Cannabis Dispensary Channel

Wed
29
Jan

Canada's Marijuana Sales Top $100 Million in a Month for the First Time

It's pretty incredible what a difference a year can make.

At this time last year, cannabis stocks were flying high, and the expectation had been that most brand-name companies would push toward recurring profitability by the end of the year. Of course, hindsight being what it is, we know this didn't happen. High tax rates in select U.S. states, persistent supply issues in Canada, and a resilient black market weighed heavily on the cannabis industry in 2019 and pushed a number of popular pot stocks to two-year lows.

However, there may be light at the end of the tunnel.

Tue
21
Jan

California lawmakers say pot taxes must be cut to help an industry ‘on the brink’

California lawmakers on Friday revived a proposal to temporarily cut taxes on marijuana to boost a legal market that one official said is “on the brink of collapse,” drawing encouragement from Gov. Gavin Newsom as he seeks to overhaul state pot regulators.

The bill would cut the state excise tax on marijuana sales from 15% to 11% for three years while eliminating a cultivation tax for that period. Similar legislation has been shelved in the last two years, with Newsom saying he felt it was too soon after legalization to make changes to the law.

Tue
21
Jan

Oregon cannabis sales top $790 million last year

Oregon cannabis stores sold $793 million in products to consumers last year, generating more than $110 million in tax revenue for state and county coffers, according to an analysis of Oregon Liquor Control Commission data.

That’s close to $150 million more in sales than 2018. By next year, totals are expected to climb to nearly $1 billion.

“We think sales will continue to grow,” said Beau Whitney, vice president and senior economist for New Frontier Data, a global analytics firm. “Demand is coming from converting consumers from the illicit market and people moving away from the medical market.”

Tue
21
Jan

Cannabis Supply Shortages Abound In Newly Established Recreational Markets

It seems that whenever a new recreational cannabis market rolls out, reports of exaggerated lines, product shortages, and store closures never seem to be far behind.

Tue
21
Jan

How Cannabis Businesses Can Prepare for Tax Season

Taxes can give everybody a headache, but perhaps nobody’s tax headaches are bigger than in the cannabis industry. That’s because, when filing their taxes, plant-touching businesses must adhere to the Byzantine regulation of Internal Revenue Code Section 280E.

A Little About 280E

The 280E statute bans businesses from deducting business expenses for gross income associated with the trafficking of Schedule I or II substances. While other businesses can deduct any number of expenses when filing their taxes — employee salaries, rent, equipment, electricity, etc. — 280E limits cannabis companies to only expensing deductions directly related to earning a profit, or the cost of goods sold (COGs).

Thu
09
Jan

Weed shops don't have enough employees, either

Perhaps the only thing in shorter supply than weed at marijuana shops when they began selling to the public Jan. 1 were state-badged employees to work behind the counter.

Some marijuana shops have closed or reduced hours for recreational sales because of shortages of marijuana. Cresco Labs and PharmaCann closed dispensaries Monday to give employees time off after five days of long shifts, not because they were out of weed. 

“On Saturday, the leadership of our company was working registers because we didn’t have enough employees,” said Cresco spokesman Jason Erkes.
 
Ben Kovler, CEO of Green Thumb Industries, could be seen working the counter and behind the scenes at the company’s Rise dispensary in Mundelein on New Year’s Day.

Thu
09
Jan

Illinois Dispensary Stops Selling Recreational Weed To Help Medical Marijuana Patients

Just one week into legal recreational cannabis sales in Illinois, some dispensaries have halted sales of adult-use pot while others have been forced to temporarily close. Sales of recreational pot began briskly on January 1 after a legalization bill was passed by the Illinois legislature and signed by Gov. J.B. Pritzker in June.

Wed
08
Jan

Some Chicago marijuana dispensaries low on supply; $10.8M in pot products sold since Jan. 1

It's been less than a week since recreational marijuana went on sale in Illinois and already there are supply issues.

The demand is so high, many dispensaries have sold out of recreational marijuana, so customers will have to wait for some dispensaries to restock.

Perhaps that shouldn't be a surprise; according to Governor JB Pritzker's office, more than $10.8 million worth of pot products have been sold in the state since legalization on Jan. 1.

Dispensaries in the state recorded 271,169 transactions totaling $10,830,667.91 in that five-day period.

Thu
14
Nov

These strategies will get more customers to your dispensary

It goes without saying that you want to get as many new customers into your dispensary as possible. But with the cannabis retail space becoming more and more competitive every day, you can't just expect a flood of new customers to rush in the second you open your doors. You need the right marketing strategy to break through the clutter, grab your ideal customers' attention, and drive new business for your dispensary. 

Fri
01
Nov

How brands appeal to the canna-curious

As adult-use cannabis becomes legal in more states, it is also becoming more socially and culturally acceptable. Those who just five years ago would never have dreamed of visiting a dispensary or gorging on a gummy are now interested in doing just that. They’re the canna-curious, and they’re a massive untapped market. But there is still a stigma attached to weed, fueled by years of anti-pot propaganda, seedy past business practices of the black market, and an overall lack of knowledge, that can prevent the canna-curious from giving pot a shot.

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