When preparing your cannabis application, the more details you include, the better chance you have of winning the license. Writing detailed plans and procedures for your business shows that you understand how electronic tracking systems, cannabis POS systems, and other tools operate and how you’re required to use them – which can impress the powers that be who are in charge of awarding your license.
With that in mind, the cannabis consulting team at Higher Yields Consulting recommends that you choose your tech stack during the early stages of planning your business and preparing your application.
Starting early allows you to take advantage of an all-in-one technology tool like Dutchie, which has an e-manual for training and creating standard operating procedures (SOPs), integrates with state-designated tracking tools, and handles everything from inventory audits to record keeping.
Here are four reasons you should choose your cannabis POS systems, data security tools, and other technology ahead of time, and how Dutchie’s tools and integrations can help you prepare a stronger application.
Show that Major Decisions Have Already Been Made
Similar to purchasing real estate, you want your license application to show that you’re prepared and have already made a lot of the major decisions for your cannabusiness. This includes having:
- Real estate purchased or on contingency
- A detailed marketing plan
- Research on your state’s designated electronic tracking system
The goal here is to demonstrate that you essentially have an established business that only needs the license to become operational. If you already have your tech stack picked out and understand how your cannabis POS systems, e-commerce platform, and tracking systems integrate, you’ll have a much stronger application.
Plan for Compliance Integration
Compliance — specifically, being able to demonstrate a plan to integrate with your state’s compliance tool, such as METRC or BioTrack — plays a huge role in winning a license. This means you need a solid understanding of which tracking system your state requires and how it speaks to your cannabis POS systems and to the state.
Choosing your technology early gives you ample time to check requirements and ensure you use systems that integrate with the correct tracking tools. That way, you’re much less likely to run into compliance issues that could cost you the license.
Prepare Diversion Prevention Plans & Inventory Control
A strong diversion prevention plan details how you will train employees to notice and report any fellow employees attempting to divert product into illicit markets or customers who are circumventing purchasing limits. This plan shows the state your operation will be secure and won’t pose any legal problems.
Additionally, you’ll want to show plans for inventory control. This might include:
- Taking physical counts of inventory
- Conducting full inventory audits and analyzing any discrepancies
- Waste disposal and tracking plans
- Record keeping in accordance with state requirements
When you choose your technology early in the process of making these plans, you can take advantage of all-in-one tools like Dutchie that handle creating SOPs and processes, conducting inventory audits, maintaining product and sales records, and more.
Start Small for a Stronger Operation
When you’re just getting started as a small operator, you may not have experience with cannabis POS systems, electronic tracking systems, or other technical aspects of running a successful cannabusiness.
In that case, it can be extremely helpful to use a technology system like Dutchie that can also act as a resource to help fill in the gaps of cannabis industry knowledge and experience. The earlier you get started learning, the better chance you have of getting your foot in the door, and the better prepared you’ll be once you open.
Choose Your Cannabis POS Systems & Tech Early
Crafting a strong cannabis application requires careful planning and thorough preparation. The earlier you get started choosing your infrastructure, SOPs, data security, cannabis POS systems, and other technology, the more competitive your application will be.
With Dutchie’s e-manual, compliance integrations, and planning capabilities, you can strengthen your application from the start. Plus, there’s no payment until your business opens, so you have ample time to try out the system and understand how it works before having to pay for it.