Whether you’re a new dispensary or someone who has been providing marijuana products for a while now, there are some best practices that you may need to know when operating your business. We know that not every single company runs exactly the same, and what makes one successful does not mean it will work for everyone. But that is what is unique about the tips and best practices we will discuss today. Most of them can be taken and applied directly to how your dispensary operates.
These may be best practices that you are already doing, or are attempting to do, but we can hopefully provide some insight and a different way of thinking. After working with countless dispensaries and understanding their business models, these are some of the things that the most successful dispensaries are doing.
Helpful Hints to Running a Dispensary
Install an ATM Machine
Cannabis is still considered to be a Schedule I drug according to the Federal Government, so the cannabis industry continues to struggle with different bank laws. To make it easier for your customers that come to your dispensary, offer an ATM where they can get cash out.
If new customers aren’t as familiar with the rules and they don’t bring cash with them, they may find themselves in the unfortunate position of not being able to pay or having to leave and find an ATM elsewhere. When people know that they can take out money right as they walk into your facility, they may be more likely to purchase at your dispensary.
Manage Your Cannabis Inventory
One of the toughest things dispensaries have to deal with is managing their cannabis inventory. If you have too much product at your facility, it takes up valuable space in your storage, and could even end up costing you money. Having too much inventory also increases the risk of providing your customers with outdated products if you aren’t selling it fast enough.
On the other hand, having too little of inventory can cause you to run out of specific products and result in unhappy customers. If you need to express ship in product for quick delivery, it will end up costing you more money and your margins won’t be as high on the product.
While we don’t have the exact answer to solve this problem, but one of the best things dispensaries can do is monitor sales of each individual product. As a dispensary, you should know what your most popular products are, as well as the products that maybe don’t fly off the shelf as quick. Understanding the popularity of your products will help you when placing your orders to the distributor.
Learn From Your Customers
This may be one of the most important things that every company should do. Your customers are the ones who experience what your dispensary has to offer. While many people have their own thoughts and ideas, if your facility is providing a positive experience, then people will generally have good things to say.
If most people are having a bad experience, though, they will provide that feedback in their reviews too. Nobody wants to hear bad news or that they aren’t doing a great job, but as a company, you need to have thick skin, and instead of getting upset or ignoring it, you should be finding a way to solve the issue. If people see that you are taking their feedback seriously, it may provide some respect from your customers and even people who had a bad experience may be willing to give you another try.
Make sure that you are looking at your Google reviews, as well as any other sites that provide customers the chance to review your business. Even taking the time to respond to reviews is something people will appreciate!
Hire the Right Staff
Make sure you are hiring people who have the same goal in mind for your dispensary and match the energy level that you want your organization to have. People who come to your dispensary will most likely remember the customer service your employees provide. Even if a customer loves everything about your dispensary, it can all be ruined if an employee is rude, unpleasant, or disrespectful. When you hire people that are committed to the business and you treat them right, you know your dispensary will be in good hands.
We’ve talked about a few different ways we think you can improve your dispensary, but its up to you to take action. Make sure you are doing everything you can to run a successful business, and if you need help financially, Canna Business Resources is here to provide insight, business loans, and advice.
