AWH is heading towards acquiring one of Chicago’s biggest marijuana dispensaries – MOCA. The acquisition will involve accretion of two of the company’s outlets located in the neighborhoods of Logan Square and River North, following the approval from the Illinois Department of Financial and Professional regulation.
“We are pleased to enter the third-largest city in the United States though our pending purchase of Modern Cannabis,” said the founder of AWH Abner Kurtin. “MOCA has been a leading player in the Chicago market, and we are excited to pair it with our Illinois Supply & Provisions (IS&P) dispensaries which include the top-performing retail outlet in the state in Collinsville.”
Ascend Wellness Holdings is a vertically integrated organization with operations in Michigan, Massachusetts and Ohio. It is one of the largest privately held businesses in the cannabis industry that has redefined cannabis retail experience.
Their retail stores allow a direct interaction of the customers or patients with their product range. To blend into the digital era, they provide online ordering and in-store pick-ups to their customers. This is in addition to the tablets and digital options already offered in store.
AWH has planned even more expansions in the upcoming days. By November, the company plans to open another store in Springfield and another one in Fariview Heights by next year. It is also planning to inaugurate a 90,000 square foot greenhouse in its growing facility in Barry.
Medical and Recreational Cannabis Dispensaries holds two locations in Chicago. It started off as medicinal cannabis provider in 2016 but soon expanded into the recreational market as well.
The location of both MOCA dispensaries is prime and has easy access via public transit and transportation. The staff of these dispensaries is their greatest asset. It includes nurses, pharmacy as well as cannabis connoisseurs. Combined with the management team of the dispensaries, these human resources have earned MOCA the status of the best dispensary in Chicago.
The Benefits that will follow the acquisition of MOCA by AWH
At a time when most of other sectors are experiencing a slow-down, the commercial success of the cannabis industry in the state of Illinois is attracting investor interest.
Since the start of 2020, Illinois has generated over $300 million in recreational sales from the cannabis industry alone. The tax revenue it generated amounted to $52 million within the first six months of operation.
These figures have turned Illinois into one of the most high potential markets for the cannabis industry.
Since the unemployment rates have reached an all time high in this COVID-19 impacted economical crises, more tax revenue for the government means funds available to be allocated towards education, healthcare etc. With this, investors can expect further regulatory relaxations in the cannabis sector.
AWH is one of the fastest growing companies all across the USA, its acquisition of MOCA is very promising for the cannabis industry. “We always wanted to be up in Chicago and Cook County. We saw MOCA as the best opportunity by far”, said Abner Kurtin.
The co-founder of MOCA, Daniel Marks feels that the acquisition will give the company more resources, protecting product shortages. This was said in the light of the shortages the company faced at the beginning of 2020. Although some of the shortages have been resolved but more time is needed to get back on track.
“AWH is a great fit for us. They have a clear, focused strategy and a nimble, ambitious team. Of the several partnerships we considered, AWH made the most sense for us in terms of their state and national size, growth trajectory, and company culture,” said MOCA founder Danny Marks.
Despite of all of these growth prospectives, AWH should be alert in striking a balance between retail store outlets and growing e-commerce in the cannabis industry.
Four Tips to Secure Cannabis Dispensaries in Oregon Today
Since the chain of cannabis crime is being beaded at a much faster rate in Portland, Oregano, there is a dire need to enhance the security measures. Robbery of a cannabis dispensary is as money-spinning as of a bank. Until an act is passed to allow the transactions, cannabis dispensaries remain the prime target of a robbery as all dealings continued to be done in cash.
Tips to Fortify Cannabis Dispensaries Security
The recent report by the Oregon Liquor Control Commission showed almost 120 robberies since march 2020 in Portland Metro alone. It resulted in a total loss of $500,000 in terms of both products and cash. To strengthen the security around the dispensary in a quick and easy way, a key step is to install rolling doors to keep criminal activities at bay.
Tip #1 – Tight Security Measures at Storefront
One of the most popular yet helpful ideas to prevent looting is to install heavy-duty steel doors, which can help add an extra layer of protection for the cannabis business. The plus point is that the manufacturer can directly mount it into the already existing buildings exteriorly. Also, these are significantly helpful in protecting the glass windows, which can be expensive to replace.
