How Cannabis Businesses Count Their Cash Each Day
[This article was written by Rachelle Wilber.]
Cash management and handling are crucial for any business. When running a cannabis dispensary, this becomes a severe issue. The cannabis business has for a long time been limited to operating solely as a cash-only business. This means that cannabis businesses have to handle a lot of cash. If you are running a growing cannabis business, you will soon have to rethink your money handling strategies. Manual cash counting is marred with accountancy problems and wastage of time counting bills and coins. Like any other business, cannabis businesses require cash handling systems that reduce human error as much as possible. Such a system involves the use of commercial-grade money counters.
Commercial Grade Money Counters
Money counters will provide greater reliability, faster speeds, and better accuracy. Whether it’s a farm or a dispensary, your cannabis business will handle significantly more cash than any other venture of similar size. If your cannabis location is just starting, then it is still practical to count cash by hand. But as years go by, the business will grow. Experts have projected that the legal cannabis market will grow to over $150 billion by 2025. By that time, counting that much cash by hand will be completely out of the question.
Are Commercial Grade Money Counters Reliable?
A commercial-grade money counter will help your business count and process large volumes of bills faster. There are several cheaper machines. However, these cheap machines will not provide the same efficiency or time saving as the commercial-grade machines. Desktop commercial money counters are mostly used by credit unions and banks. If such institutions are confident in the commercial money counters, you should also consider getting one for your cash-intensive business.
Used Automatic Bill Counters
If cash is the center of your business, you wouldn’t want to compromise it by going cheap. Instead of opting for cheap, inefficient money counters, quality used bill counters are also a viable option. You can save money and time in the cash office by utilizing used automatic bill counters. Even with this budget-friendly option, you can get a superior machine that can identify and sort different currencies into one pile. A bill counting machine is the solution to cash-intensive ventures like a cannabis business.
If you don’t have the budget for a new commercial-grade money counter, you can get a quality used machine from retailers like Financial Equipment Company at a much more affordable price. With reputable retailers, each user equipment is sufficiently tested and examined to guarantee efficiency and quality.
Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on Twitter and Facebook: @RachelleWilber; https://www.facebook.com/profile.php?id=100009221637700