With the relaxation of medicinal and recreational cannabis laws in many states in the USA, it has never been a better time to get involved in the cannabis industry. Dispensaries are popping up daily and creating many new high skilled cannabis jobs in the local area. Many new dispensary owners are achieving tremendous success with their new business venture, giving them financial freedom that they could only dream of previously.
While there are a number of successful dispensaries, there are of course some which don’t fare quite as well. If you work hard to make the business a success, then the world is truly your oyster. Some of the most successful dispensaries earn millions of dollars a year in revenue, and wouldn’t it be great if you were the next success story with your own dispensary?
A Survey of Dispensary Owners Uncovers Some Fascinating Findings…
In the latter part of last year, there was a survey that was conducted of dispensary business owners in the US. Of those dispensary entrepreneurs surveyed, it was found that 60% of dispensary owners found that their turnover was less than $500k. Of course, many of these dispensaries are only in their first couple of years, but it goes to show that not every dispensary is an overnight success. At the other end of the spectrum, 25% of dispensaries interviewed said that their revenues were over $1 million dollars a year. This shows what is possible!
Sometimes there will be a limit as to how much a dispensary can grow, as many states have different regulations about how big businesses can grow and develop. Starting new dispensaries in neighbouring states for example can be challenging, especially if you unaware of the local regulations in place. Licensing is stricter in some states than others.
It will be interesting to see in the coming years how well these dispensaries doand let’s hope the surveying continues so we can get an annual look at the state of dispensaries here in the US. The more respondents that take part in these surveys, the more accurate information we can collect.
If you have never worked in a dispensary before, it may be a good idea to work for an existing business before starting your own dispensary. You can use the cannabis jobs near me tool on Cannabis.net to find jobs local to you if you are interested.