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How to Start a Cannabis Dispensary Business | Legally

so how do you build and start your own

cannabis dispensary business from

scratch legally without having to worry

about the boys being on your back that's

going for the cops by the way the red

and blue guys after you because you're

selling that green stuff that ganja

stuff well how do you build your own

dispensary from scratch and you know

without being a millionaire

okay now this video I'm gonna talk about

the startup cost the expenses and on top

of that most importantly the profits how

much money will you actually make now on

top of that I do want to clarify one

thing here guys I said you know I've

read a bunch of articles out there

saying you know Tommy you need around

500k to two million dollars to get

started and the answer is no that's

insane

same people that say like you know you

need around to repeat does knowledge for

like armed employees the answer is no

just don't hire them any people you need

this much for inventory well just don't

buy that much to the business picks up

well you need this for real estate well

just maybe just rent in a very precise

area while you get things going

oh no Tommy you need a million bucks

we're starting to real estate no just

buy like a house you know for like I'm

pre percent down or just saying start

YouTube without all the fancy equipment

that way guys the whole concept is that

you don't need a ton of money to ever

start any business usually it's a

license you know the real estate all

this fancy stuff but usually that all

depends on your budget and where you

actually want to place the business so

don't believe the height between 500k to

two million dollars that's impossible

almost for the average person so in this

video I'm gonna break down real

realistic budgetable expenses when it

comes to this business so let's get

started now if you guys don't know me my

name is ty Bryson I'm an accountant and

I open videos on YouTube every single

day structure telling hit the boss to

get notified and on top I do me a favor

and smash smash like button gently

though please don't hurt the screen and

guys on top of that here's the question

for you okay what makes you so excited

about the cannabis industry or

dispensary industry because I've gotten

a bunch of requests and if you ask me

guys you know this business this market

is booming because again it's legal now

for recreation in some states out there

and also for medical use in some states

out there and now because of this and

it's being taxed now well now its

booming because now the average person

can go out there

do it they buy it to do whatever they

want with it and they have different

brands this one's this one this one is

that one and now there's a lot of hype

around the entire thing now let's get

started into the video and talk about

exactly how do you get started however I

do want to mention one thing here guys

and it's that you know when it comes to

this business you have to take into

account guys that is all about the legal

stuff okay it's not like signing on the

streets we don't recommend don't do that

however it is all about the location you

pick because although it is legal in

some places it is not legal across the

board over the world or all over the

United States now the first thing is

this guys it is only legal on for

medical use on around 24 states

just to clarify that so only 24 states

accept dispensaries for medical use on

top of that only nine states accept

dispensaries for medical use and also

for recreational use for you just like

hanging out with your friends or trying

to do it for fun you can pick to get

into the industry of medical or the

industry of recreation and it's

basically all the same however you know

you make some more profits on one side

then the other side one side most volume

or sales or that fancy stuff so depends

on what you want to do what state you

want to live in choice you do this

entire thing okay now let's get started

and talk about the start cost the

expenses and also the profits now the

first thing you need to know is that

when it comes to a start-up cost you do

think about one thing here and it's all

about the licensing okay the licensing

is the most important thing because you

can't get a license you can't start

legally and what's the sense of trying

to do its business illegally it doesn't

make any sense okay so the first thing

is you to license not to get this

license I have bad news and also good

news the good news is that you can

always buy an existent business and it's

a user license and just carry that out

the bad news is that the state only

gives that a limited amount of licenses

which means that however you might have

all the money to get started everything

you want to but the state might not

approve it because they don't have any

more licenses so if she gives you out

there at the moment okay now they're

very vague to when they're actually

gonna issue somehow for example in

Washington they're actually not issuing

any

whatsoever currently if you're on the

website so it all depends on the stage

where she going to getting that license

and you can't get it just by a business

that has one if you can't afford it if

you can't afford it you just end up to

pause it for a little while and get

creative maybe go to another stage and

see what they have over there to offer

you now the second thing guys when it

comes to serve cost it's all about well

you know retailer license because

although you might have a license once

you get started

you also need a retail license when she

sold that stuff on the streets legally

from your own dispensary now this

license might range between one thousand

maybe like fifteen hundred all the way

up to six thousand dollars and on top of

