for some useful tips and proven solutions!