How do I start a marijuana dispensary? by @R44D
Answer by Raad Ahmed:
A marijuana dispensary is started like any other business, but with a few additional steps given the product involved. You’ve been given a lot of tips about the basic concepts (such as location, name, making sure your criminal history doesn’t impede, etc.) However, I wanted to focus my answer specifically on the business development side of things.
Step 1: Licensing in Your State
- Research appropriate licenses and requirements based on your state’s laws. States may also have very specific criteria for eligibility based on how long you have resided in your state, your age, your criminal history, etc.
Step 2: Planning
- Just as any other business you need to have clear documentation, processes, and policies in place. You’ll need to establish inventory and security controls, operation agreements, and operating manuals to ensure that your dispensary is operating at it’s absolute best and in the most transparent way.
- A business plan is important, but so is the day-to-day operations. You need to have a solid approach to your planting and harvesting operations as well as the employees who will be charged with those positions. You may be surprised to learn the amount of knowledge you need to actually succeed in this line of business.
- If you wish to attract investors, you will need to have to be as thorough as possible to indicate that your business will likely be a success.
Step 3: Maintenance
- As with any business, you will be required to provide annual reports. You should also ensure that your licenses and permits are updated and properly filed.
can help you get your business going. We can connect you to a seasoned start-up attorney that will help you craft the appropriate documents, create policies, and ensure that your business is operating well from a legal stand point. We’ve helped over 1000 entrepreneurs with their companies, we’d be happy to do the same for you. Check out our website for more information.