Tips for Starting a Cannabis Dispensary.
As of 2017 marijuana dispensaries were serving around 100 customers per day. Considering the industry is expected to expand in future, the best time to get in this industry would be now. The points below can make it much easier when starting a cannabis dispensary.
In June 2013, the governor of Nevada authorized marijuana dispensaries, in 2016 recreational marijuana become legalized. It is expected the sales of marijuana to be at 280,000,000 dollars in the years 2021. In the future it will not be easy to get a license to operate a cannabis dispensary. If you have tips on how to start a cannabis dispensary, it will be easier for you.
The number of dispensaries allowed per county in Nevada depend with the population. The population guidelines are, if the population of a county is more than 700,000 then around 40 dispensaries are allowed. A population below 700,000 buy more than 100000 the allowed number is 10.
It is required you pay a fee, if you want to obtain a cannabis license. The registration fee for a medical cannabis dispensary is $30000 and a renewal fee of $5000. For medical cultivation facility and cannabis products manufacturer a fee of $3000 is required for registration and every time you do the renewal you will be charged $1000. If you need a testing lab, be ready with $5000 for registration and annually $3000 for renewal. Also, there is an excise duty of 2% both for those who sale cannabis and cannabis products.
If you need to acquire a license, it is advisable you get it from the tax department. You want to know more about the requirements for cannabis licensing, read more here.
When it comes to cannabis licenses, they are divided in 5 types, for example the distributor license.
If you have the cultivation facility license, you can grow and cultivate the cannabis.
Then there is the product manufacturing facility, which allows one to manufacture, process and package both cannabis and cannabis products, with this license you cannot sell to consumers but you can distribute to other manufacturing facility and retail stores.
The retail store license is ideal for anyone that wants to buy marijuana from manufacturer and sell to consumers.
For people who want to focus on testing the marijuana products the testing facility license will come in handy.
It is a requirement to have around $250,000 in cash as start up for the business and proof you have a facility to run the business. It is important you show how you will run the dispensary.
Studies have shown people in the marijuana industry make even millions.
Do you know you should be 21 to acquire cannabis products. Knowing the medical conditions for one to purchase medical marijuana is important.