Starting a Dispensary in Missouri
Opening a dispensary in Missouri requires an estimated start-up cost of between $85,000 and $150,000. The application fee for a dispensary license is $6,000, and the annual license renewal fee is $10,000. To open a dispensary in Missouri, you must be a state resident for at least one year, with the majority owners being Missouri citizens. Applicants must have a clean criminal record. Consider hiring an experienced professional to assist with the complex application process.
Steps Before Opening a Missouri Dispensary
- Pre-file the application fees as soon as possible, then thoroughly complete the full application once released.
- Prepare all required documentation ahead of time.
- Have your business information organized and ready.
Additional Information about Missouri Dispensaries
- Dispensaries track how much cannabis each patient purchases per day, with limits of up to 4 ounces over a 30-day period.
- Missouri requires dispensary owners to be state residents for one year with no criminal record.
- As an entrepreneur, expect significant upfront costs like the $6,000 application and $10,000 annual licensing fees.
Dispensaries’ Financial Aspects
- Medical and recreational marijuana cannabis dispensaries usually operate with an average net profit margin between 15 and 21 percent after accounting for taxes.
- The startup cost is anywhere between $150,000 to $2 million, depending on the size of the business.
Regulatory Considerations
- Consider supplementary services like cultivation, manufacturing, distribution, and testing.
- Dispensaries are highly regulated so study the compliance issues and tax structures.
Investment and Funding
- Financing options include loans and investors.
- Securing capital can be challenging as traditional lending is unavailable.
Home Cultivation ID
When you add a home cultivation ID onto your Missouri marijuana card, you get the benefits of growing your own medical marijuana plants at home.
Licensing Fees and Expenses
- The application fee for a medical marijuana dispensary license in Missouri is a non-refundable $6,000, and the annual license renewal fee is $10,000.
- Property and Cannabis Zoning. Renovations to create the right look and feel for your dispensary can also run anywhere from $25,000 to $50,000.