The cannabis industry in Oklahoma is booming. Yes, the contentious plant for which users were recently prosecuted is on the rise. You could even call it a cannabis craze.
In this article, we’ll go over how to create a dispensary, as well as how to get a license and what laws you should be aware of. We’ll also go through how to set up your dispensary’s software and operations! Let’s get started!
What are the requirements for opening a dispensary in Oklahoma?
If you fill out an application form and follow the Oklahoma Medical Marijuana Authority’s rules, the process of starting a dispensary should go smoothly. Despite the fact that the costs of opening a cannabis dispensary in Oklahoma are substantially lower than in other states, it is necessary to have accurate information and to evaluate some of the most important legal restrictions.
To begin, you must be at least 25 years old before learning how to create a dispensary in Oklahoma for business purposes. You should also have the following items on hand:
Proof of Oklahoma residency is required.
A tax identification number, as well as a general business license, are required.
Documents of identification that are valid
After you’ve put everything in place, you’ll need to evaluate your commitment. Not only do you need to be aware of current cannabis production and sales restrictions, but you also need to be aware of proposed legislation and amendments that could be implemented soon.
Now that you’ve decided you’re ready to make the big move, the following step is to select a suitable property.
Take a look at the following:
- The price of rent
- Licensing fees
- Fee for submitting an application for a license
- Salary of employees
- Product security during transportation and storage
In Oklahoma, how do you receive a dispensary license?
Grower licenses in Oklahoma are granted in the form of a certificate and are available on the OMMA website. Producers, processors, and dispensaries must pay $2,500 to apply for a license. To apply, you must submit the following information:
- A business plan is a document that describes a company’
- A financial strategy
- A plan for inventory management
- Patient education is important.
- Keeping track of things
- Plans for security
Every state in the United States has its own set of rules for opening dispensaries. Each state establishes its own set of rules. You’ll need to familiarize yourself with Oklahoma’s rules.
In order to start a dispensary in Oklahoma, you must first complete marijuana dispensing training and obtain a license.
In Oklahoma, here’s how to keep your dispensary compliant.
To keep your dispensary compliant, you must follow all of Oklahoma’s severe marijuana regulations. These are some of them:
- Meeting Metrc’s requirements
- Working under the auspices of a well-known license
- Using compliance software as a resource
- Consider hiring a compliance officer.
In Oklahoma, marijuana shops are not allowed to sell more than the following amounts in a single transaction:
Three ounces of marijuana
One ounce of cannabis concentrate equals 72 ounces of cannabis
Owners of marijuana dispensaries in Oklahoma, like any other legitimate business, must pay taxes and provide the following information:
- All cannabis-related data is shared with other licensed businesses.
- Batch numbers are used to show the weight of cannabis purchased at wholesale.
- The number of plants that have been given permission to be relocated to new places.
- Records of all things that have become obsolete, including batch numbers that show the weight of cannabis sold
Noncompliance is punishable by hefty fines. A first offense will result in a $5,000 fine, while a second offense will result in license revocation. As a result, you will require the support of technology to immediately inform you if the OMMA cannabis rules change.
Metrc in Oklahoma: What You Need to Know.
Metrc is an integrated real-time tracking and tracing solution for marijuana goods. Licensees apply a unique identifier on each plant and its wholesale shipment. These tags use legible text, barcodes, and radio frequency identification (RFID) chips to identify each plant individually.
Following the legalization of marijuana in Oklahoma, Metrc is already in use. Only until inventory has been placed into Metrc by a commercial licensee can the OMMA see and track it.
To get started with Metrc in Oklahoma, you’ll need to do the following:
- I’m going to watch their training videos and make a training regimen.
- Request online access and work with your Metrc Account Manager to complete the New Business System Metrc training.
- Connect all of your employees to Metrc and ensure that they have the permissions they require to do their duties.
- Request Metrc plant tags, package tags, and other UID tags, and keep track of when they arrive in the mail.
- Assign UID tags to your marijuana products.
- For correct criteria and references to other crucial aspects, consult the Beginning Inventory Guide in Metrc.
What are Oklahoma’s dispensary laws?
Oklahoma cannabis laws are the rules that every cannabis dispensary must follow while administering medical marijuana. These are the same rules that every prospective cannabis merchant must follow, and it’s one of the first things you’ll learn when learning how to run a dispensary in Oklahoma.
These are some of the rules:
- You’ll need a state-issued license to legally sell cannabis, but CBD oil manufactured from industrial hemp is legal without one.
- To get and consume medicinal cannabis, patients must first obtain a valid medical marijuana card.
- Possession of paraphernalia is a misdemeanor punishable by up to one year in prison and a $1,000 fine.=
- Individuals under the age of 18 are only permitted to attend a dispensary with a valid medical card if accompanied by an adult.
- Selling less than 25 pounds of marijuana is a crime punishable by up to two years in jail and a $20,000 fine.
In Oklahoma, who can your dispensary sell to?
At an Oklahoma dispensary, only medical cannabis patients (or their caregivers) with valid patient permits are allowed to shop. Oklahoma residents over the age of 18 who have a physician’s recommendation can use medical cannabis.
