Have you been trying to find the best business venture to invest your hard earned money in Canada? Then you need to give good thoughts to setting up a cannabis dispensary in your province. However, it is important to note that some provinces curtail its residents in setting up private run cannabis dispensary. Nevertheless, setting up a cannabis dispensary is a very good venture that assures you of massive returns, especially due to legalization of cannabis in Canada. This article therefore will highlight what you need to do, when setting up a dispensary in Canada.
Setup the corporate structure of your dispensary
The number one thing that you need to do when setting up a cannabis is coming up with its structure. In so doing therefore, you will need to choose the name of your dispensary, get a federal tax identity number, consider the financing options that the dispensary will incorporate as well as registering your dispensary with the local authorities. In case you find it hard to crack, just get the help of an attorney, as he or she is well versed with the procedures of setting up a business structure.
Identify the location to set up your dispensary
You will need to set up your cannabis dispensary in a good environment for your trade. As stated earlier, there are some provinces in Canada which do not accept private run cannabis dispensary, as such therefore; you will need to do thorough research about the location that you decide to set up your business. In addition, choose a location that is strategically located putting in mind your target clients, as it will determine the level of sales that you will make.
Acquire the necessary licenses
After you have made sure that the location you want to set up your business is up to the task, you can then go ahead and apply for licenses. It is worth noting that these licenses are applied from the municipal authorities of the province you want to set up the dispensary. Different provinces have different guidelines and requirements that you need to meet and therefore, it is advisable to do thorough research of what is required of you.
Set up your dispensary construction
After you have acquired the necessary licenses, you have the green light to put your business vision on track. You will therefore need to construct your cannabis dispensary, where your clients will be accessing your services from. Make sure that the construction that you put up meets the local municipality requirements, so as to avoid having a run on with the authorities. In addition, before open your doors, you need to make sure that you have a list of cannabis products that you intend to sell.