BUFFALO, N.Y. (WKBW) — It's been a year since Dank 716, Western New York's first legal cannabis dispensary opened for business.
I met with Aaron Van Camp, the owner of Dank 716, to discuss his first year of business, the cannabis rollout, and the future of the industry in New York State.
Me: How was the first year for Dank?
Van Camp: Amazing, far exceeded our expectations for what we thought was going to go on. We were very lucky that we were open during the injunction so we beat it there. So we were the only store here and that really played a part in our success as a business and building relationships with customers here.
Me: What does success look like for you?
Van Camp: For us numbers wise we did tremendously well here. We anticipated doing half of what we did. It's been just really really amazing so far.
Me: Are you willing to share some of those numbers from the first year, in terms of sales?
Van Camp: We did just under $10 million, between showcases, we did $8.5 (million) here, and almost $1 million at showcases between partners at Bison Botanics and Empire Hemp out in Batavia.
Me: Industry-wide, not specifically Dank, how do you think the rollout has gone?
Van Camp: Very poorly so far. It's the lawsuits. A lot of people blame the state but the lawsuits really crushed this and made it so it's been really hard for people to get open. It's been really hard for people to operate. It's been hard for people to come to market, and be happy and comfortable doing business here knowing that another lawsuit could pop up any minute.
Me: Do you think overall it's been what everyone had hoped for?
Van Camp: Far below expectations. It's starting to pick up pace now. The governor really got on and made some changes in leadership but so far it's been slower than they wanted but it's really excelling at a fast pace. We went from two stores to 15 in a matter of weeks, and if you look at the map there's, I believe, 70 locations approved out here for dispensaries.
Me: Do you think there is a market for that many dispensaries in this city?
Van Camp: No. It's going to make it very very competitive for people to start. I feel good that we were the first to market. We have relationships here. We have done excellent customer service.
Me: The biggest challenges for the industry, do you think it's been the lawsuits and the holdup?
Van Camp: Lawsuits and taxes. People don't really understand the tax structure. They made some changes to the potency tax, which is very important. The governor, I've got to commend her for doing that, she stepped right in when people were demanding it, and dropped it down. It's still a little much.
Me: Future overall for the industry in New York State? What do you think?
Van Camp: It's going to generate a ton of money for the state. It's just as far as actually people making money it's much harder than people think. It's not just throwing the seeds in the ground, watching plants grow, and then selling them. There is a lot of red tape.