What’s more, it can block the view of the thieves to the merchandise. These are different from the other standard rolling grills. With these, the criminals won’t be able to see the stockware when the door is closed. Some of the dispensaries have tested their door against the Department of Defense to assure that even no violent attack can harm them. These doors are lift- and pry-resistant.
Tip #2 – Need of Visibility and Ventilation
If the cannabis dispensary owner wants to let the outside world see their merchandise, there is a need for more robust security. With compact impact glass and a heavy-duty grille, it is possible to stay away from the world’s sight when needed.
Easy custom orders and installation makes it an excellent choice to adhere to the security demands. Heavy-duty grilles that have rods closely spaced and strong interconnections are difficult to lift and attack than the standard grilles.
The rolling grilles become even a much better option to protect the counters in the cannabis dispensaries. There is no need to do any modifications to adjust it behind the glass door. It can be easily installed in small places where the ceiling is low.
Tip #3 – Separating Cannabis Dispensary from the Store
Cannabis dispensaries in the high-end stores need extra protection, and thus, important to separate them from the rest of the shop. Cannabis dispensary separated from the rest of the shop can have different operational hours like some states have specifically specified.
The mesh metal grilles look much better and significantly affect the aesthetics of the store. It can deliver both beauty and security while customers can easily view the cannabis products of the store. There are manufacturers who are even designing logos on the grilles to give aesthetic pleasure.
Tip #4 – Secure Delivery to and from Cannabis Dispensaries
The cannabis dispensary owners usually tend to forget about secure deliveries that are most prone to attacks. Deliveries being made at the store back and the receiving areas are usually the areas of concern. It is extremely important to track down the time of delivery, people present there, and the stock delivered.
The heavy-duty service rolling doors provide exceptional security than those traditional sectional rolling doors. They are made to meet the demands of beauty and security, both as they are highly customizable and can be easily adjusted to limited spaces. They offer the idea of security by using stainless steel, galvanized steel, and aluminum in the grilles.
Impaired Driving: A Must Consideration for the State’s Cannabis Bill
Even with the concept of Vision Zero and more raising concerns for the traffic rules, Albany legislators aren’t focused on it, while rushing to legalize the use of cannabis in New York. Silive shares the thoughts of how important it is to slow down the process of legalization and first pass on a bill that would stop impaired driving and hold marijuana-impaired drivers accountable for accidents.
Before the legalization of marijuana, to create a safer environment, it is extremely important to put pressure on the notion that studies categorize all intoxicating substances as unsafe for driving.
Impaired Driving Same as a Speeding Ticket
No consideration against the impaired driving would make people think it unimportant as a speeding ticket. This indirect message by the leaders would eventually lead to a greater number of casualties with each passing day.
It is nothing but a truth that marijuana has the potency to affect concentration, response time, motor function, and movement. Also, the science links a high concentration of THC in the blood due to cannabis intake to impaired driving. Surprisingly, marijuana is a second substance that has a major influence on driving capability after alcohol.
Need to Reinforce the Drug Definition in New York
Apart from considering classifying impaired driving due to marijuana as a minor criminal act, some light should also be shed on revising the term drug as other 45 states have done. Any substance should be called a drug that can compromise the ability to think, focus, and react.
If this act is not taken, according to the law, they cannot be charged if the alleged impaired drivers refuse to have a chemical test. The dismissal would eventually result in chaos and poor law enforcement. Such impaired drivers could not be held accountable and would be back on the roads again, risking the lives of hundreds of people.
The legislators of Albany must think about the message they are conveying to the younger generation out there. Already, as shown by the personal accounts of many teenagers, marijuana is nothing big for them and seems harmless.
Different treatment for impaired drivers than those drunken drivers would further strengthen this perception among people. Since neighboring states have already legalized marijuana for recreational and other purposes, New York seems to be next.
Strict Laws and More Investment in the Traffic Sector
Along with the modifications in the law to serve a better criminal justice system, there is a need to pass on better provisions to ensure safety on roads. No person should become a target of people managing a 3,00 pounds vehicle while being impaired by marijuana, asserts the source.
