Retailers count until legalization in Vermont

It’s been a long time coming, but Vermont is poised to finally enjoy cannabis legalization, and retailers are preparing to join the thriving new industry.

The Cannabis Control Board is preparing to begin issuing licenses starting October 1st, a date fast approaching. With this in mind, companies have been preparing for the big day for months.

Vermont Bud Barn’s Scott Sparks, a retailer targeting an opening in West Brattleboro, Vermont, is preparing and hopeful. He would like to open his shop as soon as legal cannabis is allowed to flourish in the state and plans to become one of the first retailers in the industry.

“Yes, it’s definitely moving forward,” he says of his work so far to prepare and open his doors. “I planned to run it for two weeks. In three days I had over 150 applications.”

Sparks is no stranger to the cannabis world. He has been in the CBD market for years and is now preparing to enter the legal cannabis market if all goes well. His retail license is reviewed by Vermont’s Cannabis Control Board, and he’s even begun interviewing hopeful candidates for dispensary work.

While he had no trouble arranging interviews and hooking interested employees, he unsurprisingly had trouble with banking. For now, he’s opted to partner with a virtual bank if he can open, as local banks have stopped working with cannabis customers. VSECU, the bank he hoped to work with, said it would not take on any future cannabis businesses.

“Even though I did all the paperwork on time and have a long-term relationship, I wasn’t allowed to open an account,” says Sparks of his banking challenges.

In the meantime, he’s focused on building his business and installing a vault and security system, as well as meeting with farmers and growers.

“A lot of the — I call them top-notch growers — have actually reached out to us because they want to be a part of my ongoing brand down here and have a presence in southern Vermont,” he says of the people he’s trying to work with.

And others in the area, even outside of the cannabis industry, are equally excited about the opportunities they hope to see.

“I’m looking forward to this part of West Brattleboro,” says Larisa Volkaeichyute, owner of an art gallery in the same building where Vermont Bud Barn plans to open and showcase the work of other artists.”

Once cannabis licenses have been approved by the Cannabis Control Board, retailers can start selling cannabis. So interested retailers are gearing up and preparing to sell as soon as they are able. Officials so far say they are on track to meet the October 1 deadline.

“The day I get to turn the key on that door is going to be one of the best days of my life,” Sparks says of his hopes for the future. “Just very exciting to finally get to this point after all these years.”

In the case of Sparks, he plans to have the product available and for sale within four days of receiving his license. As long as the process continues to go smoothly, Vermont can expect many recreational businesses to follow suit and the local industry to explode.