Here’s Your Step-By-Step Guide!
How can you navigate the complexities of Oklahoma’s medical marijuana licensing process? I am Oklahoma medical marijuana business attorney Ope Adegbuyi.
Oklahoma’s medical marijuana industry has exploded in recent years, with over 10% of the state’s population now holding a medical marijuana card. With the licensing demands for medical marijuana, many entrepreneurs are seeking to enter the market and open dispensaries, groves, and processing centers. However, the licensing process for medical marijuana businesses in Oklahoma can be complex and challenging to navigate. So here’s a step-by-step guide to help you navigate Oklahoma’s medical marijuana licensing process.
Number one, determine the type of license you need. Oklahoma Medical Marijuana Authority issues licenses for dispensaries, groves, processors, and transporters. Determine the type of license and the associated requirements and fees.
The second thing would be to create a business plan. Develop a business plan that outlines your operations, financial projections, and marketing strategy. Your business plan should also include details on your team and their experience in the medical marijuana industry.
Number three would be to meet all the requirements. Oklahoma has strict requirements for medical marijuana businesses, including security measures, inventory tracking, packaging, labeling, regulations, and much more. So ensure that your business complies with all of the state requirements.
Number four would be to submit your application. That’s the most essential part. So once you’ve met all the applications, once you met up, sorry, once you met up with all the requirements, then you develop a, and you develop all your application and, you know, collect all the necessary documents. Then you submit your application to the OMMA, which is the Oklahoma Medical Marijuana Authority. The application ranges from $2,500 to now probably up to $50,000 because they have a tiered system. So you know, if you have more than 500 square feet, sorry, 5,000 square feet, then you know, your price for your application will go up to 5,000 and so forth and so on. So you need to be watchful of that and know how much you’ll be paying.
The fifth step would be to wait for the approval. The OMMA would review your application and conduct a background check on all critical individuals associated with your business. The approval process can take up to more than 90 working business days. So you just have to be patient and wait because the typical processing time is 90 working business days. So holidays, weekends, you know, anything that comes up, if they have a, if they close the office, your license would not be getting processed. So you have to minus those days from the application days or the processing days. And then number six would be to obtain your license, of course.
So once your application has been approved, you receive a license from the OMMA and then you can then start, you know, opening your business and doing all the required steps to start the business. However, you cannot legally have marijuana products on your property without an OBN license, which is the Oklahoma Bureau of Narcotics License.
For more information, you can contact me, a marijuana business licensing lawyer in Tulsa, at oklahomamedicalmarijuana.attorney.