As a cannabis retail owner, remaining compliant with state and local regulations is always top of mind. And with good reason—being found out of compliance can compromise your entire business and your livelihood.
One major aspect of compliance that retailers need to keep a close eye on is cannabis transaction limits. Each state has differing daily transaction limits put in place that can vary depending on the type of retail license your store operates under as well as the customer type.
Take Oregon for example. Medical patients or their caregivers may purchase up to 24 ounces of cannabis flower in one day; recreational consumers, however, can only purchase up to one ounce of flower per day.
To further complicate matters, many states are drawing up cannabis equivalency guidelines that regulate how various forms of cannabis and THC-infused products compare for the purpose of purchase limits.
For example, in Colorado a recreational customer may purchase up to one ounce—or 28 grams—of flower per transaction. But what if the customer wants to buy a mix of flower, extract, and infused products?
In October 2016, the state implemented a new equivalency law. This law says that 8 grams of concentrate is equal to one ounce of flower, which is also equivalent to 800 milligrams of infused products like edibles and tinctures. Colorado customers may purchase multiple varieties of products in one transaction, so long as the total amount of cannabis—or its equivalent form—doesn’t exceed 28 total grams.
Conversion Accuracy Is Critical
It’s imperative that your employees correctly calculate cannabis equivalencies for customers purchasing multiple forms of product. A simple mistake at the register could spell trouble for you and your business if you’re found out of compliance with legal purchase limits.
Without some kind of automation or software solution in place, tallying up and correctly converting cannabis products can quickly become a nightmare for budtenders. Let’s face it—fumbling through a conversion chart to make manual calculations while your customers wait at checkout is not the most efficient solution, and it significantly increases your risk of exceeding a transaction limit.
Automated Conversion at Your Point-of-Sale
The simplest solution for ensuring conversion accuracy and compliant transactions is to implement point-of-sale (POS) software that is specially designed for cannabis retail. A cannabis-specific POS system can automatically calculate product equivalencies and alert your budtenders if a transaction limit has been met or exceeded.
Simplifying the checkout process can also enhance your customer experience. When your budtenders aren’t distracted by calculating equivalencies during complex sales involving multiple forms of product, they are able to focus more on engaging your clients and helping them find exactly what they need.