For many cannabis lovers, owning and operating a dispensary is a dream. But what is the cost of opening a dispensary, you might be asking. For those looking to turn that dream into a reality, your friends at BLAZE have broken down everything you’re going to need to know to get your idea out of your daydreams and into a real, functioning business. With the cannabis industry continuing to skyrocket in growth, there’s no time like the present!
What’s the cost of opening a dispensary?
Opening a dispensary is just like opening any other small business right? Not quite. Cannabis dispensaries have a whole host of additional expenses, regulations, and barriers that one needs to account for. If you’re not deterred by the roadblocks, then let’s keep going.
Cannabis dispensaries can vary wildly in start-up costs. One thing you can be certain of, it’ll be expensive. The average cost of opening a dispensary can range anywhere from $150,000 to over $2 million! Is that it? Well, you have to account for around $250,000 in annual staffing costs, rent which could run in the hundreds of thousands, and money for yearly renovations. Not every business is going to have these same expenses, that’ll depend on things like the size of your operation and where you’re located.
Looking for more specifics? Don’t worry, we’ll get into what these costs mean and how they can change from state to state.
Dispensary License Application Fees: The Forgotten Cost of Opening a Dispensary
People often overlook the cost that goes into licensing applications fees. While they might not break the bank, they’re an expense early on that is going to cost you before you’ve even sold a gram. The average license fee is around $5000. These fees are non-refundable and are just to get you started, you’ll have to pay an annual license fee as well. Annual fees can range from $1000 to over $10,000. That’s a lot of money just to get in the game!
The Brick-and-Mortar Cost of Opening a Dispensary
Ever hear the adage “location, location, location”? We’ll truer words have rarely been spoken. Where you locate your dispensary will affect almost everything in your business. It’ll determine your foot traffic, peak hours, competition, and much more. A good spot though, is hard to find.
Depending on your state and county, there may be strict rules on where your dispensary can be. For instance, many can’t be within a close distance to schools or other places where children are present. You’re also going to pay a premium for being a cannabis dispensary. That cost can run in the hundreds of thousands easily. Don’t forget your start-up costs as well. So things like remodeling your space, creating branding, and optimizing your retail floor, are all going to cost you.
Banking Rules and Fees for Cannabis Dispensaries
As you know, cannabis dispensaries fall into a weird spot in the banking world. While they can operate in certain states, according to the federal government, they’re illegal. That means that many banks don’t want to do business with them. So no luck with loans and investments.
Don’t worry, smart cannabis entrepreneurs like yourself have figured out ways around this. Cannabis dispensary owners can instead choose to do business with credit unions and even privately held cannabis banks. While that seems like an easy solution, just know that these specialty banks and credit unions know they have you in a bind. So they’ll feel fine charging monthly holding fees that can run in the thousands.
The Ongoing Cost of Opening a Dispensary
So you’ve handled all of these expenses and you’re ready to get started, just hold on! Before you open the doors to your amazing new store, you’ll need a fully compliant POS system, a security system, and plenty of amazing products.
Factoring in the cost of not only the software you’ll need, but all of your electronics is another important cost of opening a dispensary. A great dispensary POS system like the one we have at BLAZE is crucial. A solid dispensary POS is an asset for upstart dispensaries. Quality POS systems offer a full suite of dispensary services. Features such as seed-to-sale software and cannabis distribution software add more value to your dispensary. BLAZE is a valuable software that understands the ins and outs of opening a dispensary. With constantly updated software with real-time data, we let retailers worry less about compliance and regulations and more about sales. Depending on your dispensary needs, cannabis software can range from $300 – $600 a month, plus additional fees for hardware such as iPads, iPhones, and POS equipment.
Know that you’ve got your POS system in order, it’s time to look at your inventory. In some states, it’s illegal for dispensaries to grow their own plants. If that’s the case for your store, then you’ll need to factor in what it will cost to stock your shop. Quality products can run as high as $1,500 a pound. That’s not cheap!
