Washington Stores And Growers Contemplate Costs Of Medical Marijuana integration

By Sue Vorenberg

Cannabis Daily Record

Jim Mullen, COO of The Herbery, a small upscale chain of retail cannabis shops in Vancouver, Washington, scrunched his forehead as he contemplated the costs of adding services for medical marijuana patients to his line of store offerings.

(Cedar Creek Cannabis already sells one medical-grade product at The Herbery, even though the state the medical and recreational systems have yet to merge)

It’s not that he doesn’t want to serve medical patients – he does, and will through at least one of his stores. But he added that there’s more to the equation than just opening up a new register or adding a few items to the shelves.

“It’ll cost us at least a few thousand dollars to get everyone trained, with more costs as we get everything set up,” Mullen said. “And we don’t know how many medical marijuana patients we’ll serve after doing that. But in the end you have to think, are we doing this for the community even if it costs us more as a business? We are at The Herbery, but I think we may only start off at one store until we see how it works out.”

Some patients may not bother signing up at shops because of backlash against the state registry, in which the state will keep a running list of patient names, Mullen said. And that makes estimating the number of patients that will use the system difficult.

MJ Research Report: Washington Recreational Marijuana Sales Grow By More Than 20% In February

By Joe Armes

WASHINGTON: Combined Producer, Processor and Retailer monthly sales in Washington State grew at its fastest rate since November, growing by 20.5% from $18.5M in January to $22.7M in February, a month with 3 fewer days.

Retail sales grew at 22.2% from $12.7M in January to $15.52M February while Producer/Processor sales grew by 16.6% from $5.77M to $6.73M.  Both are great news for producer/processors sitting on surplus inventories left over from last fall’s big harvest and are indicators surplus inventories will continue to burn down over the coming months.

Here are some other insights from the Washington State Recreational Cannabis Business Intelligence Dashboard:

  • Year-to-date combined producer, processor and retailer sales as of March 9th have totaled $49M, resulting in $12.3M in excise taxes due to the state.
  • There are currently 127 approved retail stores in Washington State and as of March 9th 107 of these retail stores had recorded sales.
  • A new single day sales record was recorded on February 27th with $1.55M in combined producer, processor and retailer sales.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

 

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.