Cannabis dispensaries have revolutionized the industry and have become the main interest of cannabis entrepreneurs.
The cannabis industry continues to grow and there is increasing interest from entrepreneurs to create new businesses to join the success of previous pioneers. One of the ways to enter the industry is through a dispensary, which operates by marketing and distributing the plant or derived products, in some cases, they also offer spaces for the safe consumption of cannabis.
However, there are special considerations to take into account before opening a cannabis dispensary.
Here are some recommendations:
Design your business/brand concept
The first step is to outline and plan a structure, taking into account the objectives (including audience and products). For a dispensary, it is important to establish whether it is aimed at medicinal or adult use, what type of product you want to sell (plant, oils, edibles, vaporizing solutions, among others), internal design, location, and of course, the name and logo that most accurately represents the business.
Comply with legal registrations and regulations
An essential step for the business design is to be familiar with the regulation under which the dispensary is planned to be established, as this represents opportunities and/or limitations to the concept. In addition, complying with government-required registrations and reporting is necessary to operate a dispensary appropriately.
Associating with the right distributor
An indispensable part of this industry is partnerships, in this case, with cannabis distributors that can supply your dispensary's inventory. When choosing a distributor, you should consider their time in the market, quality and pricing. Finding the best option is crucial for a dispensary and you must take into account that it can be inside or outside your region, depending on the regulation.
Accessibility and convenience
Convenience and access can be a deal breaker for the customer. This should include parking space, a wide range of products, and a structure that fits the concept. You can integrate methods that allow your products to reach more users such as virtual tools or online applications that users can access and place personalized orders from the comfort of their home; and delivery service is also of great value for those patients who are unable to leave the home or work.
Educate and train your staff
The key in this industry is education. To operate a cannabis business, it is necessary to understand the plant, its benefits and properties, and its cultivation and extraction process. The staff in charge of the dispensary must handle accurate information about the plant and the products they offer to clarify doubts, questions and concerns of the customers. Knowing your product is a key step to build trust and commitment to your brand, and thus, achieve success with your cannabis dispensary.
If you are interested in entering the medical cannabis industry in the state of Texas, this is your opportunity! The Regulatory Services Division (RSD) of the Texas Department of Public Safety (DPS) is accepting applications for dispensary licenses under the Compassionate Use Program until April 28.
Attend the Pharmacology University’s seminar on April 8 and learn about all the details of the application process from experts with more than 15 years of experience.
For more information, visit: www.pharmacologyuniversity.com/austin-seminar