• LinkedIn
  • Facebook
  • Twitter

CPAs & Advisors to the Cannabis Industry Since 2009 Schedule An Appointment

Bridge West LLC
  • About Us
    • Firm Overview
    • Leadership
    • Our Companies
    • Industry Affiliates
    • International Affiliations
  • Services
    • 280E Mitigation
    • IRS and State Audit Assistance
    • Advisory Services
    • License Application Advisory Services
    • Business Valuation
    • Financial Statement Audit and Other Attest Services
    • Tax Compliance
    • Outsourced Accounting Services
    • Investment Advisory
    • Technology Services
  • Industries
    • Cultivator
    • Processor
    • Dispensary
    • Vertical
    • Hemp
    • CBD Retail and E-commerce Operators
  • Events
  • Cannabis News
    • CannaBlog
    • Podcast
    • Webinar
    • Videos
  • Client Access
  • Careers
  • Contact
  • Menu Menu

Coronavirus COVID-19 causing a run on grocery stores, liquor stores and dispensaries

in CannaBlog

Coronavirus COVID-19 causing a run on grocery stores, liquor stores and dispensaries

CannaBlog by Jim Marty, CPA, CEO and Founder of

Bridge West CPAs and Advisors to the Cannabis Industry

March 16, 2020

 

 

I write this blog while under self-imposed quarantine at home.  After weeks of heavy travel, I am happy not to be on the road.  Here are some observations from clients I spoke with over the last few days.

The run on shopping at grocery stores and liquor stores is extending to dispensaries.  One large client in Illinois said they are having record days. Other Bridge West clients around the country are experiencing similar spikes in sales. Cannabis customers and medical marijuana patients are stocking up for the potential of long stays at home.

What does the current COVID-19 virus scare mean for the U.S. cannabis industry?  Here are some observations:

The changes and challenges that are coming relate to two interwoven issues, product supply and labor.

It is clear that demand will spike so cultivation and harvesting operations need to continue.  Medical patients will need their medical marijuana, adult use will be strong as it appears, and we will all be getting an unplanned two week stay at home.

There is no way to stop the plants currently being cultivated from growing.  They need attention every day, nutrients need to be added and they need to be watered.  Harvests need to continue to save the inventory and meet demand. New baby clones need to be planted to meet future demand.

This brings us to the other issue facing the cannabis Industry during the COVID-19 crisis, labor.  Some employees will not want to come to work for fear of contagious transmission of the virus.  Others will be willing to come to work.  Try to get surgical mask for cultivation and retail employees.  Disinfectants and sanitizers should be sprayed on counters and other surfaces that people touch.

There is no doubt that there will be a labor shortage in the next few weeks and cannabis businesses will have to learn to cope.  This is a good chance to make your operation more efficient by learning to do the same work with less people.  One upside is this industry has a young demographic of workers who seem less prone to getting the COVID-19 virus.

By using common sense and good business planning the cannabis industry can meet the market demand for products and emerge from this crisis stronger and more efficient.

Be safe and stay tuned.

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail
https://bridgewestcpas.com/wp-content/uploads/2023/02/thumbnail_BridgeWest_2023_Powered_800.png 0 0 Brigid Galvin https://bridgewestcpas.com/wp-content/uploads/2023/02/thumbnail_BridgeWest_2023_Powered_800.png Brigid Galvin2020-03-16 14:05:152020-03-16 14:45:29Coronavirus COVID-19 causing a run on grocery stores, liquor stores and dispensaries

Newsletter Registration

Recent Posts

  • 2023 Farm Bill
  • Cannabis C-Corps: Filing Requirements & Penalties for Not Extending
  • Minnesota Cannabis Updates 2023: Current License Holders
  • Why You Should Outsource Accounting for Your Cannabis Business
  • Updated Cannabis Industry Events

Services

280E Mitigation

IRS and State Audit Assistance

Cannabis and Hemp Advisory Services

Cannabis License Application Advisory

Business Valuation

Audit and Assurance

Tax

Outsourced Accounting Services

Investment Advisory

Technology Services

Resources

Contact

Events

CannaBlog

Leadership

Client Access

Serving all cannabis legal states

Headquarters:
7900 International Drive, Suite 800
Bloomington, MN 55425
(303) 651-0304
View Map >

© Bridge West LLC™ 2023 Privacy Policy
  • LinkedIn
  • Facebook
  • Twitter
7th Annual NOCO Hemp ExpositionNOCO hemp logoHouse passes bill to provide coronavirus relief; Senate expected to act this...
Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

OKLearn more

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy
Accept settingsHide notification only