Not all retail spaces are created equal. Neither are all point of sale (POS) platforms. Case in point: Cannabis. The regulatory apparatus makes the industry a bit more complicated than most, and that means it’s especially tough to be a smooth operator who offers a sparkling customer experience. Of course, the right POS software can simplify things, but finding the right one is no picnic. In aid of your search, we have a list of things you’ll want to look for when it’s time to choose the best POS software for your cannabis dispensary.
Without inventory, you’ve got no business. Without inventory management, you’ve got no business running a dispensary. A good cannabis POS system should allow you to view, organize, and manage all inventory details from a single platform. This includes shipping manifests, product intake, and storage. Any software that streamlines inventory control will help eliminate errors, save time, and improve tracking.
The aforementioned regulations really separate cannabis from everything else. Love it or hate it, METRC is in more and more states, so POS software that integrates with it can be a lifesaver. It can allow you to sync your inventory and transactions with the regulatory requirements. You’ll be able to identify and fix discrepancies much faster than otherwise, and more compliance means fewer fines.
Expired product helps nobody. If you want profits, you need to get all the value you can out of your inventory. The best POS system for your dispensary will help you calculate the value of in-stock inventory and let you know exactly what’s expiring when. Once you know how much capital is tied up in a product, and where it is in its shelf life, you’ll be able to make better decisions about which inventory to move, when to move it, and how to maintain profits.
No one benefits when illicit products enter the cannabis economy, or when legit products are sold illegally. Therefore, mind your labels. A robust POS suite will track all the data that will help you customize labels however you need to comply with state law - for any cannabis product. When the labeling is on point, your dispensary will stay out of hot water, and your customers will trust that they're getting exactly what they're paying for.
A lot of things can boost your average cart size. Perhaps the most overlooked factor is a silky checkout. The best POS can handle debit or credit card payments to speed things along. And less cash on hand improves security and streamlines operations – convenient for your customers, friendly to the bottom line.
Even well-intentioned customers make errors, and not every customer is well-intentioned. A reliable POS provides real-time monitoring of purchase limits. It’s the most effective way to make sure your staff can process transactions confidently and 100% above board. That way, your dispensary adheres to legal purchase limits, and is compliant year-round.
Loyalty rewards and flexible offers are a magic medicine for customer retention. But they are difficult to implement – impossible with poor organization. A good POS system should allow you to create dynamic offers based on factors like customer type or cart items. Engagement is the lifeblood of repeat business, and using loyalty points like cash or tailoring rewards can keep your clientele dialed into the shopping experience.
When all is said and done, running a business is about decision-making, and data drives sound decisions. A POS system with comprehensive analytics provides key performance metrics at a glance. For your dispensary, you’ll want detailed inventory reports to help optimize stock, promotions, and overall business optimization.
But where to go? Well, Toke offers a POS system that can help you streamline operations, maximize profitability, and enhance the customer experience for your cannabis dispensary. It interfaces with METRC, makes labeling a breeze, tracks purchasing limits, and facilitates rewards programs. Oh, and you can go cashless with it. So, we might have given you a lengthy list of requirements for a POS system, but we also offer the perfect solution to help your dispensary thrive.
The guidance you need to take your dispensary to the next level.
Let us show you why Toke is the POS your dispensary needs.
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