Establishing a cannabis dispensary in our cabin state was not easyâ€¦ Obtaining sufficient funds, applying for the license and seeing every detail through to opening doors to the business was difficult, and legal compliance for a dispensary is much more complicated than for the average businessâ€¦ The cannabis industry is highly regulated in all states.
It takes a lot of time, effort, paperwork and currency to satisfy the difficult requirements! Remaining legal and compliant at all times and in all ways is a constant struggle, however, the legal cannabis industry can be lovelyly profitable.
There is a significant profit margin, and the majority of dispensaries operate in the black within the first year of operation. The startup costs for a modest-sized dispensary are often upwards of $250,000. The federal banking restrictions due to the criminal classification of cannabis can make it impossible to get a loan. There are still social stigmas that can create a setback attitude within the community. Once the cannabis dispensary is up and running, marketing is key to drawing in customersâ€¦ As a recreational shop, our business is legal for adults 21 years of age and older with valid identification. Along with establishing brand recognition among the local population, I need tourists to visit and buy. The average person uses Google and types in keywords. They might search for a dispensary near their location. They might type in “recreational weed,” “marijuana delivery,” or “legal cannabis for sale.” I need our dispensary to show up on the screen of their smartphone, tablet or PC. It’s essential that our website be easy to navigate, engaging and give all necessary information, but while I suppose a lot about running the dispensary, I am not knowledgeable in digital marketing, web design or SEO campaigns. I’ve hired professionals for this.