DISPENSARY
The cannabis retail business has kicked-off officially in different parts of the world. Many thanks to favorable legislation that decriminalized cannabis marketing and distribution across state lines. As medical cannabis and cannabis-derived pharmaceuticals also become popular, the business opportunities in the cannabis retail business are limitless. At a CAGR of 18%, the global legal cannabis market is projected to reach $76 billion by 2027. Cannabis dispensary owners are poised to get increased investment returns on venturing into this rapidly expanding sector of the cannabis industry. At GPS, we take you through every step of the way and make your retail business the best experience.
Create a Profitable Niche in Retail Service
Globally, the cannabis regulations are steadily creating a space for cannabis retail services. Cannabis-infused retail products are becoming increasingly popular. Have you considered tapping into this growing industry? Creating a link between cannabis producers and consumers expands your profit projections.
Beyond the promising investment returns, there is complex terrain of retails service plans and legal requirements you need to fulfill. This is where we come in. Our partnership provides your business and customers with optimal customer experience, personnel training, the right product catalog, proper inventory, and risk management.
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Retail Licensing
Venturing into the cannabis retail business involves securing the necessary license as prescribed under the State’s Cannabis Act. Regulatory agencies on cannabis retail and distribution expect all retailers to comply with stated requirements enshrined in the Cannabis Act.
A valid Cannabis License permit grants the holder the right to possess, manufacture, reconstitute, distribute retail, and sell drugs and products derived from cannabis. Depending on existing regulations, a valid license can also cover the retail of concentrates, vapes, edibles, capsules, and tinctures. Fulfilling the requirements involved in securing a retail license might be tiresome. This is where our expertise counts. We leverage our expertise and personnel network to fast-track your license application, approval, and issuing processes.
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Dispensary Design
You need the right layout for optimal customer service experience. The right layout design also directly affects the ease of doing business and customer satisfaction. The parameters involved might be virtual and complex; however, there is enough evidence linking layout design with patronage rate. State regulations might also impact dispensary layout.
Some states might require a secured check-in area, while others only require one budtender per customer. Check-in areas are especially important for medical cannabis dispensary layout. Traditional bricks and mortar storefronts or digital neon-display boards? A compacted floor plan or a spacious floor design with clear compartments? At GPS, we undertake the burdensome task of helping you craft a flexible layout with the right interior design, flow, and shelve pattern. We leave nothing to chance.
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Inventory Management
Inventory records are as important as the business itself. State laws might require updated documentation on customer demographics, sales volume, and the presentation forms of cannabis products dispensed. An extensive supply chain network also relies on updated stock level records. Records required to keep your business running smoothly night be many, from harvest volumes to storage levels and unit dispensed, the chunk of records required makes web-like technicalities that might be hard to navigate. At GPS, we help you determine the necessary inventories you need to keep and also formulate a user-friendly documentation technique.