How Much Does It Cost to Open Dispensary in DC?

Oregon: Cheapest state to open a dispensary. Dispensaries can make $1 million to $4 million, with an annual profit ranging from $100,000 to $1.2 million. Necessary financing is extremely profitable.
Oklahoma: One of the cheaper states to open a dispensary. The licensing fee is $2,500 with operational costs between $80,000 to $150,000. Monthly expenses are around $50,000.
Alaska: Ranks among the cheapest states to open a dispensary due to a favorable legal and licensing environment. It is a good place to start a cannabis business with no sales tax.

Choose a state that has legalized marijuana, as 37 states have already done.
Consider various factors while choosing the location for a dispensary, such as allowance for dispensaries, population support, and the cost of doing business in that state.

Long-term retail cannabis profit margins typically hover around 15 percent.
Opening a dispensary in Washington comes with a 17% excise tax on retail sales, making it the second-highest in the country.

Arizona and New York: Growing markets with plenty of opportunities for entrepreneurs to start a cannabis business.
Massachusetts: Has an application fee of $1,500 to open a dispensary, with an annual licensing fee of $10,000. Despite a high competition among dispensaries, the state has seen gross sales over $3 billion since November 2018.

South Dakota: It is complicated and costly to open a dispensary, with a $5,000 application fee and additional fees required by counties. Sioux Falls has a licensing fee of $100,000 biannually.

Washington and Oregon are considered the easiest states to open a dispensary, attracting favorable conditions for multi-state operators to expand their cannabis businesses.