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Do you want to learn how to open an Oklahoma dispensary? Oklahoma has some of the lowest startup costs compared to other states. It's home to one of the fastest-growing markets in the country. Plus, it's one of the easiest places to get a medical dispensary license. Our blog post gives you the right information to start your own business in this thriving market.
Oklahoma Cannabis Laws
Oklahoma legalized medical cannabis use in 2018. The Oklahoma Medical Marijuana Authority (OMMA) runs the program. The program gives doctors the discretion to recommend the drug to a patient. That means that no specific qualifying conditions are required. Patients can either buy weed from a pot shop or grow their own at home. All license applicants will file an application form through the OMMA.
Oklahoma Cannabis Market
Oklahoma's medical cannabis sales tripled to $350 million in 2019. The state experienced a 221 percent growth in that year. During the same year, the state supported 9,412 full-time pot jobs. Sales reached nearly $40 million per month during 2019. Their patient count is so big that one in 13 Oklahomans has a medical card. That's the highest per capita registration in the country. The state leads the country in per capita medical dispensaries.
How to Open a Dispensary
First, you have to create a business plan. You should become familiar with Oklahoma's regulations. Knowing the laws will help you choose the right location for your dispensary. All dispensaries need to be 1,000 feet away from a public or private school. Schools do not include home schools, daycare locations, or childcare facilities.
Business License Requirements
Oklahoma has a few requirements for license holders. All applicants must be 25 years of age or older. Applicants need to have been residents of the state for the last two years. The last two years need to be before the date of application. You may show proof of five continuous years of residency. The five years must be within the last 25 years. At least 75 percent of the owners need to be Oklahoma residents. The state has added stiffer residency requirements over the years.
Applicants need to register to conduct business in the state. You need a tax permit before you apply. You need to show proof of good standing from the Secretary of State. Applicants need to submit a Certificate of Compliance. You can get this certificate from the city or county. All owners and officers need to pass a criminal history background check.
The department restricts certain people from applying for a license. Members of law enforcement such as sheriffs can't apply. Employees of the OMMA can't apply. Employees of the city or county in which the shop is located can't apply. Applicants with a felony conviction in five years can't apply. If you're an inmate, you may not qualify for a license. The law excludes applicants with nonviolent charges in the last two years.
Dispensary Application Fees
Oklahoma's dispensary non-refundable application fee is $2,500. License holders need to renew their license every year for the same price. Online payment methods include credit cards and debit cards. A credit card processing fee may apply. Pot shops may need to get a local permit depending on their location. The cost can vary for these local permits.
If you plan on selling or producing edibles, you will need a food retail license. A food permit application can cost $425. You must pay an additional $425 for a plan review. You need to renew food licenses every year at a cost of $335. You can apply for a food license at food.health.ok.gov. Consider the operating costs of running a pot shop, too. You need to register with the Oklahoma Bureau of Narcotics. Registration is required because the drug is a federally-controlled substance. Registration costs can be between $300-$500.
You can start your license application at the Department of Health's website. There, you can apply for one of many pot business license types. You can choose to apply for a dispensary license or three other types. The other three types are a grower, processor, and transporter license. You need to create a new user account in the system to begin. You'll receive an email to confirm your email address. Log back into the system and choose the commercial license option. There, you can create a new application. The application begins with general information about the weed shop.
You need to disclose information about all owners, members, and board members. Upload all your necessary documents to receive fast approval. Include a map of your proposed location to show you are state compliant. You need to show proof of residency for all owners and members. A review tab is available to help you complete your information. If everything is right, you can submit your application. The department has 90 days to approve or reject applications.
Online Dispensary Training
Are you ready to start your business in the Sooner State? CTU's online training program features a wealth of relevant courses. Our courses cover everything from pot laws to starting a marijuana dispensary. We give you an in-depth look into every aspect of the supply chain. Learn from experts in the field with decades of experience. Sign up for the best cannabis education program today!