What Everybody Ought to Know About Starting a Cannabis Dispensary
Opening a cannabis dispensary is one of the greatest business opportunities of our time. This type of venture has only recently been legalized, and there is already an eager market for the product.
Yet, like all new opportunities, there are problems to be solved before your business can be fruitful. Cannabis faces many legal issues in most states as it is still not fully legalized everywhere in the US. Other issues include finding the right commercial zone and protecting yourself from robberies as well as the social stigma associated with selling an until-recently illegal substance. Finally, there is the skill involved in actually growing marijuana, which is often necessary for a proper cannabis dispensary.
This how-to guide introduces you to the best resources available online. We will help you on your way to creating a booming cannabis dispensary business, and we’ll show you how to overcome all obstacles in your way!
Introducing: The Web’s Best Cannabis Dispensary Resources: The Ultimate List
Now, let’s get down to business, shall we?
Below there are links to each separate chapter of this in-depth guide. If you want to jump to a specific chapter right away, all you have to do is click on the link. You’ll get to your desired chapter without any loading time or hassle.
Give our overview a quick glance, and pick the topic that interests you most to begin with.
Let’s get started!
- Chapter 1: Opportunity – Why Start a Cannabis Dispensary
- Chapter 2: Legal Aspects – How to Find an Attorney & Know the Laws
- Chapter 3: Business Strategy – How to Create a Brilliant Plan
- Chapter 4: Location – How to Choose the Perfect Spot
- Chapter 5: Hiring Staff – How to Find the Top Talent
- Chapter 6: Product – How to Grow Your Own Cannabis
- Chapter 7: Marketing – How to Stand Out in a Competitive Landscape
- Bonus Chapter: Case Studies and Resources – Relatable Success Stories
- Bonus Chapter: Cannabidiol (CBD) – A Thriving Niche
Opportunity – Why Start a Cannabis Dispensary
As one of the fastest growing industries currently in the US, cannabis dispensaries are a perfect opportunity for the savvy businessman or businesswoman.
Cannabis dispensaries offer a rare opportunity; we already knew there was an immense market for the product long before this business was legalized. So we already know that there are tons of people who need or want to buy pure, high-quality cannabis legally.
Another strong point is that cannabis dispensaries are a fresh type of business, which calls for a lot of creative expansion and will certainly open up many profitable niches waiting to be discovered.
Finally, your competition is still on the low end and just as fresh as your own business, which means that there is still an even playing field for ventures in this area.
Now is the perfect time to cut yourself a significant slice of this pie!
Learn more about this fruitful opportunity (and get yourself convinced!) by checking out these links.
- Why Legal Cannabis is 2015’s Best Startup Opportunity | Forbes
- Why I’m Going into the Marijuana Business | Medium
- Why Start a Legal Cannabis Wellness Business | Free Your Mind
- 3 Steps to Success for Cannabusiness Beginners | Leafly
- Investing in People, Ideas and Cannabis | Cashinbis
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 1” in the subject line, and provide your link!
Legal Aspects – How to Find an Attorney and Know the Laws
While selling cannabis is steadily becoming legal in the US, the fact is that, in many states, it is still an illegal business. So, until cannabis is legalized on the federal level, you need to protect your business by hiring a decent attorney to handle the continually changing legislation.
Learn more about the legal status of marijuana! Check out these links.
- State Marijuana Laws Maps | Governing
- List of Latest Laws and News in Your State | GreenZipp
- Legal Information by State & Federal Law | Americans For Safe Access
- State by State Marijuana Laws | The Weed Blog
- 4 Steps to Proper Documentation: A Regulator’s Joy and a Business’s Bane | Cannabis Business Executive
- Your State by State Guide to Marijuana Application and Licensing Fees | Cannabis Business Times
- Qualifying Conditions for Medical Marijuana by State | Leafly
- State Medical Marijuana Laws | NCLS
- How to Hire an Attorney | Helen Sedwick
- Hottest New Job: Pot Lawyer | Citylab
- Marijuana Businesses Need Lawyers, but How do You Build That Practice? | Aba Journal
- Marijuana Lawyers and Legal Resources | Marijuana Business Daily
Business Strategy – How to Create a Brilliant Plan
For a budding cannabis dispensary business, a thorough business strategy might seem like too much to take on, but if you want to dream big, it has to happen!
A proper business strategy entices partners and investors while keeping your company on track towards its own specific goals. Giving other businesses and investors a clear overview of who you are as a company and of what you want to achieve will help you in this expanding new market.
Here are a few links to help you form the perfect business strategy.
- Business Plan: A Step by Step Guide | Entrepreneur
- Writing a Business Plan | Cannabis Business Executive
- The Ideal Cannabis Business Plan | Ganjapreneur
- Want to Start a Medical Marijuana Delivery Service? | The Weed Business
- What is a Medical Marijuana Delivery Service? | The Weed Business
- Why Is Medical Marijuana Delivery Service Better than a Dispensary? | The Dispensary Experts
- What is a Medical Marijuana Collective? | The Weed Business
- Dispensary Start Up Costs Broken Down | The Dispensary Experts
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 3” in the subject line, and provide your link!
Location – How to Choose the Perfect Spot
You can’t just open a cannabis dispensary in any old neighborhood. First of all, you need to find a commercial zone frequented by your target consumers. Second, you need to ensure that the other shops in the area fit the profile of your business. (You don’t want to open your cannabis shop next to a children’s toy store, for instance).