Did you forget about marketing and advertising? How you brand and advertise yourself is going to be crucial in bringing in new customers and beating out your competition. Your prices here are going to vary pretty drastically depending on the size of your operation and your goals. Utilizing social media is a great way to save on costs, just be careful when running ads. Billboards and print ads are other great options if you’re willing to spend a bit more.
Having a great attorney on retainer is another thing you don’t want to skip on. Same goes for having a strong insurance policy. Since the cannabis industry is so volatile, expect these costs to be high. Expect around $50,000, but prepare for more.
Lastly, no store is going to last if it doesn’t have a team of professional and well-trained employees. Of course, the size of your operation will determine how many people you need working, but there are some positions you’re going to need to fill. Your dispensary is going to need at least a couple budtenders, a supervisor, and a store manager. At the very least, expect your employee cost to be a couple hundred thousand dollars.
The Cost of Opening a Dispensary State by State
The cost of opening a dispensary will vary depending on the state. Here’s where marijuana is legal state by state.
- California
- Colorado
- Oklahoma
- Washington
- Alaska
- Oregon
- Washington, D.C.
- Maine
- Massachusetts
- Nevada
- Michigan
- Vermont
- Illinois
- Arizona
- Montana
- New Jersey
- South Dakota
- New York
- Virginia
- New Mexico
- Connecticut
- Alabama
- Arkansas
- Delaware
- Florida
- Hawaii
- Louisiana
- Maryland
- Minnesota
- Missouri
- New Hampshire
- North Dakota
- Ohio
- Pennsylvania
- Rhode Island
- Utah
- West Virginia
The Cost of Opening a Dispensary in California
The cannabis market in California is one of the largest and fastest-growing markets in the country. So expect to pay for that. In California, you’ll have to spend $1000 to apply for a dispensary license and then between $4000 and $120,000 for the licensing fee once approved, depending on the estimated value of your business. Don’t forget to factor in California’s high real estate prices. These can easily run you in the hundreds of thousands annually. The cost of opening a dispensary in California only gets more expensive from here.
The cost of living in California is just as expensive as everything else. Due to that, you’re going to need to pay your employees more than what the national average of around thirty to forty thousand dollars. Depending on the number of your employees, that expense can rack up quickly!
In California, expect to pay around $250,000 up-front to open your dispensary. The price may be lower depending on where in the state you are, but with rising prices everywhere, it’s better to be prepared. Ongoing expenses will also be high and should be estimated at close to $100,000 a month.
Here are some more specifics:
Cultivation
- Specialty Cottage Outdoor $135
- Specialty Outdoor $270
- Small Outdoor $535
- Medium Outdoor $1,555
- Specialty Cottage Indoor $205
- Specialty Indoor $2,170
- Small Indoor $3,935
- Medium Indoor $8,655
- Specialty Cottage Mixed-Light Tier 1 $340
- Specialty Mixed-Light Tier 1 $655
- Small Mixed-Light Tier 1 $1,310
- Medium Mixed-Light Tier 1 $2,885
- Specialty Cottage Mixed-Light Tier 2 $580
- Specialty Mixed-Light Tier 2 $1,125
- Small Mixed-Light Tier 2 $2,250
- Medium Mixed-Light Tier 2 $4,945
- Nursery $520
- Processor $1,040
Manufacturing
Universal application fee of $1,000 for all license types
Retail
Universal application fee of $1,000 for all license types
Still want more help opening a dispensary in California? Read our article on it here!
The Cost of Opening a Dispensary in Oklahoma
Oklahoma is one of the cheaper states to open a dispensary in. Your licensing fee for a medical marijuna dispensary in Oklahoma will be around $2,500. Then expect to spend between $80,000 to around $150,000 to get your operations going. Your monthly expenses will be around $50,000 too.
