What’s The Deal With Marijuana Industry and Should I Enter It?
Two out of three Americans are now in favor of legalization, if that statement doesn’t speak volumes we don’t know what will. The legal cannabis industry has firmly rooted itself in our economy and it’s only going to continue to bloom from here.
While many industries were left high and dry during the COVID-19 pandemic, the cannabis industry remained open and essential. The industry has proven itself to be adaptable and necessary to the economy. It was reported that cannabis sales increased by 46% in 2020 alone. More growth opportunities continue to sprout across the country as legalization continues.
Before investing in the cannabis industry here are five things to consider.
Outline the Future of Your Biz
The process of getting licensed varies from state to state and it can be a daunting process. It will take time, money, and a lot of research. But with all of those things in mind, it’s best to come up with a plan or a flow chart. How do you vision operating, who will cover what rolls, and how does the customer process look. You always want customers to leave raving fans. Here at Bloom, we value quality customer service. That’s why we continuously check in our processes to make sure it stays top-notch.
Team Work Makes the Dream Work
This might sound corny but it’s true. Bloom wouldn’t be where we are today without incredible teamwork. There’s a lot that goes on behind the scenes of any business and you want to have faith the workers are doing their best. Take a look at business and corporate coaches to come in and help structure a strong team.
It seems like almost every week you see a new dispensary open up. Observe how other operations are managing things. What are customers saying, how is the customer service, what products do they have in stock, do they run out of products. By observing the strengths and weaknesses in other businesses it gives you time to reflect on where your business can grow.