Rise Menu Dispensary (2024)

FAQs

How much should you tip a budtender at a dispensary? ›

When it comes to how much to tip a budtender, the answer is a little more flexible than in other industries. Typically 5%-10% is expected. But if you spent a lot of time with your budtender talking about various plants and products, consider giving a little more to thank them for their efforts.

Flower is the highest grossing item at each of the 13 dispensaries, ranging from 49% of revenue to 81%. Depending on the store, the second highest grossing product is Pre-Rolls, Vapor Pens, and Concentrates.

According to a survey by MJBizDaily, the average dispensary owner makes between $250,000 and $500,000 per year. However, a small percentage of dispensary owners make up to $1,000,000 a year. The average dispensary produces around $2 million in sales yearly with a 12% profit margin.

You should have the right amount of each of flower, pre-rolls, edibles, etc. Yet, within each category, you should be diversifying your selection. A diverse selection within each cannabis category is an excellent way to stand out from other dispensaries as well as draw in new customers.

Tipping is a common practice in dispensaries as budtenders provide a valuable service. If you're unsure about tipping etiquette or don't see a tip jar, don't hesitate to ask your budtender for guidance. Recognizing their expertise and assistance with a tip is appreciated and helps support the staff.

Illegality And Risk

For the big financial institutions, cannabis fits into this type of high-risk category. Recreational marijuana is decriminalized in 18 states, but it is still illegal at the federal level. Therefore, transactions that involve cannabis sales will not be FDIC-insured.

Edibles. If you want a smoke-free way to consume cannabis, edibles are the way to go. Edibles are the most beginner-friendly ways to consume cannabis because of the variety of flavors and various product forms. You can enjoy the effects of cannabis while eating or drinking something delectable.

Since they're more affordable, many dispensaries go through smalls quicker than larger nugs. As such, they're stocked more often and may be fresher than larger flower buds. Additionally, if there's a strain you want to try, but it's always sold out in the larger size, you may be able to find it in “smalls” size.

What is the average budget for cannabis marketing? Generally, brands allocate 3-9% of annual sales to marketing efforts.

What is dispensary cost of goods sold? ›

For dispensaries or resellers, the expenses that may be deducted as COGS include only the invoice price of purchased cannabis, less any trade or other discounts, as well as, transportation and other costs necessary to gain possession of the inventory.

What is Section 280E? Section 280E of the Internal Revenue Code forbids businesses from deducting otherwise ordinary business expenses from gross income associated with the “trafficking” of Schedule I or II substances, as defined by the Controlled Substances Act.

Some digital dispensary marketing ideas include social media accounts, blog posting, and utilizing email and text messaging marketing campaigns. Online dispensary marketing has been proven to be useful for local businesses — increasing their online presence and appealing to a wider range of people.

On average, budtenders can earn tips ranging from $50 to $300 per week. However, exceptional budtenders who consistently provide outstanding service and build strong relationships with customers have reported earning over $500 in tips per week.

For weed delivery recipients, a good rule of thumb should be to tip your delivery guy a minimum of $5, or 15-20% of your total order, when the order amount is above $40. There is some wiggle room here, but we recommend never tip below $5 if you genuinely care and have a good delivery experience.

Work Can Be Stressful When You Have To Multitask

There are a few reasons why multitasking can be so difficult for budtenders. First of all, they are constantly bombarded with questions from customers. While most questions are simple and can be easily answered, some may require more thought and research.

Here are some of the most common duties for a budtender to have: Learning about all of a dispensary's products and their features. Speaking with customers to learn about their cannabis needs and preferences. Providing demonstrations of different products for customers in the store.