It is estimated the cannabis industry will reach $30 billion by 2025. As the industry rapidly expands to additional states, dispensaries are facing the same challenges as other businesses. However, as most dispensaries are cash-only businesses, security tops the list.
In any retail operation, both internal and external theft can be a challenge for the business owner. For cash-only businesses that sell valuable products like marijuana, CBD oils and edibles, it is essential that advanced security is in place to protect both products and cash.
Protecting Cash
Investing in smart safes and cash recyclers provide a holistic approach to cash management. By automating and streamlining the manual cash management process, technology makes every cash-based process in a retail environment more efficient and more secure.
Smart Safes have many benefits for retailers. Not only do they keep cash safe from external threats they protect against internal theft as well. With the help of smart safes, dispensary owners can easily track cash deposits ‒ by user ‒ in real-time and provides an audit trail. The business owner also benefits by optimizing cash-in-transit collection schedules and receiving ‘provisional credit’ for funds deposited in the safe.
Cash Recyclers, which can double as smart safes, not only increase security they also improve employee efficiency. Designed to detect counterfeit money, a cash recycler automates cash dispenses for tills, tracks transactions for auditing, monitors cash inventory in real-time, limits access based on unique employee user ID and much more.
Protecting Products
Dispensary operators know how difficult it is to balance running a profitable business, protecting cash while also preventing the loss of products. Like pharmacies, the cannabis industry sells products that are in high demand and can be vulnerable to theft. That’s why physical protection like safes and vaults, combined with video surveillance are so important for the safe and secure operation of dispensaries and other cannabis-based businesses.
Product Safes are one of the most cost-efficient security devices a dispensary can invest in. Available in a variety of sizes, safes should be UL rated in order to withstand a 15 to 30-minute attack using tools such as crowbars or blow torch and up to two hours of fire.
Vaults, which are more suitable for larger marijuana facilities, provide unlimited interior storage. Like safes, vaults should be UL rated to withstand up to a 30-minute attack and a fire that lasts as long as two hours. Vaults and vault doors are also available with biometric fingerprint control and timed locks to prevent entry by employees who the business owners doesn’t want to be able to access the vault.
Surveillance Camera Systems
Placing a camera system in your dispensary is an effective way to deter crime, to monitor employees and customers, and ensures that if a theft happens it is properly recorded for law enforcement. High-quality security cameras can monitor and record every inch of a facility – inside and outside. Unlike regular cameras, smart cameras come equipped with intelligent IP video to easily locate suspect activity and can also alert business owners or key personnel of fire and suspicious activity.
Safety for Employees & Customers
Drive-up and walk-up systems are a terrific solution for executing a safe and secure transfer of cannabis products and cash between employees and customers, especially during the pandemic. Much like when using your bank or credit union’s drive-thru lane, a dispensary walk-up or drive-up system uses a series of pneumatic tubes and/or a transaction drawer to perform touchless transactions. And bullet-resistant windows protect employees from robbery.
Not only does a drive-up or walk-up system help increase security and prevent the spread of COVID and other viruses – protecting your employees from health issues, having a drive-up or walk-up system is an added convenience dispensary can offer customers.
Operating a cannabis dispensary can be a very profitable endeavor, however, security must be a top priority. Securing your cash and products doesn’t have to be difficult. With the right tools in place, dispensaries can protect against internal theft, shrinkage and external threats, and protect employees while increasing efficiency and convenience for customers.
Contact Contact Jeremiah O’Connor by email or at (415) 483-1524 for a free, no obligation consultation. Or click here to schedule a meeting.