Choosing the Right Dispensary Technologies for Improved Business Performance

Business Performance

If you currently run a dispensary or looking to have one, there is more to being a budtender than you can imagine. In addition to staying compliant as you see to every customers’ needs, you want to ensure that you’re not left behind by adopting the best practices in the cannabis retail industry. 

For instance, at an elementary level, to satisfy customer needs within legal limits, most dispensaries now incorporate an excellent inventory management system, reliable dispensary security system, stable Wi-Fi network, a website, and other technologies that make dispensing marijuana easy. This also ensures that your customers keep coming back. Also, if you have the license to serve both medical marijuana patients and recreational customers, there are critical factors you need to consider.

Consider partnering with a reliable security system provider

Thankfully, there are several good options to choose from. Because of the unique nature of the cannabis dispensary business, it is crucial that you eliminate any security concerns that may affect your business. You can discuss with a local cannabis security systems provider to learn which security options are best for your dispensary. 

Unlike regular security services, dispensary security services providers understand the cannabis business, as well as possible risks that you might face and how best to help you mitigate those risks. When looking to beef up security in your business premises, consider working with a top cannabis security services provider for marijuana dispensaries. These companies specialize in security services, but most specifically for cannabis dispensaries.

Invest in a smart point-of-sale (POS) system

There is so much that a point-of-sale system can do for your dispensary. From inventory management to verifying customers’ ID and age, to facilitating your company’s management and growth, it generally helps give your business a facelift as far as adapting technology goes. With a point-of-sale system, you can track all your transactions and keep your sales and customers’ data safe and secure for reporting. 

Have a robust inventory management system

Inventory management is key to the success of every dispensary. Ideally, a smart POS system should help you get this down. Inventory management essentially makes it easy for you to audit your inventory in real-time. At the end of the day, every dispensary wants to maximize profits and minimize losses and liabilities while ensuring compliance with state and local authorities. A smart inventory management software not only helps you create this but also offers you an innovative strategy to manage your costs through data.

You need a website

Right now, one of the best ways to reach out to your prospect and bring in more customers is by positioning your business to allow customers to find you. A website is an excellent way to achieve this. Having an e-commerce website will enable customers in remote locations to order online and deliver their purchases wherever they are. It is also a great way to showcase your menus. 

A website is a must if you’re looking to expand your business soon, and the best time to start is now. 

Recreational vs. medical cannabis: what your dispensary should do

Dispensing cannabis for recreational customers is quite different from doing the same for medical marijuana patients. If you have the license to dispense for both, then you need to stay abreast of current dispensing best practices to avoid mistakes and sanctions. Recreational vs. medical is a hot topic, and here are some pointers to help you stay on track:

  • Only patients 18 years and older can purchase medical marijuana. They must also come with their medical recommendation or state medical card. While they can get a medical recommendation from a doctor, a state medical card can only be obtained through the state’s public health department. An advanced dispensary point of sale software can help you ensure compliance here. 
  • Another difference between medical marijuana patients and recreational customers is the amount of cannabis sales tax that each category pays. For example, medical marijuana patients with a state-approved medical marijuana card do not pay either state or local sales taxes on all cannabis products purchased. On the other hand, patients with only a doctor’s medical recommendation will have to pay the state sales tax only. 
  • Unlike recreational customers, medical marijuana patients have a purchase limit. In California, for example, recreational cannabis customers can buy up to 28.5g of flower, 8 grams of concentrate, and six immature plants within 24 hours. Medical marijuana patients can purchase more with a limit capped at 8 ounces of flower.

Final Words

Marijuana dispensaries and bartenders alike may find it overwhelming setting up a compliant business and incorporating the right technologies to make them grow. Consider speaking with an expert to make the process less stressful and easier.