FAQ: How To Start A Dispensary In New Mexico?

How much does it cost to open a dispensary in New Mexico?

However, it costs between $30,000 and $100,000 to open a medical cannabis dispensary in New Mexico, so it would be smart to plan for at least that much, but even more if you’re playing it safe. Many of the associated costs and fees are non-refundable, even if you don’t secure a license.

What are the requirements to open a dispensary in New Mexico?

HOW TO OPEN A DISPENSARY IN NEW MEXICO

  • As an example, a non-profit producer that is licensed submitted a non-refundable license fee of: $30,000 for the first 150 cannabis plants.
  • $10,000 for each additional 50 plants – maximum of 450 plants.

How much capital do you need to start a dispensary?

The cost of opening a cannabis dispensary ranges from $150,000 to $2 million. That includes key costs of around $250,000 for annual staffing, $100,000 in yearly rent, and $50,000 for up-front renovations. Of course, everyone’s budget is different, and there are a lot of variables when it comes to capital requirements.

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How much do dispensaries make in New Mexico?

While ZipRecruiter is seeing salaries as high as $80,012 and as low as $16,798, the majority of salaries within the Dispensary jobs category currently range between $25,639 (25th percentile) to $47,300 (75th percentile) with top earners (90th percentile) making $66,751 annually in New Mexico.

What licenses do you need to open a dispensary?

There are three types of licenses are available for dispensaries;

  • Marijuana producer license.
  • Marijuana processor license.
  • Marijuana retailer license.

How much do Budtenders make in New Mexico?

How much does a Budtender make in New Mexico? The average Budtender salary in New Mexico is $33,012 as of August 27, 2021, but the range typically falls between $29,410 and $36,834.

How much is a medical card in New Mexico?

Cultivation of Medical Marijuana in New Mexico There is a $30 fee to apply for your PPL card every year. Much like your medical cannabis card application, it is important to include original copies of documents instead of photocopies. PPL applications must be mailed or submitted in person. 6

How do you get a growing license in New Mexico?

The New Mexico Plant Protection Act requires all plants businesses to be licensed. These are those that buy, sell, grow, or collect plants to be licensed with NMDA. To apply for a license, complete this application for a Plant Protection License. Submit with the fee to the address on the form.

Can you get a medical card in New Mexico if you live in Texas?

People living in Texas can now apply for a three-year medical cannabis card in New Mexico. In order to qualify for the program, patients must be seen by a New Mexico practitioner, and certified as having one of the state’s 28 qualifying conditions.

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How much does a dispensary owner make?

His report also notes that a dispensary owner with more than five million annual revenue will receive a $500,000 annual salary! (Cohen 2019). So, the daily freight would be about $13,700 for such a size of dispensary! A smaller company with estimated annual revenue of around one million will make about $27,000 a day.

How much does it cost to start a CBD?

While figures will vary depending on location and whether you open a physical shop or an online shop, you’ll need at least $5,000 up front to get up and running with your own CBD outlet. – Who are your customers? You’ll also need a marketing plan to attract customers before you open up for business.

Can you get a loan to open a dispensary?

How to get a loan to open a dispensary? Until cannabis banking reform passes, no major U.S. bank will loan money to fund a dispensary. But it is now possible to get a loan through a credit union or cannabis-specific bank.

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