How To Run a Dispensary
There is no denying that the future of Medical Marijuana is exciting. Your place in this exciting and emerging market running a dispensary is needed for patients who require reliable help. That doesn’t mean things will always run smooth like in other more generally accepted businesses. Many of the laws that allow for legal dispensing of Marijuana could change with the shifting political winds in the various jurisdictions. However there is little doubt that the enacting of these laws in various states over the last decade signals a shift towards growing acceptance of Marijuana as a legitimate medical alternative. Also there is arguably a better chance for future growth the longer the medical marijuana dispensary exists and becomes part of the fabric of communities. If you reside in a legal Medical Marijuana state and with so many states still to consider medical marijuana initiatives, the opportunities exist for a person with an entrepreneurial bent to run a successful dispensary.
There are some general issues to keep in mind when considering getting into the business. The permit and legal processes to properly set up a medical marijuana dispensary can be cumbersome and hard to grasp, especially if you don’t possess a background in law. You will want to seek advice of an attorney and accountant or get our free email course below. Things like location compliance according to local zoning laws and proper ledgering and reporting of revenues can potentially undo your business if they are not done correctly.
The current climate with Federal law being in conflict with State’s individual laws allowing for medical marijuana is a consistent area of concern for dispensary operators. Currently, the U.S. Attorney General’s office has a stated policy to not undertake prosecutions when the individual dispensary meets the State law. This is an area that is in constant flux with the changing ideologies in power, but you will want to maintain compliance with State law as your greatest security.
What about Success? How do you run what could be defined as successful business when the laws normally forbid the operator of the dispensary from operating in a conventional for-profit maximizing posture? Well here again, you need to be on top of the rules regarding lawful operation and acceptable use of revenues from the sale of legal medical marijuana.
Generally, you are allowed to operate the business by reinvestment of excess revenues back into the business.
Success is also about understanding that you are providing a safe legal platform for people who desperately need the medicinal relief you can provide them. Also take comfort in knowing that the longer the laws are established, the more legitimate your business will be considered and the more people you will be able to serve. Running a medical marijuana dispensary is emerging as a way to have positive impact on a ground-floor market that is largely under served.
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