Creating a compliance strategy for your cannabis dispensary is a way to future-proof your business in a volatile emerging market.
Operating a cannabis retail dispensary offers an incredible opportunity to get involved in an emerging industry with huge growth potential.
It’s a thrilling but complicated business environment, so you have to make sure your business operations are compliant.
At Cannaspire, compliance is core to our mission. We help business owners navigate the evolving landscape of cannabis law to ensure their dispensaries are compliant on multiple levels. We keep you up to date on all licensing issues, local and state regulations, rule changes, or potential compliance problems.
Compliance Infractions To Guard Your Cannabis Business Against
Here are ten common areas where dispensaries slip up – and we help ensure you avoid them at all costs.
- Poor inventory management. This can lead to hefty fines, penalties, suspension, or the loss of your cannabis license.
- Failure to report and pay taxes. This can result in a hefty bill, onerous audits, or fines for unpaid state taxes.
- Incomplete recording and security of transactions. It’s important to report inventory and sales figures as failing to do so will result in a violation.
- Failure to follow packaging, labeling, and product safety. Pay close attention to these requirements as local laws and rules about these keep changing. A comprehensive look into cannabis labeling and what you can do to be compliant is provided HERE.
- Poor security and surveillance system. Dispensary, cybersecurity, and data security are of paramount importance for cannabis dispensary businesses as failure will eventually lead to several non-compliance issues.
- Poor standard operating procedures (SOPs). These are critical to key operations as this ensures that every process is up to compliance standards.
- Operating without a license. Knowing the required licensing requirements in your state is critical to the continuous operation of your business.
- Failure to enforce daily sales limits. Whether it’s exceeding the daily sales limit for medical patients and adult-use customers, selling to an underage person or beyond the authorized operating hours have troubled several marijuana dispensaries.
- Failure to adhere to delivery regulations. There are several areas of compliance and requirements that need to be met to avoid cannabis compliance violations.
- Failure to find a reliable technology or law partner. It’s important to find partners that will keep your cannabis dispensary on the right side of the law.
All these compliance issues can be prevented and solved by having the proper business partners.
Cannaspire: Helping Your Cannabis Dispensary Stay CompliantAt Cannaspire, we understand the unique challenges of the cannabis dispensary retail industry. We know that maintaining compliance is the most important factor in keeping your marijuana dispensary open for business. We provide cannabis compliance consulting services to companies that cultivate, manufacture, or distribute marijuana or ancillary products. Our clients trust our expertise in building a well-designed regulatory compliance program, quality control measures, and monitoring company directives to align their operations with laws and regulations. More importantly, staying compliant enhances the customer experience – and this can go a long way in establishing trust and long-term customer relationships.
Cannaspire Compliance Services and SolutionsOur host of regulatory offerings support retail dispensary business growth and compliance includes the following, but are not limited to:
- Securing and managing proper licenses
- Application services and permitting
- Compliant process review
- Comprehensive management and staff training and certification
- Active regulatory monitoring and updates
- Policies, procedures, documentation, and record retention controls
- Gap analyses and risk assessments
- Management of compliance program
- Cannabis dispensary compliance audits
- Quality control and auditing plans
- Marketing, advertising, and packaging compliance
- Public policy and safety measures
- Dispensary security
- Inventory data management and traceability
- Tax reporting
- Customer purchase limit measures
- Development of communication initiatives, training, and compliance workshops