Competition in the medical marijuana industry is fierce, particularly in California and Colorado. Many dispensaries are in a race to the bottom in terms of price, offering eights for as low as $20. That’s created razor-thin profit margins for some MMCs, while others are bleeding red ink.
So how can a dispensary set itself apart from the competition and not get caught in a price war? Sometimes, the best way to figure out what customers want is to put yourself in their shoes. This post on a blog about health and fitness offers patients some guidelines about choosing a pot shop. While it’s aimed at consumers, dispensary owners can learn from it as well.
The main point of the post: Choose a dispensary that is professional in its advertising, appearance and interactions. That means focusing on the medicinal – not recreational – side of marijuana in ads, ensuring that the storefront is in respectable shape (no peeling paint, crumbling foundations, dirty windows) and offering a high level of customer service (get rid of the flaky receptionists). It also means following all state regulations tied to dealing with customers, such as checking ID cards at the front desk.
Some of these might sound like no-brainers, but there are plenty of dispensaries that fail in one or all of these areas.
We also found this list of recommended questions patients should go through when choosing a dispensary. MMC owners should look it over too and see if they meet all the requirements.