Choosing the right dispensary is an essential decision for medical marijuana patients. A good dispensary will offer various options, knowledgeable staff, and quality standards.
Pricing is also important. Shops should have competitive prices and a mix of lower-priced and higher-priced options for each product category. Also, they should have loss leaders that draw in customers.
Location
Whether you want to run a medical or recreational dispensary, the location is one of the most significant factors for success. Consider population, tourism, zoning, traffic patterns, parking, accessibility, demographics, etc. It is also essential to have a solid business plan when considering your dispensary’s location. It will help you manage your dispensary more effectively and with a plan rather than on the fly.
Licensed by the state, most dispensaries prioritize compliance and create employee management SOPs to ensure employees understand and follow marijuana laws and guidelines. Many states require purchase limits, for example. Budtenders are often the most valuable members of the dispensary team, and they must have a love of cannabis and people to succeed in this role.
Maine dispensary typically offer customers a variety of deals and discounts. These can be for products, a percentage off your entire order, or even free items with purchase. Some stores require customers to register or create an account, which is necessary for tracking purchases and marketing purposes. In such cases, ask if your information can be deleted after purchasing.
Customer Service
Customer service is a company’s assistance and advice to people who buy its products or services. Dispensaries are no different and must provide exceptional customer service to create repeat customers.
Providing excellent customer service starts with well-trained staff. Educating staff on all your products helps them answer questions promptly and guide patients towards products that match their needs. It requires understanding how a product works, its terpene profile, and how it affects various symptoms and consumption methods.
Additionally, offering educational materials like product information booklets and pamphlets can go a long way. Many cannabis brands now provide these and will supply them upon request.
Dispensaries should also consider providing a loyalty rewards program that can cultivate lifelong customers. It costs five times more to attract a new customer than to retain one, so focusing on customer retention is crucial for cannabis retailers. To further increase customer retention, a dispensary must offer quality products. It means sourcing vendors who produce high-quality cannabis and ensuring their products are lab-tested. It is important because it reassures consumers that they buy a premium product.
Products
A dispensary’s products are a huge selling point. If you can offer the best-selling medical and recreational cannabis products, you’ll attract a wider audience of consumers.
Concentrates such as wax, oils, and alcohol-based tinctures are an increasingly popular way to enjoy cannabis. Look for small local extractors to build relationships with and ensure your dispensary has a full menu of potent concentrates featuring different terpene profiles.
Dispensaries are allowed to sell other marijuana-related merchandise, such as reusable bags, stationery, and gifts, provided that the merchandise does not depict or reference cannabis and does not contain any text or symbols that appeal to individuals under twenty-one years of age. In addition, exterior signage is restricted in many municipalities.
Another consideration when determining what to stock in your dispensary is inventory management. You want to prioritize compliance, requiring a system that makes auditing and tracking your inventory easy. You also need a system that standardizes product naming conventions for easy data management. For example, if you use an electronic dispensary, you’ll want to ensure your system enables users to quickly locate and select the product they need with just one click.
Value
A dispensary must provide a high level of value to its customers. It includes a clean, welcoming store environment and knowledgeable staff (often called budtenders, consultants, or guides). It also means providing convenient ways to buy cannabis products, like pick-up, drive-up, delivery, or ordering online.
One way to measure value is by tracking customer retention metrics, such as CLV-CAC ratios. This metric tells you whether your current marketing efforts are practical and can help you identify new growth opportunities.
Another essential metric is gross profit margin, which measures how much your dispensary makes after subtracting the cost of goods sold and operating expenses from revenue. It is necessary to know your margins to make strategic decisions about your business’s future.
Experience
As a shopper, your first dispensary visit can be nerve-wracking. You might need help with what to do or what products you want to try. But that’s why dispensaries employ budtenders – the cannabis experts behind the counter who can answer any questions you have.
Beyond just knowing the difference between terpenes and cannabinoids, budtenders are knowledgeable about the various effects of different strains of cannabis. They can help you find the perfect cannabis product based on your desired experience.
A good budtender will take the time to get to know their customers. They’ll be able to provide recommendations to create a seamless cannabis experience for every visitor.
Developing an excellent dispensary customer experience takes more than just merchandising and hiring the right people. It also requires a solid understanding of the fundamental business operations of a retail store, including sales, inventory, and management. Earning a graduate certificate in Cannabis Control is the ideal credential for dispensary managers to demonstrate their knowledge of cannabis regulations and industry best practices. It also equips them with the skills necessary to lead a team in tune with the industry’s nuances.