There should be provisions in the law to hold such people against the criminal act. To run a smooth traffic system, it is mandatory to design out complete traffic safety rules. There should be more people, funding, and resources to train the Drug Recognition Expert (DRE) officers and create awareness of the possible effects of drug abuse, including marijuana. As time has changed, the use of synthetic drugs has made it difficult to articulate a specific one; thus, the need for DRE officers has become as important as the need to include the provisions in the bill.
The legalization in New York for cannabis should be set straight from the start. Before the bill includes and assures safety on roads, the legalization of recreational cannabis is a non-starter. All the roads
Cannabis Sales Reaches Skies, Set Highest Mark With $17.5 Billion Sales
The novel coronavirus has been devastating for most industries. For some industries, however, it was bliss. Concerning cannabis, 2020 was a breakout year. Across the United States, 15 states granted permission for adult use, while 35 states allowed medicinal use of cannabis. According to a recent report by Forbes, there was a 46% incline in cannabis sales and use in comparison to 2019, with a budget of $17.5 billion.
Cannabis Sales Increase In Different States
Generation of sales or profit occurs from both medical and adult-use of cannabis. However, recreational or adult-use generates the highest portion of sales, especially in markets like the Colorado marijuana market. In Colorado, the sale of marijuana increased by 26 percent resulting in business involving $2.2 billion.
According to BDSA, an improvement in sales of Oregon occur by 29 percent from 2019. Moreover, the Oregon market makes a business of $1.1 billion. The cannabis market in Illinois is under progress and development. Yet, it was able to achieve the highest sales in 2020.
ALSO READ: Know Doctors Recommended Marijuana Tips
Moreover, during 2020 Illinois marijuana industry expanded from medical use to adult use. As a result of legalizing adult-use, an increase of $784 million occurs in sales. Besides, now Illinois is doing sales of over $1 billion in its marijuana market.
Sales in California and Florida also increased. $ 586 million increase in sales of marijuana in the California market occurs, a total of about $3.5 billion business is happening in it. Moreover, the rise of $473 million occurs in the Florida marijuana market.
What causes The Rise In the Economy Of the Marijuana Industry And Market?
According to BDSA’s insights and analytics department, the cannabis industry is recession-proof and continues to progress. Moreover, it has the most potential of evolving and flourishing.
According to Kelly Nielsen, the rise in the marijuana industry was due to three reasons. Firstly, during the coronavirus pandemic, dispensaries were major-businesses, and many individuals built their own.
Secondly, more devoted customers enter big markets like California, Colorado, and Oregon. Third, multiple states legalize the use of cannabis for both medical and adult use. As a result, the overall sale of marijuana products increased remarkably in the previous year.
Moreover, another major factor is that individuals have begun to consume cannabis in larger amounts. Furthermore, more and more people are now involved in marijuana consumption.
Cannabis users agree that their consumption of cannabis has increased by 25 percent since the beginning of the COVID-19 pandemic. Additionally, the demand for cannabis in legal markets has risen since legalization. According to Nielsen, alcohol penetration is 60 percent, while marijuana penetration is 50 percent.
Cannabis Industry Achieves Mega Sales Hits
Urban Leaf co-founder Josh Bubeck states that 2020 has been a tough year due to the coronavirus pandemic. However, Urban Leaf was able to enhance the market penetration of its cannabis products from 37% to 39%. Moreover, according to Bubeck, the company had its best sales during the last week.
Cannabis companies that have dispensaries at the places of tourists’ attraction suffer the most losses. Similarly, Urban Leaf‘s flagship location near Sea World suffered the biggest-drop.
The legalization of marijuana enables doing business legally and prohibits doing illegal activities. As a result, legal-activities rise, and the pressure of high demand in legal setup rises. Similarly, the closing of illegal dispensaries moves more individuals towards legal dispensaries, leading to a further rise in sales.
Like other cannabis companies, Sava also gets involved deeply in the market. Moreover, according to the founder of Sava, the company observes 60% more growth in their sales during 2020.
According to Andrea Brooks, people are getting comfortable with new legalization and decriminalization policies. Moreover, as people are getting-used-to cannabis policies, the demand for cannabis products is rising, and so are its sales. Despite large profits and sales during the pandemic, no marijuana industrialists want to relive the stressful 2020.
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