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Do Your Research
Understanding of the ins and outs of marijuana laws is a must. States, cities and towns have specific laws regarding what types of businesses are allowed, and where. These laws include how many total dispensaries are permitted, how close they can be to each other, as well as restrictions on proximity to other buildings like churches and schools, among a slew of other regulations.
Be strategic about whether you want to open your dispensary in a small town or a city. This type of preliminary research will help you decide on what products to stock to appeal to your clientele. It will also influence your structural necessities, such as whether you need a parking lot, waiting rooms, or armed guards, for example.
Finding the right fit for your dispensary requires extensive market research. There are a wide range of overhead costs as well as clientele profiles depending on where your operation is based. Prices for wholesale cannabis in Michigan are different from those in Nevada, for instance. And both of those states will have higher rent costs than New Mexico. Shoppers in all of these places will have different preferences and habits. Figuring out your niche and making your dispensary stand out will be crucial to success.
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