Montana voters approved two ballot initiatives this year that legalized recreational, adult-use marijuana.
Initiative 190 allows the sale and possession of marijuana for adult use, while Constitutional Initiative 118 sets the legal age of marijuana consumption to 21 years and older.
The Montana Department of Revenue will adopt rules to regulate and license cultivation, manufacture, transport, and sale of marijuana in the state and will begin accepting marijuana provider and dispensary license applications by October 1, 2021.
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What can you do right now?
You need to be well-prepared for when the state will begin accepting licensing applications, which is scheduled to happen by October 1, 2021.
While that looks like you’ve got plenty of time to get everything together, know that we typically work with clients anywhere from 1 to 2 years ahead of a licensing period because there is so much to do and prepare for when licenses become available.
Below is a quick list of the bigger things you should start working on right away if you’re actually serious about starting a recreational marijuana business in Montana.
1. Learn everything you need to know, do, and prepare.
Now is when you need to know what to do, what to expect, and how much it’s going to cost in order to get ahead of your competition. You can spend the next 6 months reading through all the legal documents and hopefully figure it out perfectly so you can then get started. Or you can save yourself a bunch of time, hassle, and wasted money by letting us show you everything via a Starter Package.
2. Figure out what business type is best.
You should know what type of marijuana business will be a good fit for you, your partners, your budget, and skill set. So many clients start out wanting one business and realize another is actually a better fit for them. Did you know there’s upwards of 10 different types of marijuana businesses available to you? Get this wrong and you may have to start all over from square one.
3. See how much money you need.
Most people completely underestimate how much it costs to actually start a recreational marijuana business. But they also underestimate how much money it can make. The How to Start a Recreational Marijuana Business in Montana package goes over typical budget scenarios for every type of business so you can understand real-world costs for this, including staffing positions and salaries.
4. Find a compliant business location.
Without a location, you won’t be able to have a recreational marijuana business – period. You’ll need this in order to apply for any license – you can’t apply and then find a location. It’s a rookie mistake that will torpedo your chances of success. Start working on this right now because a location is the make-or-break item for so many clients. This is why it’s extensively covered in the Starter Packages. Competition, costs, and everything associated with getting a location are extremely difficult and only get worse and more expensive the closer you get to the licensing period – so do not wait on this!
Get Started In 10 Minutes
You’ll be starting your dream business in under 10 minutes with our easy-to-follow Starter Packages.
Some of the things included:
- Step-by-step instructions.
- How much $$ you need.
- How to be 100% legal.
- How to find a location.
- Funding types available.
- Rookie mistakes to avoid.