To the average bystander, a cannabis dispensary may seem to be a fast way to make a lot of money without any real effort. There is no question that there is a lot of potential profit to be made in this type of business. The concern is also the risks involved. Marijuana legalization is still a hotly debated subject and many in federal positions continue to encourage tighter regulations even as states work to free up its use for medicinal purposes and recreation. it is a good idea to be aware of the pros and cons of running a dispensary before taking any steps towards starting this type of operation.
The Pros of Owning a Cannabis Dispensary
- It is a feel-good business. Cannabis has the potential to help many people with their illness, anxiety and the side effects of cancer treatment.
- There is the potential to earn a sizable profit. Some dispensaries earn only tens of thousands of dollars a year and others make millions in profit. About 30 percent report sales between $250,000 – $500,000 annually and 15 percent report even higher numbers.
- It is seen as a victory for personal rights. Many choose to operate a dispensary because to them the right to this product is about having the freedom to make their own lifestyle choices.
- It is an interesting field with customers that come from a wide variety of lifestyles, income levels and belief systems.
The Cons of Owning a Cannabis Dispensary
- The regulations regarding cannabis usage change rapidly and people need to stay updated on all legislation to prevent inadvertently breaking any laws.
- Maintaining legalization and encouraging softer laws often requires people in the industry to take an active role. Being an activist is not necessarily a negative point to everyone, but some people may find the political side of the issue uncomfortable.
- There may be some negative reactions in the community towards people that operate this type of facility.
A cannabis dispensary is not the type of business anyone should invest in without doing careful research beforehand. Take a few general business courses and find out more about cannabis college. Every owner must understand the responsibility they will undertake when they open their doors.