Utah CANNABIS CONSULTANTS
Higher Yields Cannabis Consultants offers a full range of cannabis consulting services in the state of Utah Our vertically integrated consulting system offers a path to business success. From startup to scaling and expansion of your cannabis-related business and everything in-between our team of industry experts can help. If you have any questions please contact us online or call (844) HI-YIELD.
THE LATEST NEWS IN CANNABIS OPPORTUNITIES IN Utah
There is no current market for adult-use cannabis in Utah, the medical cannabis market is extremely limited, competitive, and regulated. We anticipate in the future another adult use bill will be introduced as neighboring states gain revenue from cannabis.
THE HISTORY OF CANNABIS IN UTAH
Though recreational use of marijuana remains illegal throughout Utah, no- or low-THC CBD oil is now legal for all, and the medicinal use of marijuana recently became legal for certain conditions.
- 1915: All forms of marijuana banned in Utah
- 2014: Legalization of possession and use of low-THC CBD oil, only for registered patients with intractable epilepsy and a physician’s recommendation
- February 2018: Terminally ill patients granted the “right to try” and grow Medical Marijuana plants
- November 2018: Voters passed Proposition 2, the Utah Medical Cannabis Act. This is seen as the starting point for Utah marijuana laws today.
- December 2018: Legislature passed HB3001, amending the Utah Medical Cannabis Act with more restrictive provisions; low-THC CBD oil legal for all
- 2019: SB 161 modified Utah’s medical cannabis program
- February 28, 2020: SB 121 changed the medical cannabis program to allow flower to be dispensed in child-proof bottles, to allow physicians to recommend marijuana to more patients, and to remove criminal penalties from registered patients with THC in their system
- March 2, 2020: Medical Marijuana sales began in the state, at the only dispensary authorized and operational at the time
- March 24, 2020: HB 425 signed into law, delaying until the end of 2020 the requirement that patients obtain a Medical Cannabis Card
- May 2020: The three open Medical Marijuana dispensaries (or pharmacies) are permitted to dispense through drive-thru windows and home delivery
- By end of 2020: State plans to allow an additional 11 dispensaries to open
Contact Us to discuss cannabis Licensing Opportunities in Utah
MARKET CONDITIONS IN UTAH
The Utah Department of Health tentatively plans on posting the Request for Proposals (RFP) to be the 15th Medical Cannabis Pharmacy in Utah in mid-June 2021. The location of this pharmacy will be Daggett, Duchesne, Uintah, Carbon, Sevier, Emery, Grand, or San Juan County. Utah Code 26-61a-301 (5) states that the department may consider an applicant based on the applicant’s holding of a license to operate a cultivation facility if the applicant demonstrates that a decrease in costs to patients is more likely to result from the applicant’s vertical integration than from a more competitive marketplace. If the department gives this consideration, the department must find multiple other factors, in addition to the existing cultivation license, that support granting the new medical cannabis pharmacy license. The application fee will be $2,500.
While these license numbers demonstrate a highly competitive cannabis market in Utah, the gross revenue also illustrates the potential for success. However, success in such a competitive market cannot occur without a number of factors such as teamwork, market research, hard work, and cannabis industry experts to guide you.
Luckily, Higher Yields Consulting (HYC) is here to help you navigate this terrain. Their large team of cannabis experts from compliance to design, safety and security, design and build, marketing and branding and more can provide the expertise you need to set your cannabis business up for success. HYC will help you eliminate frustrating learning curves that can put a standstill on your achievements. Don’t give your competition an easy victory. With HYC at your side, let your competition worry, not you.
Utah Cannabis Consulting services
At Higher Yields Cannabis Consulting (HYC), our cannabis consultants are here to assist you with planning and building your cannabis business in Utah. Our team of canna advisors are well-versed in local laws on compliance, and we offer services that assist you in building your brand, creating your marketing plan, designing your website and assets, crafting your social media presence, and much more to help your business see success.
Contact us at (844) HI-YIELD to learn how we can assist you.
Address 2590 Walnut St., Denver, CO, 80205