may be legally established under California’s medical marijuana laws.
However, their operation is strictly prohibited under federal law and by many local ordinances.
In order to open a dispensary in accordance with California law, there are specific steps you should follow.
How much does it cost to start a dispensary in California?
In California, you’ll pay $1,000 to apply for a dispensary license, and if approved, you’ll pay a licensing fee between $4,000 and $120,000, depending on the estimated value of your operation. You’ll also need to factor in real estate, which can cost between $50,000- $100,000 annually, as well as other startup costs.
How much money does it take to start a dispensary?
The capital needed to start the process of opening a dispensary varies by state, but it’s never a small number. In Arizona, for example, you need to have at least $150,000 in startup capital if you don’t want your application to be rejected, while Nevada requires that you have $250,000 at the ready before you begin.
Are dispensaries profitable?
Dispensaries in cannabis legal states have been more than profitable in their annual sales and distribution of cannabis products. After obtaining a dispensary license, owners may be required to obtain a cultivation license for the growing of their products, which can cost a few extra thousand dollars.
How much do dispensaries make?
Cannabis job salaries are sometimes topped off by dispensary owners. In some instances, cannabis dispensary owners earn well over $1 million annually. For example, Harborside Medical dispensary in San Jose, California reportedly does over $20 million in annual sales.
How much does it cost to start a grow op?
However, the actual startup costs also end up varying based on a number of factors. Outdoor and combination methods of cultivation tend to cost between $10 and $17 per square foot, and greenhouse grow setups average at $50 per square foot.