Dispensaries are stores that specialize in selling cannabis-related products like flowers, vape pens, concentrates and edibles to consumers. Dispensaries act as the consumer-facing side of the legal marijuana industry and function similarly to any retail location; additionally they serve as hubs for research, education and advocacy activities.
Cannabis is an intricately regulated product and businesses must implement systems to ensure compliance with state regulations in regards to hiring, training, logging incidents, security and inventory management. Dispensary owners should also anticipate increased security costs given that marijuana remains cash based and break-ins may occur often.
Establishing a dispensary requires a significant financial investment, but there are ways to reduce startup costs and get the business up and running faster. One such solution is investing in a POS system tailored specifically for cannabis sales which will help decrease sales times and enhance your ability to run it successfully. Doing this will have a tremendous impact on both your bottom line and ability to manage it effectively.
As a customer of a dispensary, you should expect to be met by trained and ready staff ready to answer all of your queries – this staff are commonly known as budtenders (consultants), who will help navigate the menu and select products appropriate to your needs. Achieve an exceptional experience from them is key and should have been educated in state regulations and be knowledgeable enough to address all questions regarding product choices or regulations.
Before purchasing any product, the receptionist or budtender will ask to see your ID and verify your age. Medical patients may need a note from their physician verifying their condition while recreational customers will also require ID as well as signing an acknowledgement waiver acknowledging risks of use and addiction.
When you are ready to purchase, a budtender will guide you through the process and show you which items are in stock and their costs, including tax costs which vary by state and jurisdiction. A medical card may provide savings when it comes to taxes; many shops also provide deals for first-timers or regular customers.
As a dispensary owner, it is your duty to draft employee management SOPs that cover every aspect of employee work from hiring and onboarding through performance evaluation and promotion. In addition, you should maintain a safe work environment while adhering to all state laws and guidelines. SOPs from scratch will help ensure consistency across your cannabis business, given a lack of data in this industry. Furthermore, investing in appropriate technology such as software, cash registers and POS systems may prove costly but essential to your success as a dispensary owner – see our guide, How to Open a Dispensary: Startup Costs & Equipment for more details about minimum requirements needed when opening one up.