Circle K and Green Thumb Industries have joined forces to open 10 gas stations across Florida that will begin selling cannabis products next year.
According to Green Thumb Industries’ CEO, this deal could “normalize weed” by integrating it with mainstream products. Unfortunately, for medical cannabis stakeholders, this move represents a major step backward.
1. Convenience
When you need to fill up your tank or grab some snacks, the gas station dispensary is the ideal place. Not only are they the most convenient way to buy these things, but they also offer one-stop shopping for many products and services.
Convenience store owners are always on the lookout for ways to boost their profits, and adding a dispensary can be just that. They can offer products at discounted prices and advertise their business on social media platforms like Instagram.
Today, there are over 150,000 convenience stores in the United States that generate an annual sales total of $500 billion. To remain competitive and remain profitable in today’s rapidly changing environment, these businesses must adapt to accommodate for a mobile population, technological advances and shifting consumer habits.
Circle K, a global convenience store chain, announced it is joining forces with Green Thumb Industries to offer in-store marijuana products. They plan to open 10 “RISE Express” stores at their Florida gas stations next year.
2. Safety
Safety should always be the number one priority at every organization, but it’s especially critical in the cannabis industry. Production and distribution in this sector involve highly hazardous chemicals and equipment whose failure could result in serious injury or death.
For an organization to be successful, they must have a safety program that is well implemented and monitored by an experienced team. This includes training sessions as well as an effective safety communication strategy.
To guarantee your safety program is successful, have an honest and open dialogue about what needs improvement. It would also be beneficial to create a list of hazards that are frequently occurring in your operation and ensure they are addressed as soon as possible.
Finally, the best way to assess your organization’s hazard control capabilities is through an Occupational Safety and Health Administration (OSHA) inspection. This gives you a chance for your safety program to be evaluated against similar programs in your region and allows for measuring progress over time.
3. Taxes
Gasoline is an example of a product subject to multiple taxes. The 18.4-cent federal excise tax must be paid by all retailers, while most states also levy additional levies on gasoline purchases.
New York collects a fuel tax that’s added to the price of regular unleaded gasoline. During tax holidays, however, the state temporarily suspends these taxes in an effort to lower prices at the pump.
Many New York counties have recently passed laws capping their local sales taxes on fuel. Saratoga and Schenectady Counties both approved caps of $2 per gallon, while other regions have reduced their rates accordingly.
While a temporary tax holiday may provide drivers with some respite, it won’t address the underlying causes of high gas prices that have hit American wallets hard this year. Prices remain slightly higher than one month prior due to crude oil’s surge in price – an important factor in driving up fuel costs.
4. Legality
Recently, you may have come across reports that cannabis will soon be sold at your local gas station. According to Bloomberg, Green Thumb Industries Inc. – one of America’s biggest cannabis companies – will partner with convenience store chain Circle K and begin selling licensed marijuana at 10 of their 600 Florida retailers starting next year.
Though marijuana remains illegal on the federal level, it’s legal in Florida for medicinal use. There, more than 700,000 residents possess medical marijuana cards in that state.
Gas stations are ideal locations to sell marijuana, since many Americans already shop there for age-restricted drugs like tobacco and alcohol. Recently, some locations have ventured into the cannabis business by offering CBD products that don’t contain psychoactive THC but still give customers a buzz.
Native Roots, one of Colorado’s largest dispensary companies, has implemented a similar model at two gas stations near Colorado Springs. While these stores aren’t allowed to sell traditional convenience store items like cigarettes and snacks, they do sell smokable marijuana flower, pre-roll joints, gummies and vapes.
