Canadian marijuana legalization – Essentials

Although the sale of medical marijuana is now legal in 14 states as well as the District of Columbia, these businesses often encounter great difficulty in obtaining merchant accounts. Considered “high risk” businesses, dispensary owners often face personal prejudices as well. Unfortunately, many banks just aren’t willing to consider opening a merchant account for the owner of a medical marijuana store; they consider the legal due diligence to be too much of a hassle.

Options Beyond the Banks

When you consider that approximately 75% of the American population uses their debit or credit cards regularly to make purchases, being able to process such transactions can be critical to the success of many businesses. Granted, the marijuana industry was strictly cash based until recently, but times have changed. If your bank is unwilling to even consider offering you a merchant account, it is time to look somewhere else. To learn more about the Best Online Dispensary Canada.

Merchant account firms are often more flexible and a number are now providing essential financial services to the owners of legal dispensaries. Since most dispensaries are still new ventures and they sell a medical product, they are, by default, considered to be a higher risk. However, as long as the store owner has a decent credit record and a clean criminal history, that will not necessarily prevent them from qualifying.

A Word of Warning

One concern you should have with regards to obtaining a merchant account for your medical marijuana dispensary is that not every provider is the same. Business owners in Colorado were recently surprised when their provider shut off service without any warning. Make sure that you select a company with a reliable track record.

3 Advantages to Credit Card Payment

Once you have set up your merchant account, your business will profit from several advantages. First, you will be able to take orders by phone or online – completing the sale at the store and speeding your customers on their way. Second, you will be able to hold less cash at the store, reducing the concerns associated with a cash rich business. Finally, tracking sales will be simplified as every purchase will show up in your evening balances.

If you want to accept credit cards at your dispensary, skip the banks and head online to find a company that understands the unique opportunities and obstacles facing your business.

Canadian marijuana legalization – Facts

Canada is one of the states in the US that have legalized the use of medical marijuana. Countless researches have proven the beneficial effects of marijuana in the treatment of chronic grave diseases such as cancer, brain tumors, muscle sclerosis, Alzheimer’s disease and HIV/AIDS. The drug is proven to decrease intraocular pressure thus can be used as an adjuvant in the treatment for glaucoma; gastrointestinal as well as respiratory diseases. The drug is popular as a psychoactive agent having a stimulant and hallucinogenic effect. However, this drug causes physical and psychological dependence and causes a life-threatening effect once taken in very large amounts.

Marijuana for its use in the medical field is legalized within 14 states which includes Canada. Because of the wonders that the drug brings, more and more people resort to its use. Because of its high potential for abuse, the use, dispensing, and growth of marijuana is strictly prohibited and anyone who is proven to have done such will be punished in accordance to the court of law. While it is illegal for pharmacies to dispense the drug, medical marijuana dispensary Canada along with the requisite documents to legalize its distribution of the drug, is becoming more and more popular among medically ill clients.

Medical marijuana dispensary Canada is a huge opportunity for business. To be able to open such company, one must undergo several procedures and processing license or a registration. A good dispensary should be familiar with the rules as stated by the federal law and should be able to follow it with integrity. There are several resources online that offers courses that are equipped with the necessary information about written prescriptions and documentation for the use of medical marijuana, medical marijuana treatment identification cards, patient evaluation, and of course a full knowledge about the federal laws.

Canadian marijuana legalization – Fundamentals

Opening a business is easy. You just need money to start it, the perfect location, and the right business of course, and there you have it. However, opening a medical marijuana dispensary is not your usual business talk since we are dealing with illegal drugs here – well not really in the 14 states that made its use legal for therapeutic purposes. There are several procedures and process that you have to undergo for licensing. Good thing for Colorado medicinal marijuana dispensaries is that they can register their business as non-profit unlike in California that a marijuana dispensary should be non-profit.

Indeed, Colorado medicinal marijuana is becoming popular with more people applying for medical marijuana identification card and becoming qualified for the possession of the drug. So, are you ready to for a successful business? Here are the steps you need to know to do so:

  • The first and foremost thing that you need to know is the federal and state laws. According to the Senate Bill 420, a qualified patient should not possess more than two ounces or six matured plants (12 immature plants). A dispensary should only distribute the drug to patients who have sufficient legal documents saying they are qualified to possess such drug. You also need to know the requirements on how to become an eligible patient and becoming a registered primary caregiver.
  • The next thing is to structure your business properly. By being familiar with the local, state, and federal laws you can open your business without worrying about legalities.
  • Next is finding the right location. Location is one of the factors that makes a business boom or to lose. It is best if you consider having special offers such as discounts and free patient consultation since they always go together.