Social Equity Applicant Mentorship Program Week #1 Notes 1/21/2021
Social Equity Ownership Program: Marijuana Establishment Licensing
MITA-AZ Arizona Social Equity Mentorship Program
Sponsored by Copperstate Farms, Scottsdale Community College, and Weedmaps.com
AZDHS – Marijuana Establishment application Financial requirements
After review of the final rules for Marijuana establishment rules as posted on the AZDHS website we have calculated the Initial Cost of Applying for a Marijuana Establishment License, Early applicant and SEOP, is Approximately $527,950
AZ Marijuana Establishment Licenses – 2021
Total Licenses available for “Early Applicants” – (Approximately 143)
ADHS is required to accept applications for marijuana establishment licenses from early applicants from January 19, 2021, to March 9, 2021. Within 60 days after this period, ADHS needed to begin issuing licenses to qualified early applicants.
CBD statistics by method
According to a SingleCare survey, nearly half of CBD users prefer oils/tinctures, lotions/balms, and gummies. But there’s a growing market for CBD edibles.
CBD statistics by age
CBD user demographics skew young. Of all age groups, Americans age 18-29 are most likely to use CBD consistently, and its popularity decreases with age.
How common is CBD use?
33% of American adults have used CBD once or more. (SingleCare, 2020)
64% of Americans are familiar with CBD and/or CBD products. (Gallup, 2019)
An estimated 64 million Americans have tried CBD in the last 24 months. (Consumer Reports, 2019)
Of those who use CBD, 22% said it helped them supplement or replace prescription or over-the-counter drugs. (Consumer Reports, 2019)
CBD Edibles – The most profitable CBD products
As reported by Kush.com, Edibles are the only sector of the cbd industry that have had an
increase in retail pricing due to scarcity and demand for quality kitchens and producers.
State of the 2020 CBD Market
Cbd is still fairly a new and scarce commodity, but it’s availability is rising.