Even if you are not involved in the cannabis industry, you will have realized that there has been a shift in the legality of cannabis nationwide. In many states, medicinal marijuana is now legal and in others, it is now possible to use cannabis recreationally as well. With this development, many would be entrepreneurs are opening dispensaries in their local area, and in the process creating thousands of cannabis jobs for the local community. Many of these dispensary owners have generated wealth that is more than their wildest dreams.
Of course, there are dispensaries that are not as successful, but if you work hard and have excellent customer service, there is the opportunity to make a lot of money.
One dispensary that is often cited when talking about the money that dispensaries make is Harborside Health Center. Last year, they unveiled that they had revenue of $22 Million for the year. Sure, not every dispensary earns close to this amount, but it just goes to show what is possible when you put your mind to it.
Surveying Dispensary Owners
In the latter part of 2017, a survey was conducted of dispensary owners in the US, and it provided some interesting stats. 60% of dispensary owners answered that their turnover was less than $500k. This shows that not every dispensary succeeds, so it shows caution needs to be shown before you go ahead and start one of your own. But, in saying that, a quarter of dispensaries interviewed said that their revenues were over a million dollars. To reach that sort of level, you need to have many thousands of returning customers, but this can be done over a prolonged period of time if you build up a good reputation. Sometimes there will be a limit as to how far you can grow your business, as there are different local regulations, which can put a spanner in the works. Licensing is stricter in some states than others.
It will be interesting to see in the coming years how well these dispensaries do. The more respondents that take part, the more accurate information we can collect about the heath of the cannabis industry as a whole.
To see if running a dispensary is for you, it could be a good idea to work in a dispensary for a few months and learn the ropes. You can use the cannabis jobs near me tool on Cannabis.net to find jobs local to you.