NJ Leaf, Gynsyng, and Conservatory Cannabis Co. dispensaries in Jersey gave insights on how to own and operate a dispensary, the limitations, and the roadblocks in having a dispensary.
NJ Leaf Dispensary Operating in Freehold
The dispensary NJ Leaf officially opened in March 2023 for medical cannabis sales in Freehold in Monmouth County in Central Jersey. They got their Adult Use license in June of the same year from the NJ Cannabis Regulatory Commission (NJ CRC). NJ Leaf was the first dispensary in the state of New Jersey that was owned and operated by pharmacists.
The dispensary hired General Manager Luke Lieberman and Vice President of Operations, Sales, and Marketing Allison Jensen on November 1, 2022, before it opened. Their slogan is “Dispensing Wellness.”
Even with the large turnover in the industry in general, many of the employees remain from the original opening. The owner of the company, local Ritesh Shah, has a medical background. Shah is also the CEO of Legacy Pharmacy Group (LPG). LPG supports independent community pharmacies in a competitive market. Over the past 7 years, it has grown into the largest group purchasing organizations for independent pharmacies in the tri-state area.
NJ Leaf is hoping to expand in the upcoming months and open new locations soon. NJ Leaf is also holding a few upcoming events. They will be selling pre-roll advent calendars in November and will be doing a 5 days of Christmas sale, 25% off, with one of their vendors starting November 30th through Christmas Eve.
NJ Leaf sold judging kits for New Jersey’s recent legal Cannabis Cup at the 420 Expo.
Gynsyng Dispensary
Gynsyng Dispensary was awarded its standard dispensary license on October 19th, 2023, and opened on March 1st, 2024.
Located in Merchantville in Camden County in South Jersey, Gynsyng is run by Jana Murzenski and her husband, Tom Murzenski, along with business partners Keith Morgan and Michael Gorman. Morgan had previously opened Philadelphia’s second medical dispensary in 2018, Liberty Cannabis. Merchantville, New Jersey, is a small town just outside of Cherry Hill and is nearly 4 miles from the Benjamin Franklin Bridge.
Jana and general manager Samantha Quinlan spoke about the difficulties. But they also discussed the satisfaction that comes with opening a dispensary in New Jersey.
Quinlan said that even though Merchantville is a small town, they get a lot of traffic from the Philadelphia area across the Delaware River, where adult-use cannabis is not legally for sale.
They do predominantly see locals and “…the typical walking my dog in town, let me stop in and pick up something for the evening customers.” she noted.
Jana’s husband, Tom, wanted to open the dispensary because he was helping people fill out their applications for their medical cards in Pennsylvania. After New Jersey opened the market for cannabis businesses, the couple decided together to open their own dispensary. “And it’s not just buying it, getting high, and enjoying your life, but it’s a way of solving a lot of problems, a lot of aches and pains, and just dealing with the world that we live in nowadays,” said Murzenski.
Conservatory Cannabis Co.
Conservatory Cannabis Company opened its dispensary for adult-use cannabis sales earlier this year in Egg Harbor Township by Atlantic City in South Jersey.
But it began its journey when Chief Operator Officer (COO) Jon Fleishman visited a dispensary in Colorado and felt inspired to bring the opportunity home.
Jon and CEO Kayla Montoro formed the company in August 2019.
In June 2022, they applied for a recreational retail license with the CRC. The CRC awarded them the annual dispensary license needed to open in April 2023, allowing them to begin construction in January 2024. It opened on August 17th, 2024.
The April 2023 award letter from the CRC went to Montoro in Margate City by AC in Atlantic County.
“It’s all about customers and keeping the customers, making relationships with them 100%. That’s definitely something that we strive for with our teams specifically and, like I said, with their experience, but genuinely. We try to create an inviting vibe that keeps you wanting to come back. And also, this is something that we really try to focus on and separate ourselves. So that way people are more knowledgeable about the products because I know down here it’s kind of tough going into a dispensary and having a lot of displays to see.” said Amanda Penque, Assistant General Manager of Conservatory Cannabis Co.
Their name, Conservatory Cannabis Co., or CCC, was chosen precisely. They wanted to encompass the serenity and down-to-earth ambiance of a plant conservatory while mixing in the fun of a musical conservatory.
Alex Moore, artist and muralist, made their vision come to life with a mural featured on CCC’s wall. The design includes a wooden sun featuring music notes to “Here Comes the Sun” by The Beatles. The sun is displayed atop a painting of plants that you’d find in a typical plant conservatory.
Banking, Regulations, and Cannabis
A difficult aspect of opening a dispensary is banking. Also, federal marijuana prohibition prevents dispensary owners from writing off expenses. This greatly cuts into profit margins. “People think, oh, let’s open a dispensary. I’m going to be rich in no time. But there’s a lot of expenses, a lot of regulations that you have to follow. There’s a lot of tax problems that come along with it because it’s federally illegal.” stated Murzenski.
According to FinCEN Guidance, all Marijuana Related Businesses transactions involve funds from (federally) illegal activity. So all deposits, withdrawals, or transfers, banks must file one of the following:
- Limited SAR (Suspicious Activity Report)if the business is NOT violating state law or any Cole Memo priority.
- Priority SAR if the bank believes the business violates state law or Cole Memo.
- Termination SAR if “facilitating effective anti-money laundering compliance” requires terminating a business relationship.
When asked what makes it difficult to open a dispensary, Quinlan and Murzenski spoke about the regulations. “It’s a several-year-long process. So we [Jana and Samantha] actually started this journey back in 2019. The building opened in 2024,” said Quinlan.
Differentiation in Dispensaries
Due to the large amount of dispensaries sprouting up every year in South Jersey, it can be hard to differentiate. Many dispensaries are just one block apart or even across the street from one another.
Conservatory Cannabis Co. has a Flower Station. So customers can go to smell and learn about the different strains they sell, as well as a station to learn about the different types of products they have.
Consumption Lounges
The CRC announced the rules for Cannabis Consumption Lounges on January 17th, 2024. Cannabis consumption areas can operate indoors or outdoors. But lounges cannot sell tobacco, alcohol, or food (though patrons can bring their own food), and patrons must be 21+ with a valid ID. Each company can open only one consumption lounge, regardless of the number of locations it owns. The endorsement fees are set at $1,000 for micro businesses and $5,000 for standard businesses.
Gynsyng wants to be one of the many Consumption Lounges opening in Southern New Jersey. Once the state application opens, their consumption lounge would include educational speakers, game nights and vendors who can use the space to promote their products. They currently use the space to hold monthly Q&As.
