If you’d like to start your own dispensary, you are in the right place! We have detailed the most important things you’ll need to do to set up your legal own dispensary.
Most of The U.S. is now permitting usage of cannabis for both medical and or recreational purposes. This has made local cannabis dispensaries very common. You will find such dispensaries in many states across the United States.
You can now choose franchising to start your own dispensary! It’s a good way to expand your business and build upon a proven business moden & strategy. That being said, let’s check out how to start your cannabis dispensary.
- Sort out the legal aspects
As you already know the cannabis industry is strictly regulated by the state government. There are certain set rules and regulations that need to be followed to own a cannabis dispensary.
First of all, you need to get a license to open up such a dispensary. Unless your license is approved, you cannot proceed. Also, if you have a criminal background, it may be difficult for you to secure a cannabis license, depending on the state.
Secondly, you must decide wether to go it alone as a Mom n’ Pop or to latch onto a proven brand through franchising. A franchise may be able to help you navigate the hurdles of obtaining a dispensary license and aspects of this model may help your chances.
- Get your finances ready
It takes around $220K+ to properly open even a small cannabis dispensary. On top of that dispensaries often face difficulties obtaining financial help due to federal banking restrictions. This is especially true in the case of the legal classification of weed. Latching onto a franchise could certaily help your case when seeking investment.
To run your cannabis business, you will need a good amount of capital. So before you decide to open a cannabis dispensary, you should arrange the required finances. Otherwise, you will be stuck.
- Check your security options
The next important thing is security. As a cannabis dispensary owner, you have security issues to deal with. What we mean is that you must have proper security measures in place to prevent theft or robbery.
To make your cannabis shop secure, you must install the right surveillance system. Not just that, but your location may need physical security in your shop at all times.
- Choose the right spot
You need a proper place to set up your cannabis dispensary. After all, you cannot open up a dispensary anywhere randomly.
Look for a rental property that will be consistent with the current and potential new laws in the future. If you choose the wrong spot, you may not me allowed to optain a license. Choose a compliant property and be honest with your landlord about your plans.
Setting up your cannabis dispensary requires a lot of preparation, consultation and legal assistance. If you thought it was an easy business, you are wrong. However, joining a franchise and following their lead will make it a lot easier.
