With California changing cannabis laws that took effect in 2018, it’s more important than ever for dispensary owners to protect their cash with a smart safe, or some other cash management tool.
As dispensary owners are well aware, owning and operating a marijuana dispensary is an All Cash business, but the problem is that banks don’t allow dispensary owners to have a bank account that accepts cash deposits from a cannabis dispensary.
Owning a cannabis dispensary can be very profitable and even enjoyable, but it comes with a lot of risks (not to mention the fact that the Fed Government still sees it as illegal) when you deal with a lot of cash.
Below we have put together some basic details about what a Smart Safe can do for your dispensary.
Helps cut down on counterfeit bills Helps employees save time counting money all day Allows dispensary owner to remotely login and check all cash deposits, denominations, etc. Helps cut down on potential dispensary robberies
Adding Up All The Costs
There is so much that goes into opening a dispensary
- from getting city and state permits and licenses
- raising capital $$ to afford the whole process
Just leasing a retail storefront and buying the inventory (all the various strains of weed) is very costly and when you add up all these costs you are looking at easily $20,000 or more.
When you include
installing a surveillance system
buying a Point of Sale system
etc., money is quickly spent.
The Smart Safe is a great modern tool that will help the average, or advanced dispensary owner run an efficient and safe business.
On average you can expect to pay at least $5,000 for a good Smart Safe, but www.myweedsafe.com does have a few options depending on your needs.
The most important thing to remember is to plan ahead and be prepared for hidden expenses and safety issues that come with dealing with so much cash.
To sum things up, if you are a marijuana dispensary owner I’m sure you know it’s a bit unsettling that you have to hold onto so much cash and I’m sure just walking to your car at the end of the day leaves somewhat of an uneasy feeling in your gut. The Smart Safe is definitely one thing needed in every dispensaries arsenal. Read about some more specifics needed to have your own dispensary in our article “Six things every indoor garden needs“. Also don’t forget we are taking suggestions on the best weed grinders you would like reviewed and one lucky submission is going to receive a FREE GRINDER!
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