On January 1st, 2018, when cannabis was legalized for adult use in California, lines at dispensaries were out the door and around the block. Bud-tenders were having one of the craziest days of their careers tending to first time buyers. Many of the problems were not only due to the amount of people, but also to questions regarding what first time buyers should get (1). To combat this issue, cannabis kiosks were invented.
Having a kiosk is a great return on investment. It can be a virtual sales assistant for customers, reduce labor costs, and eliminate standing in line. On average, retail kiosks have increased incremental sales by 7% (2). Kiosks can order and complete a transaction without the need for human interaction with a vendor.
Another great reason to own a kiosk is that it helps owners avoid the many problems currently plaguing the financial side of the cannabis retail business. Many banks have strict regulations regarding cooperation with cannabis dispensaries. C4EverSystems, founded by CEO Mark Goldfogel, says their kiosks act as a point of sale that accepts cash and credit cards.
“Our kiosks are designed to comply with the guidelines established by the federal government for banks willing to do business with marijuana dispensaries. Instead of paying a dispensary employee at the counter, patients deposit cash in one of our kiosks” (3).
When cannabis kiosks were first introduced to Colorado back in 2014, it was a great way for dispensaries to have greater ability to funnel their operating profits into the worlds’ financial institutions.
Although cannabis kiosks are only allowed in dispensaries in California, we hope regulations will adapt to eventually allow them to be placed everywhere from malls to airports. This might mean one day we will run into a cannabis kiosk at an airport, with a customer service representative validating consumer’s ID just like before entering a dispensary.Instead of placing a dispensary on-site, owners could opt to simply install a small, convenient kiosk. Airports and malls are safe locations and kiosks lock cash away in a secure safe, preventing theft.Having fully-automated kiosks in such diverse, family-friendly locations will not only revolutionize the way cannabis is perceived, but also greatly expand its consumer base.