Colorado Dispensary

[TruenoAE86coupe]

What are the stipulations of "not for profit"? Does that mean I can only charge what it costs me to produce? In other words, if I have 5 patients, and I provide them 8 oz every 3 months, I cannot charge $200 an oz, I have to charge only what it cost me? If you do the math, that would only net me roughly $2600 a month minus expenses. Not exactly getting rich, but paying the bills, this is not acceptable?
GS

This is where the grey area really comes in, Cali started this, and like 90% of the dispensaries there (that are supposed to be not for profit, here it is just caregivers) are still working for profit. But anyhow simply i would base it the way that any other non-profit is set up, use red cross as an example, in the year of Katrina the CEO's income doubled over the year before, this was too long ago for me to remember exact numbers, but she started with a salary of over $100,000 a year that then more than doubled, cause they were busier.
So based on that you can pay yourself a reasonable rate, however laughable the word reasonable may be used. But if you work full time at it i wouldn't see any problem making $50,000+ a year easy. I think they will be aiming at other targets for a while, i would watch plant counts and being in smaller towns as i truely believe we are on the verge of seeing a lot of cops knocking on caregivers doors to do plant counts.

 

[GodSlave]

This is where the grey area really comes in, Cali started this, and like 90% of the dispensaries there (that are supposed to be not for profit, here it is just caregivers) are still working for profit. But anyhow simply i would base it the way that any other non-profit is set up, use red cross as an example, in the year of Katrina the CEO's income doubled over the year before, this was too long ago for me to remember exact numbers, but she started with a salary of over $100,000 a year that then more than doubled, cause they were busier.
So based on that you can pay yourself a reasonable rate, however laughable the word reasonable may be used. But if you work full time at it i wouldn't see any problem making $50,000+ a year easy. I think they will be aiming at other targets for a while, i would watch plant counts and being in smaller towns as i truely believe we are on the verge of seeing a lot of cops knocking on caregivers doors to do plant counts.

Thanks for that bro, very informative.
Does the 2 year resident requirement extend to caretakers also?
GS

 

[TruenoAE86coupe]

Not as far as i know, lifer here so i never really looked into that, but i do believe it is just for "MMC"s. From the paperwork (for the red card and to change caregiver) it seems like you just send in your id and the caregivers id with the paperwork notarized. O yeah and that 50k i was talking about is your payment as CEO above and beyond what you make to cover expenses. So basically if you can grow it and sell it to your five patients no matter what you make you are in the clear.

 

[SoCoMMJ]

This is where the grey area really comes in, Cali started this, and like 90% of the dispensaries there (that are supposed to be not for profit, here it is just caregivers) are still working for profit. But anyhow simply i would base it the way that any other non-profit is set up, use red cross as an example, in the year of Katrina the CEO's income doubled over the year before, this was too long ago for me to remember exact numbers, but she started with a salary of over $100,000 a year that then more than doubled, cause they were busier.
So based on that you can pay yourself a reasonable rate, however laughable the word reasonable may be used. But if you work full time at it i wouldn't see any problem making $50,000+ a year easy. I think they will be aiming at other targets for a while, i would watch plant counts and being in smaller towns as i truely believe we are on the verge of seeing a lot of cops knocking on caregivers doors to do plant counts.

A caregiver can only be an individual. That kills your whole non profit 50k ceo thing...

 

[TruenoAE86coupe]

Fair enough, but there is no where that specfically states that you are not able to do this as your career. Therefore if you pay your taxes and watch plant counts i don't see any one going to jail for paying themselves a reasonable salary.

 

[theexpress]

Thanks for that bro, very informative.
Does the 2 year resident requirement extend to caretakers also?
GS

nope just gotta be a residant

 

[mattjacobsenmmj]

For Colorado theres a great video you should watch that will probably answer alot of the questions youre asking. Ill embed it here for you.

[video=youtube;PZmBuv04w8I]http://www.youtube.com/watch?v=PZmBuv04w8I[/video]

If you're thinking about another state theres alot of other videos of other attorneys discussing what it takes to be compliant with state law at Cannabis College HQ

If you still have questions after that, we put out webinars where you can come on live and ask questions to attorneys free- no strings attached.

Best of luck my friend!

 

[MG Canna]

Sounds interesting. You cant come to Colorado and fund a dispensary unless you live here for two years. The MMED is tight about making sure all the monies used to open an MMC are from in state. I know because I went through this with three of our original partners in my MMC. We went pout of business and it was because there are too many people pinching from the pot........unless you're one of the large corporate groups that run 10 or 20 in CO.. It's not as good as it was a few years back. Now ounces sell for $175 of top quality. It used to be $400 only three years back. Now because of the price wars that the large Corps. created, there are stores going out of business all the time. So there are lots of turn key opps. up for sale. I live in Springs and do consulting work for a few MMCs. If you need any help, give me a PM on here. I'd love to help get you caught to speed on everything. Definately go and read all the document on the CO MMED website. The address is http://www.cdphe.state.co.us/hs/medicalmarijuana/index.html .