that a mine also have a recurring charge

every single year now tell me why don't

you give me the exact figure well the

answer is it ranges by state remember

there are 24 states that accept it for

medical use and nine states and accepted

for medical use and also recreation so

remember that I can't give you the exact

figures because all the states are

different and they all range when it

comes to the numbers that the any charge

the people for starting this business

now again guys when it comes to serve

costs you will need a location inventory

and also employees I'll go more into

detail when it comes to stuff but

usually you know the location well

probably the most expensive stuff

because again when you have a dispensary

you can't put it next to a school

like a deli or a store you can't do that

you know as a as a cannabis store you

can't put next to a school so you think

about the location and also need to be

approved by your state which is fair if

you ask me and on top of that employees

and also inventory of actually buying

the cannabis and holding it and then

selling it and it comes to employees you

can pay them between minimum wage or

higher depending on what you want to do

now this is why I don't agree with the

500k to two months to start because

again you don't need to pay your

employees $1,000 an hour you can arrange

it between what you want to by the way I

think the minimum wage in California is

around $12 an hour so why are you saying

that you need to spend around two

hundred and fifty K on employees and

most of these articles out there that's

why I don't believe all the hype when it

comes to those articles maybe not

minimum wage

however what are you doing you know it

just doesn't make any sense now

let's talk about the

expenses of this business because every

business out there has expenses and this

one does not exclude the standard now

when it comes to expenses guys we have

to think about the space the real estate

we actually put in this entire business

there now the pro is you have probably

benefits when it comes to place in this

business because usually people will be

open to this because they know they can

charge your premium because you will be

selling cannabis which is extremely

tricky to actually get into that

business so usually people rent into you

landlords will actually want to rents

because they can probably charge you or

premium so their rent might range

between two thousand all the way up to

fifteen thousand dollars depending on

where you're putting into the location

and if it's actually approved by our

state's that's how complicated it is so

again I've heard about a friend of mine

my accountant told me little Tommy I

have this one clients and he put one of

these locations well he didn't put the

location and yet he has someone coming

in to rent his real estate so he put in

Spencer e there he's gonna charge them

around fifteen to sixteen thousand

dollars a month which is insane if you

ask me but it is one of the pros of

being owner of a property to them rent

it to a dispensary so you have to think

about the state where you're gonna put

it and if they charge you way too much

on top of it we have employees minimum

wage all the way up to how much we want

to pay them plus the benefits and all

that fancy stuff which depends based on

your state so I can't give you an exact

figure but I know for sure in California

the average minimum wage not an average

its minimum wage is run twelve dollars

an hour which is not that bad at all if

you ask me now when it comes to

inventory I have good news and bad news

and here it is the inventory is actually

around one thousand four hundred and

sixty four dollars per pound of cannabis

depending on the brand because again

this stuff is like Gucci and for example

like Hanes t-shirts you know you have

this brand here it doesn't same exact

one is this one however this one has Wiz

Khalifa's name attached to it and this

one is just normal stuff so now you're

talking about this was more expensive

but it's the same exact one as this one

but you can charge a higher price based

on the entire leg brand attached to

so you might get charged between one

thousand forty dollars per pound which

is around the area of around you know

like a dime bag that's around nine

hundred and six dime bags because they

adds up to around four hundred and fifty

three grams 1 pound of cannabis is there

on four hundred and fifty three grams of

cannabis okay now this is important

because I'm gonna break this down later

on when it comes to the profits now

behold guys we're here at the profits

the most important part and it's Tommy

how much money can I make from this

stuff okay it's the most important parts

here we are

Oh before we actually talk about the

profits I almost forgot guys you do need

to have a legal team structured in place

for your business because again you make

sure you are in compliance so I would

probably hire a compliance officer to

help you with all this stuff now

compliance officers range in their price

is dependent on the business the states

and all that fancy stuff so if you want

to know the price for that stuff you

have to go out there on Google and kind

of search it up we're just not that hard

at all because it might range from like

nine dollars an hour all the way up to

thirty dollars an hour depending on who

you want to hire and a compliance

officer to make sure your compliance

with everything and your business

doesn't get shut down now let's go into

profits the first thing is this guys

when it comes to profits you have to

consider that you have for example

medical and then you also have you know

recreational now tell me what's the

difference here usually from medical I

noticed a little hiccup here where

medical is that he charged up at a

