Dispensary profits...non profit???

[greenguy]

Can someone show me a link or article or anything that speaks to the profits made by individual Meddi MJ disensaries in Los Angeles??? I am putting together a business plan for investors and am looking for proof sources

...I remember seeing something at some point that said that the man who owned Organica on Washington blvd made 5 million in profits one year, his dispensary was one of the ones that was raided by feds last year. I can't find this anymore

 

[jmansweed]

You mean a Non-profit dispensary. It all depends on the amount of product moved. Harborside was reportedly moving upwards of 4 million of product a month. All the $ made is put back in the business, donated and used for taxes.

IMO Unless you do things illegally, there is not a tremendous amount of money to be made. Non-profits restrict employee wages. I'm unsure of the exact details but you will surely follow Organica if you pocket extra money earned.

Not to say it's a great idea. Anyone ready to tackle a dispensary gets respect in my book - best of luck

 

[greenguy]

hold on a min...4 MILLION/month???? u sure on that number or is that yearly???

If so how could you possibly imagine that all that money would be put back into the business? who do they donate to?

 

[greenguy]

Anyone know the guidlines on running a non for profit dispensary in LA?

what is the definition of "non for profit"?

what are the restrictions...?

 

[jmansweed]

4 million a month is high - more like 20 million in annual profits, I'll quote an article I recently read:


" Harborside now has 30,000 patients registered in its database, and their purchases of medicine bring in about $20 million annually in revenue, according to DeAngelo. "I'd rather not discuss my specific salary," he says. "I can tell you if I was working in any other industry and showed the kind of financial returns that this business has shown, I'd be paid three or four times as much as I'm making at Harborside."

First-time patients, upon stepping through the metal detector at Harborside, immediately undergo a thorough paperwork check. The patient produces his doctor recommendation, the clinic verifies its authenticity with the doctor, and then the clinic also verifies the doctor's credentials with the state medical board.

About 600 patients come to Harborside each day, according to DeAngelo, most to buy marijuana, a few to supply it. Suppliers can bring in as much as three pounds at a time. (Bay Area police generally allow patients to transport this much, DeAngelo says.) The patient-grown marijuana is inspected for quality, examined for molds and fungi, and tested with a gas chromatograph mass spectrometer to determine its THC content. "

There is serious money invested back into Harborside. Mass spectrometers are expensive, as are the dozens of employees. They offer FREE holistic healing methods and occasionally have special deals on meds. They absolutely give back to the members, and to the community generally............It's a model to follow imo............

 

[greenguy]

That sounds great...excellent model!!!

 

[greenguy]

dispensary vs co-op

-what is the difference?

-are these the only two ways to operate a meddi MJ facility?

-why is it illegal to sell medical MJ out right and make profits?

 

[cubby]

Anyone know the guidlines on running a non for profit dispensary in LA?

what is the definition of "non for profit"?

what are the restrictions...?

You're kiddin' right? First off it's non-profit or not for profit.
The definition is simply that.......No Profit.
The restrictions are just that.....No Profit.
I can't immagine you'd do very well at this considdering you don't know what non-profit means, or the restrictions on a non-profit entity.
But then again I think any business you would run would end up a non-profit. So give it a shot, I bet you'd be a tremendous success at not making a profit.

 

[greenguy]

Thats cute cubby glad you decided to chime in...

In my prev post I was assuming that you are aloud to pay your employees and make a living yourself whilst working for a not for profit organization, am I right? the question was directly related to what the rules are on this...The above post emplies that the man who owns harborside is getting paid for his work does it not?

do you seriously cruise the net looking for opertunities to put others down in a condescending manner? ...cause thats not cool

 

[cubby]

do you seriously cruise the net looking for opertunities to put others down in a condescending manner? ...cause thats not cool

No, I usualy just sit and wait for an opportunity to wander by. And it was'nt "condescending" it was meant with humor, but that dose'nt transmit well in print.
With that being said, I have had some experience working with tax exempt organizations (501-3c).The most important part of a non-profit is the CEO/Manager/Head Honcho gets a salary agreed to by a board of trustees (usualy industry specialist, in MMJ I can't imagine who'd that be),payroll and over head is deducted from year end assets (if there are any, but it's weed, there's certainly a customer base), Every thing thats left must be used for upgrades/ expansion/ advertisement/ or social outreach (wich can be anything from public education to political lobbying). You would be better off forming a co-op, and supplying an established dispensary. They will take care of your tax records and the million reams of paper work generated by a business some politicians oppose vehemently.

 

[greenfriend]

grow yer own bud and sell it through thru yer own dispensary. thats how its done. nuff said

 

[Gone2pot!]

Does it usually cost to get into a club or collective? I haven't had my card long but the one club I've heard about is $1,200 a year. All I know is that people can come into the same room as others that may or may not show up, and you can smoke or whatever in front of others, :rofl:
I'm not paying $$$ just to have a possible audience. :rofl:
I would like a club where clones could be traded or otherwise obtained. I wish there was more upfront info available. I know that people are cautious to talk, but this limited info (maybe this maybe that) was after seeing that I was legal. When I called our health department with a what now, where are the dispensarys question, I was told no dispensarys, this is a grow your own state! That's bad, by the time a card holder obtained seeds, grew the allowable few, got lucky enough to grow a female, flowered then harvested and cured... They would have gone many months with no medicine!! Even in legal states they force you into a corner. Go figure
I wish I new how to start a co-op

 

[jackson1]

Does it usually cost to get into a club or collective? I haven't had my card long but the one club I've heard about is $1,200 a year. All I know is that people can come into the same room as others that may or may not show up, and you can smoke or whatever in front of others, :rofl:
I'm not paying $$$ just to have a possible audience. :rofl:
I would like a club where clones could be traded or otherwise obtained. I wish there was more upfront info available. I know that people are cautious to talk, but this limited info (maybe this maybe that) was after seeing that I was legal. When I called our health department with a what now, where are the dispensarys question, I was told no dispensarys, this is a grow your own state! That's bad, by the time a card holder obtained seeds, grew the allowable few, got lucky enough to grow a female, flowered then harvested and cured... They would have gone many months with no medicine!! Even in legal states they force you into a corner. Go figure
I wish I new how to start a co-op

Being legal as you are, you should really do the research and/or help, if not pave the way by getting involved and making it happen. Promote the medicinal usage of this God given plant that is an amazing form of medication for many things and use being legal to your advantage where as with most others we don't have that option without potential serious implications if you know what i mean. :cop:

It is absolutely unbelievable that this plant is illegal any where for any reason. It is just ridicules. Use your card to help make a change a change what you want, not what they want for you.