The State of Nevada Marijuana Industry, Part 4
Week 4 of Recreational Sales in the Nevada Marijuana Industry; this article is part 4 of a 4-part series.
By: Zed Schlott, The Dispensary, NV
Prices have lingered around $2000-$2700/pound, mostly reflected by the level of quality rather than the brand. I feel dispensaries are becoming less and less inclined to lose margin on these products above $2500/pound and instead are facilitating deals with other cultivations and using their own vertical operations to sustain demand and keep profits up.
Blackbird has been doing a wonderful job transporting product efficiently to dispensaries this week. Not one hiccup, other than a 48-72 hour turn-around time. Dispensaries need to plan accordingly to purchase enough inventory without having to place additional orders in a short time.
Edibles are starting to roll out with the new packaging requirements; labels needed to be revamped to meet state guidelines and this is slowly starting to show.
Today there was a meeting on a variety of proposed regulations where the state was gathering feedback from industry stakeholders. At one point the speaker chose to ask that people only offer comments, not questions to their regulations… Regularly they consulted one another for answers, with very little besides “we will recognize that and improve it before regulations are finalized.”
Business is thriving with the lack of competition; unlike Colorado who had unlimited numbers of licenses and competition was in abundance.
That concludes the first month of the Nevada Marijuana Industry. Since then, headlines have been going crazy about Nevada Marijuana and the constant changes have not slowed. Anxious to see where things end up and fortunate to be part of this amazing industry!
This post is part 4 of a 4-part series, The State of Nevada Marijuana: An Insider’s Perspective.
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