A Marijuana Dispensary is a legally licensed location where adults can purchase cannabis and marijuana-based products. This includes everything from flower and joints to edibles and concentrates.
Legal marijuana entrepreneurs face higher costs and stricter rules than typical retail businesses and cannot write off their expenses because they are federally illegal. We examine their locations in relation to neighborhood characteristics and local marijuana policies in Washington state from 2014 to 2016.
Product Selection
The best dispensaries offer a diverse selection of marijuana products to suit your personal needs. These include marijuana flower, cannabis edibles, and marijuana topicals. The budtenders at these locations are also knowledgeable about each product and can help you make informed choices based on your preferences and medical needs.
Marijuana flower is the most common cannabis product available at dispensaries. It consists of leafy and compact buds that can be smoked in pipes or with vaporizers. Flower has a variety of potency levels, from premium to smalls and shake, with each offering a unique effect.
Sativa cannabis products elicit energizing and uplifting head highs that can relieve stress, increase creativity, and focus the mind. They are typically consumed during the day and can be found in a range of edible forms, including gummies, hard candies, and beverages. Cannabis tinctures provide long-lasting effects that can be taken orally. They contain concentrated THC in a liquid base.
Budtenders
The staff at a dispensary are the face of the business and play an essential role in structuring the customer experience and driving sales. Budtenders are trained to answer questions about the cannabis products available, explain the science behind them, and provide recommendations based on customer preferences.
In addition to their knowledge of cannabis and cannabis products, a good budtender knows how to make customers feel comfortable in a new environment. This includes knowing the basics of state laws and regulations, and staying up-to-date on the latest research and industry trends.
It’s also important for a budtender to have strong sales skills and be able to upsell or cross-sell products to customers. For example, if someone is purchasing a product to help them sleep better, suggesting an edible could boost overall sales. This is a great way to set yourself apart from other budtenders and demonstrate your ability to succeed in this growing industry.
Payment Options
Aside from cash, there are multiple ways for consumers to pay at a cannabis store. Despite the fact that many traditional banks refuse to process credit card payments for marijuana stores, dispensaries have found workarounds that enable them to accept debit cards and ACH transfers.
The problem is that most of these methods are expensive, and they may subject the business to potential compliance issues. The biggest issue is the merchant category code (MCC), which defines a transaction’s type. Using a MCC that doesn’t explicitly denote marijuana sales could lead to compliance issues with major card networks and result in hefty transaction fees.
Choosing an ACH solution that’s built for the cannabis industry can mitigate this risk by ensuring that funds are directly transferred from consumer to dispensary accounts. This ensures that transactions are compliant with both state and federal laws. Additionally, a system like this can also provide for quicker transaction processing and better data security, all while being fully integrated with POS systems for simple transactions and efficient tracking of inventory and customer data.
Security
Considering the significant volume of cash that cannabis dispensaries handle, strong security measures and procedures are essential to protect property, inventory, and finances. These security solutions deter crime and provide a safe environment for employees and customers.
Robberies at marijuana dispensaries often occur during vulnerable moments, such as opening or closing hours or during curbside pickups and deliveries. Setting clear protocols for these moments, vetting prospective security guards thoroughly, and installing cameras in high-risk areas will minimize these threats.
In addition to implementing these systems, cannabis businesses must abide by rigorous safety and labeling requirements. Packaging must be child-resistant and opaque, clearly display product information, and be tested for potency and contaminants before sale.
To ensure accurate and timely testing, cannabis dispensaries must partner with tech providers who specialize in the industry and can offer tailored IT support that’s cost-effective and scalable. This helps maintain efficient operations and compliance with regulatory agencies. It also ensures that data is stored securely, and systems are updated regularly to address new security threats.