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On April 20, 2023, cannabis retail business Dazed Cannabis – which owns two dispensaries in Massachusetts – opened its first New York location in Manhattan’s Union Square.
The shop operated as a popup until the business completed renovations on Dazed Union Square’s permanent storefront. Dazed held a grand opening celebration on Nov. 9, and has been operating from there since.
In a Q&A with NY Cannabis Insider, Dazed Cannabis co-founder Rich Rainone answered questions about how business is going, what’s selling best and what the future for Dazed Union Square looks like.
How many customers are you seeing on weekdays and weekends?
We can see up to 1,000 people per day, depending on several factors. Since we are a store that sits on the edge of Union Square Park, the largest factor is the weather for us. On a rainy day we do less people because people seem to go in a straight line to their destination. But on a nicer day, we see higher traffic and more volume because people tend to shop around more. Thursday through Saturday are our busiest days, as they are in most retail environments.
How does that compare to your projections before opening Dazed Union Square?
Our projections are in line with what we hoped for. We get better every month, and we are now seeing many repeat customers on top of our new customers. The feedback so far has all been incredibly positive, but we also know that we need to stay on our toes to always be a step ahead of this ever-changing industry.
How many full-time and part-time workers do you employ at Dazed Union Square?
35.
What kinds of products are selling the most at Dazed Union Square?
Flower and prerolls always sell the most.
What brands are selling the most at Dazed Union Square?
Our best sellers currently include Rove, Back Home Farms, Dank, House of Sacci, and Hudson Cannabis.
Which demographics do you see as your target market at Dazed Union Square?
The Dazed consumer is truly everyone. We are seeing people from all walks of life come into our dispensaries for the Dazed experience. Being in the heart of Union Square, we cater to the community, which is extremely diverse and spans all ages and ethnicities.
Dazed Cannabis co-founder Rich Rainone.Dazed Cannabis
Can you describe your business experience outside of cannabis?
Prior to co-founding Dazed, all three owners have been serial entrepreneurs. We have all been starting and running our own businesses in one way or another since we were kids. This is one more reason why we work so well together.
How does that experience translate to running a cannabis dispensary?
Running a cannabis business is like any other industry, except the legal cannabis industry is new and just becoming regulated. It’s a lot more difficult to navigate than the other industries I’ve worked in, but that’s why there is so much opportunity.
How much of a problem do illicit cannabis shops present to your business?
While we’re not really concerned with illicit business affecting our bottom line, I am concerned about what it does for the industry and community at large. As an advocate for the plant and all of its wellness attributes, I’m pushing for full legalization. Having a rampant illicit market that is indistinguishable from the legal market is not good for anyone in the long run.
Are you worried about competing with adult-use dispensaries owned by ROs?
Our focus is on the growth of Dazed, and ensuring the success and betterment of our staff. We believe that dedicating our energy to what we excel at, rather than on external things we can’t control, is the most effective way to stand out in the market.
Dazed Cannabis Founders (left to right) Chris Vianello, Rich Rainone and Keshawn Warner inside Dazed Union Square dispensary in Manhattan.Dazed Cannabis
Can you tell us about your long-term plans for your store?
Dazed is all about building community and giving back. We are already continuing our brand expansion with the recent opening of Dazed Monson and we’re looking at more stores in New York and Massachusetts as well. Ultimately, we’re looking to be a household name when it comes to cannabis and lifestyle. We’re tapping into fashion, music, art and culture. We’re just getting started.
What state cannabis policies/regulations do you think are the most helpful to your business?
We took full advantage of the CAURD program and continue to use resources that are offered to us. This includes our partnership with ACS to give out lockboxes, no questions asked.
What state cannabis policies/regulations do you think present the most challenges to your business?
Frustration for us comes from having to wait on the state for their responses and/or approvals on new opportunities. Things take much longer than expected when you are dealing with state regulators. We have seen things get unnecessarily delayed for up to a year for something that could be done inside of a few weeks.
Can you describe how you’re hiring and training employees?
Our hiring process is typically done online (such as Indeed, etc), with a few referral-based hirings as well. To date, we have only promoted “from within” at our three stores and have never hired a manager from the outside. We seek individuals who align with Dazed values and the diverse needs of the cannabis industry. We inspire a fun environment and a laid-back work culture that works for us. We’re committed to continuous professional growth of our staff and want them to succeed as much as we want to succeed.
What advice would you give to other entrepreneurs planning on opening dispensaries?
Expect to get back what you put in. If you do it part-time, expect part-time results. If you go all-in, then expect much better results. It’s not always easy to do because we are always chasing something, but we have found that no matter how fast you are trying to go, the industry controls your speed, not the other way around. So sit back and enjoy the ride.