higher margin especially in California

by a little bit but not better lots and

if you ask me tell me why the answer is

probably you know you have insurance

paying for this stuff and you have

normal people paying for recreation so

who can pay more money probably

insurance because people's pockets

aren't as deep as insurance companies

that's probably why if you ask me now on

top of that we have to also think about

the brand of the cannabis so if you're

going with a brand which is very popular

like a Gucci shirt or whatever or you're

going with the B brand that's kind of

like more regular for the average person

that wears Hanes t-shirt like I do well

it might be like hey I can charge this

much for this one or this much for this

one so the profits range on the brand

yes you offering and usually the brand

will probably take some money out of

that and charge you a premium on it also

so

that's all things you want to think

about when you're actually going into

this business I Tommy what are the

actual figures when it comes to this

business talk about numbers brah when I

hear the numbers the números well here

we go guys here's my fancy calculator

we're gonna pull it up here we wrote

what I told you guys okay I told you

guys that the average price for a pound

of cannabis is around fourteen sixty

four okay so is the average price so we

know that in one pound

we have around 453 grams so if we divide

this price of one pound divided by the

amount of grams which is four hundred

and fifty three we get an average price

of run three dollars per gram for the

cost this is the cost guys the cost of

the business the dispensary so the cost

for them since you get a gram is around

three thousand twenty three cents

however I'm pretty sure you can probably

get lower prices depending on the volume

actually acting for from that

distributor now Tommy how much money can

I make from this well in reality

afternoon some researchers out there

Justin see right here in California the

gram of cannabis ranges from around ten

eighty two all the way up to thirteen

fifty two at the high end depending on

the quality and all that fancy stuff so

tell me what are you saying here the

answer is guys if one gram well

one pound is around say for example one

pound I think is around 453 grams which

is fine and if you times that by the

average silver gram in California which

is maybe at the high end around $13.32

this means that time is 13 point 52

cents that means that you're making

around six thousand one hundred and

twenty-four dollars why your cost might

be like fourteen hundred dollars that

means that your profit is around four

thousand seven hundred dollars okay with

just a lot of money now Tommy what do

you mean right it's okay because I can

go to the store and get a pound of

cannabis in California for around like

seventeen hundred to maybe eighteen

hundred dollars and in the streets I can

probably get it for two thousand dollars

well the answer is it all depends based

on volume so for example if you're

selling grams like this you know you're

selling grams

well the price is probably lower well

low

in a sense but the amount or she getting

it's actually lower also so you might

sell more money or make more money by

selling like lower portions and just

like pricing it up a little bit

however when you sell like a bulk of its

you can't charge that much above the

market value or the cost value so for

example if it costs you around fourteen

sixty four it gets and you're selling it

at the store on average in California is

around seventeen dollars at the low end

and eighteen sixteen at the high end

while eighteen sixteen that still means

you're making around three hundred and

fifty dollars in profit which is not

that bad if you ask me so imagine if you

have three hundred fifty dollars and you

divide this by for example twelve

dollars for the average employee that's

around twenty nine hours worth of work

so what I'm saying this guy's you can

probably make a ton of money from this

business it's pretty solid if you ask me

however you're probably wondering Tommy

do you like this business but before I

do that comment down below and let me

know what do you think about this

business do you like it do not like it

do you think it's cool you think it's

not cool comment down below let me know

because again it's a growing industry

because we have this little trend here

and the hype of hey it's brand new

not really it's been around for a while

but now we can actually sell it for

money make a profits by the way don't

forget about the taxes because now taxes

are involved and the stakes love that

also and if you ask me Tommy do I like

this business the answer is it sounds

pretty cool man I would I get into it

probably like not it's not really my

thing

however if you are into it you like that

type of stuff and you're super cool

about it then that is awesome it's your

group is beginning to by the way the

profits are there everything is there

the entire problem would probably be the

biggest challenge is all about you know

getting the license so your party any

connections for that so I highly

recommend if you want to do this get a

proper lawyer a good one a good

compliance officer to make sure your

application reaches the entire

impediment when it comes to actually

having the best chance but probably

it'll come down to having connections

and if you have a lot of money you just

buy one right out and they can just use

that license so I should run your entire

business which is fair game if you ask

me and on top of that guys that is all I

have for this video comment down below

and let me know do you like this

business and as always guys if you guys

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for watching as always and peace