Fine Fettle, a medical and recreational dispensary in West Tisbury — as well as the Island’s only licensed growing facility — announced that it will be closing in September.
Benjamin Zachs, chief operating officer of the Connecticut-based company, has said that because of the difficulties of hosting a dispensary on an island, and with cheaper options off-Island, they couldn’t make the operation financially viable.
“It sucks,” Zachs told The Times. “We haven’t been able to crack the nut to not lose money.”
The COO said he is willing to work with a potential buyer to take over the operation.
The possible closure of the growing operation in the shoulder season raises questions about how recreational marijuana could be sold on the Vineyard, with federal laws restricting the flow of cannabis over water and by plane.
The U.S. Coast Guard, which patrols federal waters, has said that they would treat the possession and use of cannabis under federal law. While the Biden administration has announced it would loosen regulations, the federal government currently treats marijuana as the same class of drug as heroin.
But the state’s marijuana regulators, the Cannabis Control Commission, are scheduled to review rules surrounding the transport of product to the Islands in a hearing scheduled for today.
Fine Fettle first opened as a medical dispensary in 2021 after inking a landmark deal with Geoff Rose, owner of dispensary Island Time, earlier that year. Island Time in Vineyard Haven is the only other dispensary on the Vineyard.
Zachs said they plan to close the growing facility, although he added that there has been interest in purchasing the operation. What the asking price is for the operation, he wouldn’t say, but noted that he is willing to work with an interested buyer.
Zachs said he believes the reasons for not getting the revenue they expected are twofold.
For one, the recreational marijuana market has been somewhat flooded with stores since voters supported the recreational sale of marijuana in 2016. A number of new locations off-Island have opened that are on the way to the ferry, including locations in Wareham and Mashpee. Zachs said that it’s easier to purchase the product on the way to the Island than trying to drive to West Tisbury at the height of the summer from down-Island.
And the off-Island product is cheaper, because of the nuances and challenges that come with operating a dispensary on an island. Fine Fettle has to provide its own product testing, which comes with its own costs; some materials have to be sent off-Island, leading to further costs. And like other Island businesses, renting a space is not cheap. And there are additional challenges to growing a product on a yearly basis with a seasonal clientele.
While off-Island dispensaries have kept their costs down with more stores opening, Fine Fettle’s costs have not stayed competitive.
“We just haven’t seen the consistency of demand that we would have hoped,” Zachs said.
Fine Fettle is a Connecticut-based business that also operates medical and recreational dispensaries off-Island, including in Stamford and Norwalk, and plans are in the works to open several dispensaries in Georgia, including in Athens.
Zachs said that the off-Island locations are still going strong, and are not struggling the way the Vineyard location has. He said that if an operation were to work on the Island, he suggested one company own locations in downtown areas like Oak Bluffs and Vineyard Haven, with a third and grow operation up-Island that could supplement year-round Islanders.
Rose, the owner of Island Time, brought a proposal to town meeting in Oak Bluffs last month to allow for the creation of a marijuana dispensary in the town, but voters — questioning the need for a dispensary — rejected the petition with overwhelming opposition.
Rose, reached on Friday, would not comment when asked if he would be interested in purchasing the Fine Fettle operation.
Fine Fettle, a medical and recreational dispensary in West Tisbury — as well as the Island’s only licensed growing facility — announced that it will be closing in September. Benjamin Zachs, chief operating officer of the Connecticut-based company, has said that because of the difficulties of hosting a dispensary on an island, and with cheaper Read More