Top Tips for Increasing Cannabis Sales

by Confia Development | Dec 30, 2021 | Blog

According to recent estimates, in 2020, the cannabis industry has accrued record sales of about $17.5 billion. However, even though quality product is in great demand, there are more and more dispensaries opening across the USA. This means that operators need to put in extra effort to attract consumers’ attention and grow their customer base. 

After opening the best transaction account for cannabis and making sure your financial operations flow smoothly, you can start considering the best ways to boost your revenue. Read on to get to know more about the crucial factors that may have an impact on your sales. 

How can a dispensary increase sales?

There are multiple aspects to think about when you’re fighting for more sales. If you play your cards right, customers will be flocking to your store instead of the one across the street. This is an ongoing process that may take some trial and error, but here are some general tips to get you started.

1. Improve your marketing strategy

On the plus side, cannabis products are already in demand, so you don’t have to work hard to convince customers to purchase them. However, with more and more operators getting their license and opening for business, you do have to persuade them to purchase it from you, not your competitors. Although dispensaries have more limited marketing opportunities compared to traditional businesses, there are still many options to consider, both offline and online.

2. Gather information and put it to good use

If you’re just setting up your dispensary, regarding cannabis sales. You can learn a lot from the experience of other professionals. Also, meticulously keep track of customer feedback and sales statistics because this information will be the cornerstone of your future strategy. As you slowly gain your footing, grow your brand, and find out more about your consumers’ needs, you can adjust your tactics accordingly. 

3. Offer superior product

You’ll persuade your customers to come back to your store only if you supply them with a top-quality product. Since the competition is tough, rest assured that your customers won’t settle for less. You can specialize in a certain kind of product not commonly offered by your competitors. This way, you’ll add extra value and exclusivity to your merchandise.

4. Provide the highest standard of service

Skilled salesmanship is another essential aspect of boosting brand loyalty. You need to make sure that they feel comfortable and appreciated at your store, and you can only pull this off if you have competent staff. You can also increase client retention by rewarding their loyalty with discount programs and freebies. 

How do I get more customers to my dispensary?

It’s the mission of every business to reach more customers, but this is easier said than done in a highly competitive market. Overall, it’s all about developing a tailored, in-depth approach to sales and applying it consistently. 

You should also tweak and improve your strategy as you gain a deeper understanding of customers’ expectations. In addition, keeping up with novel developments in the industry is highly encouraged, as it’ll help you update your marketing procedures.

Where can I get the best transaction account for cannabis operators?

Confia provides game-changing cannabis financial services that can enhance your commerce experience and push your business to the forefront of the industry. Our Transact Membership caters specifically to marketplace retailers. It covers effortless and secure marketplace payments, consumer Web/POS payments, payroll processing, and access to our loans program.

We’re committed to offering transparent, affordable, and dependable services that address the specific needs of cannabis operators. Contact us today to speed up your business growth!

A Guide to Getting a Cannabis Dispensary License

by Confia Development | Dec 8, 2021 | Blog

Can you see yourself running a successful cannabis dispensary? If you’re thinking about joining the rapidly growing cannabis industry, you’ll likely have to handle many difficulties, such as finding a cannabis-friendly bank where you can open a transaction account. However, getting your license is the first of these challenges. 

Licensing is usually a time-consuming and costly operation. You’ll need to go over multiple steps before you launch your dispensary and this helpful guide can be your starting point. Read on to get a deeper understanding of this extensive process and the requirements it involves.

How to get a license for a cannabis dispensary?

Obtaining your license and opening for business takes some patience and preparation. It usually happens in several stages:

• Researching your state’s specific requirements: While there are some conditions all businesses need to meet, every state has unique regulations surrounding cannabis. You’ll have to determine what your state government expects of cannabis operators.
• Pinpointing potential problems in advance: Double-check your business plan to determine if there are any potential issues. These mistakes could lead to your application being turned down, so work on them on time. 
• Putting the paperwork together: Next you’ll need to fill out necessary forms. Do it as honestly and directly as possible. In addition, you’ll have to provide the licensing agency with your tax ID number, proof of your ownership structure, and other documents. Make sure that everything is in order before submitting. 
• Waiting for approval: It will take some time for the licensing agency to process and examine your application. They will oftentimes then call you in for an in-person consultation. You’ll also likely be charged your application fee at this stage.
• Get final approval: Sometimes, your dispensary will need to be additionally approved by your local government. It’s advisable to check local requirements in advance and factor in the additional wait time. Soon you’ll be able to launch your company and start promoting it!

What are the requirements for a dispensary license?

There are several essential legal requirements that generally apply to all new cannabis operators. However, they can vary based on the location you’re in. 

