Setting up a marijuana dispensary is really expensive and requires a lot of capital. There are different kinds of costs that one needs to bear. Since the legalization of marijuana, many people have set up their own dispensary. If you are planning to do the same, then you need to check out our blog and get details about License Medical Marijuana Dispensary Manager Salaries in Des Moines as well all in one place.
- The first expense will be getting the license for the marijuana dispensary. A full time license can cost you anywhere between $5000 – $8000, depending on the state you are planning to set it up.
- Next you will have to think about the location of the dispensary. If you already own a shop, then you can save a lot of money. But if not, then renting a place can cost you well upward of $100,000 annually for a marijuana dispensary.
- A lot of banks do not take the risk of providing financial loans to marijuana dispensaries and that is why you will have a difficult time finding one. Even if you do, they can charge upto $2000 of holding fees for each month.
- Other costs include marketing and paying the salaries of your employees. Marketing can cost you an amount of $20,000 – $25,000. The main staff you will need includes budtenders, store manager, and a master grower, and a combined amount of almost $250,000 will be required annualy for paying them.
Here are the estimate costs of setting up a marijuana dispensary in 2020. These costs are estimates and varies a lot depending on the state you are opening it and other factors. Get in touch with local authorities to know more about it.