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 great system like ServiceGanja 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.
This article outlines a few things to look for in a cannabis dispensary management software that will help in the business' 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
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 right side of the law.
- Application Requirements
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.
- Monthly Reporting
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, an all in one system, will help you track transactions and inventory in real-time and generate monthly reports within seconds.
- Comply with Daily Purchase Limits
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 will alert your team when the daily limit purchase is reached hence protecting the business from losing a license due to non-compliance.
- Remit Taxes
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.
- Distance from Schools
The cannabis dispensary compliance law prohibits the dispensaries from operating within 1000 feet of private and public schools. 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
Our all in one Cannabis technology platform offers a wide range of services that are meant to increase the efficiency of your dispensary business, including:
- Point of Sale (POS)
- Inventory Management
- Purchase Order Management
- Employee Management
- Loyalty Program
- Online Ordering
How to Choose the Dispensary Management Software
The best dispensary management system should meet all the needs of your business under one platform. Switching from one platform to the other may complicate things resulting in inaccurate information. This is why our all-in-one management system delivers seamless retail experiences that unifies your in-store and online sales, accepts payments, tracks inventory, manages your staff, and allows for online ordering.
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
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 accurate up to date paperwork that indicates your dosage. For first-timers, there is usually onboarding paperwork to be done.
- Do Plan Ahead
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 you from feeling overwhelmed while at the dispensary.
- Do Ask Questions
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.
- Don't Purchase More Than You Should Have
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.
- Don't Bring Pets or Friends Who are Not Patients.
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 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.