Dreamers, in any industry, may have visions of owning their own business dancing in their heads. From services to products, restaurants to retail, any business owner that’s under the impression that they can put in minimal amounts of work and get any return on their investment at all is, well, dreaming.
But while traditional businesses focus on finding the perfect location and getting their permits in order so they can open the doors, there are some industries that have special needs that need to be fulfilled before they can start building their customer base. Eateries need to have health inspections. Bars need to have liquor permits. And marijuana dispensaries? They need a lot of extra special love and attention.
Finding the perfect storefront for many dispensaries involves much more than simply finding four walls that call to the new business owner. It involves more than looking for a spot that will deliver a high amount of traffic. It involves more than looking for a place that might be able to provide parking or is accessible from major roadways. In many places that have legalized marijuana, in one form or another, often have tons of restrictions regarding how many dispensaries can be in a certain area (township, county, city, etc), and zoning allowances are often strict when it comes to the distance these businesses have to be from schools and other places that will likely have minors in regular attendance.
Beyond this, many banks and other funding establishments shy away from the idea of supporting an industry which remains federally illegal, so dispensary owners are forced to get creative with a lot of cash-only transactions. Rules governing the cannabis that is permitted to be grown, harvested, and sold can put significant limitations on the demand that a certain dispensary’s supply can cater to.
For those that are not faint of heart, the aforementioned restrictions may not keep business owners from their ambitions, but perhaps the long hours that are required for any brand new company will. Those that are a combination of resilient, ambitious, and well-funded are almost certain to find the books in the black very shortly.