What once seemed like a pipe dream (pun intended) has now become reality: marijuana, in both medical and recreational uses, has been legalized in many states across the United States. This has contributed to the quick rise of the marijuana industry, a cash cow in many economies who are seeing numerous dispensaries and other medical cannabis adjacent businesses pop up all over town. From weed bakeries to weed restaurants and more, business minded people all over the United States are looking to capitalize on the big business that is the marijuana industry.
That being said, not all businesses are created equal and marijuana businesses can fall prey to the same statistics that other businesses do: many will fail within the first year.
So how would a business owner combat this and ensure a successful business? Here are the top three things that are important for a potential dispensary owner to think about.
- Cleanliness is key. As with a restaurant, medical facility, tattoo shop or similar, any kind of business that provides items for customers to ingest or someone make contact with their body, needs to be immaculate. In fact, many customers at any of these types of establishments will walk out and not do business with a company that does not look “clean”. The same goes for marijuana dispensaries. What customers see when they walk in is important, so that means that a clean floor, clean windows, an attractive waiting room and well-maintained furniture are a must.
- Top notch staff. Many people who come into a dispensary are expecting a smooth experience and an overall friendly and relaxed vibe. Some people who come into a dispensary are nervous, and having rude or uninformed staff can exacerbate that nervousness and ensure they do not return. Staff that provide a friendly and helpful experience are a crucial component to making customers return. In addition, staff that can give good product recommendation and start to recognize customers will help to create a decent amount of regulars who feel loyal to the company.
- Ease of transaction. This is similar to having good staff, but even good staff cannot cover for a bad process. Making sure that the process of entering, checking in, waiting, shopping and paying are as streamlined as possible will help keep customers happy and confident that the business is well run and cares about their needs. Again, some people will be very nervous when entering a medical marijuana dispensary and a disorganized process will only make them feel more nervous. It is highly important for any business to make customers feel confident in their decision to purchase a product, and this is especially true for the marijuana industry because it’s legalization is still so new.
Anyone who chooses to open a marijuana related business needs to make sure they or a business partner are equipped to run the business based on best practices and tactics that will both attract and retain customers. When they prioritize this, they can make sure they are setting themselves up for success.