The cost of living and minimum wage is relatively low in Oklahoma. That will save you money on budtenders and employees. Likewise, the real estate in Oklahoma is also cheaper than states like California and Colorado. However, be prepared to search high and low for a good location and be ready to deal with landlords who may be hesitant to rent to a cannabis dispensary.
The Cost of Opening a Dispensary in Missouri
With the cannabis industry still young in Missouri, there’s plenty of incentives to open your dispensary here. The non-refundable application fee is $6,000 and the annual license renewal fee is $10,000, so the start-up cost is quite high. From there, be ready to pay around $80,000 to $150,000 to open your store and about $50,000 a month to operate it. However, you’ll save money on expenses like real estate and cost of living for your employees.
The Cost of Opening a Dispensary in Michigan
Michigan allows for both medical marijunana dispensaries and adult-use retail dispensaries. The licensing fee is $6000 and then for medical marijuana dispensaries, there is an assessment fee of $44,000. For recreational dispensaries, the initial fee is $25,000.
The overall cost of opening a dispensary in Missouri is low. Plan on paying between $50-100k. Cheap real estate and low employee costs will keep your monthly expenses below $50k.
The Cost of Opening a Dispensary in Illinois
The cost of opening a dispensary in Illinois can be pricey. In Illinois, there’s a Cannabis Business Development Fee of $100k for same site registration and that fee is double for a second location. Tack on the $2,500-$5000 application fee and a $60,000 licensing fee, and you’re investing a lot upfront.
Expect your cannabis dispensary start-up costs to be between $100-200k. Your ongoing costs can vary depending on where in the state you are, but can go as high as just under $100,000.
The Cost of Opening a Dispensary in Colorado
Colorado is leading the industry in cannabis businesses and sales. As one of the first states to legalize recreational marijuana, it comes with the territory that it’d be one of the most competitive. Expect to pay higher costs not only for start-up costs, but also for things like marketing and advertising.
Your application cost is $5,000 and your licensing fee is $2,000. After that, expect to pay between $200-500k to get your business up and running.
For more information on what it takes to open a dispensary in Colorado, read our Colorado specific articles on our cannabis blog.
The Costs of Opening a Dispensary in Washington
Washington State has a friendlier start-up cost than other states. It’s application fee is only $250 and the licensing fee is under $1,500. The market is growing rapidly so other start-up costs can depend on when your dispensary is ready to open. Expect to pay $150,000 or less to open your dispensary in Washington State.
The Cost of Opening a Dispensary in Alaska
Opening a dispensary in Alaska starts with a $1,000 application fee. Then there’s a $50 finger-print fee associated with the person filing the application. The licensing fee is $5,000 from there. Then there’s a fee for onsite consumption endorsement for $1,000 and one for $2,000 once actually approved.
Your total start-up costs for opening a dispensary in Alaska should be around $100-150k.
Adult-use Application and Admin Fees
- New Application Fee- $1000
- Transfer Application Fee- $1000
- Renewal Application Fee- $600
- Fingerprint Fee- $48.25 (per person)
- Business Name Change Fee (MJ-13)- $250
- Licensed Premises Diagram Change Fee (MJ-14)- $250
- Operating Plan Change Fee (MJ-15)- $250
- Proposed New Marijuana Product Fee (MJ-16)- $250 (per product)
- Ownership Change Fee (MJ-17)- $250
- Conversion Application Fee- $1000
- Onsite Consumption Endorsement Application Fee- $1000
- Onsite Consumption Endorsement Fee- $2000
Adult-use License Fees
- Standard Marijuana Cultivation Facilities- $5,000
- Limited Marijuana Cultivation Facilities- $1,000
- Marijuana Product Manufacturing Facilities- $5,000
- Marijuana Concentrate Manufacturing Facilities- $1,000
- Marijuana Testing Manufacturing Facilities- $1,000
- Retail Marijuana Store- $5,000
Adult-use Renewal Fees
- Limited Marijuana Cultivation Facilities- $1,400
- Marijuana Concentrate Manufacturing Facilities- $2,000
- Marijuana Testing Facilities- $2,000
- Standard Marijuana Cultivation Facilities- $7,000
- Marijuana Product Manufacturing Facilities- $7,000
- Retail Marijuana Store-$7,000
Cost of Opening a Dispensary in Oregon
A medical marijuana license in Oregon costs $4000. That fee encompasses a $500 non-refundable application fee and $3500 registration fee. In Oregon, medical licenses are issued for growers, processors, dispensaries, physicians, and laboratories.
