Deciding to open a medical marijuana dispensary will lead to a multitude of other decisions that all play a factor in the success of your business. Compliance reporting, marketing, and tracking inventory are essential to any growing cannabis business. Possibly the most important decision a business owner must make is the type of dispensary POS system to use.
In this article we'll cover why it is critical to use an industry specific point-of-sale software that can handle the day-to-day operations of any dispensary.
Keep Track of Inventory
Streamlining your dispensary inventory will alleviate a lot of the man hours spent trying to keep track of every gram of every strain. Placing orders, updating menus, and transferring stock from safe to shelf has never been so easy. Dispensary owners can make quick decisions on the fly, without even being at the dispensary.
A dispensary POS system that includes integrated scales, automated menu updates, and real-time stock reports will make for smooth operation. Having the ability to quickly adjust to consumer preferences can save an owner on over-investing in product that might not sell as well.
Avoid Costly Down Time
Using a dispensary POS system that is designed to function even in the midst of dire circumstances is vital to keeping your doors open. Point-of-sale solutions providers learned a valuable lesson during the recent MJ Freeway system crash. Many dispensaries were forced to close their doors temporarily and some permanently.
A high quality dispensary POS system will include an offline mode feature that allows operations to continue during internet outages, and system crashes. Dispensaries can feel reassured that they'll never have to close their doors due to down time.
Inform Marketing with Analytics
Creating marketing campaigns based on dispensary analytics is the smartest way to see results in foot traffic. Any dispensary POS system worth it's salt will generate detailed insight reports that can help inform the marketing strategy.
Knowing what products sell well to certain demographics can give a cannabis business the knowledge of who to target with their marketing efforts. Also analyzing sales by staff can help managers and operators identify budtenders who are underperforming or who need more training.
State Compliance Reporting
The biggest burden for a marijuana dispensary is maintaining state compliance and proper reporting. This process can be daunting for a newly launched business so employing a dispensary POS system that automates reporting is a game changer.
This is why using a industry specific POS system is so important. Purchase limit notifications, expense and sales reports, and security checklists will ensure your dispensary meets and exceeds compliance regulations and avoids a costly closure.
IndicaOnline's all-in-one dispensary POS system is designed to meet the needs of every facet of the cannabis industry. If your dispensary is looking for a software solutions to help streamline operations, sign-up for a free demo to learn more.