What Pot Entrepreneurs Are Learning from Casinos
From 'cash teams' to security, marijuana business gets serious
Inside a cannabis shop's emerging business model
More than a year after Colorado became the first state to allow recreational cannabis sales, the marijuana industry is growing and evolving further. Entrants—often with loads of cash and product on hand—are taking cues from the gambling industry, which knows a lot about managing bricks of money.
"About 70 percent of our transactions are cash, the other 30 percent are debit and ATMs and so you can do the math and see that we have a fair amount of cash that we have to manage and handle," says Andrew DeAngelo, a cannabis entrepreneur based in the San Francisco area. "Our money is counted at least half a dozen times from drawer to armored car, by at least four different staff members or managers along the way," he said.
Even before
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