Are you thinking about starting a CBD dispensary business? Besides finding space, ordering product and hiring staff, you’ll also need to think about the technology behind the scenes.
You probably know that the right tech stack is essential to get your business started. But that’s not all: having the right tech stack can boost productivity, keep your business compliant and even make it easier to scale for future growth. Here are some tech stack components you’ll want to consider to give your CBD dispensary the best chance at success.
Payment Processing: While the cannabis industry has traditionally depended on cash-only transactions, the 2018 Farm Bill has led to a sharp rise in the number of legal CBD dispensaries, and these businesses need payment processing. Now, in addition to in-store cash transactions, consumers can use credit cards, debit cards or digital wallets (such as Google Pay or Apple Pay) for both in-store and online purchases, and CBD dispensaries are embracing the trend towards cashless and contactless transactions.
POS Vendors: Point-of-sale is not just about receiving payment in exchange for goods: today’s POS software systems also let CBD dispensaries manage inventory across multiple locations and track online sales in real time, gather valuable information about sales trends that can power a more effective marketing strategy and integrate seamlessly with leading accounting and payroll services. Many POS software systems even make it easy to stay compliant with state regulations and licenses.
Click and Collect: As a means of limiting the spread of COVID-19, many jurisdictions have made it possible for CBD retailers to offer click-and-collect (or curbside pickup) ordering. Click and collect ordering lets retailers fulfill online orders quickly and safely, and customers appreciate not having to wait at home for a delivery.
Menus: Digital menus make it easier for CBD dispensaries to communicate with customers. In addition to automatically updating information about product availability and pricing, digital menus can also offer essential information about specific products, including high quality images and effective descriptions. Digital menus can also help highlight your brand identity and attract interest, and the ability to search by product categories makes it easy for customers to find exactly what they’re looking for.
Kiosks: For a convenient, interactive and personalized customer experience, consider using kiosks. Kiosks can drive increased enrolment in loyalty programs, and they help your business by reducing operations and staffing costs. Many kiosks also offer options that help you manage customer check-ins and lineups, a valuable tool for CBD dispensaries that are looking to grow. And because kiosks collect customer data, they can even help deliver more targeted customer engagement and reward program campaigns.
Success doesn’t just happen, you have to set yourself up right to give yourself the best chance at achieving your goals. The right tech stack can get you there. Our payments experts have experience working with the leading technology providers in this space. Contact us today and we can provide guidance on which solutions you should be considering. Call us at 1-800-957-0534 or email us at firstname.lastname@example.org.