What are the top five critical things that you must know when opening a dispensary?

Dash Thomas

New Member
Everyone that is interested in starting their own dispensary business, what are the top five critical things that you want to know above else? What are the obstacles besides money that you see on your way of getting this done? Mine are start up costs, either relocating or waiting for my state to pass legislation, how to create the best application that gets approved, understanding the laws in my state (once approved) and how to get loyal patients that come to my dispensary as opposed to the options out there. What are yours? Anything I'm missing?
 
Re: What are the top five critical things that you must know when opening a dispensar

1. Money for startup and location
2. Money for a great legal council (they will help you get approved if they are good)
3. Picking the right location (legal council...again) and having a grow op in a closed loop to work with your dispensary.
4. Keeping track of laws and providing both law enforcement and consumers with information to keep you ahead of the game. For example I know some companies are working towards creating products that will meet and exceed state regulations.
5. Having a good network. It seems like the ones that make it are the ones that are connected with the county, lobbyists, law enforcement, and cannabis associations.

I too have been looking around to see what it takes and this is what I have found. Hopefully some more people post, I find this very interesting.
 
Re: What are the top five critical things that you must know when opening a dispensar

There is a lot left out of this and five questions wont even get you pass the lease part of the deal. First you have location and rent, is the rent fixed or a % of sales as it depends upon the location, it can even be a combo of both. Then Taxes you have to pay the sin tax which the state is going to be sure to get. Then payroll, who, how much and once again taxes state and federal. Then what company with deal with you for payroll and what bank will let you use them as a lot of banks aren't to friendly with this enterprise. The first thing you should do is get a corporate lawyer on retainer, set up your corporation and then you begin to sit down and knock out the legalites of the opening, stocking of your location. Before you sell your first gram you will be out of pocket several thousand dollars for set up and this is before purchasing inventory.
 
Re: What are the top five critical things that you must know when opening a dispensar

It will be determined by the state you are opening in and their laws in relation to medical or recreational marijuana. In california for example you have many restrictions that apply to your location and advertising to name a few.

Your best option is going to resources such as this one here. Even though it is for colorado where you have medical and recreational so you have an idea of the process.

Each state will be unique in its process and fees. Norml has another good source depending on the state your residing in.
 
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