Finally, you have to ensure that the area is safe and sufficiently reputable so your shop remains safe and above suspicion.
Here are some links to help you choose the ideal spot for your business.
- How to Find the Best Location | Entrepreneur
- 6 Steps to Finding Real Estate for Your MMC | Marijuana Business Daily
- Dispensary Security: What You Need to Know | azMarijuana
- Marijuana Business Security Companies | Marijuana Business Daily
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 4” in the subject line, and provide your link!
Hiring Staff – How to Find the Top Talent
In a business like cannabis dispensaries, which come with a certain stigma, it is important to find the ideal type of staff to work with you. You need pleasant, open and charming people educated in the medical and recreational use of marijuana who are willing to answer all your customers’ questions. Each member of your staff should look like a professional and as far distanced from the image of a “junkie” or “pothead” as possible.
Also, you need a stellar accountant who can keep up with all the numbers even as legislation changes, so your business stays afloat no matter what.
Below, we offer you some excellent links on how to hire the perfect staff.
- 16 Jobs in the Marijuana Industry | Cheat Sheet
- 14 Kinds of Jobs Sustained by Marijuana | Alternet
- Employment Law Basics for Marijuana Business | Harris Moure
- Why You Need a Workplace Marijuana Policy | Inc
- For Marijuana Companies, Biggest Security Concerns Comes from the Inside | Marijuana Business Daily
- 8 Common Accounting Problems Cannabis Business Face | Leafly
- Cannabis FAQ for Accountants | CPA Trendlines
- Measuring the Taxable Income of a Marijuana Business | CPA
- Marijuana Business-Related Accounting Services | Marijuana Business Daily
Do you have a great resource link we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 5” in the subject line, and provide your link!
Product – How to Grow Your Own Cannabis
In some states and counties, you are only allowed to sell the cannabis you grow yourself. Even in those areas in which farm purchases are allowed, marketing your own carefully grown and certified cannabis offers your dispensary more prestige and authenticity.
This demands a whole set of important skills that must be learned to properly grow marijuana as fast as possible with the highest-quality yield you can manage.
Here are a few links to help you on your way to becoming a pro cannabis grower.
- How to Grow Legal Cannabis | wikiHow
- The Art, and Science, Behind Growing Medical Marijuana | Boston Globe
- A State-by-State Guide to Cannabis Packaging and Labeling Laws | Leafly
- Medical Marijuana Cultivation Profit and Expense Calculator | The Weed Scene
- What Will You Sell in Your Marijuana Business? Get To Know Your Strains! | The Dispensary Experts
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 6” in the subject line, and provide your link!
Marketing – How to Stand Out in a Competitive Landscape
Creating the right marketing campaign for a cannabis dispensary might seem tricky at first, considering the reputation of marijuana in the US. It is important to stay as far away from the stereotypes of marijuana users (especially in the last few decades) and to focus on a new, pristine image of cannabis as a cure and a relaxing agent in one’s life.
These sources will assist you in creating the perfect marketing campaign for your business.
- How to Market Your Cannabis Business | Leafly
- Marketing Marijuana | Harvard Business School
- 3 Tips to Keep in Mind When Marketing Your Cannabis Business | Leafly
- 6 Tips for Using Email Marketing to Help Your Cannabis Business | Leafly
- How to Turn Negative Feedback into a Win for Your Business | Leafly
- Advertising, PR and Marketing Agencies for Marijuana Business | Marijuana Business Daily
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Chapter 7” in the subject line, and provide your link!
Case Studies and Resources – Relatable Success Stories
Now that you know the steps to creating a great cannabis dispensary business, we offer you a few intriguing case studies from world-class resources for a little bit more information on the field of business you are about to enter – and master.
Check these out for the newest info when it comes to cannabis-related sales, popularity and taxes.
- 9 Blazing Hot Marijuana Startups | Inc
- Cannabis Company Stories | Cannabis Business Executive
- How to Pass Your Cannabis Business Inspection the First Time | Green Space Software
- How to Get Rich in the Medical Marijuana Business | Miami New Times
- Considering Cannabis? | Greenhouse Management
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary Bonus Chapter” in the subject line, and provide your link!
Cannabidiol (CBD) – A Thriving Niche
You should certainly look into selling cannabidiol (CBD) products in your cannabis dispensary. While CBD products don’t contain THC, they have relaxing properties and can help those who want the benefits of marijuana without the side effects.
CBD is legal in all 50 states, which makes it easier to sell and offers your shop an extra niche you can cover to stand out from the crowd.
Here’s some juicy info on CBD, its many uses and fantastic popularity.
- What is the Best CBD Oil Product to Buy? | Healthy Hemp Oil
- Davis Man Focusing on the Cannabidiol Business | the Davis Enterprise
- 8 Things You Should Know about Pot Cannabidiol | Alternet
- Health Benefits of Cannabidiol (CBD) | The Chill Bud
- Harnessing the Hemp Industry: Q&A with Chris Boucher of CannaVest | The Hemp News
- Buy it Now, It’s Legal – Medical Marijuana Cannabidiol | Dr Sircus
- How to Buy Cannabidiol (CBD) | Healthy Hemp Oil
Do you have a great resource we can add to this chapter? Send us an email with “Cannabis Dispensary CBD Chapter” in the subject line, and provide your link!