What to know before opening a dispensary

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There are six key points one should learn before getting involved with selling marijuana

Starting any business takes determination and discipline. It also takes a lot of money. If you’re considering getting a start in the cannabis dispensary industry, don’t put your time, resources and finances to waste by not getting a good handle on what’s needed before you get started. There are many facets that need to be accounted for before taking the plunge, but six tips could help make a big difference.

From the start, outline the future. Create a plan of attack that lists every step that is needed. Identify the budget, investigate licensing procedures and locations and track every step of the process to make sure nothing is left out.

Once the outline is created, the next step is to create the vision. The vision is basically the business plan that describes who you are and what the business hopes to accomplish. “Making money” is not an accomplishment. The business vision has to detail what it will be providing specifically, and how and to whom.

Location, location, location – the number one mantra of real estate. This is definitely important with marijuana dispensaries. Different cities have different laws regarding zoning issues and where dispensaries are allowed. Make sure you understand the laws in the area where you want to locate your business, and also investigate if the location warrants a dispensary.

Just because the location meets zoning guidelines doesn’t necessarily mean that the business will flourish. A number of popular businesses have floundered simply because they chose a poor location. Due diligence is required to understand if the core group – which will be your primary customer base – around the location wants, and will make use of, a dispensary.

Get in touch with city council members. Cultivate relationships that will show those pulling the strings that you are going to provide a benefit to the city, county or town and that you are going to be a professional member of the business industry. But, keep in mind one thing – don’t try to bribe them. This rarely works and will lead to you being blacklisted for life.