Marijuana markets create rules and procedures in the industry. This means there are high fees for marijuana businesses. These rules and procedures include fees from state and local governments. Although these fees are high, local governments expect an increase in law enforcement costs. Our marijuana business consultants at Quantum 9 are here to explain how these fees look.
Marijuana Fees are High
First, those interested in Illinois dispensary ownership have to pay an initial fee of $5,000. In addition, they have to pay other fees such as permits and annual renewal fees. So, the additional fees from local and state governments add to the abundance of fees.
Although the high fees for marijuana may be frustrating, they are necessary. As featured in Marijuana Business Daily, Michael Mayes of Quantum 9 explains how the local high fees for marijuana are understandable. He states “I don’t necessarily think it’s the local municipalities taking advantage of the situation, it’s just that they’re preparing for the worst-case scenario.” He adds that since marijuana is a Schedule I federal drug, people are taking precautions.
Security for Marijuana Businesses
These precautions are of reason, but the high fees for marijuana law enforcement are not necessarily needed. This is because the security requirements for medical marijuana companies are usually strict. So, this security often brings down law enforcement fees. The high-security systems that these marijuana dispensaries can actually bring down crime rates.
Most dispensaries have strict security plans. These security plans can help municipalities understand the precautions marijuana dispensaries take. These security plans include surveillance cameras, shatter-proof glass, and vaults.
With that, it is important for interested entrepreneurs to know what the requirements are. Quantum 9 helps these entrepreneurs learn about what they need in order to run a marijuana business. If local and state governments understand the seriousness of security in marijuana businesses, the high fees for marijuana may not be so high.