The cannabis industry has been heating up with more people eager to jump into business in this multi-billion dollar sector. Changing societal attitudes about marijuana and all of the new information about its many health benefits are responsible for much of the industry’s massive growth over the past few years. But just because marijuana is trendy and cool doesn’t mean that it’s an easy business to manage or that it will automatically be successful. It’s a competitive field but there are several strategic practices you can adopt to scale your cannabis store into a thriving, profitable business. We’ve had the honor and pleasure of working with many cannabis sellers and these are three key takeaways we recommend to any marijuana retailer.
Get the right POS
As more states legalize marijuana, more POS companies are scrambling to cater to dispensaries. It’s in your best interest to work with a company experienced in working with cannabis retailers. Anthea is a retail management system designed exclusively for cannabis dispensaries and is the POS we recommend for business owners in the marijuana industry. The beauty of using Anthea instead of another supplier is that Anthea understands the intricacies of the cannabis business. Anthea can help you increase sales, lower operating expenses, and provide a better experience for your customers.
Accurately track growth and cultivation
The growing and cultivation portion of a cannabis business has been one of the harder aspects to manage. Thankfully NexTec partnered with leading experts in the marijuana industry to develop CannaBusiness ERP, a software to help you track operations from seed to sale. Traditional accounting systems simply don’t understand the nuances of the cannabis industry. CannaBusiness ERP encompasses traditional manufacturing resource planning activities to help you know when to order materials and how much you’ll need. Additionally, it integrates all of the stages of the growing and production processes including planting, cloning, harvesting, drying, packaging, and more.
Secure your store
Running a business that handles large volumes of cash means that it’s critical to have ironclad security policies in place. Hire experienced security guards to keep your team, customers, inventory, and cash safe at all times. They’ll be able to know the signs of any suspicious activity to ensure everyone’s safety and well-being. You also should invest in top-tier security cameras both inside and outside of the store. There need to be enough cameras so that there aren’t any blind spots and you also need to make sure the cameras have enough storage with off-site accessibility so you can review old security footage as needed and on the go. Lastly, it might sound obvious but it’s worth mentioning: keep on-site cash storage to a minimum and make sure it’s stored securely. Unfortunately keeping large amounts of money in your store makes you vulnerable to robbers which is something you must be aware of when you’re in a cash-heavy business. The little cash you do keep on-site should be kept in a time-triggered safe because they add an additional layer of security.
If you’re interested in learning more about Anthea and CannaBusiness ERP, please feel free to reach out. We’re more than happy to show you a demo so you can see these cutting-edge technologies in action.