Dispensary growth and Compliance in Oklahoma
With several US states amending policies in favor of marijuana, the cannabis business is booming. Rather than tearing your effort out by running your dispensary manually, you need to invest in a good Point of Sale (POS) system like ServiceGanja POS software. With the existing regulations, compliance, and growth laws regarding the cannabis industry, there is more need for a POS system that addresses common dispensary challenges like compliance and tracking of cannabis sales.
In this article, we outline a few things to look for in a cannabis dispensary management software that will help in the business's compliance and growth.
Oklahoma Laws on Dispensary Compliance and Growth
Have you been wondering how to run a compliant cannabis Dispensary in Oklahoma? The industry might be booming, but your business to grow a successful dispensary will take more than getting customers in your door. If you plan to start or are already running a dispensary, you need to understand its compliance laws.
- Certificate of Compliance
- Application Requirements
- Monthly Reporting
- Comply with Daily Purchase Limits
- Remit Taxes
- Distance from Schools
No business starts without some form of paperwork, and a cannabis dispensary is no different. According to a law effected on September 1, 2019, commercial companies in the cannabis industry must process this certificate before opening their doors to customers. The certificate shows that your business is compliant with all ordinances in Oklahoma. This should be the first thing you take care of, so you are on the law’s right side.
An applicant for commercial licenses must be 25 years or older and a resident of Oklahoma. The owners must also provide a background check of nonviolent felony convictions for the last two years and any other felony convictions in the previous five years; otherwise, the owner will be disqualified for non-compliance.
Sale tracking is essential in any legal cannabis business. Oklahoma laws require all cannabis dispensaries to utilize an inventory management system and generate monthly reports. This report includes:
- Weight of cannabis purchased at wholesale and mass sold to the patients
- Accounting for any waste or destroyed cannabis
- Total sales in dollars
- The tax collected and tax due in dollars
To make the inventory management and reporting seamless, find your business a technology partner that understands the day to day business needs. ServiceGanja POS, and all in one system, will help you track transactions and inventory in real-time and generate monthly reports within seconds.
Cannabis dispensaries in Oklahoma cannot exceed three ounces of usable cannabis, one ounce of concentrate, and 72 ounces of edible cannabis in a single day. A good POS software will automate this process for you and your staff. The ServiceGanja POS will alert your team when the daily limit purchase is reached hence protecting the business from losing a license due to non-compliance.
Just like any other business, dispensaries must pay their taxes to avoid losing their licenses. The business owner must calculate and report the remitted fees every month. To make this work more comfortable, acquire a sound POS system to calculate your tax efficiently and error-free.
The cannabis dispensary compliance law prohibits the dispensaries from operating within the 1000 feet of private and public schools. Cannabis Dispensaries must prove their location and meet this requirement at the application and renewal process of their compliance certificate.
Ways in Which our Dispensary Management Software Increases Efficiency
The ServiceGanja all in one Cannabis retail platform offers a wide range of services that will increase your dispensary business’ efficiency, including:
- Point of Sale (POS)
- Inventory Management
- Purchase Order Management
- Employee Management
- Online Ordering
- Loyalty Program
How to Choose the Dispensary Management Software
The best dispensary management system should be able to meet all the needs of your business under one platform. Switching from one platform to the other may complicate things resulting in inaccurate information. The all-in-one ServiceGanja software delivers seamless retail experiences that unify your in-store and online sales, accept payments, track inventory, manage your staff, and allow for online ordering of the products.
The Do's and Don’ts of a Dispensary
Whether you are stepping into a dispensary for the first time or a frequent customer, purchasing cannabis has never been safer, more comfortable, and more convenient than before. Here is a simple guideline of Dos and Don’ts to having an optimal dispensary experience.
- Do Come Prepared
- Do Plan Ahead
- Do Ask Questions
- Don’t Purchase More Than You Should Have
- Don't Bring Pets or Friends Who are Not Patients.
If you are shopping for recreational purposes, ensure you have your valid identity card at hand. I f you are shopping for medical purposes, you will need an accurate up to date paperwork that indicates your dosage. For first-timers, there is usually onboarding paperwork to complete.
Most dispensaries have their menu on their online website. Take time to think of what you are looking for and familiarize yourself with the products. I f the dispensary allows for online ordering, you can do so, as this will keep from feeling overwhelmed, while at the dispensary.
Dispensary budtenders are there to help you. If you have been using weed since the '60s or just starting, the cannabis world changes fast. Whatever you think you know might have changed, so feel free to ask for the right dosage.
It may feel exciting to walk into a dispensary and buy so many products. However, dispensary laws have set purchasing limits. Familiarize yourself with the rules, so you do not put yourself or the dispensary in a compromising position.
Only official medical cannabis recommendation holders with IDs are allowed to enter a dispensary. If you plan to come along with anyone to a recreational cannabis dispensary, make sure they are at least 21 years. Otherwise, leave your puppy at home.
The strict state laws and tax requirements alone can make your step into the cannabis dispensary business a living nightmare. Without a reliable POS software, you will find it challenging to run an efficient and profitable dispensary. It also a mistake to rely on a standard POS system as it may not fulfill the unique requirements associated with the cannabis sector. With our dedicated Cannabis POS system, you will find it much easier to keep your records accurate and meet state compliance laws.