We are living in increasingly interesting times. Thanks to a nationwide push to make cannabis legal, states all over the map have begun to allow for legalized cannabis at the state level. This charge for legalized marijuana, starting at the state level, has helped to essentially reinvent how people look at cannabis as a whole. In fact, more and more people are looking to get into the legal side of the industry for themselves. This push for legalized cannabis has led to businesses opening up in every corner of the map. This surge in interest in the field of legalized cannabis is known as ‘the green wave’. If you are interested in potentially starting your own dispensary, you’ve come to the right place!
Starting A Legal Dispensary In Salem, OR
Starting a legal dispensary probably sounds like the coolest job in the world and who wouldn’t want to make that their career? What could be better than working closely with one of the most popular medicinal and recreational drugs in the world? Operating a Salem Oregon recreational dispensary takes more than just a passion for the product. In fact, if you are only passionate about the product while lacking understanding in other aspects of the field, you could be in big trouble. Today, we are going to look at a few ways that you can improve your odds of succeeding as a dispensary owner.
1) Understand Your Market – It is going to take more than just a fascination with cannabis in order to succeed as a dispensary owner during the Green Wave. You can’t just be familiar with the product itself, you also have to understand the market. Do you understand margins for pricing? Do you understand state and federal regulations? There are a great many facets to running a dispensary that you won’t find in other retail environments.
2) Hire The Right People – We’ve weighed in heavily on fascination vs. understanding and that continues during the hiring process. It takes more than just being a cannabis fan in order to succeed in the retail environment. Consider hiring people by focusing on prior sales and management experience rather than ‘industry’ experience. It’s easier to train a seasoned retail employee for the cannabis industry than the other way around. Your business will live and die based on how effectively your employees operate.
3) Stay Abreast Of Politics – The legal dispensary world exists on a thin hair of reality. The truth is, marijuana is still illegal on the federal level and all it takes is one Attorney General with a grudge in order to set your business back. Stay abreast of politics, follow the national news relating to your industry, and be ready to adjust your business as needed. There are no guarantees until marijuana is passed at a federal level, so understand that there is risk involved! If you understand the risk and know what is being asked of you, succeeding as a dispensary owner is definitely possible. Use our guide in order to prepare you for your journey ahead!