Finding an affordable location for your business can be challenging, depending on the city or state. 3 on our list because of its big profit potentialin large part due to a small 3% excise tax and higher than average sales price of $9.74/gram. Alaska was among the first states to start with cannabis retail sales in October 2016, and the market has been active and expanding ever since. Thats why having an experienced budtender is absolutely essential for your dispensary. Oregon. Surely, this also depends on location, state, and whether you want to open your dispensary in an urban area or rural area. Missouri and Alaska currently have no capital requirements. Heres something you might not have known before: the first state to decriminalize possession of small amounts of marijuana was, . (Video) How Much Does It Cost to Start a Dispensary in 2021 | Cannabis Startup Business Costs Explained, (Video) How to Start a Cannabis Dispensary Business With No Money | Loan For Startup Business. online. First, make sure that your store layout makes sense. One thing most successful dispensaries have in common is the optimal use of their retail space, including aesthetics and workflow. You will likely also face an additional $25k-$100k in renovation costs to finish the space in the style you desire more to make it really stand out from the crowd. Since 2010, the dedicated team at Cannasaver has worked to build a network of trusted, local dispensaries offering discounts and deals on premium products, thereby increasing accessibility and convenience for consumers. Void . Before joining the team, Kelly Main worked as an analyst at firms like Lincoln Financial Group. All rights reserved. Please enable JavaScript on your browser and try again. The sole fact that you are thinking about starting your own cannabis business shows that you are passionate about the industry. How much does it cost to open a dispensary in Arizona? The information provided on this website does not constitute insurance advice. . It won't be easy, but then nothing worth doing ever is. You can get more details on application and dispensary license costs for California, Colorado, Oklahoma, Washington, Missouri, and Michigan.