News Summary
Angelo La Roche faces significant financial challenges as he runs his cannabis dispensary, Green Klub, in New York. After opening in August, sales have not met expectations, leading to struggles with operational costs and stiff competition from illegal sellers. La Roche works tirelessly to balance his business with other commitments while aspiring to establish his own cannabis brand. As he looks to the future, the hurdles of New York’s regulatory landscape and market dynamics continue to press on his operations.
New York – Angelo La Roche is navigating significant financial challenges as he operates his cannabis dispensary, Green Klub, which opened in August 2023. Balancing the demands of his business, a full-time position at Mastercard, and selling Pokémon cards online, La Roche dedicates over 90 hours a week to his ventures. Green Klub remains open seven days a week, operating from 10 a.m. to 10 p.m. Sunday to Wednesday and extending to midnight Thursday to Saturday.
Despite initial hopes for success, La Roche reported disappointing revenues upon opening, generating only $1,300 on the first day and $51,000 in the first full month of operation. September saw an increase in sales, which approached $90,000. However, these figures still fall short of the average monthly sales of $397,000 noted by state data for cannabis dispensaries. To meet the financial obligations of rent and operational expenses, La Roche requires daily sales of at least a couple thousand dollars.
Green Klub is strategically located across the FDR from Pier 17 in the Seaport District at 108 South St. The dispensary occupies a spacious 2,200 square feet and operates under a 10-year lease costing $25,000 per month. La Roche claims that his rent is above market value, especially as the average for retail spaces in New York City was approximately $57 per square foot last year. Complicating matters, La Roche faces stiff competition from illegal dispensaries nearby that undercut prices.
The path to opening Green Klub was fraught with challenges, including a power outage that lasted five days, which likely resulted in significant lost sales. La Roche’s pursuit of a microbusiness license was also met with obstacles, but he secured the license in November 2024 after experiencing complications with a prior lease. Despite these hardships, La Roche has established his own brand, Haus by Green Klub, and he aims to cultivate his own cannabis strains in the future.
The New York cannabis market, which has reached a staggering $1 billion in retail sales, presents a mixed picture for legitimate businesses due to high operational costs and competition from unlicensed sellers. Though La Roche maintains optimism, he is acutely aware of the financial constraints that continue to influence his operations. He aspires to shift his focus solely to Green Klub by winter 2025, but the realities of taxation, the absence of access to traditional banking due to federal cannabis regulations, and ongoing competition pose major hurdles.
The situation La Roche faces underscores larger issues with New York’s cannabis legalization efforts, marked by bureaucratic red tape and market disturbances caused by illegal dispensaries. As the legal cannabis industry strives to establish itself, many entrepreneurs like La Roche grapple with the dual challenge of managing operational costs while navigating a landscape that is often hostile to legitimate businesses.
Deeper Dive: News & Info About This Topic
HERE Resources
Broward County Schools Plan Major Consolidation Due to Enrollment Decline
Austin Independent School District Proposes Major School Closures
West Virginia Board of Education Calls for Action on School Closures
Parents Rally Against Proposed School Closures in District 65
Happy Munkey Cannabis Dispensary Closes Brooklyn Location
Connetquot Central School District Changes Team Nickname in New York
LEEF Brands Launches New Extraction Lab in Upstate New York
Syracuse University Appoints New VP for Business Development
Texas Surpasses New York in Financial Employment Growth
202 Cannabis Co. Opens as Rockland County’s First Dispensary
Additional Resources
- Crain’s New York: Green Klub Owner Works 3 Jobs
- Wikipedia: Cannabis in New York
- The Times: New York’s Legal Cannabis Market
- Google Search: New York cannabis industry
- Crain’s New York: NYC’s Rent Prices and Cannabis Industry Struggles
- Encyclopedia Britannica: Cannabis
Author: STAFF HERE NEW YORK WRITER
The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
