Why Are People Still Buying Failed Colorado Dispensaries?

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Dear Stoner: Why are people still buying dispensaries in Colorado? After how much sales have gone down, it doesn't seem like the best business to be getting into right now — but I still see old dispensaries getting bought all the time.
Sugar Steph

Dear Sugar Steph: We see plenty of otherwise smart people take on dumb projects. Blame it on hubris, passion or being blinded by personal desires, but countless NFL coaches and single women have wasted their time on loser prospects. Business owners aren't that different, especially when we're talking about the cannabis trade, which is still alluring despite high taxes and strict regulatory and financial rules.

click to enlarge

All three Altitude the Dispensary locations were recently purchased by a new chain called Fired Cannabis.,

Scott Lentz

A lot of cannabis business owners looking to get out of the industry have debt they can't pay, and that can lead to an extremely cheap (or "free") dispensary or cultivation for anyone willing to pay off that debt. That may not be enticing enough for us, but some business owners think better times are ahead for those who survive this long and painful weeding-out process in Colorado. We're still seeing plenty of stores swap ownership in the meantime, but it's hard to fathom keeping all these dispensaries open as Colorado marijuana sales decline year after year.

Send questions to [email protected].