It’s been nearly a decade since marijuana became legal in Colorado and Oregon for recreational use, and in a very short time, the cannabis industry has grown tremendously. In fact, it’s already a multi-billion-dollar industry and still growing every year as more states legalize cannabis for recreational use. That means there’s tremendous potential for you to launch a profitable cannabusiness.
Even though marijuana use is associated with positive vibes, relaxation, and good energy, it’s still important to secure your cannabusiness. Unfortunately, cannabis dispensaries face more threats than most other businesses, meaning you have to invest in security infrastructure that will protect you on all fronts. Continue reading to learn why and how you need to build a strong security presence.
Many banks won’t do business with cannabusinesses
Medical marijuana has been legalized in 29 states across the U.S. and recreational marijuana use is legal in 17 of those states. However, marijuana possession is still illegal at the federal level. With the use of marijuana still against federal law, it can be extremely difficult to find a financial institution that will bank with you.
With banks across the United States being so leery about the legality of marijuana use, many dispensaries are forced to deal exclusively in cash. Whenever you have a cash-based business, physical security is of the utmost importance.
Not only is having a lot of cash on site tempting to criminals, but it’s also alluring to employees. The fact of the matter is that we live in the real world, which is not an ideal world. With that in mind, you should address the security of your cannabusiness accordingly.
Video surveillance is the best way to mitigate internal security such as employees who are tempted by the cash in your register. What you invest in your security may save you exponentially more in product or money loss from employees.
Robberies tend to be more common at dispensaries
As you can imagine, when you’re dealing with large amounts of cash, you have to be aware of robbers. The fact of the matter is that dispensaries often have to open in some of the more crime-laden parts of town due to zoning laws that restrict where marijuana can be sold.
Due to the cannabis industry being largely a cash business, dispensaries tend to deal with more robberies than other types of businesses. With that in mind, it’s imperative to make sure you have a reliable security system, and you may even want to contract a security service to guard your premises.
If you recognize suspicious activity around your business, it could be a sign that someone has made your business their next target, meaning you need to update your security systems as soon as possible. Verkadea offers surveillance cameras with facial recognition technology that police can use to aid in making arrests in case your business is attacked. With a combination of security guards and cameras, you can make your cannabusiness exponentially more safe for you and your patrons.
Cybersecurity is as important as physical security
Cybercrime is one of the quickest emerging types of crime in the U.S. In fact, cybercrime is a big business and there are even contractors who provide cybercrime as a service. If you don’t think your cannabusiness is at risk of being attacked by cybercriminals, you need a reality check, a new mindset, and a better cybersecurity system.
American Marijuana is an example of an online medical marijuana resource that takes cybersecurity seriously. They’ve invested time and capital into building a system in which their business users and patrons can feel confident, knowing that their personal data is secure from prying eyes.
Running a cannabusiness and selling your own cannabis products can be a great way to earn a lot of money doing what you love. However, even though the cannabusiness should be all about positivity and good vibes, you have to be prepared for all of the possible threats facing your enterprise.
With that said, we are experts in comprehensive security systems and technology solutions, and the rise of cannabis security concerns represents an increasingly-common application of our expertise.
All right – ready to work through the implications of cannabis security for your business? Let’s get started.
What are the federal regulations for cannabis security?
When it comes to federal compliance regulations for cannabis security, there’s good news and bad news for cannabis businesses. The good news is that cannabis security isn’t regulated at a federal level – but the bad news is that the lack of federal regulation is only due to the fact that cannabis hasn’t been legalized at the federal level (as of June 2019).
This seems likely to change. The passing of the 2018 Farm Bill descheduled some cannabis products from the Controlled Substances Act for the first time, but, according to the American Farm Bureau Federation, “while the law expands the potential for hemp production, it does not create a system in which producers can grow it as freely as other crops. The bill outlined actions that would be considered violations of the law, such as producing a plant with higher than 0.3 percent THC content or cultivating hemp without a license; it even goes into potential punishments and what happens to repeat offenders.” Nevertheless, it’s certainly a step toward decriminalization.
And as legalization continues and becomes more comprehensive, it’s nearly certain that federal compliance standards will be updated as well.