![]() Trove beat this challenge by installing an automated cash management solution from Bibbeo, Ltd. It’s especially challenging for rapidly growing cannabis stores, including Trove. One challenge common among retail cannabis stores, however, is managing cash flow efficiently. The cannabis industry is among the fastest growing in the United States.īut to operate a retail store in this marketplace, owners must deal with some unique challenges, such as inhospitable banking regulations, an uphill battle with federal law, and higher taxes. Users spend nearly $30 billion dollars annually on marijuana, says the RAND Drug Policy Research Center, fueling double-digit growth in this arena. Selling recreational marijuana can be especially lucrative for retail stores. The retail cannabis industry is no exception. Trove’s blog and e-newsletter educate patrons on the finer points of cannabis.Įmerging marketplaces often present unique challenges for entrepreneurs. Meanwhile, Trove’s Gold Membership enables patrons to earn rewards, exclusive deals, and a chance to buy products only available to members. It also offers concentrates, drinks, pre-rolls and special deals every day of the week that include discounts on selected products. The store sells three strains of high-quality cannabis-Hybrid, Indica, and Sativa. Trove offers a full menu of products that is among the most extensive in the northwest. They also feature complementary products from local companies at their store. Trove focuses on providing value to its customers by offering a broad product portfolio at competitive prices. Lai and Reed have a passion for providing high-quality cannabis to customers and the community, and it comes through in their store, which is open seven days a week. Yin-Ho Lai and his partner Stephen Reed opened Trove in 2015. Known for its exceptional customer service and product quality, Trove is so well regarded by its patrons, it won a Silver Award at the Best of the Northwest show in 2016. Trove also has a knowledgeable sales staff. Located in Bellingham, it offers the area’s best selection of high-quality marijuana flower, infused edibles, concentrates, and topical cannabis products. Trove Cannabis is among the fastest growing recreational marijuana stores in Washington state.
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