So cash gets carried from one location to another the old-fashioned way. It’s not uncommon for a dispensary manager to drive many miles from north Denver to south Pueblo with $300,000 in the car. And there is nothing more dangerous in the cannabis industry than that type of activity.
In my time in the military, we would talk about OpSec, or Operational Security, for a mission.
In the cannabis cash world, OpSec boils down to this question: Are your employees keeping their own lips sealed about your business’ internal operations of moving cash? All it takes is one assistant manager to talk to one budtender over an after-work beer about his weekly routine, and that budtender to tell one of their friends a “crazy story” about how much cash is involved.
But hiring someone to transport your money for you has its own dangers. Obviously, a company doesn’t want to hire someone who runs off to Mexico with $500,000 in cash.
When talking with an outside company about cash-handling security, it comes down to setting up solid policy and procedures around how to take ownership of the cash, how it will be reported and tracked as it moves, and concerns like how to deal with any variances. For what we do at Iron Protection Group, our model for professional and secure transport is heavily focused on operational planning, and it’s done up front. The last step we come to is someone actually showing up to move cash.
So what security measures can you take when making the decision of whom to hire to protect your money when it’s in transit?
You have to do your own due diligence. Here’s a checklist:
- Is the company you are considering licensed and insured? Did you actually verify those two things, or accept their word for it?
- Are they professionals? Are they discreet, or are they driving around in a truck with a cannabis leaf on the side of it?
- What are their recruiting procedures? How do they vet potential employees, and what are they paying them?
- Will you be seeing the same person week after week? Or does the company fail to designate an employee you’ll be working with because they have a high rate of turnover?
Our discreet, military-trained employees at IPG are the most well prepared in the business, with a checklist of their own that they go through every single time they transport cash, down to checking tail lights of their vehicle. There is no complacency. The Standard Operating Procedure behind what we do when we transport cash is quite similar to a convoy moving in Afghanistan. At IPG, we work under guidelines created by experienced, intelligent people who were in the military, who have for a long time studied and carried out the best ways to keep precious cargo of all kinds safe.
The employees moving cash for IPG are vital to our business. I have to trust them personally, and my clients build trusted relationships with them as well—they want to see the same person each week.
Security demands a lot of contact and trust with clients. At Iron Protection Group, we pride ourselves on building plenty of both to provide optimal customer service.
If you would like to set up a conversation to learn about how IPG delivers the highest level of security in the business, drop us a line here, or give us a call. Colorado office: 303-759-1300; California: 916-242-0048.