SPRINGFIELD — “The Forest” medical marijuana dispensary in Springfield could be one of the first in the Miami Valley to begin selling pot for recreational use.
>> Walgreens to shutter underperforming stores
Standard Wellness, which has operated the dispensary since October 2020, is only awaiting state oversight, the dual-use license and one more certificate that gives them the green light for recreational sales.
“Standard Wellness and the other, medical cannabis operators in the state of Ohio are extremely excited to expand our customer offerings,” Michael Wells, Standard Wellness vice president of revenue.
Wells said the company is anticipating getting the license in the next few days.
Once the dual-use license is granted, Standard Wellness then will have to get to work on follow-up submissions to gain a certificate of operation from the state. That certificate will allow the company to begin selling recreational marijuana to people 21 and older.
“Yeah, we think it’s one to two weeks” until the company gets both documents, Wells said.
“It’s pretty ambiguous at the moment. But we’re hoping to hear some announcements before the weekend.”
Expanding into the new recreational market means more revenue, of course, but the question is how much.
“Some companies expect a multiplier of two to three times,” Wells said. “We’re in that, in that range. But I don’t know what to expect, to be honest.”
©2024 Cox Media Group
