Dispensary Startup Cost Michigan

Part of gaining approval to apply for a license in the first place means demonstrating your ability to operate and maintain a medical marijuana provisioning center or dispensary financially.

Dispensary startup cost michigan. This startup stand alone dispensary project will serve as a template to open other dispensaries and pursue other opportunities in the industry such as cultivation. Projected revenue year 1 2 3 400 000 800 000 1 200 000. But to give you a general sense of what it will cost to open a dispensary we suggest using 300 000 as a starting place. Cost of a marijuana dispensary.

Startup investment averages between 250 000 to 750 000. This sum can include everything from securing insurance hiring employees and renting a storefront. Startup costs 200 000 for stock equipment and leasehold improvements. Profits year 1 2 3 0 200 000 450 000.

With a large population of marijuana users and legalization set to come in just a few weeks michigan is one of the best places to start a marijuana business in the us michigan is the tenth state to legalize marijuana for recreational use with the law expected to go into effect starting december 2018. What is most important is that anyone who wants to open a dispensary know what the anticipated costs are up front so they know what to expect within reason and can provide a strong business plan and executive summary. The cost of opening a dispensary really vary depending on the county city and state requirements. On the other hand the start up cost for unregulated marijuana dispensaries for 2017 was us 100 000 while that for regulated dispensaries was 775 000.

Getting into the commercial marijuana industry in michigan will definitely cost some money but not as much as many think. The startup costs listed as necessary for a provision center are 300 000. The state s bargain real estate and lower staffing costs help keep ongoing costs to between 24 000 and 48 000 per month. Updated on january 9 2020.

Michigan issued its first recreational license on november 19 2019 and the state then began recreational marijuana sales on december 1 2019. To legalize recreational cannabis although medical marijuana has been legal in michigan since 2008 there was no allowance for dispensaries. Start up costs in different statescost of a marijuana dispensary. The applications come nearly a year after michigan voters approved a ballot proposal in november 2018 that legalized the use possession and sale of weed to adults 21 and older.

And the primary start up costs outlined here will vary widely depending on your specific location. However the new legislation sets up a framework for the licensing and operating of. What fees and startup costs to expect.