What's up, Biz Warriors! I'm a newbie here so please do not hesitate to direct me to the right board if I'm not on topic for this one.

I'm an aspiring entrepreneur looking to open a head shop, but before I dive into my planning, I really would like to know a couple things.

What am I looking at for start up cost and what am I looking at as far as profit margins go?

Those are the first things I'm considering before I even start the planning process. There's very little information out there about opening or running a head shop so I'm hoping someone here has an idea on those two questions I have.

Now, if I decide that I want to go into the business. My location will be set in either Reno or Las Vegas, Nevada and we all know that cannabis has become legal in this state so keep that in mind.

Anyway, thanks for reading! Leave your comments and suggestions below!
 

Edvin

MVP
Hi Grail,

Are there any head shop franchisers available; if so, I suggest you start from there.

Let me explain...

I had a business idea that felt it sounded great.
After doing some cost-benefit analysis and projections I realized that it was not worth-while venture.
Then I thought I should look into a franchise and explore a working model. So, I contacted a number of franchisers. They provide great deal of information. One important element you will come to learn is Franchise Disclosure Document (FDD), which every franchiser must provide for your assessment (free).

After looking over a few FDD for few franchisers I started to see a pattern with regards to store-front space, marketing budget, and high level business operations.
As part of our evaluation, we are also put in contact with franchise owners, which provide great insight into business logistics. Though I have not ruled-out going with franchiser, I am now thinking that I may want to go back to DIY business model again.

If you don't want to talk to franchiser owners, you can look at sites like fddexchange and look at FDD doc online one day at a time without paying for anything.

This will give you great insights into business that you want to invest in.

-Edvin
 
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