As more litigation is passed decreasing the restrictions on cannabis, the cannabusiness is rapidly becoming the fastest growing industry in the United States. Legally recreational States like Colorado and Washington, have experienced what can be best described as a “Green Rush.” An economic boom fueled by profits brought in from the promising new marijuana industry, this Green Rush has ushered in new opportunities and experiences for consumers and local communities, as well as business owners looking for a promising new venture. And in the beginning stages of this golden era of readily available cannabis and fewer legal restrictions, what could be more promising than owning and operating a successful dispensary?
You may be thinking this is the perfect time to open your own dispensary. You could be raking in the profits in no time! After all, current cannabis policies have made it much easier to start your own “green” business and everybody loves weed. Easy enough, right?
Unfortunately, not all dispensaries are created equal. Success is not guaranteed and there is a good possibility that your promising new green venture can end up a financial disaster. That is, if you don’t take certain aspects into consideration. Lucky for you, Buddy Jane has a few tips to help your dispensary. Whether you’re opening your first store or already own a shop and are looking for ways to take your business to the next level, check out the following tips!
DO YOUR HOMEWORK
The most important thing you can do before opening a dispensary is to familiarize yourself with the cannabis laws in your area. Be prepared to research everything from local and state regulations to zoning restrictions and cannabis tax codes. Equally important: make sure to document everything. Remember, these laws are not to be taken lightly. Be aware and compliant with all relevant regulations, always.
NAIL DOWN YOUR GOALS
Why are you getting into the dispensary business? For the money? Perhaps you’re looking to develop high quality products. Or maybe you’d like to make a positive impact in your local community? What are your priorities? Figure out what kind of store you want to run and keep the focus on the driving factors behind your business. While paying the bills and keeping the lights on is important, it’s necessary to keep an appreciation and a respect for the people and the plants that are the core of this industry.
BUILD A CREDIBLE IMAGE
Your dispensary’s image can make or break your business. Your community does not need another run down, sketchy looking corner shop. Your shop should be easily accessible in a visible and transparent location. Set up your shop to be well lit and spacious. And please pay attention to your patient’s comfort level. That means no more blacked out windows and random friends lounging about! Keep things clean, open and efficient.
HIRE STAFF TO HELP WITH PRODUCT DIFFERENTIATION
We are living in an era of a wide array of cannabis products. This necessitates not only a variety of strains and other forms of cannabis, but a way to help your patients differentiate between products. You’ll want to employ staff members to help with this. Preferably, people who care about cannabis, have superb customer service and are knowledgeable. A simple visit can turn into a learning experience and having the right person behind the counter may be the determining factor in whether you land a returning patient.
BE AN ACTIVE MEMBER OF THE LOCAL COMMUNITY
The mark of a next level dispensary is its relationship with the surrounding people and communities. Top dispensaries like the Cannabis Buyers Club of Berkeley have successfully established a recreational community center vibe. They offer free fruit and snacks, as well as chessboards and books to encourage people to hang out and interact with other patients. Offering regular educational and social events is another great way to connect to the community. Whatever the method, if you make active efforts to be a member of your community, not only do you benefit through marketing, but you also have a great opportunity to positively impact your community.
Running a dispensary is no simple task. It’s easy to be drowned out in the sea of available dispensaries. However, if you’re smart in your approach, keep the focus on your patients and actively contribute to your community, your dispensary is sure to stand out and reap endless benefits.
Got any tips? Perhaps you’d like to share your opinion? Let us know in the comments below!
By Alexis Monroy
See more writings by Alexis at alexisamonroy.wordpress.com
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