On November 6, 2012, the voters in Colorado passed Amendment 64, which received acceptance in January 2014. The bill was about to the legalization of cannabis – also known as marijuana.
Soon after the acceptance of the bill, people started building up cannabis dispensaries in the region. Although marijuana became legal, still all cannabis dispensaries owners had to get an approval of many state laws, apply for the license, and follow all the restrictions. Moreover, the special taxes on such stores are an indication that such businesses had to make tons of profits. Otherwise, the business might shut down.
Therefore, if you are planning to start or already own a cannabis dispensary, then it is important for you to look out for the perfect way to set a POS system for such a venture.
Dispensary POS Hardware
Electronic equipment that you need for a cannabis dispensary POS system is usually similar to any other POS system in any business. Such as:
- Cash register
- Cash drawer
- Bar-code scanner
- Pole display
- Receipt printer
- Credit card terminal
Dispensary POS Software
The software for point of sale at a dispensary has to keep the specific requirements of this industry in mind. The software also creates a detailed report of every customer at the end of the month. That report goes to the respective government officials. Also, the report makes it easier for you to analyze business performance and increase your customer reach.
Pros of Dispensary POS Software
1. Effective Inventory Management
Stock at the grocery store sells slower than the cannabis stock at the dispensary. Therefore, it easy for dispensary POS software to keep a track of inventory, thus, increased efficiency and greater profit margins.
2. Secure Your Business License
Dispensary POS software contains a programming structure that abides by all the government policies and restrictions. For this reason, a monthly report has to go to the government for approval. It saves the company’s license from cancelation.
3. Specific Software, Less Struggle
The dispensary POS software is highly specific and requires only one person to monitor everything. As a result, the business saves a lot from hiring only a few employees, adding up to the company’s profits. The system software performs more than half of the operations on its own. Therefore, the company doesn’t have to invest in the training of the employees
Cons of Dispensary POS Software
According to the latest researches and studies, cannabis heal some serious medical conditions and chronic pains. Therefore, you should set the right limit and program all set of rules and regulations into the software. You have to make sure that the software prints an accurate report.
2. Hard To Find Business Partners
A product that has earned the legal status just now can return to its old status again. Thus, the owners face difficulty in finding the investors that can help build personalized software for the business.
3. Staying Updated Seems Tiring
The owner has to keep checking for any new laws or restrictions. After that, they have to make changes accordingly in the software. This can be highly tiring and expensive at times.
If you want to get a personalized POS system for your cannabis dispensary, then contact Smart POS, and make the most out of your venture.
Call today: 303-309-1218