Opening a medical marijuana dispensary is indeed a challenge for several businessmen. As a dispensary owner, what challenges were you faced before? And, how did you overcome those challenges? This is will be of great help to those who are planning to open their own.
I do not own a dispensary, but i can assume that this is what you have to deal with. 1. Security. Some dispensary owners literally live or sleep at the dispensary. 2. Laws laws laws. The fear of getting raided by the DEA 3. Getting robbed 4. Getting scammed 5. Unwanted patients.
I don't own one, but I've helped establish ones, and you also need to worry about location, insurance, how/if you're going to accept cards, and if you do, how will you process them, ie most banks and card accepting software (like square) don't want to give you an account for federal reasons. Most take cash only or have a fraudulent account under which they can charge. You need to make sure that you have access to quality material on a consistent basis. You need to make sure you have reliable, knowledgeable staff, how you're going to get your utilities, like internet, handled without everyone knowing about your grow and/or operation, depending on the level of secrecy needed. So many things... Lots of it will depend on where you are setting up, and the laws that you either comply with or break.
State and City laws. Its bad enough having to worry about Feds but the cites can be just as bad if you're not putting money in their pockets too.
I do not own one, but I do have a friend who works at one. Licensing, This depends on which state you live in and weather it is going to be a legal or medical dispensary. Law, or law enforcement Location-,This goes for both the farm and the dispensary. Security, from either thief's or law enforcement Product, making it yourself or getting it from a grower. this isn't something like a restaurant where you can order anything from Sysco Banks, Most banks wont accept accounts for dispensary owners. forcing them to use hand to hand cash transactions. This is also a security problem Competition, Yeah get ready you will get a lot on this one. So on top of all this you should know you need a very large chunk of capital to pull it off. At least if you have to produce it your self. Think about having to have a space for both dispensary and another for a farm. The farm will have to be a pretty large building for Veg, flower, and drying rooms. you also need a space to process the cannabis. you will have to pay for a lot of stuff like equipment, fertilizers, security measures. that's not even mentioning the staff you will have to get. you should also expect to employee specific people who can make edibles and concentrates. but lastly do NOT expect a bank to give you a loan for any of this.