To verify a patient or caregiver, the state’s database or a physical medical marijuana ID card can be employed. Medical marijuana cannot be purchased from licensed dispensaries by out-of-state individuals or businesses. Licensed processors and licensed dispensaries are allowed to sell to each other.
The size and potential of the Oklahoma dispensary market.
Despite its achievements, Oklahoma’s cannabis sector is still in its infancy, and the landscape is fast evolving. The state’s marijuana rules are constantly shifting to make it more accessible.
Another aspect that sets Oklahoma apart from other states is that it allows cannabis smoking and vaping anyplace tobacco is legal, such as on the sidewalk or in a smoking establishment.
As a result, Oklahoma has evolved into an industrial cannabis state with a diverse selection of dispensaries.
Only a few obstacles must be overcome. Anyone who pays $2,500 for a dispensary license can sell any type of cannabis, from raw flowers to topical lotions, oils and gels to vaporization and patches.
In many states, marijuana legalization has resulted in a huge increase in legal cannabis cultivation and distribution, as well as an explosion of related service providers. For many residents in the state, cannabis has become a lucrative business opportunity.
To establish a dispensary, what cannabis software do I need?
You’ll need the following business software to manage a compliant dispensary in Oklahoma:
- A compliant point-of-sale system
- Software for time management and scheduling
- HR software Payroll software for pharmacies
- Security system for a website Inventory management software
What features should I look for in marijuana software?
System that complies with POS requirements.
A point-of-sale system is one of the most critical technologies in a dispensary. A compliant POS system will simplify sales transactions for your dispensary’s personnel and provide customers with the most payment alternatives. The following tasks can be aided by a POS:
- Control inventories and ensure legal compliance.
- Manage customer check-in and make sure your clients adhere to the daily sales monitoring requirements.
- Assists you in rejecting transactions from persons who aren’t authorized to buy.
- Keep you compliant by integrating with the Metrc system.
- Integrate with your personnel management software to provide sales data.
- Provide labor projections for scheduling by integrating with your scheduling program.
- Prepare all sales and client reports for cannabis authorities’ clearance.
- Payroll software for dispensaries.
Payroll software for dispensaries that is integrated can help you manage your employees’ salary. It keeps track of all expenses and connects to other systems like payroll tax deductions and personnel administration. It pays employees via direct deposit and makes direct donations to the IRS.
Another advantage of adopting an integrated payroll system is that you can integrate your payroll with the rest of your workforce management suite, allowing you to accomplish operations such as approving clocked hours to payroll and running payroll with a single click. Dispensaries that utilize this type of system claim to save 5 hours each week on payroll processing.
Software for time management and scheduling.
Integrated scheduling and time tracking software, sometimes known as workforce management software, automates the process of producing staff schedules and controlling employee hours. You may build schedules remotely with this program, and employees can request shift swaps or time off. With time tracking, employees may sign in using facial recognition technology, and staff-approved hours can be simplified to payroll, allowing employees to get paid with a single click.
HR software for pharmacies.
Recruiting, hiring, interviewing, and onboarding are all time-consuming processes. Especially when employees have critical documents to sign and criminal background checks to complete. You can automate recruiting and onboarding with dispensary HR software by having employees self-onboard and sign electronic paperwork.
There is a security system.
To guarantee that your dispensary remains compliant, a solid security software system with cameras to monitor what takes on inside and outside your dispensary should be paramount. You’ll need a system that allows you to keep track of all of your dispensaries’ activities in one place without having to be in multiple locations at the same time.
Software for inventory management.
You’ll need software to help you manage your inventory, as well as the process of placing orders and getting inventory counts from vendors. You’ll also need a system that notifies you when fresh orders are required when product shortages are detected.
If your state enables dispensaries to sell products online, a website should be a major focus if you want to compete for top ranks in today’s market. You may now start an e-store where clients can buy cannabis online and have it delivered to their doorsteps thanks to technology improvements.
To ensure that you’re following the cannabis serving standards, your website should be able to collect KYC information from your customers to verify their identities and eligibility to purchase cannabis products. You’ll be breaking the rules governing cannabis consumption if you send a cannabis product to someone who isn’t eligible for it, and this might be a significant risk for your new firm.
Metrc (Marijuana Enforcement Tracking Reporting Compliance) is a regulatory compliance system designed to track cannabis cultivation, processing, and packing. Metrc is a database that tracks cannabis from seed to sale and uses RFID tags to identify it.
To operate a compliant dispensary in Oklahoma, you must submit data to Metrc. Reporting to Metrc can be done manually, however some cannabis-specific POS systems include a Metrc integration, which means it will be done automatically as you sell your product.
Is there anything more I should know?
The rest is up to you now that we’ve covered all of the technical and operational bases.
Other important aspects of starting an online dispensary include deciding where you want your store to be, what your brand value and vibe will be, and how your product and store will look.
Marketing, as well as employee training and business culture, should all be taken into account.
Many new cannabis business owners engage advisors to assist them in navigating these waters.
For the time being, we hope this has been a useful starting point.