The Innovative API Powering Retail Marijuana
Automation takes some of the complexity out of retail marijuana
In an industry with traditionally high profit margins and ample demand, it is surprising that only 41% of medical dispensaries and retail stores have been performing “Modestly Profitable” or better through Q1. Clearly there are underlying issues and logistics that the current marketplace has been unable to address adequately .
Today’s retail marijuana business owner faces a unique set of challenging hurdles. “Cannabis technology is fragmented by region and the diverse needs of each business, and is further complicated by the explosive growth of the market,” said Doug Francis, CEO of Weedmaps. Traceability compliance, inventory control, cash management, sales limits, and legitimate operation within a consistently evolving set of regionalized rules and regulations can be time consuming hurdles that hinder strategic business planning and growth.
These hurdles do more than cause headaches and sleepless nights; they aggressively erode profits in this retail-driven industry that’s on track to hit $6.7 billion in revenues this year. Weedmaps, the first and largest global technology and media company in the cannabis space, is working to ease these pain points through a new partnership with cannabis technology company Green Bits, a leader in point-of-sale (POS) and inventory management solutions.
The partnership will solve real business problems by delivering technology solutions aimed at helping dispensary owners streamline their operations while maintaining compliance and delivering reliable, real-time menu information to patients and consumers. No longer burdened with duplicate data entry and seemingly endless operational minutia, business owners will now be free to invest their valuable time and effort in strategically growing their business and increasing profits.
This innovative technology integration will:
- Enable every menu update – from inventory, price, weights, lab testing, etc. – within the Green Bits POS to automatically update Weedmaps apps and website in real time
- Arm Weedmaps’ customers with the most reliable, up-to-date menu and pricing information available prior to arriving at a dispensary
- Reduce the number of hours spent by dispensary owners and staff updating menus
“This partnership delivers untouchable technology solutions that will improve bottom-lines for dispensary owners,” said Ben Curren, Green Bits founder and CEO. “We’re proud to partner with a market leader and innovator like Weedmaps, and we look forward to exploring even more ways to address the cannabis industry’s ongoing technology needs.”
For more information on Weedmaps’ partnership with Green Bits, please visit Weedmaps.com/GreenBits
Thanks to marijuana.com
Medical marijuana dispensaries will outnumber Walmarts and Walgreens in Florida, anti-pot group says – PolitiFact DEA could reclassify marijuana, allowing doctors to conduct more research – USA TODAY
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