So, you’re looking to open a medical or adult-use dispensary? Here’s a few first steps and important considerations to think about when assembling a team, and creating a business plan to apply for a dispensary that will be a guaranteed success!
Just as with any new business venture, location matters. Especially when selecting a location for your dispensary you need to have safety, accessibility, and professionalism at the heart of your real estate selection. Ensuring that your business is a value-add for the community is crucial to its success and ability to gain support from neighboring businesses.
Assembling a team that is able to support a company’s growth beyond initial start up is key. You will need a general manager, assistant manager, and dispensary agents. Fair wages and equitable hiring practices should be implemented when recruiting and employing. Offering benefits and retirement options is also another way to legitimize and retain quality staff.
Developing a marketing plan that can evolve as state laws and regulations change is another feature of starting a successful dispensary. As more research is completed and the general public becomes more aware of cannabis uses and benefits, your marketing strategy will need to expand. Utilizing social media platforms, and creating relationships with local newspapers and news outlets will be an important first step in publicizing the opening of your business.
Having a vision that incorporates safety, education, and compliance is critical to providing a service that meets the needs of your customers. Providing continued training opportunities for advancement of minorities, and those populations that are disproportionately affected by the war on drugs. Safety is another component that should be addressed in operating procedures to ensure the safety of customers and agents alike. Outlining these procedures in a clear plan is crucial for maintaining compliance to each state’s specific regulations.
Book an appointment with our cannabis business consultants
For assistance in developing a business and operating plan that addresses these components (and more!) in compliance with your state’s specific rules and regulations, contact Canna Business Services to set up a consultation.