I'm planning on moving to Colorado and wanted to know all requirements for opening a dispensary. I recently heard from an UNRELIABLE source. That the market industry and overall gross profit in the weed states, was in the billions, Maybe high millions in bout sure. Anybody clarify?
These are ballpark figures based on recollection from my library of info: Currently the national cannabis industry is ~1.4 - 1.7 billion. The national market is estimated to head towards ~10 billion by 2016/2018. The Colorado market is ~100-200 million with projections upwards of 400-600+ million within the next year. I've seen the numbers but can't recall - in your research you will find estimated yields for both medical and recreational revenue for CO, I believe 400-600 mil is the combined estimate of both but you'll have to verify that. State regulations for medical and recreational. Note that each is ~57 pages long but the language is very similar for. It can actually be tricky to discern what the motivation would be between pursuing medical or recreational sales - most of the requirements are very, very similar. Note that as of now, only medical licensed businesses can apply for recreational sales. But upon receiving rec license, the storefront entrances/exits have to be seperated and so on. There's also vertical integration clauses - disp must grow 70% or + of their own supply. But I came across info stating in CO, come October there will be a true split. Licensed growers and the store fronts can operate independently of eachother. Regulations: http://www.colorado.gov/cs/Satellite/Rev-MMJ/CBON/1251592984795 License/application fees and info: http://www.colorado.gov/cs/Satellite/Rev-MMJ/CBON/1251646523915 Good info and FAQs: http://norml.org/legal/item/colorado-medical-marijuana http://www.thecannabist.co/2013/12/31/colorado-marijuana-guide-64-answers-commonly-asked-questions/1673/ http://www.thcbiz.com/news/company-press/1960-cannabis-industry-creates-rise-in-new-markets.html [SIZE=11pt]http://www.inc.com/guides/201105/how-to-open-a-medical-marijuana-dispensary.html [/SIZE] NOTE: as you already may know, definitely proceed with a "420" lawyer. Also, you'll find within the research certain fun facts like only residents within the state are allowed to operate or INVEST in the business. No out of state backers - this may be important to know before making the jump due to high investment costs for property, license and apps, security systems, etc. ~22 towns that I am aware of have memotoriums or bans on medical/rec businesses. So due dilligence is key. Best of luck!
Yeah, I can confirm that the overall gross profit in the marijuana industry in Colorado is in billions. This the reason why Colorado is one of the best states to start a dispensary. When opening a dispensary, you have to make sure though that you are operating within the law to avoid any possible conflicts with the government.
Why did you have to dig up a year old thread that was nice and dead just to post that trite bit of unhelpfully common sense?