The cost of opening and running your dispensary in Oregon will cost a minimum of $200,000 with high real-estate prices in major cities and cost of living.
The Cost of Opening a Dispensary in Washington D.C
In Washington D.C the annual registration fee is $10,000 with an initial processing fee of $5,000. Then there’s the annual fee for a cultivation center registration which is $5k and an initial processing fee of the same price. There are also fees for employee registration which can run you around a hundred dollars per employee.
The cost of opening a dispensary in Washington D.C is at least $200,000 and that’s before factoring costs of operations and things like a security system and a POS.
The Cost of Opening a Dispensary in Maine
Maine has a long history of legalization, going back to the 90’s when it legalized medical marijuana. The application fees are quite low in Maine and the start-up cost for a dispensary is on the lower-end of the spectrum.
Application Fees/Start up costs
- Application fee for a Retail Marijuana Store is $250.
- Application fee for a Tier 1 Cultivation Facility license is $100.
- Application fee for a Tier 2 Cultivation Facility license is $500.
- Application fee for a Tier 3 Cultivation Facility license is $500.
- Application fee for a Tier 4 Cultivation Facility license is $500.
- Application fee for a Nursery Cultivation Facility is $60.
The Cost of Opening a Dispensary in Massachusetts
The cannabis market in Massachusetts is growing fast. There are hundreds of dispensaries across the state and more to come. Starting a dispensary here can be a pricey, but potentially lucrative endeavor. To get started there is a $1,000 application fee and a $10,000 licensing fee. From there, you need to calculate high real-estate costs and money that will need to be spent on marketing and advertising. Expect to pay a lot more than many other states to open a dispensary in Massachusetts. The average start-up cost is around $300,000k and can go as high as over a million dollars.
Still undeterred? Check out our article on how to open a dispensary in Massachusetts.
The Cost of Opening a Dispensary in Nevada
If you’re thinking of opening a dispensary in Nevada, be aware that the start-up costs can be very high. The initial application fee is $5,000 and there’s a $30,000 initial licensure fee. After those, there’s a $5,000 annual licensing fee. The costs of operations are comparable to other states, being in the hundreds of thousands. For those willing to brave the heavy application fees, Nevada has an emerging cannabis market with the potential to grow exponentially in the coming few years.
The Cost of Opening a Dispensary in Vermont
Vermont has a significant investment for cannabis entrepreneurs to get started. There is a $2,500 non-refundable application fee and a $20,000 licensing fee. That fee increases to an annual $25,000 fee after the initial fee. Because of all of these fees, the start-up cost to opening a dispensary in Vermont is high. Expect to spend several hundred thousand to get your business running.
The Cost of Opening a Dispensary in Arizona
If you’re ready to open a dispensary in Arizona, there are a couple of expenses you need to be prepared for. First is a $25,000 non-refundable application fee as well as an $5,000 annual renewal fee. In Arizona, there’s also a requirement to register each of your employees for $500 for each of them.
The Cost of Opening a Dispensary in Montana
Montana has a tier system of fees for those looking to open their dispensary there. The average starting licensing fee is between $500 and $1,000 depending on the size of your store. That price increases significantly if you plan on opening several locations. Comparatively, the cost of opening a dispensary in Montana is somewhat low.
Here’s the tiered list broken down a bit more.
