A Guide in Opening a Cannabis Dispensary.
As of 2017 marijuana dispensaries were serving around 100 customers per day. Considering the industry is expected to expand in future, the best time to get in this industry would be now. In this article, we will give you a guide on how start a cannabis dispensary in Nevada.
In June 2013, the governor of Nevada authorized marijuana dispensaries, in 2016 recreational marijuana become legalized. It is expected the sales of marijuana to be at 280,000,000 dollars in the years 2021. By that time getting a license will be a very competitive. If you have acquired all the knowledge you need when starting a cannabis dispensary then whole process will be simple.
The population in a county determines how many dispensaries they can have. For a population of around 70000 you expect almost 40 dispensaries. There should not be more than 1 dispensary for a population below 55,000.
To obtain a cannabis license, there is some fee that you will be required to pay. The registration fee for a medical cannabis dispensary is $30000 and a renewal fee of $5000. While for a medical cannabis cultivation facility or cannabis product manufacturer you will be charged $3,000 for registration and renewal for each $1,000. The registration fee as per now for a testing lab is $5000 and a the renewal fee is $3000. Both whole sellers and retailers of cannabis products are charged a 2% excise duty.
If you need to acquire a license, it is advisable you get it from the tax department. To know the requirements for cannabis licensing, read more here.
When it comes to cannabis licenses, they are divided in 5 types, for example the distributor license.
If you need a license for cultivating, growing and packing the cannabis get the cultivation facility.
Then there is the product manufacturing facility, which allows one to manufacture, process and package both cannabis and cannabis products, with this license you cannot sell to consumers but you can distribute to other manufacturing facility and retail stores.
The retail store license is ideal for anyone that wants to buy marijuana from manufacturer and sell to consumers.
For people who want to focus on testing the marijuana products the testing facility license will come in handy.
You will also be required to have cash for capital and a business premises. It is important you show how you will run the dispensary.
The amount of money you will make from the dispensary will be determined by the location and the population.
To purchase the cannabis products, you need to be over 21 years of age. For medical marijuana, it is required you be having certain medical conditions.