Florida is soon to re-open for cannabis retail licenses in the near future
CannDev In Florida
We are currently working in Florida to identify and secure compliant retail locations in the cities with the most opportunity for strong revenues. We are currently focused on the following cities:
- St. Petersburg
- West Palm Beach
- Ft. Lauderdale
- Ft Meyers
Florida is technically a closed market and only current state MMTC license holders have the ability to open up retail stores. Because of this there is a big opportunity to get new locations open in underserved areas.
We are open to working with current MMTC license holders (22 total) or future applicants looking to enter this market.
Please sign up for our Off Market Deals to be included in our alerts.
Cities in Florida can opt in or opt out of cannabis sales. Currently there are over 400 medical dispensaries in Florida, and 123 municipalities have at least 1 dispensary.
Florida's annual medical retail sales in 2020 were approximately $1.2 billion. During 2020 there were 301 dispensaries which means the average store did just under $4M in revenue. This market has big potential for increased revenues when it goes recreational.
Florida is currently not accepting retail applications. However, later this year or early 2023 we are expecting Florida to open again for licensing.
We won't know until later in 2022 what the landscape looks like for how many new licenses Florida will allow for.
Yes. In order to operate a future store one must show the state of Florida they have real estate control in order to be able to go through the process with with regulatory bodies in order to open a store.
Sign up for our
Emerging Markets Newsletter
We’ll keep you up to date on next cities soon to open to Cannabis retail