Recreational marijuana use has been legal in California since late 2016. Since that time, California has licensed over 10,000 cannabis businesses. Many municipalities have chosen not to allow the retail sale of cannabis, taking a “wait and see” approach. As they do begin to allow cannabis retail establishments, this opens the doors for new business and growth of existing businesses. Here are some tips for opening a cannabis dispensary in California.
- Apply for Licenses
In California, you must apply for retail licenses through the city in which your business will be located as well as through the state. The cost of opening your business will cost you thousands of dollars.
- Have Insurance
With any business, there are inherent risks, and having cannabis dispensary insurance can protect the business and its owners from liability.
Your business cannot be located within 600 feet of any school. Also, keep in mind your business hours will be limited to between 6 am and 10 pm. You probably won’t want to operate on a street with a lot of overnight traffic.
Plan to have a security system that is actively monitored. Only share the code with one or two trusted employees.
Opening a dispensary can be a lucrative business, but it comes with high startup costs. Having a business plan to guide you will help to ensure your success.