MJBizMag April 2023 - 39

CASH MANAGEMENT
Because they are seen as robbery targets, cannabis retailers need to have good cashmanagement
processes in place.
" We never have a big cash buildup at the store. We take payment methods besides cash, and
we don't keep cash on-site, we move it, " Kazan said.
He explained that Glass House uses third-party security transport companies to pick up cash
and get it to the bank. Such services are used in other industries, as well.
" It's not our personnel running around with cash, " Kazan said. " I think that's the smarter way
to go. It's a little more expensive, but it's safer. "
Gallo said retailers can take precautions at the cash register, such as limiting the amount of
cash at the store. He also recommends that clients install small cash boxes underneath registers,
where workers can drop large bills such as 50s and 100s. Once a certain dollar amount is reached
in the box, the cash is moved, limiting access to big bills and reducing the chances of theft.
Paying transport companies to pick up cash is an added expense,
but it creates a barrier of safety for cannabis employees.
One of the best ways to deter robberies
is to keep little cash on site.
Photo by Kate Lavin
mjbizdaily.com | April 2023 39
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MJBizMag April 2023

Table of Contents for the Digital Edition of MJBizMag April 2023

MJBizMag April 2023 - 1
MJBizMag April 2023 - 2
MJBizMag April 2023 - 3
MJBizMag April 2023 - 4
MJBizMag April 2023 - 5
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