Prices on packaging materials are going up 2% next quarter
It cost a lot of money to open a marijuana dispensary and even more to keep that business running and thriving.
When my wife and I talked about opening a marijuana shop, we thought it would be just as easy as opening any other small business.
Unfortunately, the government makes everyone jump through 100 different Hoops before they let you get a license for selling marijuana. We had to hire a lawyer to help us fill out all of the paperwork and the fees to get a business license were almost $3,500. The paperwork came back once with an error, but the lawyer didn’t charge us anything extra to fix it. It took 6 months to open the business and most of our other businesses only took 60 days. The marijuana dispensary definitely generates more money than any of our additional small businesses. Each month we make about 15% profit on all of the sales. Of course, that profit can be cut if the prices on packaging materials go up next quarter like they are scheduled. I received an email from the company that packages all of the Cannabis flower and concentrate for the dispensary. Prices on the packaging materials are going up 2% next quarter. 2% might not sound like a lot to an average person. That’s only two cents on the dollar. Most of us put two pennies in the collection box and never think about it again. A 2% increase in packaging for the marijuana dispensary will actually cost us an extra $300 every week and there is no other company that handles bulk orders.