Although the rules governing cannabis sales in the United States are still being worked out, one thing is for certain: the industry is flourishing.
A study found that more than half of American adults have used marijuana at some point in their lives. The survey defines “current use” as having used marijuana at least once or twice in the year preceding. Nearly 55 million of them, or 22%, do so at this time. People who use marijuana at least once or twice a month, or what the study refers to as “regular users,” number close to 35 million.
There are obviously a lot of prospects in the cannabis industry, so we can anticipate an increase in the number of businesses entering this industry. One of the first things you should focus on if you’re considering doing that is compliance.
We’ll outline the top five tips in this post for you to follow to make sure your marijuana dispensary complies with all safety and community requirements, the law, and your business operations.
Top Five Cannabis Compliance Tips For Retailers
Here are the top five cannabis compliance tips for cannabis retailers:
Renew Your License On Time
Every state with legalized marijuana has its own licensing standards for both medical and recreational use. Business, retail, dispensary, and cultivation licenses are examples of common license categories. Certain cannabis businesses demand particular paperwork as proof of their legality. Cannabis businesses must be aware of their state’s regulations in order to avoid having to shut down for not having the necessary paperwork.
Employees in the cannabis industry must possess the appropriate licensing, just like those working in traditional businesses. Cannabis business owners and managers should make sure their staff members are up-to-date on state employment requirements and have valid licenses. A sudden employee audit could put you in legal jeopardy, otherwise.
Invest In Robust Technology
State-of-the-art technology may not be required, but not investing in it can raise the risk of non-compliance. Your company is vulnerable to error or theft when activities like inventory tracking and transaction monitoring are performed manually or using outdated technologies.
Working with a technology provider that provides cutting-edge software and systems that keep your company compliant is essential.
The sale and distribution of cannabis products are governed by state and local legislation in the majority of states, and cannabis remains illegal under federal law. In order to avoid legal repercussions, cannabis merchants must abide by all applicable federal, state, and municipal laws and regulations. Heavy fines, license loss, and even criminal charges may follow failure to comply with regulations.
Making sure that every customer or patient who enters your dispensary has a legitimate ID is the first step in maintaining compliance. This often means that customers must be at least 21 years old or have a valid medical registration card in order to enter the dispensary.
A good analytics system connected to your ID verification and/or POS system will allow you to generate reports that reveal which of your staff are scanning the most customers into a location and generate alerts for circumstances where there may be a training or fraudulent issue occurring. It should go without saying that the cannabis business is susceptible to the legal and federal ramifications of selling marijuana to patients or consumers who are not in legal status.
Prepare Standard Operating Procedures
Standard operating procedures (SOPs) may keep your dispensaries all on the same page and are a great organizing tool. SOPs increase performance efficiency, consistency, and efficiency while reducing errors in communication or failure to meet compliance goals.
You must choose a point person to oversee the entire process of developing and documenting SOPs. This guarantees that the process will be watched closely and that any task list deviations can be quickly rectified using a suitable method.
It’s also crucial to recognize that requiring staff to memorize every state compliance regulation isn’t a sufficient replacement for a Standard Operating Procedure. Instead, make sure the tools provided to your employees can allow for baked-in action plans to ensure employees know what to do next when an issue arises.
Keep Your Business Compliant
For dispensaries and retail establishments, cannabis compliance will undoubtedly remain difficult. Maintaining compliance can turn into an ongoing responsibility on top of other daily operational tasks, which is a challenge for business owners and managers due to the constantly changing rules and regulations.
Being proactive and adhering to best practices can assist make sure your company is protected as much as possible. Working with a trustworthy cannabis services company can also assist in entrusting compliance obligations so you can concentrate on other issues.