Marijuana Dispensary Business Plan

Marijuana Dispensary Business Plan-61
In San Diego, for example, compliant properties can’t be within 1,000ft of churches, schools or other compliant properties (some variation of these requirements is common in most cities).

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See, it’s one thing knowing how to open a dispensary; it’s another thing to run one.

Running a retail business isn’t just about having the best product. Here are two things you’ll definitely need to create a smooth customer experience: A Point-of-Sale (POS) system will be one of the most important pickups you make as a dispensary owner.

Nowadays, raising money to open a proper dispensary is a totally above-board process - if you know the right way to go about it. For now at least, the federal illegality of marijuana means banks can’t issue small business loans for dispensaries.

If you’re dead set on opening one, there are a couple of other funding sources you might consider: Angel investors and venture capital firms foot most dispensary startup capital in the US.

Different tax rates apply in each state, but one thing’s for sure: wherever you go, dispensaries pay more taxes than other retail businesses. Well, federal law classifies cannabis as a Schedule 1 narcotic - the most dangerous kind of controlled substance.

Even though public opinion on this is shifting, until the law changes, dispensary owners can’t deduct operating expenses like rent and payroll from their tax bill.

Large dispensary chains, like Curaleaf and Native Roots, owe their fast growth to the backing of a few wealthy individuals. Industry events, like the National Cannabis Summit, are great places to build your network.

Just make sure your business plan is watertight before you take it on Shark Tank.

What do luxury mattresses and marijuana have in common?

They’re both profitable; millennials love them; and they practically sell themselves thanks to a bevy of recreational and health benefits associated with them.


Comments Marijuana Dispensary Business Plan

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