To judge by DeAngelo’s illustrious career in cannabis, the officer’s warning had the opposite effect. When a high school sports injury left him depressed and in pain, his brother passed him a joint and one hit turned him into a cannabis believer. DeAngelo never looked back. His lengthy cannabis resume includes decades working on voter initiatives to legalize cannabis, serving as a founding board member for the California Cannabis Industry Association, and co-founding Harborside, one of the world’s largest cannabis retailers.
The shuttering of damaged retail stores is slowing or stopping altogether the flow of sales for producers and processors in some markets, which could lead to a stockpiling of product and falling wholesale cannabis prices.
“The whole supply chain has been disrupted and attacked,” said John Oram, CEO of Nug, a vertically integrated cannabis company with several locations in California.
“You can’t operate out of a lot of these smashed stores.”
Some cannabis businesses are closing their doors – by choice or order – and they’re relying more on drive-thru windows as a way to better serve customers and avoid spreading coronavirus.
It’s yet another example of how retailers are adapting to cope with the pandemic and keep their marijuana sales on track.
Edgewater, Maryland-based Mana Supply Co., which closed its doors Sunday, spent about $100,000 converting a former bank drive-thru into a secure drive-thru for its dispensary, said Christopher Jensen, the medical marijuana company’s co-founder and CEO.
As a new industry, cannabis is evolving fast. Try to jump into the market looking at the current opportunities, and you’re going to end up behind. On day one. Every industry needs innovators and market builders. But success in cannabis takes visionary skills, as well. Take for instance the race right now to become a multi-state operator (MSOs). In most instances, bigger is better. MSOs create a larger addressable market by having a presence in several marijuana-legal states. Yet, scale comes at a cost.