Many people open marijuana dispensaries for the purposes of helping people. Everyday operations and interactions with customers are the most rewarding and then money. If you start a marijuana business solely for money, then you may not be successful.
Currently, there are 13 states in the U.S. that have legalized the use of medical marijuana. These states have different laws guarding the purchase and distribution of medical marijuana. Before you start a marijuana dispensary, you will need to do your research. You will also want to follow the laws your state. Feds may also bust you, so just make sure that you provide them with the relevant details and you will be good. Here is a guide on how to open a dispensary.
Get legal
This is very important for any marijuana business.
Business acumen-You will need to acquire a marijuana dispensary license through your state. You must also get tax stamps that show that you have paid your taxes on all sales of medical marijuana.
Become a patient-It is important that you get yourself by simply visiting a doctor because you will be venturing in this field. You will want to call around to find a doctor that will write a script for you that will cover you for having more than the legally accepted limit. For example, if you are starting a marijuana business in California, you are not supposed to stock more than six mature and twelve immature plants; however, a doctor can write a recommendation to allow you to possess more than the limit set. But it can never be more than five pounds or ninety nine plants because it comes with federal charges.
Incorporate
You will be required to follow a certain order of steps. First, you will need to establish a collective as a not-for-profit business before you can start the process of acquiring your permits and licenses. It is important that you create a collective, not cooperative. You will want to make sure that you hire a lawyer to do the paper work for you.
Sign a lease
This is the one last step you will need to complete before filing for any permits and licenses. The business license and sellers permit requires a physical address for your business.
Get a licensee
You are finally ready to get your license. This is an important step that you shouldn’t forget. All cannabis transactions are taxed. This varies from one state to another, but you are often required to pay this fee annually.
Pay your taxes
You will be required to pay taxes for every sale you make. Don’t avoid taxes because you will still make money. You will be required to pay all fees to the Revenue Department.
Lastly, open your marijuana dispensary. One thing that you shouldn’t forget is security. You will need at least one security camera. Keep a low profile and always follow the law because this is a high risk business. It is however good to know that you are helping people because medical marijuana comes with many benefits.