How to Choose the Best Cannabis Payment Solution in 2024 (FAQ)
Cova Cannabis Retail Blog
by
15h ago
Choosing which payment solution to invest in is a big decision with an even bigger impact on your cannabis dispensary. The decision isn’t helped by the fact that the cannabis industry is constantly evolving, and so is the technology used for processing transactions. Thankfully, we help dispensaries all over North America set up their payment systems and in this article, we’ll share our ideal payment solution system, alternatives, and what to avoid. In Canada, where the Cannabis Act (i.e. federal legalization) ensures no legal complications for banks and payment processors, cannabis stores are ..read more
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A Guide for Next Steps for Maryland Dispensary License Winners
Cova Cannabis Retail Blog
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3w ago
Maryland recently held a lottery for social equity applicants to receive one of 179 cannabis dispensary licenses. At over 1,500 eligible applicants, if you are one of the Maryland adult-use business license winners, congratulations — this is a once in a lifetime opportunity. Now the real work, and real excitement, begins for winners to create a successful cannabis dispensary brand. Next Steps for Maryland Dispensary License Winners When you consider everything you need to do to launch your cannabis store, it can feel overwhelming. Unlike other retail industries, cannabis retail is truly uniqu ..read more
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How the Right Tech Stack Helps Lenox Hill Cannabis Co. Serve New York's Upper East Side
Cova Cannabis Retail Blog
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3w ago
Location, location, location. In retail, it determines the success of a business, and in the case of Lenox Hill Cannabis Co., is what guided and helped refine both their name and New York dispensary brand. Co-founder Wei Hu and his partners, Michael Graubard and Dominick Cuffaro, were always determined. They shared a passion to further destigmatize and normalize cannabis consumption, to promote education, and ensure safe, legal access to the plant. With a highly coveted Conditional Adult-Use Retail Dispensary (CAURD) license for the Manhattan Region in hand, they focused on securing the right ..read more
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How the Right Tech Stack Helps Lenox Hill Cannabis Co. Serve New York's Upper East Side
Cova Cannabis Retail Blog
by
1M ago
Location, location, location. In retail, it determines the success of a business, and in the case of Lenox Hill Cannabis Co., is what guided and helped refine both their name and New York dispensary brand. Co-founder Wei Hu and his partners, Michael Graubard and Dominick Cuffaro, were always determined. They shared a passion to further destigmatize and normalize cannabis consumption, to promote education, and ensure safe, legal access to the plant. With a highly coveted Conditional Adult-Use Retail Dispensary (CAURD) license for the Manhattan Region in hand, they focused on securing the right ..read more
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How to Calculate ROI for Cannabis Dispensary Technology
Cova Cannabis Retail Blog
by Gary Cohen
4M ago
Retailing is hard and dispensaries are the hardest retail. It’s one of the most complex retail environments in business, and the compliancy requirements only add to the difficulty. Some technology is required for cannabis retail, like a cannabis-specific Point of Sale (POS), security systems, and ID Scanners in some states, but aside from that, stores can sell cannabis with little else. However, there are a multitude of services that can provide benefits to the budtender, store manager, owner, and even the customers. Some in-store offerings are CRM/Loyalty, Digital Signage, Digital Menus, Sel ..read more
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Cannabis Retail Analytics and Insights as a Roadmap to Higher Profits
Cova Cannabis Retail Blog
by Roman Shvydun (Guest Blogger)
4M ago
Over the years, politicians, health officials, and enthusiasts have long debated the legalization and commercialization of cannabis. Surely enough, cannabis enthusiasts have continuously pushed for the decriminalization of cannabis so that it can be commercially available for medicinal or recreational use. Consumption aside, people have found great potential in managing and operating cannabis dispensary stores. Despite the risks and roadblocks that the industry still experiences—including cannabis still being federally illegal—there is still a considerable profitable margin awaiting cannabis ..read more
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How to Transition from CBD Store to Recreational Cannabis Dispensary
Cova Cannabis Retail Blog
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4M ago
In the ever-evolving world of cannabis retail, transitions and expansions are common as regulations change and opportunities arise. Many CBD stores are now considering a transition to full-fledged cannabis recreational dispensaries as legalization spreads across the United States. This guide will walk you through the steps, regulations, and considerations in making this transition successful. We'll also delve into specific regulations and opportunities for CBD stores in Minnesota. Understanding the Recreational Cannabis Retail Opportunity  The legalization landscape in the U.S. often sta ..read more
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Cova & Canadian Cannabis Retailers Challenge MasterCard Fees
Cova Cannabis Retail Blog
by Gary Cohen
5M ago
In the rapidly evolving landscape of Canadian cannabis retail, business owners constantly struggle to maintain a competitive edge and protect their slender profit margins. However, there's an added burden that is levied unfairly and applied without cause – the annual $500 special merchant fees imposed by Mastercard on cannabis merchants in Canada. Cova Software, a leading advocate for cannabis retailers, is partnering with the industry to challenge these prohibitory fees administered without fairness and equity. A letter signed by Cova Software, Greenline, Tech POS, Buddi, Retail Cannabis Cou ..read more
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How to Apply for a Cannabis Retail License in 2023
Cova Cannabis Retail Blog
by Gary Cohen
6M ago
In the rapidly evolving landscape of the cannabis industry, the process of applying for a cannabis retail license has seen significant developments and changes. With growing acceptance and evolving cannabis laws and regulations, the opportunities for prospective cannabis dispensary business owners are on the rise. Here's a comprehensive step-by-step guide on how to apply for a cannabis retail license in this dynamic environment. 1. Research Your State's Procedures The first step in securing a cannabis retail license remains the same – you need to familiarize yourself with your state's applica ..read more
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Top 2024 Cannabis Payment Trends Dispensary Owners Must Know
Cova Cannabis Retail Blog
by Guest Blogger
6M ago
With several U.S. states legalizing the use of cannabis, also often called marijuana or weed, there has been an exponential rise in the sale and use of it over the last several years. Despite the rise of the legalization of cannabis use, it remains illegal on a federal level, and thus, there are still many challenges in its procurement, sale, and transactions. In this blog post, we will discuss some facts about cannabis and the digital payment trends and challenges dispensaries and cannabis retail stores still face today. Cannabis Retail: The Legal Landscape Among the first states to legalize ..read more
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