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Are you interested in starting a retail cannabis business? Canada legalized recreational cannabis in October 2018, becoming the first major industrialized country to provide legal and regulated access to cannabis for non-medical purposes. Some of you may wonder what retail cannabis stores will sell. Flowers? Buds? If you haven’t heard of terpenes or cannabinoids, prepare to hear about the health benefits. People are choosing mechanical vape mods over cigarettes. Edibles are first becoming the choice of non-smokers. Gourmet restaurants and cooks are experimenting with barbecue sauces and other tasty delights. Concentrated oils are also becoming popular. All sorts of tools, like specialized bongs and dabbing equipment, are popping up. Topical like hand cream and bathing products are beginning to soothe the skin. You can even drink cannabis in sodas, coffees, and teas, all sorts of beverages. You can buy T-shirts, calendars, and other things related to cannabis.
Canada has become a global leader in cannabis, akin to France’s prominence in the wine industry. Denmark started with the world’s first cannabis coffee shops. Uruguay will be the world’s first government-run recreational marijuana market. Israel is the world leader in medical marijuana research. Treatments and cures for cancer are around the corner. Germany is one of Canada’s biggest exported nations for medical grade marijuana. Australia is also a player. Unlike Canada, they have warmer weather all year round. The United States is a major player, and California’s evolving laws will have a significant impact.
But if you think it’s all about making money, then you have to remember that you can also get robbed. Security is a big deal. How do people come to rob you? There are stories of people breaking into the back wall with axes. You can always break the lock. There is even a story of a cat bugler climbs roofs, it’s the last lace people think about security. Cars have been known to crash into buildings and quickly snatch whatever is inside. The best thing you can have is a security system with video surveillance. You can even hire a security guard. It’s a good idea to have a good relationship with the police. Robberies are common in this industry.
When it comes to online marketing having a website is a must. Social media is also important, but be aware that if it’s not managed well, Facebook, Twitter, and other platforms can shut you down. You also have to be aware that paid ads can be restrictive right now, but there are options available to you. Understand your customers, write a business plan, take steps to find the right location, and you’re on your way. You have a wide selection of products you can choose from. You should think about customer trends. Business is about sales and costs and you have to learn how to keep track of your inventory. It’s also the law.
Security is a very important part of starting and running a retail cannabis business. Have an email marketing plan, and your staff are your best resources. They are the ones who talk to your customers, and they’re the ones you have to trust with your business.
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