Efforts to legalize marijuana continue: California and Washington allow its purchase for recreational and non-recreational purposes, while the sale of medicinal cannabis by prescription is permissible in 23 states. With this trend has come an increase in the number of stores that sell marijuana in a brick-and-mortar environment. In order to maximize their potential, these stores need to take advantage of three essential features that come with marijuana POS systems:
1. Accurate inventory control – Accurate inventory control is a must-have for marijuana POS systems in part because the product presents a temptation to employees and customers alike. The ability to meticulously track the quantity of each strain of marijuana you have in stock reduces or greatly eliminates shrinkage; employees’ awareness of your ability to determine that inventory is missing should keep them on the straight and narrow.
Whether for medicinal or recreational use, federal and state agencies keep a close eye on stores that sell marijuana to ensure that they are not merely “fronts” for drug dealers. All stores that sell cannabis are required by law to report their inventory, sources, and costs. Whether you grow your own marijuana or purchase it from an authorized dealer, you must have a precise account of your available inventory and the price you paid to acquire or cultivate it. A list of suppliers—which can easily be maintained on a marijuana POS—must also remain available to authorities.
2. The ability to track best (and worst) selling products – As mentioned above, marijuana—or at least, medical marijuana—is not a “generic” product. Rather, medicinal marijuana comes in several hundred different grades and strains—and inevitably, some will prove to be more popular than others. What’s more, cannabis has a finite shelf life and is not considered to be potent after a certain (varying) point.
Choosing a marijuana POS system that enables you to keep a close eye on which grades and strains of marijuana are most often prescribed by your customers’ physicians—and which are in less frequent demand—means you can generate and adjust orders in line with demand and sales history. This helps minimize waste and it also ensures that you have sufficient quantities of the right marijuana on hand when customers need it.
3. Patient management and verification – Stores that sell medicinal marijuana are just like pharmacies in that they dispense prescription drugs. As is the case for your local pharmacy and every other pharmacy in the U.S., your store must be able to maintain detailed files on each customer and his or her prescription history. To remain compliant with state and federal laws, you must also have a means of ensuring the validity of each customer’s prescription and of the state-issued identification card carried by every individual for whom medicinal cannabis has been prescribed. A marijuana POS system should fit all of these requirements; if it does not, you risk breaking the law by dispensing marijuana to the wrong person.
Moreover, with a marijuana POS system that features patient management and verification capabilities, it’s easy to locate and provide to federal authorities any reports pertaining to the sale of cannabis in your establishment. Selling marijuana to customers for the purpose of enjoyment and/or to better manage their ailments will likely become an even more common practice among retailers as more states jump on the legalization bandwagon. Deploying a viable marijuana POS system with the three features above will put you firmly on the path toward capitalizing on this trend.
