95 Pages
English

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Start & Run a Marijuana Dispensary or Pot Shop

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Description

- There are more than 1.5 million medical marijuana patients in North America.
- Two states, Colorado and Washington, have legalized marijuana sales.
- Other states are expected to follow suit following the 2016 U.S. election.
- Several Canadian cities are rapidly expanding the number of dispensaries.
- The 2015 Canadian federal election could lead to decriminalization of marijuana.
- This book is the latest in the Start & Run series of books that have been a staple of Self-Counsel’s business for decades.
- 'Start and Run a Marijuana Dispensary' is a guide to create a business model and an operating plan to legally dispense marijuana and its related products.
- This is the definitive guide on how to start and run a legal, viable marijuana dispensary.
• Avoid legal problems
• Maximize your earning potential
• Create a sustainable business
• Develop a business model and an operating plan to legally dispense marijuana and its related products
As laws change, North Americans are gaining greater legal access to marijuana through local dispensaries. But the rise of the dispensary brings a mountain of challenges. This book treats the fledging industry as a serious prospect and identifies the best practices to start and run a dispensary. From business basics to ensure sufficient cash flow, to science basics to ensure proper sourcing and care of the products, author Jay Currie walks dispensary owners through the important and subtle steps to a successful and sustainable business. 'Start and Run a Marijuana Dispensary or Pot Shop' is a guide to create a business model and an operating plan to legally dispense marijuana and its related products.
Introduction: The Green Rush and You ix
1 A Quick Self-Assessment 1
1. Who Are You? 2
1.1 Criminal record? 2
1.2 Employment 2
1.3 Spouse or partner 3
1.4 Solvency 4
1.5 Good credit? 4
1.6 Reputation risks 5
1.7 Professional risks 5
1.8 Support of friends and family 5
2. Personality Traits 6
2.1 Detail minded 6
2.2 Organized 6
2.3 Willing to co-operate with licensing and
regulatory officials 7
2.4 Addiction issues 7
3. Business Experience 8
3.1 Have you worked in retail? 8
3.2 Have you ever run a business? 8
3.3 Have you ever owned a business? 9
3.4 Have you ever had employees reporting to you? 9
4. Opportunity Cost 10
4.1 What are you doing right now? 10
Contents
iv Start & Run a Marijuana Dispensary or Pot Shop
4.2 What is your time horizon? 11
4.3 Personal exit strategy 12
2 Preliminary Business Matters 13
1. Professional Advice 14
2. Consultants 15
3. Banking 15
4. Marijuana Licensing: Walk-through 16
5. Incorporation 17
6. Rules on Ownership and Management 18
7. A Clean Application 18
8. Capital 19
8.1 How much will you need? 19
8.2 How much do you have? 23
8.3 A number 24
9. Resources 24
3 Writing a Business Plan 27
1. Your Business Plan Is a Marketing Piece 27
2. It’s Your Business Plan 28
3. Business Plan Content 30
3.1 Cover page and table of contents 31
3.2 Executive summary 31
3.3 Mission statement 32
3.4 Business description 33
3.5 Business and regulatory environment analysis 33
3.6 SWOT analysis 34
3.7 Industry background 34
3.8 Operations plan 36
3.9 Competitor analysis 36
3.10 Market analysis 38
3.11 Marketing plan 39
3.12 Management summary 40
3.13 Financial plan 41
3.14 Attachments and milestones 49
3.15 Exit and/or succession strategy 50
4 Marijuana: A Primer 51
1. Potted History 51
2. Current Medical Uses 52
Contents v
3. Types and Effects 53
4. Alternatives to Smoking Marijuana 54
5. Marijuana Cultivation, Harvest, Drying, and Curing 55
5 The Legal Situation 57
1. Understanding the State of the Law 57
2. Decriminalization versus Legalization 58
3. Business Risk and the State of the Law 59
4. Canada, Oh Canada 61
6 Branding, Marketing, Advertising,
and Location 65
1. Branding 65
1.1 Look and feel 66
1.2 The design brief 67
2. Designers, Architects, and Merchandisers 68
2.1 Target market: Local focus or out of towners 69
3. Creating the Retail Experience 69
3.1 Curb appeal 71
4. Location 73
4.1 Foot traffic, destination stores, clustering 73
4.2 Zoning and legal issues 75
4.3 Neighborhoods and districts 76
4.4 Commercial real estate agents 77
4.5 Commercial leases, closing dates, and lawyers 78
4.6 Security 79
5. Advertising, The Internet, and Location 80
6. Marketing 81
6.1 A word on costs and ROI 81
6.2 Being found 82
6.3 Market segmentation and targeting 82
6.4 The web 83
6.5 Apps and phones 86
6.6 Push marketing 87
7. Local Marketing, Advertising, and Public Relations 87
8. The Power of the Press Release 88
8.1 Know your journalist 88
9. A Good Advertisement 89
9.1 Have a story 90
vi Start & Run a Marijuana Dispensary or Pot Shop
9.2 A not very well-kept secret about advertising and
its negotiations 91
7 Security 93
1. Regulatory Requirements 94
2. Security and Loss Prevention of Cash and Product 95
3. Security Is a Cost of Doing Business 99
4. Insurance as Security 100
5. Canada 100
8 Human Resources 103
1. Contract Employees or At Will 103
2. Hiring Staff 104
3. The Hiring Decision and Papering the Deal 105
4. Nondisclosure Agreements 106
5. Employee Manual and Training 106
9 Open for Business 109
1. Checklist and Timeline 109
2. Soft or Hard Launch 110
3. Community 111
3.1 A good neighbor 112
4. So Now Your Store Is Open 113
10 Growing Your Business 115
1. Getting to Breakeven 115
2. Past Breakeven 118
3. Thinking Bigger 118
4. Thinking Smarter 119
5. An Exit Strategy 120
Download Kit 122
Samples
1 SWOT Analysis for a Duncan, BC, Medical Marijuana Dispensary 35
2 Income/Expense Worksheet 43
3 Cash Flow Projections Worksheet 44
4 Balance Sheet Worksheet 46
5 Start-up Costs Worksheet 47

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Informations

Published by
Published 15 October 2016
Reads 0
EAN13 9781770404700
Language English
Document size 1 MB

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