How To Open a Dispensary
The medical marijuana trade in recent times has become a very profitable and exciting enterprise and many people wonder exactly as to how to open a dispensary. There is a growing acceptance of the use of medical marijuana in society today and this provides many opportunities for business minded people and investors. Some commentators have noted that they expect the market to enjoy an almost 100% growth within the next five years and that many new potential markets will open. It is being called the ‘Green Rush’ by many of these commentators.
In the USA, currently only sixteen states have legalized the use of marijuana in the medical usage sense. These states all have individual laws around the buying and distribution of marijuana. You should definitely research all the laws for a particular state and if you wish to know how to open a dispensary, then you must study these laws in great detail and not find yourself on the wrong side of the law. Our free guide below accessed by entering your email will guide you step by step. It is also recommended that you check with the Department of Health services before considering opening your medical marijuana dispensary.
It should be noted that the sale of marijuana is considered illegal by the federal government. There will be many obstacles and hurdles to overcome if you wish to know how to open a dispensary. There will be compliance, regulatory, marketing and financial issues to take into account. The start-costs to open your dispensary can be quite significant if you also take legal and consulting fees into account. You can easily expect to fork out a decent amount of money just to start the application process.
If you are lucky enough to be granted a license, then carrying out the build-out of the dispensary will be between $10,000 (barebones) to over $100,000. You’ll then of course require the products after the building work is completed. So to give the above advice and information a logical and clear process, we will look at the steps which you need to take if you wish to know how to open your own dispensary.
Apart from getting good legal and consultancy advice which is a key factor in the process, you will need to incorporate so that you have a platform or vehicle in place for conducting your business and activities. The fact is that an individual cannot own a dispensary so you must form a corporation. This cannot be any type of corporation. You actually need to form a nonprofit collective. Your lawyer will be able to help with this.
After this process you will need to find the premises in which to operate from and you will probably need a lease. You must not trade within 1000 feet of a library, school, place of worship or other dispensary. Of course, as touched on before, you will need all the necessary licenses and permits as applicable to the state in which you want to open your dispensary. This can be a long process and again, your lawyer can help you with this.
Once everything is in place, then you can physically open for business. There will then be other considerations such as stock, advertising, security, such as installing CCTV security cameras and membership agreements. If you really want to know how to open a dispensary, then it is essential to carry out research before you start the ball rolling.
If you follow the guidelines and stick to the legal aspects, without deviating from them, you will have a far greater chance of being able to open your own medical marijuana dispensary and enjoy a rewarding business which many people want. You must remember to put your patients first and if you hold this belief, then your business should flourish and stand you in good stead for the future.
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