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Rhode Island Cannabis Consultants

Rhode Island Cannabis Consultants

Overview of Cannabis in Rhode Island

Rhode Island offers a promising market for cannabis businesses, driven by the state’s legal framework and growing demand for both medical and recreational cannabis. Following the legalization of adult-use cannabis in May 2022, the market is expected to generate significant tax revenue, with projections reaching $16.9 million by 2023 and  $167.6 million by 2025. As the market expands, especially with additional retail licenses, businesses have multiple opportunities to enter the cannabis sector.

Under the Cannabis Act, Rhode Island legalized adult-use cannabis in 2022, authorizing up to 33 retail licenses across six geographic zones. Nine of these licenses were allocated to existing medical marijuana dispensaries (Compassion Centers), leaving 24 new adult-use dispensary licenses to be awarded at a later date. Six of these licenses are reserved for social equity applicants, and another six for worker-owned cooperatives, promoting inclusivity and diversity in the market.

In 2024, the Cannabis Control Commission (CCC) introduced a “vetted lottery” system to allocate the remaining licenses. This system combines eligibility verification with a random selection process to ensure fairness and transparency, avoiding the litigation seen in other states while giving qualified applicants a fair chance to enter Rhode Island’s cannabis market.

As of September 2024, the CCC has not yet awarded the 24 new adult-use dispensary licenses. However, the commission approved the hybrid randomized selection process and is finalizing regulations, including defining criteria for social equity applicants and establishing the application process. While the CCC plans to proceed promptly, no specific timeline for awarding the licenses has been announced.

Entrepreneurs with strong business plans and operational readiness, coupled with a commitment to meeting the state’s equity goals, can capitalize on these opportunities. With Rhode Island’s consumer base expanding and its regulatory framework encouraging participation, now is an ideal time to enter this thriving market.

Growing and making cannabis products are good business opportunities. Licensed businesses can meet the growing demand. The state is also making it easier to get licenses, creating more chances to succeed. 

Rhode Island’s established medical cannabis program offers further opportunities for licensed compassion centers and cultivators to serve a dedicated patient base. This stable foundation ensures the continued success of the medical market, providing long-term business potential.

The state is also committed to social equity, offering special programs that provide financial support, fee exemptions, and technical assistance for applicants from disadvantaged communities. With a favorable regulatory environment and increasing consumer demand, Rhode Island’s cannabis industry presents significant opportunities in retail, cultivation, and manufacturing.

For more information about Rhode Island’s cannabis program, click here.

Rhode Island Cannabis License Types

The Rhode Island Cannabis Act creates a variety of licensing categories, which are provided below.

  • Cannabis Cultivator Licenses
    Rhode Island has implemented a two-year moratorium on issuing new cultivator licenses, effective upon the promulgation of the Commission’s regulations. The Commission plans to assess industry supply and demand data one year after the regulations are in place, with a report due to the Governor and General Assembly. 
  • Cannabis Product Manufacturer Licenses
    These licenses permit businesses to acquire, manufacture, process, package, and deliver cannabis products to other cannabis establishments, not directly to consumers. 
  • Hybrid Cannabis Retailer Licenses
    Hybrid licenses allow establishments to sell both medical and adult-use cannabis products. In Rhode Island, licensed medical cannabis dispensaries, known as Compassion Centers, can apply to sell adult-use cannabis by submitting a conversion plan and paying a fee.
  • Cannabis Retailer Licenses
    These licenses enable businesses to sell cannabis products directly to consumers. Rhode Island has allocated a maximum of 33 retail licenses, distributed across six zones. Nine of these licenses are reserved for existing medical cannabis dispensaries, leaving 24 available for new applicants. Of the 24, six are reserved for social equity applicants and another six for worker-owned cooperatives.
  • Cannabis Testing Laboratory Licenses
    Licensed testing laboratories are authorized to transport, store, possess, and test cannabis products to ensure compliance with regulatory standards. 

After the date of issue, each license is valid for a period of one year, and renewals are granted within a period of thirty days upon receipt of a renewal application and fee from licensees who are in good standing.

Cannaspire Cannabis Consulting Services for Rhode Island

Why Work with a Cannabis Consultant?

Starting a cannabis business involves layers of complexity, from navigating regulatory requirements to establishing operations and brand identity. Partnering with an experienced consultant offers a streamlined approach, minimizing challenges and maximizing opportunities for growth.

Our Services

Cannaspire’s comprehensive consulting services cater to each phase of a cannabis business, designed to support Rhode Island entrepreneurs from start to success:

Cannabis Licensing

We assist with securing the appropriate licenses for your cannabis operation.

Cannabis Business Plans

Custom business plans geared toward investor readiness and operational planning.

Cannabis Business Consulting Calls

Get personalized expert guidance on every aspect of your cannabis business success.

Cannabis Licensing Services

End-to-end support through the licensing process, ensuring compliance and completeness.

Cannabis Security Plans

Our tailored security plans ensure full compliance with Rhode Island's regulatory standards.

Cannabis Operations

Operational strategy support to optimize your business’s workflows and processes.

Operational Readiness

We conduct readiness assessments to ensure smooth operations from day one of opening.

Education and Training

Training programs for staff to ensure adherence to compliance standards.

Cannabis Branding & Marketing

Branding strategies and digital marketing to establish and grow your business’s presence.

Website Design & Development

Professional website design that complies with industry standards and appeals to customers.

Seed to Sale Software Consulting

We assist in implementing and optimizing tracking systems to ensure compliance and operational efficiency.

Cannabis Compliance

Compliance consulting for every stage of business, from launch to daily operations.

Fractional Cannabis Compliance Officer

Access to compliance expertise without the need for full-time hiring.

Compliance and Policy Consulting for State and Local Officials

Advisory for government bodies creating cannabis policies.

GMP, ISO, & Organic Farming Certifications

Guidance on obtaining certifications to build credibility in cultivation practices.

Retainer Services

Ongoing consulting support for continued success and adaptation to industry changes.

Retainer Services

Ongoing consulting support for continued success and adaptation to industry changes.

Why Choose Cannaspire?

Cannaspire’s track record speaks to the value we provide Rhode Island cannabis businesses. Our team of experienced professionals has a history of successful client partnerships, offering guidance, compliance expertise, and a proactive approach to regulatory challenges.

What Our Clients Say About Our Cannabis Consulting Services

Schedule Your Consultation

Ready to turn your cannabis business goals into reality?

Cannaspire is here to provide the support, expertise, and actionable insights you need. Contact us today to schedule a consultation—our team is just a call away. 

Hours
Sunday CLOSED
Monday 8:00 am – 5:00 pm
Tuesday 8:00 am – 5:00 pm
Wednesday 8:00 am – 5:00 pm
Thursday 8:00 am – 5:00 pm
Friday 8:00 am – 5:00 pm
Saturday CLOSED