Oregon as a state has a generally well-established cannabis industry, and was actually one of the first places in the United States to legalize recreational marijuana back in 2014. This makes Oregon an absolute hotspot with a lively consumer base and a gigantic demand for new products.
Some of the main features that pertain to Oregon specifically include the really prominent cannabis culture in the state, a market that is extremely crowded, and licensing that is somewhat affordable compared to other states.
You’ll just need to be mindful of market saturation and some of the regulations that could cause some challenges in the future.
The law surrounding marijuana in the state of Oregon is regulated by the OLCC, or the Oregon Liquor and Cannabis Commission. This group looks at all components of production, sales, and distribution. This is the main regulatory body in the state, and the Department of Revenue takes care of tax obligations that come into play.
It’s extremely important that you stay current and up-to-date with laws and regulations regarding cannabis in Oregon, as they change frequently. Making regular visits to the OLCC’s site or signing up for newsletters in the industry is a great way to stay informed.
After you get an understanding of how the laws work in Oregon, you’re going to want to assemble a detailed plan that fleshes out your projected finances, analyzes the market, and sets you up for strategic operation
You’re going to definitely want to take a look at your competitors to see what they’re doing.
From there, try to get an idea of your target market, consider which locations would be ideal, and figure out how much demand you’re projected to receive. This is important as customer preferences can be completely different town to town.
You want to be sure that you’re designing a plan that will keep your dispensary profitable and intelligently-designed.
The next thing you’re going to want to do if you’re trying to diligently get this dispensary off the ground is to find a location that makes sense.
Remember that with dispensaries, you’re going to have to follow specific zoning laws, which usually involves keeping them a certain distance away from schools and parks.
A good strategy that you might want to try out is to work with a real estate agent or a professional in the area who is familiar with cannabis zoning and work with city planners to make sure you’re complying with the law.
You’re also going to want a location that is has a lot of foot traffic, preferably something in an urban area or in a place with a large population-density. Remember your goal is to get the most bang-for-your-buck on your rent and marketing, so you’re going to want to be in a spot where you get walk-ins as well as online discovery.
Make sure that the location is set up correctly with Google Maps/Apple Maps and is easily discoverable. Even if this process takes a little longer, it’s going to be worth investing in these optimizations before you launch your business.
Now that we have our spot picked out, we’re going to want to file an application with the OLCC. This will involve submitting a lot of personal information and going through a background check.
They will also want to see your business plan, so make sure you have proofread and evaluated it before applying with them so you ensure you’re not wasting money on the application fee.
They will be looking for transparency and legitimacy, so do what you can to piece together as much information as you can to prove yourself. This will increase the chances of your application getting accepted.
After that, you’ll have to pay for your application, licensing fees, and annual renewal.
From there, try to put together your finances and find a bank that is willing to work with you. This sometimes can be difficult as federal regulations have prompted some banks to not want to work with anything involving marijuana.
Then you’ll need to put together your 24/7 surveillance, secure storage, and other kinds of anti-theft systems as the OLCC requires it. You’ll also need different specialized types of insurance.
From there, you’ll want to build your team of budtenders, including ones who pass background checks and have competent knowledge of the industry.
You’ll want people who have soli customer service skills, are familiar with the products you’re offering, and provide the consumer with a good experience. They of course need to be friendly, respectful, and offer valuable insights into what products the customers should be buying.
Once you have the team in place, you are officially ready to launch your cannabis dispensary in Oregon.
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