With average sales during first two months around $2.5M, owner says business has generated more than double the revenue expected
By Mary Beth Roach
Sales at Syracuse’s first legal cannabis dispensary, FlynnStoned Cannabis Company, have been more than doubled what owner Mike Flynn expected when he opened in mid-June in downtown Syracuse’s Armory Square.
“Business has been absolutely booming,” he said.
Flynn said he had projected about $1 million in sales per month, but FlynnStoned averaged $2.5 million in each of its first two months. Numbers were not in for August at the time of the interview, but Flynn estimated that with the downtown location and the pop-up shop, Cannabis Showcase, they had set up on property on State Fair Boulevard, less than a mile from the fairgrounds during the run of the fair, sales would be close to $3 million. He added that each customer spends an average of $100.
Currently, a court injunction has been prohibiting the New York State Office of Cannabis Management from issuing or processing any new cannabis licenses, except for those that have been in the works before Aug. 7. The injunction stems from a lawsuit filed by a group of veterans over OCM licensing conditions. When that injunction is lifted, Flynn anticipates that his business might taper off.
Not only are sales big, but according to internet reports, the state’s OCM says that the 13,000 square-foot, three-story dispensary at 219 Walton St. is the largest one in the state in terms of size. As one approaches the shop, they will notice the front door handles decorated with metal hemp leaves. On the ground floor, customers are ID’d — since they need to be at least 21. On the second floor, there are numerous display cases of products, including flower, vapes, concentrates, edibles, drinks, tinctures, topicals and concentrates.
“Budtenders” are available for help. The third floor, called The Loft, is a lounge and event space. There are plans to have this space available for consumption once certain licenses are obtained.
Flynn had the entire site, the former Urban Outfitters on Walton Street, built out and ready to open on April 20, 2022, but then had to wait 15 months for his licenses to come through. They opened on June 16.
The date 4/20 is also known as National Pot Smokers’ Day, Weed Day or National Weed Day and is a celebration during which people come together to celebrate cannabis.