- Adult-Use Providers
- Tier one – max 1,000 square feet – $1,000 application fee
- Tier two – max 2,500 square feet – $2,500 application fee
- Tier three – max 5,000 square feet – $5,000 application fee
- Tier four – max 7,500 square feet – $7,500 application fee
- Tier five – max 10,000 square feet – $10,000 application fee
- Tier six – max 13,000 square feet- $13,000 application fee
- Tier seven – max 15,000 square feet – $15,000 application fee
- Tier eight – max 17,500 square feet – $17,500 application fee
- Tier nine – max 20,000 square feet – $20,000 application fee
- Adult-Use Marijuana-Infused Products Provider
- Tier one – max 1,000 square feet – $1,000 application fee
- Tier two – max 2,500 square feet – $2,500 application fee
- Tier three – max 5,000 square feet – $5,000 application fee
- Tier four – max 7,500 square feet – $7,500 application fee
- Tier five – max 10,000 square feet – $10,000 application fee
- Tier six – max 13,000 square feet- $13,000 application fee
- Tier seven – max 15,000 square feet – $15,000 application fee
- Tier eight – max 17,500 square feet – $17,500 application fee
- Tier nine – max 20,000 square feet – $20,000 application fee
- Adult-Use Dispensary
- $500 application fee for one dispensary location
- $5,000 application fee for 2-3 locations
- $25,000 application fee for 4-5 locations
- $100,000 application fee for six locations or more
The Cost of Opening a Dispensary in New Jersey
Opening a dispensary in New Jersey has a friendlier application process than other states. In New Jersey, the application fee can be as low as $100 and you’re only required to pay 20% of it upfront. The other 80% is only due if your application is accepted. Once approved the annual retail license fee is $10,000.
With zoning laws in New Jersey and fluctuating real estate prices, expect to spend in the low hundreds of thousands to get your store operational.
The Cost of Opening a Dispensary in South Dakota
Opening a dispensary in South Dakota can be complicated and costly. While the application fee is set universally only as high as $5,000 for all dispensary types, many counties has additional fees that must be paid on top of that. For example, Sioux Falls charges a $100,000 licensing fee and requires that be repaid biannually. That’s a lot of money in fees!
Tack those fees on with the normal costs of running your dispensary like potentially a couple hundred thousand for staff, money for inventory, security, and a POS system, and you’re looking at a heavy initial investment. The estimated growth of the cannabis industry in South Dakota is also small at only around $30 million. However, cannabis entrepreneurs are known for making it work in tough situations.
The Cost of Opening a Dispensary in New York
Whether you’re looking to open your dispensary in New York State or the Big Apple itself, there are some things you need to know. Currently, recreational marijuana has been approved by the state, but is still being put into place. There’s a good chance when it does, it’s licensing fees will be the same as it is for a medical marijuana dispensary in New York. Look to pay between $5,000 and $10,000 in licensing fees.
There’s a lot to cover on opening a dispensary in New York. That’s why we have a whole article going into it in more depth.
The Cost of Opening a Dispensary in Virginia
To get started opening your dispensary in Virginia, you must submit a non-refundable application fee of $10,000. From there, there is a $60,000 permitting fee. While other operating costs remain the same, the projected market value in Virginia is expected to grow exponentially in the coming years, even reaching the billions of dollars. This makes Virginia a worthwhile state to consider when looking at what state is best to open a dispensary.
The Cost of Opening a Dispensary in New Mexico
The cost of opening a dispensary in New Mexico can vary greatly depending on what type of dispensary you’re trying to open. The average adult-use dispensary will incur a $10,000 business licensing fee, a $2,500 application fee, and an additional $1,000 fee annually. If your dispensary plans on growing or anything else, the fees are going to be much higher.
Here’s a look at the different fees based on the different cannabis businesses you might want to open.
New Mexico Cannabis Adult-Use Producer License
How to open a Cannabis Producer facility in New Mexico: Fee of up to $2,500, with an additional $1,000 per each licensed premises.
