Marijuana Business Magazine November December 2018

RETA¬L BUS¬NESS STRATEG¬ES T he recreational marijuana industry is just getting its foot- hold in California, but Green- Stop already wants to shake up the market through automation. GreenStop believes automated vending machines designed to serve multiple customers simultaneously could slash wait times at dispensaries and bring more money to retailers. The West Los Angeles company unveiled its Smart Dispensary in April and is in the process of raising money ahead of rolling out the kiosk, mobile app and commercial software to dispensaries throughout California — and possibly other states and Canada by 2020. “By using the Smart Dispensary, we’re able to let dispensaries who are breaking even see hundreds of thousands of dollars — if not millions of dollars — added to their bottom line annually,” predicted Timothy Island, co-founder and co-CEO of GreenStop. Revolutionizing Retail GreenStop aims to slash wait times and boost revenue for cannabis dispensaries with its high-tech vending machines By Adrian D. Garcia EXECUTIVE SUMMARY GreenStop wants to revolutionize how customers buy cannabis at dispensaries via high-tech vending machines. The California company believes automated vending machines that simultaneously serve multiple customers could slash wait times at dispensaries and boost retailers’ bottom lines. Here’s what you need to know: • GreenStop unveiled its Smart Dispensary in April and is raising money ahead of testing the technology at Los Angeles area cannabis stores. • The Smart Dispensary is designed to allow customers to place can- nabis orders through an app from home or elsewhere, verify their IDs in the store and then quickly purchase products at the kiosk. • The co-founders of GreenStop come from retail backgrounds. They hired engineers and third- party manufacturers to provide the technical skills needed to design and develop the technology. • GreenStop plans to test its vending machine at large and small dispensaries to see where the system works best and iron out wrinkles before mass production. • The company hopes its vending machine will be in hundreds of North America locations by 2020. Timothy Island and James Edwards debut their Smart Dispensary automated kiosk. Photo courtesy of GreenStop 138 • Marijuana Business Magazine • November/December 2018