New dispensary owners often find themselves juggling a baffling amount of different considerations when trying to grow their business. Compliance issues, supply infrastructure, marketing, and managing inventory are just a few of the things they have to deal with on a daily basis. One thing they shouldn’t have to struggle with is finding a dispensary POS system that best fits their needs.
Today we’re going to look at some of the advantages dispensary owners can gain by utilizing a POS system designed from the ground up to specifically cater to the day-to-day business tasks dispensaries perform. Specifically, a cannabis-specific POS can help you to:
Keep Legally Compliant – One of the biggest administrative burdens dispensaries face is ensuring that they are fully legally compliant with all applicable statues at all times. A POS system designed specifically for dispensaries can help you track compliance issues, provide your staff security checklists that need to be monitored on an ongoing basis, and ensure you pass your inspections with flying colors.
Easily Manage Your Inventory – Another major advantage of dispensary POS systems are that they enable you to significantly streamline the process of inventory management. You’ll be able to quickly place orders for new product when needed, adapt to changing market preferences on the fly, and free up capital that would otherwise be tied up in maintaining higher inventory levels to better suit current needs.
Provide Close to 100% System Uptime – Just last month, the widely used cannabis software platform created by MJ Freeway crashed, and remained down for the better part of a week. Over 1,000 retailers in 23 states were left frantically trying to hold their businesses together; a number of dispensaries and other businesses were forced to close as a result. Implementing an industry-specific dispensary POS system will allow you to keep your system up almost 100% of the time, and also enables you to utilize the offline sales mode, which enables you to continue processing sales even if the system does go down for some unforeseen reason.
Provide Strategic Insights – A POS system designed from the ground up to accommodate a marijuana dispensary also places an incredible amount of information right at the fingertips of an owner. They can see which of their products and promotions are doing well, as well as which areas are underperforming. Staffing issues can often be noticed and addressed before they become a problem. Inventory, product sales, and every other piece of relevant data imaginable can be tracked and followed, helping owners to make the smart choices when it comes to the strategic guidance of their businesses.
Deliver a Superior Customer Experience – Best of all, the incorporation of a cannabis industry-specific POS into your operations can actually help you improve your bottom line, by delivering a superior customer experience to your clients. Users can shop at home, offline, or on your floor space, using a system that is custom-tailored to help budtenders provide product recommendations and build a personal relationship and level of trust between your dispensary and your customers.
As you can see, there are definitely significant, tangible benefits for organizations that make the smart choice of purchasing a dispensary POS system for their operations that was built from the ground up to specifically cater to the cannabis industry. This type of system helps you improve the day-to-day functioning of your business, covering everything from assistance with legal compliance issues, to inventory management, to powerful analytics, all while helping you to better serve your customers, and ultimately - sell more product.