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How much does it cost to open a dispensary in Florida? Applications for every cannabis business type are openmeaning it is currentlypossible to apply for a cannabis business licensewith the nations lowest application fee of just $250. Factors like population, demand, competition, taxes, and tourism should all come into consideration. The simple average (non-volume weighted) price decreased $7 to $1,271 per pound, with 68% of transactions (one standard deviation) in the $556 to $1,987 per pound range. How do I open a recreational dispensary in Virginia? Your on-the-floor equipment will include computers, cash registers, and your POS system, and will probably cost $25k. On the upside, however, theres no income tax or sales tax in the state. (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. The average cost of an ounce of marijuana for recreational use in Oregon is $210.75, which is well below the national average of $326.06. Then, you'd probably like to know the cheapest state to open a dispensary in, especially if you are flexible about your company location. In Washington, the fee is only $250. In both Missouri and Michigan, you'll pay a non-refundable $6000. As a result, there are a wide variety of permits and licenses required to open a dispensary and great variance between locations. How Much Does it Cost to Open a Dispensary? - Cova Software Missouri Marijuana Dispensaries & Recreational Cannabis | Weedmaps Where is it cheapest to open a dispensary? Then expect to spend between $80,000 to around $150,000 to get your operations going. To open a retail dispensary, costs include $5,000 for the application fee, $80,000 for the licensure fee, and $80,000 for the renewal fee. Stocking high-quality products, in this case, can begin at $1,500 per pound. www.cannabisbusinesstimes.com is using a security service for protection against online attacks. Cheapest State to Open a Dispensary: Best States for You - Embroker Missouri and Alaska currently have no capital requirements. Tyler is a serial entrepreneur, digital marketing expert and King of Search Engine Optimization, with over 15 years experience building traffic online. Those who know Maine as a nanny state (i.e., tax-heavy) wont be surprised to hear that its not cheap to run a cannabis business here. Also, you must stock your shelves before opening your doors to customers, and that will be a huge item to cross off your list of costs. Licenses for CBD products containing less than 0.3% THC are not needed, according to VA state law. Its also growing fast- marijuana sales in Arizona grew by 50% between 2016 and 2017! In short, Colorado still has big ganja opportunity. You might encounter similar challenges as cannabis entrepreneurs in other states, with some real estate owners or managers not being comfortable renting out space to cannabis businesses. All rights reserved. You can find the Michigan Medical Marihuana Facility License Application online if youre looking to open a dispensary. How hard is it to open a dispensary in Arizona? From Dec. 1 to Feb. 2, 2020, the state-approved licenses for 43 recreational marijuana dispensaries, 18 growers, seven processors, and three event organizers, according to the Michigan Marijuana Regulatory Agency. Arizona mandates applicants demonstrate $150k in available funds. 3. Tthe states medical marijuana industry is worth $633 million. (Video) How Much Does It Cost to Get a New Jersey Cannabis License? Massachusetts saw $106 million in revenue from cannabis businesses in 2018an impressive figure, but one that shows theres still opportunity for growth.