By 2020, legalized cannabis will be worth as much as $10.2 billion. That’s an impressive number — and one that most entrepreneurs are not willing to ignore. Opening a dispensary can be a profitable venture, especially if potential business owners are willing to put in the work. Here are a few things you’ll need to think about.
There Are Some Legal Hurdles
When opening a cannabis dispensary, obtaining a marijuana business license is a critical step. Starting up a dispensary and stocking it may also require a few applications fees as well as a background check. To make sure that you have all of your ducks in a row — or, in other words, to make sure that you open a dispensary and stay in business — it can be a worthwhile venture to hire a team of cannabis consultants. Marijuana consultants can do much more than helping entrepreneurs retrieve a business license for selling marijuana; marijuana growing consultants, for example, can also make certain that business owners legally and safely stock their product.
Keep An Open Mind
Marijuana dispensaries are cropping up Colorado — and, soon, there may be several legal dispensaries in other states as well. And that means there is a lot of opportunity there. Despite what some think, cannabis is no longer quite a contentious legal issue, either. At least half (52%) believe cannabis is legal, and 69% believe that it is less harmful than alcohol.
Even if views are generally more accepting, however, consumers views and personal opinions remain divided. While some may seek out dispensaries for cannabis’ medical properties and/or anti-anxiety properties, others may view it as a treat for social gatherings. Whatever the case may be, owners should remain open-minded at all times. Let customers start the conversation, and tailor conversations to meet their specific needs and views whenever possible.
Cannabis will,be a profitable venture for the foreseeable future. If you plan on opening a dispensary, talk to a professional about obtaining a marijuana business license and