In Denver alone, there are currently more dispensaries than there were Starbucks, McDonald's, and 7-Eleven locations combined when Colorado legalized marijuana in 2012. Some others may be inspired to enter the industry after seeing all of this success. Unfortunately, having a business sense and being a cannabis expert is not enough to open a cannabis dispensary. First, there are options like running a physical store or an online-only retailer like Amsterdam. It turns out that choosing to open a cannabis dispensary can be the simplest choice to make.

The opening of one involves many difficulties. Continue reading to learn about a few particular obstacles to starting a dispensary.

1. Licenses

It's not simple to obtain a license for opening a dispensary. You'll need to show that you're not just competent at running a business. It's not simple to obtain a license to operate a dispensary. Not only will you need to show that you are competent at running a business, but you'll also need to be able to respond to inquiries regarding how you'll keep goods and protect both your store and your cannabis.

You must be familiar with any local, regional, and national regulations that apply to dispensaries. Your application may be denied if you don't give thoughtful responses. The cost of a license for a cannabis shop is the second problem with licensing. The cost of licensing alone can reach six figures in some circumstances. Licensing is a significant hassle and a major expenditure because this is before you are even given the go-ahead to conduct business.

2. Banks Won't Rush To Aid You

Since cannabis is a Schedule 1 substance according to the federal government, most banks are mostly worried about being implicated in money laundering. Even while you might be able to open an account, it won't provide you access to things like debit card payments or bank accounts. This implies that the majority of your transactions will be in cash.

The challenge of storing and protecting such currency arises from the fact that most transactions are made in cash. Some owners of marijuana dispensaries are forced to use armored trucks to transport their money to federal reserve institutions, where it is later deposited into nearby credit unions. The SAFE Banking Act, thankfully, offers optimism. The law aims to give financial services, including loans, to cannabis business owners.

3. Designing Your Dispensary

A successful marijuana shop has a spacious, welcoming design that encourages consumers to feel comfortable perusing the inventory. It cannot feel crowded or disorganized. In addition to this requirement, your floor plan is also governed by city, county, and state laws. This might not be a problem if you're starting from scratch with your dispensary. Operating in a pre-existing structure, however, can make this demand more challenging. Additionally, you must make your dispensary handicap accessible, which may necessitate planning or major upgrades.

4. Managing Cannabis

Having a cannabis dispensary will require a great deal of understanding of the direction the cannabis business is heading. You'll need to be knowledgeable about the most recent strains, technology, and even edibles and drinks. This can be a lot to keep up with given how quickly the cannabis market can change. Customers will go to a dispensary that has the newest and best items or services if you fail to provide them with the best.

5. Finding Good Help Is Difficult

Any firm can be said to be like this. Finding competent assistance is challenging in the cannabis market, though, which is unusual. Since the cannabis industry is still in its infancy, very few people have formal schooling in the subject. It is one thing to have staff members with sales and customer service training.

Employees in a cannabis dispensary must be aware enough of the product to offer suggestions to customers. In addition to being informed about strains, they also need to be knowledgeable about edibles, dab rigs, and vaporizers. Starting a cannabis business has its special difficulties. You can overcome these obstacles, though, and you can succeed.