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5 Top Cannabis Industry Insiders Give Their Best Retail Tips

Get your pen and paper ready for these top tips

Allison Ireton, Legal Counsel for Bloom City Club 

The first and only female-owned and operated dispensary in Michigan. Bloom offers organic, pesticide-free, high-quality cannabis, produced exclusively by members of their collective of caregivers.
“If you want to attract customers and keep them coming back, you have to make it easy for them to shop with you. If you are in the process of looking for a location, put safe and ample parking at the top of your list of desirable features. Also, while it’s great to find a location on a busy street, if it’s difficult to exit your lot during rush hour traffic, people will think twice about stopping.”

 

Dan Nelson, Founder & CEO of Wikileaf

The first price comparison tool for legal cannabis, serving 20 states and Canada.
“For Washington State, the biggest newbie question is can we touch, smell and examine the cannabis before we purchase?
The answer, No. Unlike the medical days in Washington State where everything was in jars and you could take the buds out, break them up, smell them, look at them under a microscope, etc., in the recreational market here in WA State, everything is now heavily regulated. There are regulations on packaging – which prevent customers from touching or smelling the product. And there are regulations on traceability so that the state can accurately monitor every gram of cannabis that is sold recreationally all the way from the seed of the plant to the eventual sale of the buds to the end consumer. Both of these regulations prevent any sensory examinations of the product by the consumer. Unfortunately.”

 

Wil Ralston, President of SinglePoint (OTCQB: SING)

A publicly-traded cannabis and technology holding company specializing in acquisitions of small to mid-sized companies with an emphasis on mobile technologies and emerging markets.
“While many seem to be under the assumption that running a cannabis retail shop is an easy way to make a sure profit, given the large numbers of consumers in legal states, there exists a complex net of ever-changing regulations applied to the industry that makes profitability difficult to achieve. From being unable to write off business expenses due to federal illegality, to the threat of raids, to difficulties involved in running a cash-only business, cannabis retail continues to be among the more challenging sectors in the industry.”

 

Arnaud Dumas de Rauly, Chief Strategy Officer for The Blinc Group

A distribution-centric vapor and cannabis incubator.
“Childproof packaging is a big concern when it comes to cannabis retail and many manufacturers/importers do not take this into account.
The best way to know that you have a childproof product is to ask for a General Certificate of Conformity (GCC) in which the manufacturer or importer certifies that its non-children’s (general use) product complies with all applicable consumer product safety rules (or similar rules, bans, standards, or regulations under any law enforced by the Commission for that product).
Don’t hesitate to contact CPSC to identify requirements and testing labs.”

 

Mikel Alvarez, Director of Retail Operations for Terra Tech (OTCMKTS: TRTC)

The largest publicly traded cannabis company in the U.S.
“A common question that we hear at the dispensary is, ‘Why would I shop at a dispensary when I can get weed from my buddy (aka via the black market)?’
Answer: The difference between a legal dispensary and the black market is that our products are 100% tested for mold, pesticides, microbials, terpenes, and THC. Black market cannabis is not tested and you do not know what you are consuming. Legal dispensaries will always disclose testing results for products they sell.”

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