Opening a marijuana dispensary is no joke. You will need to get through a lot of permissions and other formalities in order to get it licensed. It is just like opening any other kind of business. Due to the variety od regulations and state laws, the process can get a lot more expensive than you could ever imagine. That is why we recommend you to read our blog carefully before thinking of opening a marijuana Des moines dispensary.
What are the costs involved in this process?
Let’s get straight to the point. The overall cost of opening a marijuana dispensary can be anywhere between $250,000 to $2 million USD. Depending on the size of the dispensary, products you have stocked and other factors, the cost fluctuates between this range. Budget can vary but there are some costs which you cannot control and is not within your hands. That is why a minimum cost of $250,000 is always involved.
The fees vary between the different states in the country and a price of around $5000 will be required to obtain the license for the dispensary. So, before you even make your first purchase, you are having to spend a lot of money. The annual license fee can be between $1000 to $8500 depending on the state you are present. Other than that, stocking your shop and paying taxes can add an extra $4500 – $8000 monthly.
If you already own a shop, then you will saved from paying the monthly rental fees. That will be a big relief, or else it adds to the expenses. This is roughly what you will need to invest at the beginning when you open marijuana dispensary. Make sure to contact the local authorities to know more details about the costs and expenses.