Discover actionable strategies for dispensaries to increase accessory sales from the typical 1.5% of revenue up to 5% or more, with smart stocking tips like prioritizing vape batteries and basic essentials that keep customers coming back. Justin also dives into the challenges and future of the cannabis industry, including thoughts on federal legalization, market regulation, and how dispensaries can survive and thrive amid shifting landscapes.
Whether you're launching a new store, looking to expand your product mix, or aiming to boost profit margins, this candid conversation is packed with insider insights and practical advice to help you scale your cannabis business. Plus, don’t miss details on how dispensaries can get started with a $2,000 consignment package and free consultation with Justin’s team.
Tune in to learn how to unlock accessories as a key revenue driver and get connected with the tools that will elevate your dispensary’s success!
Find out more about BudsFeed at:
https://budsfeed.com/
https://www.linkedin.com/company/dyspensr/
https://www.linkedin.com/in/justinmichaeljohnson/
https://www.linkedin.com/company/budsfeed/
00:00 Introduction and Initial Connections
00:22 The Vision Behind BudsFeed
01:05 Building the BudsFeed Community
02:54 Challenges and Successes
05:21 Transition to Elevated Accessories
05:56 Strategies for Dispensary Accessories
11:24 Introducing Dispenser: A Wholesale Platform
13:07 Supporting Dispensaries with Consignment
20:22 Data-Driven Decisions for Dispensaries
23:10 Challenges of High-End Dispensaries
23:46 Replenishment Strategies for Dispensaries
24:42 Wholesale and Distribution Insights
25:45 Personalization and Large Orders
29:23 Loyalty Programs and Customer Service
30:13 Innovations in Dispensary Operations
34:40 The Future of Cannabis Legalization
36:06 Economic Realities of the Cannabis Market
38:08 California's Cannabis Market Struggles
41:05 Final Thoughts and Contact Information
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