Every cannabis dispensary that operates within the United States must be compliant with specific regulations, both Federal and State. Those who are found in violation are shut down. To ensure your cannabis dispensary is always staying compliant with local regulations you should be doing the following.
Inventory Tracking Software
The days of tracking shop inventory by hand are long gone. Inventory is now tracked by the use of a good software program. This will tell you what items are in stock, what items have been sold, and, in some cases, what items you need to order. When you click here you’ll be able to see how real business owners use this type of software. This helps to keep all your sales in a detailed fashion so that you’re prepared when an inspection takes place. It also provides you with real-time reporting, so you can always see what your most profitable products are.
Hire An Accountant
Taxes are something that every business owner faces. Determining how much you owe can be a long mathematical headache that will require you to look at sales and purchase histories throughout the year. Any mistake on your part when going through these sheets can result in non-compliance. You should save yourself the trouble by hiring an accounting firm to take care of your annual taxes. This will ensure they’re done right and that you have a guarantee if there’s a problem.
Seek The Help Of An Attorney For Licensing
Getting all the right operating licensing for your business and remembering to renew them every so often can be overwhelming. It’s very easy to get lost in running your own business and forget to renew your operating license. This could lead to your dispensary being shut down for non-compliance. By hiring an attorney that is experienced with cannabis dispensaries you can delegate the responsibility of your licensing requirements.
Have Sales Limit Warnings On Your Software
Local and State regulations vary in regards to the sales limit that a dispensary can meet per person. Although you should definitely take the time to ensure all of your budtenders are properly educated on the per person sales limit, having a backup warning on the POS software can ensure no mistakes happen. When customers purchase a variety of cannabis-infused products, the limits can be confusing for even the most experienced budtenders. The sales limit warnings on your POS software can easily alert these budtenders when they have reached a maximum sales limit for an individual customer.
State regulations require mandatory labeling at certain font sizes and styles for various parts of the business. These can include things like lab test results, medical symbols, activation times, packaging ID, potential allergens, TCH levels, and required warnings. Reading through the regulations book every time you get new products in stock can be a real pain. You can avoid this hassle by purchasing a labeling software that is specifically designed for cannabis dispensaries. This software will take into consideration the location your business is at and print out labels that are compliant with your local regulations.
Staying compliant with Local and State regulations is a must for every cannabis dispensary. Lack of compliance can lead to a temporary or permanent shutdown. To avoid this from happening to your cannabis business, be sure you follow the tips above to stay compliant.