While sales of cannabis products (from edibles to smokables) are brisk as a response to the pandemic’s stay-at-home or seeking-comfort conditions, the major cannabis cultivators are taking a more serious look at what could happen to the cannabis industry – both medical and recreational – as the unemployment rate goes to over 20% and gets as bad as the Great Depression and a very bad recession (possible depression) is unfolding day by day.
Cultivators are looking at a variety of ways to manage their finances in anticipation of a possible downturn in the buying patterns and abilities of consumers in states that permit cannabis sales. As the summer goes on will the large numbers who are currently buying cannabis products be able to afford continuing to buy them? And if not, that is going to immediately put financial pressure on cultivators and manufacturers or processors.
Among the measures taken by cultivator executives or managers is to be more self-reliant in taking care of their equipment and machines. They are also examining how they can recycle PPE as a response to the additional quantities of PPE needed as the covid-19 pandemic continues in outbreaks and safety measures continue apace.
Other companies are doing tight-beltening audits so they can burrow down deep into their profits, loss and expense records to see how good a shape they’re in, or not, and need to make adjustments. One of the major expenses is the supply of covid-19 safety materials, including sanitizing solutions and the PPE required in keeping operations clean, which is part of the marketing check-boxes for cannabis cultivators and producers.
Our extraction / trimming machines have been designed and manufactured since 2011 to be the best equipment a processor can buy in terms of engineering and dual purpose functionality, but also for affordability.
