3 Cannabis Security Take-Aways From MJBizCon and MJ Unpacked 2021

This year, the first in-person MJBizCon since 2019 was a success with 35,000 people in attendance. The conference, which took place from October 19-22 at the Las Vegas Convention Center, hosted over 1,300 exhibitors covering every aspect of the cannabis industry. Retailers could find packaging and payment solutions, cultivators could find new ways to increase their yields, and processors could access advanced methods of extraction. The conference even provided education and connections for those looking to enter the thriving industry.

In addition to those in attendance at MJBizCon, an alternate, more exclusive conference titled MJ Unpacked hosted another 2,500 ‘delegates’ from retailers, brands, investors, and delivery/distribution services. Hosted at the Mandalay Bay Resort and Casino from October 21-22, this conference’s first in-person show was a successful and popular event. While MJBizCon aimed to cover all aspects of the cannabis industry, including CBD and hemp, MJ Unpacked was targeted at retailers and brands and designed and the exhibitors and speakers reflected this. Though each event had their purpose, it was obvious that security and compliance are still major factors in licensing and operating a profitable cannabis business.

#1: Increased Focus on Training and Standard Operating Procedures

As this industry continues to grow and more states come on board with legalization, the need for training and established standard operating procedures will continue to grow. MSOs (multi-state operators) and branded cannabis ‘chains’ are becoming more common and these businesses require standardized training and operating procedures to ensure their company runs smoothly. This increased focus was apparent at both shows, with companies like WēEd by Learning Rebels, BuildMySOP.com, and iComply in attendance.

#2: Smart Safes and Cash Counters are Becoming More Popular with Retailers

Although smart safes and advanced cash counters are relatively new in the security industry, the cannabis industry has adapted to include them rather quickly. These physical security elements had a much larger presence at MJBizCon and multiple exhibitors throughout the conference hall had these devices on display, such as Southern California Safe Company, Smart Safe USA and Tidel. Since retailers often have large quantities of cash on-site, these smart safes and cash counters help these businesses remain in compliance.

#3: Businesses Want More Advanced Security Technologies

While most cannabis businesses are required by regulation to have alarms and video surveillance, modern cannabis business owners are looking to secure their facilities using more advanced security technologies such as analytics and remote functionalities. Multiple exhibitors innovative video cameras, surveillance systems, and other security devices that can work interconnectedly to secure a business such as Hanwha Techwin America, March Networks, and Safety Vision. This desire for more advanced security technologies will likely continue to grow as the industry continues to develop.

How Can Sapphire Risk Help?

Tony Gallo and the team of experts and consultants at Sapphire Risk Advisory Group have attended MJBizCon since 2013. Follow us on social media to stay up to date with more security best practices and cannabis industry updates!

Author

Katharine Baxter is the Lead Technical Writer and Industry News Editor for Sapphire Risk Advisory Group and is responsible for creating compliant security plans for cannabis business license applications. Katharine obtained her two Bachelor’s degrees in Journalism and Political Science and has worked in the cannabis industry for over two years. Katharine is a published author on cannabis and security and has covered topics such as cannabis security best practices and industry legal updates.