everyone,
what are your thoughts about opening up Cannabis retail store in California, what are the risks, any experiences you can share, any advise you can think of. I would really appreciate your expertise and time.
thanks in advance.
This is an automatically-generated Wiki post for this new topic. Any member can edit this post and use it as a summary of the topic’s highlights.
That cops show up, trash your store, and eat your inventory?
1 Like
I would wait and see how the the Attorney General’s “new” guidelines for federal law enforcement flesh out before investing anything.
4 Likes
that’s true…
but if all laws in favor of this business, what are things i should be careful about.
Are you in California ? It’s not as simple as just starting a business filing for a business license
Not all cities are allowing canbiz and out of the ones that do, there are strict regulations on number of stores
Almost all licensed canbiz permits have already been given out to existing operators of medical mj storefronts
yeah, i am in California.
I am talking about recreational Marijuana.
What SIS is saying is that the existing Medical stores are the ones who have been given the retail permits. They sell to non-medical patients with tax and to medical w/o (I think, not like i would know).
1 Like
It’s not like opening a subway. Cannabis is as much a lifestyle as anything else. Unless you are in with the right crowd, I don’t see it being an easy market to break into.
1 Like
My cousin and his wife own a small retail cannabis store in Denver. It has done quite well for them but they also started up when the law first legalized selling. Some of his experiences have been quite interesting.
They deal primarily in cash and can’t use any federal or local banks for deposits. They pay for everything in cash and he has to carry tens of thousands of dollars to pay his business and property taxes to the local govt. That to me would be a huge risk of being held up at gunpoint. He has several large safes in his storefront for the cash and product. He has to hire storefront security, etc.
He also has mentioned the huge fees to get permits to do business that other businesses don’t have to deal with. The industry is very regulated and now hard to get into, as SIS mentioned, becoming permitted and licenced to sell.
It’s also interesting how the large warehouse growers have been able to shoot up in the locale. He has about 15 employees now and small time compared to some but he has had a very interesting life experience with the business.
3 Likes