Cannabis Dispensary Business Plan

Author: Lois Miller
Major: Business Administration
Approved: Fall 2020
Status: In progress

My project will be the creation of a business plan for a marijuana dispensary. The plan will involve information on starting a dispensary and how it will be operated since marijuana is still federally illegal, which causes a lot of problems for everyone involved. Nonetheless, it’s still possible to do and I want to do it the best—licensing money, the money required for navigating a business that’s federally illegal, etc. I plan on talking to someone in NORML (National Organization for the Reform of Marijuana Laws) as well as dispensary owners. It will also include possible figures for the operation of the dispensary as well as for either growing the cannabis myself (growing for the purpose of supplying the dispensary) or buying from reputable suppliers. I believe I want to grow my own cannabis, so I need to know the necessary costs involved (building for growing, lights, soil, electricity for the lights, and other utilities). Ideally, I’d like this business plan to be one that isn’t just for Virginia, in case I want to move after graduation. Since laws are different everywhere, that will be hard. Regardless, I want this plan to be as versatile as possible (despite us not knowing what Virginia’s laws and requirements will be). I want my dispensary to be a one-stop shop—one can buy flower, wax, edibles, CBD, cartridges, and more. I will likely want to have a house brand of products, so I’ll also want the machinery necessary for safely crafting and dosing such things. Of course, I’ll also need the costs for starting any business (whether it’s a dispensary or not), such as the building for the dispensary itself (if different from growing building), employees, utilities, fees/costs associated with starting a business, etc. I also plan to do marketing research.