Legal medical industry in Arizona
Those interested in opening a medical marijuana dispensary in Arizona must carefully adhere to a number of rules and regulations, both state wide and in your defined zoning area.
Now that the Arizona Medical Marijuana Act has gone into effect, the state will allow medical marijuana dispensaries to be founded. While the program is currently on hold, once lifted, the first dispensaries will become operational when the Department of Health Services officially releases the licenses. As is the case with any business, opening a medical marijuana dispensary takes planning, and getting financial backing is one of the most important elements of this planning process.
A dispenser requires a significant financial investment to get up and running – at least until it generating enough in revenue to fully sustain itself. This may be a bit tricky though, since many local banks are not willing to provide financing for this type of venture. Realistically, you’ll need at least $150,000 in liquid funds to be considered to receive a medical marijuana dispensary certificate, if there are more than one applicant in the CHAA Zone you are applying for.
Given the issues one faces through traditional means of business funding, you might consider finding an angel investor. An angel investor is an individual who makes relatively small-scale, targeted investments, and typically will provide you with the financing you need in one of two ways – debt or equity.
A medical marijuana dispensary is just like any other business, and requires all the things a normal business does, including careful planning in the beginning. The main difference is that when opening a dispensary, you may face additional challenges, given the nature of the type of business you are trying to open.
Stay up to date on the latest news and information on dispensary licenses issued by the state of Arizona by joining the Arizona Hemp Center's community of Medical Marijuana enthusiasts
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