Every newcomer to the cannabis industry needs to understand the importance of the phrase ‘from seed to sale.’ This phrase encapsulates the complete journey of the cannabis plant, from cultivation to the final sale in dispensaries. This insight will help you appreciate the complexities of this thriving industry and help you adapt more seamlessly.
The Fundamentals of Cannabis Businesses
The first step in our journey starts with the cannabis growth cycle. You have to appreciate the fact that cannabis is a highly regulated plant, meaning every step of the growth process gets scrutinized. Reputable cannabis dispensaries take this process very seriously.
The growth cycle includes various stages, starting from germination. This stage involves the sprouting of the seeds, which then grow into seedlings. These seedlings transition into the vegetative stage, characterized by fast growth and green foliage.
The following phase is the flowering stage, which is where the magic happens. It’s during this phase that the plant produces buds, which are the parts of the plant richest in cannabinoids – the compounds that provide the medicinal or recreational effects of cannabis.
Harvesting and Processing
Once the cannabis plants mature, they get harvested. Timing is essential here. Harvest too early, and you’ll get a lower yield of cannabinoids. Wait too long, and the quality diminishes, even if it’s the best strain of cannabis you’ve got.
After harvest, the plants undergo a drying and curing process to remove moisture while retaining the all-important cannabinoids and terpenes – the compounds responsible for the aroma and flavor of cannabis.
Then comes the processing stage. The cured buds may be packaged as is for sale, or they may be further processed into a variety of products such as oils, tinctures, edibles, or concentrates.
Top cannabis dispensaries take quality seriously. Therefore, testing becomes an integral part of operations. A sample from each batch of product undergoes rigorous testing to check for cannabinoid content, as well as potential contaminants like pesticides, heavy metals, and mold. Only products that pass these stringent tests make their way to the dispensary shelves.
Inventory management in a cannabis dispensary is a balancing act. You must stock enough products to meet customer demand, but not so much that you risk spoilage or theft. Plus, every gram must be accounted for in your inventory tracking system to satisfy state regulatory requirements.
Regulatory compliance is a big deal in the cannabis industry. Each state has specific regulations concerning cannabis cultivation, processing, testing, packaging, labeling, and sales. Dispensaries must adhere to these rules strictly or face hefty fines or even license revocation. Thus, staying on top of ever-changing regulations is a constant job.
Building a Customer Base
A successful cannabis dispensary builds and maintains a loyal customer base. This success comes from providing quality products, excellent customer service, and an inviting, safe, and professional environment. Dispensaries also offer product education to their customers, helping them understand the different strains, product types, and consumption methods available.
Giving Back to the Community
Top dispensaries understand the importance of community engagement. They may sponsor local events, support charities, or participate in community service projects. By doing so, they contribute positively to their local communities, fostering goodwill and helping to reduce the stigma associated with cannabis.
Of course, hearing all these tips are well and good, but you’ll probably want some concrete evidence of how these things help with growth. Cannabis entrepreneur Karson Humiston was featured on Forbes for her unique yet utterly practical approach to the business of selling cannabis.
With a growth rate of 567% in only a year, there’s no denying her company Vangst was a runaway success. Her advice was simple yet succinct: Stay focused on your goals and hire the best people. While on the surface that’s obvious advice, it’s the underlying motives that are more beneficial. These two are a call to action for cannabis salesmen to take their business seriously.
That means not taking any half-measures or getting distracted by non-essential activities. Katie does both of these things with a passion, as being focused or hiring great people isn’t possible without a genuine passion for the craft.
Acres Cultivation, the first cannabis business to be formally recognized by the State of Nevada’s Safety Consultation and Training Section, emphasizes the importance of thorough workplace safety. “Since working with SCATS’ safety consultants, we have improved our workplace safety,” said Hillary Benz, Operations Manager for Acres. But more importantly, we have built a bridge of trust with our staff members – they know we care about their well-being.”