Missouri is re-opening
for cannabis retail soon
CannDev in Missouri
Missouri is an exciting cannabis market. In 2023 the state produced about $1.4 billion in retail sales. This means it has the highest sales per capita in the USA at about $225 per person residing in the state.
As of Dec 31, 2023 there were according to Missouri’s DHSS, there are 214 licensed dispensary facilities in Missouri. This means that the average store in Missouri makes about $6.5M per year.
Missouri will open up for the second round of application between April 15-29, 2024 and draw the lottery in June. They will award a total of 48 microbusiness licenses for both retail and wholesale – but only 16 retail licenses will be available.
Four other U.S. states began adult use sales at some point during 2023, with Missouri sales significantly surpassing the other three, which include: Maryland, New York and Connecticut.
Retail outlets near bordering Arkansas, Kansas and Oklahoma are seeing steady growth. Stores are also seeing customers travel from Illinois, where adult-use marijuana has been available since January 2020 but is also taxed more heavily,
Top cities for cannabis retail:
- St. Louis
- Kansas City
- Springfield
- Joplin – Border city
- St. Josephs – Border city
- Columbia
- Saint Peters – Border city
CannDev is actively securing locations in Missouri and plans to provide the required real estate documentation to make life easier for applicants in 2024.
If you’re interested in opening a retail store in Missouri and would like to gain access to our Off Market Deals please sign up here.
CannDev does not have access to an opt in/opt out list currently in Missouri. According to Missouri’s DHSS, there are 214 licensed dispensary facilities in Missouri.
Local jurisdictions would be able to opt out of permitting cannabis microbusinesses or retailers from operating in their area if voters approve the ban at a ballot.
Missouri will accept apps between April 15-29, 2024 electronically and draw the lottery in June.
48 microbusiness licenses will be available for the 2nd round of applications for both retail and wholesale – but only 16 retail licenses will be available.
The first round of microbiz apps in 2023 (MS version of social equity):
- 6 microbusiness licenses for each of the eight Missouri congressional districts: 2 retail, 4 wholesale per district
- Lottery was drawn Aug 28, 2023
- Winners have 2 years to become operational
- 1,601 applications were submitted
2nd round:
- An additional 48 licenses will be issued in 2024, and another 48 in 2025.
Missouri has adopted a lottery system for the selection process.
Applicants interested in applying for a Missouri cannabis license must meet social equity qualifications. Being one of any of the criteria below will allow you to join the Cannabis License Lottery.
- Must have a net worth of less than $250,000
- Have a service-connected disability card
- Be a person who has been, or a person whose parent, guardian or spouse has been arrested for, prosecuted for, or convicted of a non-violent marijuana offense.
- Reside in one of the zip codes classified by the State of Missouri as “disadvantaged areas”
The application process in Missouri involves completing the necessary forms, paying the required fees, and submitting the appropriate documentation. Such as, floor plans of the proposed business
Real estate will not be required to apply for a microbiz/retail license in Missouri.
However, if awarded a license the state is requiring proof of control of real estate within 7 days. Extensions are allowed but up to the discretion of the state. Attorneys and consultants we have spoken with are advising their clients to control real estate through the process in order to avoid issues later.
Additionally, in order to be first to market controlling real estate is really the best way to go.
The application requires site plans and floor plans for the proposed dispensary as well.
In 2023 it was $1,500.
According to the states website: “New Application fees are due at time of application submission.
Applications for cultivation, manufacturing, testing, and dispensary licenses and certifications are currently closed. At such time that new applications are to be accepted for these license and certification types, the Department will post notice on this website and the applicable fee would apply.”
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