Having worked in Denver-based dispensaries for over two years, I found the work to be rewarding. The forefront of this industry is a change for the world, but is it ready for it yet?
Here I outline some of the weaknesses of the cannabis industry in Denver, Colorado. These are things that you are not likely to hear outside of the industry. I believe that regulation is an amazing modern growth. Like anything good, there must be honest reflection if we are to move forward properly and for the good of everybody.
There are a large amount of holes in the business of cannabis in regulation, general upkeep, and staffing.
In CO, the small businesses are not required to give benefits of any sort, but they also get hamstrung by the government. Even for managers, there is no such thing as sick days or PTO. Forget about a 401ks or health insurance. But on the opposite side in this industry there is no such thing as a write off. Owners must purchase paper goods, staplers, pipes, and all other things that the government lets normal businesses get a tax break on. But that isn't it.
Because the industry makes so much money, the owners are simply people who had money to spend at the right time, not business men or entrepreneurs. This lack of business-sense leads to the greatest stagnation. This is a great weakness for the 'budding' businesses. They do not have the foundation for a long lifespan. Right now, because of the regulation, these business must run mostly in pure cash. While big companies can skate around that with loopholes, there is no banking institution. I personally got paid in cash every week. I still paid all my taxes (federal and state) but it is very inconvenient in the modern era to have to deposit a cash paycheck. The industry is also riddled with poor workers (insert stoner joke here) who are paid worse than most fast food employees (no offense, I love fast food as much as the next guy) and patients who are using the system to provide pounds of cannabis to their friends and the streets. On top of that the native Coloradoans are definitely not a fan of all the people moving to their beautiful state. So it goes.
I love cannabis. It is a great tool for finding oneself, helping curb pain, or with mental anguish such as PTSD. But it is still a baby industry, trying to find itself in a constantly changing environment. There is a long road ahead but the future looks bright as long as the cannabis industry can get a little more legitimacy. The federal regulation seems just around the corner and will be a welcomed relief as I see it.
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