Few industries hold more promise than retail cannabis.
From 2020 to 2025, recreational and medical cannabis dispensaries are expected to have compound annual growth rates of 19.9% and 14.2%, according to the MJDaily 2021 Marijuana Business Factbook. The report also found that 66% of cannabis retailers turned a profit.
But how can you ensure you’re not in the 34% and that your dispensary leaves an imprint on the legal marijuana scene in your state?
The legal cannabis retail space is vibrant and booming. But market saturation is a serious issue facing dispensary owners and managers.
Our latest guide, “What Can Dispensaries Do to Make a Name for Themselves in a Crowded Market?” details some very important steps dispensaries can take to rise to the crowd.
These include:
Enriching Your Cannabis Knowledge
Even veteran cannabis consumers may be taken aback by the sheer volume of products available today. See how boosting your cannabis knowledge can help retail marijuana professionals provide better, safer customer experiences.
Creating a Culture of Safety at the Dispensary
Failure to meet the safety and compliance requirements of the cannabis industry can spell ruin for even the most well-funded dispensary. We look at how creating a culture of safety and compliance is essential.
Enact Comprehensive Training and Education for Employees
Comprehensive budtender training includes reinforcing compliance requirements and boosting awareness of safety requirements and the principles of responsible cannabis use. It can also result in more proficient employees - who are more likely to become long-term employees.
Avoid Shortcuts at All Costs
It may be tempting to cut corners, but in retail cannabis, this can result in fines, loss of license, and even legal consequences. We highlight why doing things the right way is essential in the industry.
Advocate a Culture of Responsible Cannabis Use
Responsible cannabis use doesn’t mean simply making sure minors aren’t allowed to purchase at the dispensary. It also involves a more in-depth, holistic view of marijuana use and customer intent and a greater appreciation of the cannabinoid and terpene profile of cannabis products. See why more and more industry professionals are emphasizing responsible use.
The cannabis retail space is thriving - and it seems we’re just getting started. To see how you can stand out from the crowd, download your free copy of “What Can Dispensaries Do to Make a Name for Themselves in a Crowded Market?” here: