POS System Crash: Financial Impacts for Dispensaries
By Green Bits
News broke this week about a point-of-sale system crash that affected over 1,000 dispensaries and cannabis retailers across the United States. The cause is unknown, but it is being contributed to an alleged cyber attack.
The 1,000+ stores affected were given a recovery timeline of "a few days to a few weeks". If a cannabis retailer or dispensary had to close for a "few days to a few weeks", how much revenue could they lose?
How much revenue does the average cannabis retailer produce in a year?
Here are the top 10 revenue generating cannabis retailers in the state of Washington and their estimated 2016 sales revenue, according to www.502data.com.
How much revenue do they stand to lose if they have to shut down for a "few days to a few weeks"?
Here's how much each store would lose if they had to close for a day, week, or month.