For example, you and your staff will only have to undergo a background check in some states. Also, certain states approve many licenses in a given application period while others only give a limited number of licenses. In some places, you submit the documentation to the Secretary of State and in others, you go through a licensing agency. In California, for example, entrepreneurs can file their application with the Bureau of Cannabis Control.

Here is the general rundown of some common requirements:

• Business plan, which is the outline of the basic elements of your business.
• Proof of funding, which proves that you have the necessary capital to fund your dispensary.
• Staff list, so that background checks can be conducted, if needed.
• Location of your premises, which need to be compliant according to local regulations.

Where can I open a dependable cannabis transaction account?

The goal of the licensing process is to determine that you can do business within the legal framework. Having a reliable commerce partner and a transparent transaction account are essential elements of maintaining this legal compliance.

With Confia’s Transact Membership, you will access a robust set of financial services, including streamlined cash deposits, incoming and outgoing ACH and wire transfers, payroll processing, a fully compliant BSA program, and more. Our assistance is reasonably priced and easily accessible thanks to our straightforward onboarding process. 

Take one of the first steps toward opening your dispensary by forming a reliable partnership with us. You’ll be able to focus on marketing your products and increasing revenue instead of worrying about the compliance and efficiency of your financial operations. Contact us, opt for one of our membership options and overtake the competition!

Opening a Cannabis Dispensary: What You Need to Know

by Confia Development | Nov 26, 2021 | Blog

With the legal cannabis market flourishing, there’s a surge of interest in opening dispensaries. While the process does come with its fair share of challenges, you can handle it successfully if you carefully navigate the industry’s requirements. If you’re a forward-thinking entrepreneur interested in joining this growing industry, getting to know the steps involved in the launching process can make the experience much easier. 

With a solid strategy and access to dependable cannabis transaction services, this could be the best business move you’ve ever made. Read on to discover the ins and outs of the pre-launch stage of your journey.

How to open a cannabis dispensary?

There are multiple details to think about when you’re preparing to launch your dispensary. Handling them properly will set you up for success and pave the way for smoother operations down the line. Here’s what to consider.

1. Are you eligible and ready to commit?

Although it can be very lucrative, the cannabis industry is also highly regulated and fraught with multiple challenges. Jumping into it casually is unlikely to bring in the profit you’re hoping for. You need to make sure you’re ready to make a serious commitment. You’ll also have to check that setting up a dispensary is legal in your state and that you’re eligible for it in case a background check is required.

1. Are you familiar with the legal framework?

Before you actually start doing business, you’ll need to research the requirements for a dispensary license and gather the necessary materials to meet them. Once you’re in operation, you’ll have to continue keeping up with ever-changing federal, state, and local laws to maintain the legality of your business. 

1. Have you found a suitable property?

Research what constitutes a compliant property in your state and set out on your search for one that meets all the requirements. Be upfront with the property’s landlord and make sure they agree to how you’re going to use it.

1. Do you have a well-thought out business plan?

A business plan that’s carefully put together shows your professionalism and integrity as an entrepreneur. It should include several parts that explain your strategy, ownership structure, financial plan, and other elements of your business.

1. How will you cover your expenses?

You need enough capital to cover multiple expenses, such as rent, licensing, employee salaries, storage, transport, and more. You can get access to a lending program by working with reliable financial networks, such as Confia.

1. Is your license application in order?

You’ll have to invest some time and money in the licensing process. It typically requires extensive resources and strict adherence to compliance laws. However, it’s an indispensable part of running a legal business.

1. How will you access quality products?

Needless to say, you have to offer quality products to get your dispensary off the ground. Whether you’ll be selling oils, edibles, or other cannabis products, get in touch with reliable cultivators who can supply you with them.

1. How will you reach your customers?

You’ll ensure sales and increase profit by making smart marketing choices. Knowing how to promote your dispensary will keep it competitive and set it apart from other similar businesses. These strategies include regularly updating your social media profiles, keeping your website SEO-friendly, and more.

Who offers reliable cannabis transaction services?

Confia is a trustworthy financial network that offers comprehensive commerce support to the members of the cannabis industry. Our automated compliance procedures ensure rigorous adherence to the law, keeping your new company safe from legal issues. This is especially important during the launching stage, since it gives you protection and reassurance during this vulnerable time.

We have multiple membership options, including our Transact Membership, which covers streamlined payment processing, payroll management, access to our funding program, and other services. We ensure rapid and unrestricted workflows at reasonable prices. 

Take advantage of our effortless onboarding and robust service suites. Get in touch with us to select your preferred membership option. Your efficient financial operations will soon be in full swing!