New Mexico Cannabis Adult-Use Retail Dispensary License
How to open a Cannabis Dispensary in New Mexico: Fee of up to $2,500, with an additional $1,000 per each licensed premises.
New Mexico Cannabis Adult-Use Courier License
How to open a Cannabis Courier service in New Mexico: Fee of up to $1,500 with an additional $1,000 per each licensed premises.
New Mexico Cannabis Adult-Use Manufacturer License
How to open a Cannabis Manufacturer in New Mexico: Fee of up to $1,500 with an additional $1,000 per each licensed premises.
New Mexico Cannabis Vertically Integrated Cannabis Establishment License
How to open a Cannabis Establishment in New Mexico: Application fee of up to $125,000. Licensing fee of up to $7,500 with an additional $1,000 per each licensed premises.
New Mexico Cannabis Producer Microbusiness License
How to open a Cannabis Producer Microbusiness in New Mexico: Fee of up to $1,000.
New Mexico Integrated Cannabis Microbusiness License
How to open an Integrated Cannabis Microbusiness License in New Mexico: Fee of up to $2,500, with an additional $500 per licensed premises.
New Mexico Cannabis Testing Laboratory License
How to open a Cannabis Testing Laboratory in New Mexico: Fee of up to $2,500, with an additional $1,000 per each licensed premises.
The Cost of Opening a Dispensary in Connecticut
While recreational cannabis passed through state governing bodies in Connecticut, it won’t be active for a few more years. In the meantime, medical marijuana dispensaries are a thriving business. If you’re looking to open a medical dispensary in Connecticut or hoping that the start-up fees will be the same, then this is what you can expect. There’s a non-refundable $100 application fee and $100 annual renewal fee. For medical marijuana dispensary facilities there is an initial application fee of $1,000, a registration fee of $5,000, and an annual renewal fee of $5,000.
Once recreation adult-use consumption takes hold, the cannabis market in Connecticut is expected to bloom.
The Cost of Opening a Dispensary in Alabama
While recreational cannabis is still illegal in Alabama, medical marijuana use was approved just recently. To start your medical marijuana dispensary in Alabama, you’ll need to pay a non-refundable application fee of $2,500 and a licensing fee which costs no less than $10k and no more than $50k.
Those looking to open a recreational dispensary in Alabama, may have to wait a while. The state has just recently approved medical marijuana use and adult-use still seems some years off at best.
The Cost of Opening a Dispensary in Arkansas
There are several unique requirements that go into opening a dispensary in Arkansas. Would-be entrepreneurs must first pay a $7,500 application fee. Applicants have to also show proof of assets or a surety bond of $200,000 and at least $100,000 in liquid assets.
Currently recreational marijuana is not legal in Arkansas, but medical and CBD is legal. These uses represent a significant amount of business for those looking to open shop here.
The Cost of Opening a Dispensary in Delaware
Opening a dispensary in Delaware requires a non-refundable application fee of $5,000 and both an initial certification fee and bi-annual licensing fee of $40,000.
The marijuana market in Delaware is still budding, but growing fast. For dispensary owners able to spend a few hundred thousand dollars in start-up costs, have the benefit of getting into the market relatively early.
The Cost of Opening a Dispensary in Florida
If you plan on opening a dispensary in Florida, plan on paying up. The average cost for dispensary owners is just under a million dollars. You are also required to have five million in reserves to show that you can take on any business issues that arise. There’s then a $60,000 licensing fee which is much higher than the costs in other states.
The costs of opening a dispensary is very high in Florida, especially considering that recreational marijuana is still illegal in the state.
The Cost of Opening a Dispensary in Hawaii
Before you get started planning on how you can begin opening a dispensary in Hawaii, there are only a limited number of dispensaries allowed to operate in the state and these have all already been taken. More so, only medical marijuana dispensaries are currently allowed to operate.
