Denver Cannabis market is about to get even hotter. The Denver City Council vote on April 17, 2017 will now allow dispensaries to extend hours of operation until 10:00 p.m. This new rule takes effect beginning May 1, 2017, and applies to all medical, retail, and combined medical and retail dispensaries located within the city and county of Denver. This change does not affect opening times for Denver dispensaries, which cannot open earlier than 8:00 a.m. Now with the new extend hours ready to take shape the question is, will that lead to additional revenues? The answer is simple, YES. Based on the current data that Business Brokers of Colorado has witnessed the new hours of operation will mean substantial revenue increases for many of the cannabis company’s in Denver. In fact, last year BBC had clients in other areas where the hours were extended to 12 pm. What did that mean in terms of revenues and expenses? The evidence points to two notable facts, one; higher traffic counts after 6 pm hours had increased nearly 30% and per customer sales transactions had also increased.
How will this affect the current trends in the marketplace? Easy, more revenues mean more money and more money will mean higher revenues resulting in higher sales pricing. BBC has seen a significant uptick again in buyers jumping into the Denver market from all over the world. Notable increase buyers are coming from areas where marijuana has passed but is still in the infancy stages or the rules and regulations are still huge hurdles. But one thing for sure Denver is the “meca” for cannabis as is Las Vegas is the “entertainment capital of the world”.
Denver Extends Hours Of Operation In Cannabis
Denver Cannabis market is about to get even hotter. The Denver City Council vote on April 17, 2017 will now allow dispensaries to extend hours of operation until 10:00 p.m. This new rule takes effect beginning May 1, 2017, and applies to all medical, retail, and combined medical and retail dispensaries located within the city and county of Denver. This change does not affect opening times for Denver dispensaries, which cannot open earlier than 8:00 a.m. Now with the new extend hours ready to take shape the question is, will that lead to additional revenues? The answer is simple, YES. Based on the current data that Business Brokers of Colorado has witnessed the new hours of operation will mean substantial revenue increases for many of the cannabis company’s in Denver. In fact, last year BBC had clients in other areas where the hours were extended to 12 pm. What did that mean in terms of revenues and expenses? The evidence points to two notable facts, one; higher traffic counts after 6 pm hours had increased nearly 30% and per customer sales transactions had also increased.
How will this affect the current trends in the marketplace? Easy, more revenues mean more money and more money will mean higher revenues resulting in higher sales pricing. BBC has seen a significant uptick again in buyers jumping into the Denver market from all over the world. Notable increase buyers are coming from areas where marijuana has passed but is still in the infancy stages or the rules and regulations are still huge hurdles. But one thing for sure Denver is the “meca” for cannabis as is Las Vegas is the “entertainment capital of the world”.