It was just a few years ago, in November of 2016, that California passed the Adult Use of Marijuana Act which legalized the use of cannabis in California. This act allowed recreational cannabis sales in the state. Since then, the presence of recreational cannabis dispensaries has exploded throughout the entire state. More recently, The Office of Administrative Law released permanent regulations for California’s cannabis industry.
Last year, it was estimated that there were 261 dispensaries in California. To us, we see that as 261 (and counting) opportunities to increase small business security.
California Cannabis Industry Creates Booming Economy
Just six months after recreational sales began, California released its cannabis sales tax data for the second quarter of 2018 and the numbers showed that recreational retail revenues grew 36% from the first quarter, about $290 million.
The Marijuana Business Daily reports that California brought in just over $345 million in marijuana tax revenues, which is far from the $643 million revenue that was originally projected by Governor Jerry Brown’s administration. Although they didn’t meet the projections the first time around, we expect to see this number continue growing as rules and regulations continue to be streamlined and more dispensaries open.
This new source of tax revenue will fund California services like healthcare programs and public education. Not to mention the number of jobs created in California and other states that have legalized medical and recreational marijuana. Leafly states that “legal cannabis is currently the greatest job-creation machine in America.” Statistics like that and the ones mentioned above are reasons to continue to invest in the legal cannabis industry. For those that have or are interested in operating a dispensary, there are important security risks to be aware of.
Security Tips for California Dispensaries
Possibly the largest threat dispensaries face is shrink, which is a reduction in inventory due to internal and external threats alike. Unfortunately, most dispensary losses come from employee theft. To mitigate this risk, measures taken at the beginning like a strong vetting process and background checks can ensure you hire and retain employees with integrity. Having on-site security guards can also diminish theft from employees and customers.
The best thing a dispensary can do is to invest in a surveillance system that features high-quality footage with convenient storage options. Our most cost-efficient security system is TotalGuard because it is a bundled package with must-have features including:
- Video verification
- Impact-activated audio
- Glass break detection
- Wireless support
- Mobile app access
Proper installation is key to the success of any surveillance system. We send professional installers to your location to ensure that it is set up correctly and optimized for your dispensaries security needs. With Sonitrol, business owners don’t have to worry about maintaining their system. With our 24/7 monitoring services, our security officers at our Central Monitoring Station keep an eye on your building when you’re not there. Contact us to learn more about TotalGuard.