That being said, we’ll still break down the costs in case anything changes. There’s an initial licensing fee of $75,000 and a renewal fee of $50,000. You’ll have to be aware of the high operating and real estate costs on the islands as well.
The Cost of Opening a Dispensary in Louisiana
We’re going to put the brakes on opening a dispensary in Louisiana right now. Currently, only pharmacies can sell marijuana in the state of Louisiana. There is only one legal grower of marijuana in Louisiana as well.
The Cost of Opening a Dispensary in Maryland
The cost of opening a dispensary in Maryland is estimated at $500,000. There are substantial start-up fees that contribute to this cost. Would-be dispensary owners must pay a stage two application fee of $4,000. After that, there is a $80,000 licensing fee which has two be repaid every two years.
Currently, only medical marijuana is legal in Maryland, but there have been regular votes on legalizing recreational use. While that hasn’t passed yet, there remains strong voices in the state in favor of it.
The Cost of Opening a Dispensary in Minnesota
This is another state we’ll hold off on estimating dispensary costs for. Currently there is a limited number of dispensaries licensed to operate and there is no word on when more will be available.
The Cost of Opening a Dispensary in New Hampshire
In New Hampshire only medical marijuana is legal. However there’s plenty of opportunity, with the market expected to grow to over fifty million dollars. The cost of opening a dispensary in New Hampshire is much lower than states like Colorado. There is a $3,000 request for application fee and a $20,000 acceptance fee if you are selected.
Currently, there are only a handful of available licenses that were given out and these spots are all taken. However, more dispensaries may be allowed to open sometime in the future.
The Cost of Opening a Dispensary in North Dakota
North Dakota is a medical marijuana only state. The cost of opening a dispensary in North Dakota includes a $5,000 application fee and a $90k certification fee. That’s a hefty certification fee.
It’s important to note, that like some other states we’ve talked about, there is only a limited number of available licenses. However, more may come in the next few years.
The Cost of Opening a Dispensary in Ohio
There is a steep cost of opening a dispensary in Ohio. The application fee is $5,000 and upon acceptance there is a $70k fee as well. That $70k fee has to be repaid every two years as well. Don’t forget, as a business owner, you’ll have to pay between $100 and $500 in registration fees per employee.
Ohio currently has only legalized medical marijuana, but several propositions to legalize recreational marijuana have been submitted.
The Cost of Opening a Dispensary in Pennsylvania
Pennsylvania is a medical marijuana only state. Currently adult-use has not been approved, but there is a significant push for legalization. The cost of opening a dispensary in Pennsylvania consists of a $5,000 application fee, a permit fee of $30,000 (which unlike many other states, is refunded if you’re not approved), and $150k in capital. Other costs like real estate and employee wages are somewhat low.
The Cost of Opening a Dispensary in Rhode Island
First off, currently there are no licenses available in Rhode Island. However, we’ll go into the fees and costs associated in case something changes soon. There is an application fee of $10k and a licensing fee of $500k. Make sure to include all the operating costs, employee salaries, and real estate, and you’re looking at easily a million dollar start-up cost.
The Cost of Opening a Dispensary in Utah
There’s only three licensed dispensaries in Utah currently and heavy restrictions on the cannabis industry, so we’ll skip the cost of opening a dispensary in Utah for now and come back to it when things change.
The Cost of Opening a Dispensary in West Virginia
In West Virginia, only medical-use cannabis has been authorized. If you’re looking to open a dispensary in West Virginia, the costs will include a $2,500 application fee and $10k licensing fee if your business is accepted. Lastly, there’s a renewal fee of $2,500 on top of normal business start-up and operating costs.
How Much Does a Dispensary Owner Make?
Your income as a dispensary owner can vary greatly based on location, your store, the amount of customers you have, and the dispensary POS you have,. Knowing your market, your state, and your customers’ wants and needs are crucial for you to turn your cannabis business into a success.
