The growth of legalized cannabis has been incredible to watch, pun fully intended. Seemingly overnight, cannabis went from the #1 target of D.A.R.E. to one of the cornerstones of progressive politics. As a result, legalization has been spreading state-by-state throughout the U.S. Now, savvy business owners are pursuing the opportunity to ride the Green Wave toward their own financial success. While establishing a dispensary sounds like a ton of fun, it is still a task that needs to be carefully approached. In fact, there are several things that business owners need to be made aware of before even attempting the process.
Setting Up A Dispensary: POS Software
Legal cannabis dispensaries exist in a fascinating gray area that can be hard for most people to understand. These dispensaries may have a state-level mandate to pursue the sale of cannabis, but they are always at risk of a federal crackdown. As a result, most of these dispensaries rely on any effective dispensary POS software in order to stay on track and in the clear. POS software for a dispensary has to be carefully chosen. This software will end up handling a bulk of the jobs that need to be done around the shop. Let’s talk about what the POS software at a dispensary can do for the entire operation.
1) Track Inventory – A great POS system will be able to handle the multitude of products that make up the typical inventory of a dispensary. Not only does this software need to track the inventory for the sake of sales, it must also track the inventory for regulatory reasons. Every sale needs to be tracked and ready to report to the state in case that information is requested. Dispensaries have to adhere to rigorous standards when it comes to staying legal at the state level or else they could be subject to crazy fines.
2) Sales Reports – The cannabis industry is booming with a variety of amazing products. From edibles to oil to different strains of organic herb, there is always something new hitting the market. In order to succeed as a dispensary, business owners need to know what is selling and what isn’t selling. POS software can help in this area by releasing data reports that showcase what is selling best and where the profit margins are on different products.
3) Easy Transactions – Finally, POS software for a dispensary must be able to help to quickly facilitate transactions. Some dispensary software can be operated on mobile tablets, which makes ringing up a sale easier than ever. Other POS options will make it easy for your workers to track what they are ringing up via visual aides. Really, you just need to approach this aspect of the POS software hunt by focusing on what is important to you.
Operating a dispensary is never going to be easy, but quality POS software can make it easy. Use our guide to get you on the right track. Make sure to pay attention to local laws!