As states across America begin to loosen their grip on marijuana and marijuana-related products, many are taking advantage of business opportunities. Less than a month ago, the State of Louisiana began issuing permits to businesses to sell hemp-based CBD products, which means that many business opportunities are now available to those who want to exploit them. Although the law allows businesses to sell hemp-derived CBD products, it limits THC concentration to less than 0.3%. Also, food, beverage, and inhalable products including CBD remain prohibited.
State officials say that they have seen a large number of permit applicants since the bill’s passage into law. If approved, an applicant will receive a temporary permit that is valid until February 2020. A business can only receive a permanent permit after state health inspectors determine that the CBD products in question are in compliance with state law.
Although some people still view CBD oil and its products as being rendered from marijuana therefore only suitable for people who use drugs, this image is quickly changing. Many businesses are incorporating CBD-based products into their business model, which means that entities such as everyday coffee shops may begin carrying these products, thereby furthering their accessibility and diminishing their negative associations. As this continues to occur, Louisiana business owners who are interested in this market will have many options at their disposal.
CBD oil and related products are just a small segment of those goods and services that are in demand in the Baton Rouge area. Merely identifying a hot market is just a tiny step in forming a successful business, though. Choosing a legal structure and engaging in effective business planning takes skill and, oftentimes, experience if one wants to be successful. Legal professionals who are adept in this area of the law stand ready to assist those in need.