The cannabis business is currently the fastest-growing industry in the United States and it shows no signs of slowing. In 2016, the industry was valued at $6.7 billion and is expected to create more jobs than manufacturing by 2020, according to Forbes.
In spite of this boom, the legal inconsistencies inherent in the cannabis business add to its list of vulnerabilities. Marijuana is still a schedule 1 drug at the federal level, which conflicts with the state laws in states where cannabis has been legalized for medicinal or recreational use. This legal disparity is one of the main reasons the cannabis industry operates primarily in cash transactions. Federal laws make it illegal for banks to accept funds made off the sale of a federally illegal substance.
Because the cannabis business is a highly profitable business that deals with a desirable and valuable product. With the legal gray area that surrounds it, it is considered one of the most vulnerable industries in the U.S. Business owners are in need of security solutions to protect their vulnerabilities and fortify their profitable businesses.
Cannabis Security Strategizing
Even though cannabis has been legalized in some states, extremely strict safety regulations have been imposed to protect the controlled substance. Becuase of the volatile nature of the cannabis business, nearly every aspect of security is heavily regulated. In other words, implementing a security strategy is essential, both for the protection of your business and the meeting of strict compliance standards.
When it comes to selecting the right GPS tracking devices to use in the protection of your business, Lightning GPS can help ensure you are meeting the standards of your security protocol.
How GPS Trackers Work for Your Cannabis Business
With any retail business, a product is at greater risk during transport from the distributor to store. In the cannabis industry, vulnerabilities are increased because both cash and crop usually need to be transported and handled in large quantities. While hiring armored cars for transportation services can add levels of safety, some companies prefer to have all work done internally, for safety reasons. This saves money and increases some aspects of security, but it can also increase the risk for some of the people involved in the transport chain.
With GPS trackers, business owners and managers can monitor shipments, vehicles, employees, etc. to ensure that everything and everyone is making it safely to their destination. Trackers can be used for a variety of applications including:
- Monitoring bags or boxes that contain cash or product
- Keeping tabs on large equipment
- Tracking vehicles that are tasked with transporting product
GPS tracking can be extremely effective, and one of the reasons it works so well is the intuitive, customizable platform. Lightning GPS Cloud Software enables you to view all of the facts related to each tracker, whether that means viewing live locations, monitoring ongoing travel, or viewing the breadcrumb trail of a device's location history.
Also, a manager can set up custom alerts based on a variety of parameters. For example, one option could be motion-activated tracking, which will cause a notification to be sent if a stationary device begins to move unexpectedly. Other alerts can be set to identify speeding, route changes, unexpected stops, etc. Geofences are useful tools that allow managers to draw boundaries around certain areas on the map, ensuring they will be notified the moment a barrier is crossed.
Putting a GPS strategy in place can help prevent many of the unwanted altercations a business owner may encounter, including:
- Employee theft
- Cargo theft
- Armed robbery
- Smash-and-grab operations
A manager can package cash or product with a GPS tracker, giving them the upper hand when it comes to tracking stolen goods or monitoring the safety of assets in transit.
GPS Tracking As a Business Tool
Whether your business is in the cannabis industry or not, GPS tracking devices can offer a number of important benefits, including safe transport and peace-of-mind. If you are a business owner, contact the Lightning GPS team to learn more about how GPS tracking can help protect, optimize, and secure your business.