When people here talk about running a marijuana business, they often think to the illegal side first. It’s true that most people running such a business are doing so against the law, although with recent law changes regarding medicinal marijuana it is now also a booming legal business. You need to come up with a good dispensary business plan. An illegal marijuana business consists of selling marijuana to people who are not medical marijuana patients under California law.
There are a few different ways you can legally run a marijuana business with a good dispensary business plan.
1st, you can get a license to grow for medicinal patients and dispensaries. Most hobbyists find this the most pleasurable way to run a marijuana business, although can be costly to set up.
2nd way is to run your own dispensary. This method you obtain the product from a farmer member of your collective and then supply it to approved patients.
3rd way is to set up a delivery system. You still need to get a license and then only deliver to approved patients. This method has the lowest start-up cost.
Running a marijuana business, in a legal fashion, can be very lucrative and provide a great service to patients who need it. Thus, are you set for the successful business? So, here are some steps that you have to know and do so:
• First and foremost thing you have to know is state and federal laws. The dispensary must just distribute this drug to the patients who have enough of legal documents saying that they are well qualified to possess this drug. You as well have to know requirements how you can become the eligible patient as well as becoming the registered primary caregiver.
• Next thing is structuring your business. By getting familiar with local, state & federal laws you may open the business without even worrying about the legalities.
• Next step is to find the correct location and how much does it cost to open a medical marijuana dispensary. Because location is one important factors, which will make your business boom or lose.
• Finally, get a good dispensary business plan.
Good business plan must include the following:
-Locations, size, hours
-cost per sq. ft.
-lease agreements, CAM’s
-build-out (cabinets, furniture)
-phones/phone systems, alarm systems
(project these costs out for the next 5 yrs)
-employment – salaries
–taxes (accountants, etc.)
–lawyer fees to incorporate
–trademarking your business name
Furthermore, patients these days are informed about the condition & where they would like to get the treatment. However, opening the medical marijuana dispensary isn’t the usual business talk as we are here dealing with the illegal drugs – well not actually in 14 states, which made the use legal for the therapeutic purposes.
If you are looking for help on writing a good dispensary business plan, then go to 420 College;
On APRIL 27th & 28th of 2013, 420 College and attorneys will be hosting a live seminar to go over all aspects of marijuana business operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical marijuana business start-up seminars or one-on-one consultations are perfect to get started!
You get an intense day of advanced information about how to start and operate a medical marijuana patient collective (club or co-operative). This collective can cultivate and handle transactions between patient-members, while providing a community location for club activities, education and out-reach.