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Completing an annual operations review and plan early in the year, allows cannabis retailers to identify compliance risks, operational problems, and opportunities to improve sales revenue. Many retailers choose to work with a cannabis license consultant, such as Thrive Liquor & Cannabis Advisors, who can provide an objective view and identify compliance, operational, and performance priorities.
Below is a practical annual planning checklist for Canadian cannabis retailers.
Update Store Policies & Procedures
Review and update policies and procedures.
Look at the following:
- Age verification, ID checking procedures
- Required safe service training certifications
- Compliance training for new hires
- Incident reporting procedures
- Product storage, security, and handling
- Opening and closing checklists
Clearly written policies, procedures and new hire training are the backbone of compliance.
Evaluate Staffing & Training Needs
Staff performance directly affects sales revenue, customer experience and compliance.
Evaluate these areas:
- Staffing levels and seasonal coverage
- Turnover trends and supervision challenges
- Product knowledge
- Customer service
- Roles and duties of all sales associates and supervisors
Assess Inventory & Product Mix
Review SKU performance and category trends to ensure purchasing decisions are based on data rather than habit.
Look for:
- SKUs that are consistent top sellers
- SKUs that sell slowly, expire, or require repeated markdowns
- Product categories that generate the strongest overall sales
- Product categories that underperform relative to shelf space used
- Products customers regularly ask for but are often unavailable
- Emerging or trending products
Review Store Layout, Displays & Customer Flow
Your store layout plays a vital role in how customers find products, how long they spend browsing, and even how much they spend.
Consider the following:
- Placement and visibility of product cases and display units
- Whether popular product categories are easy for customers to find
- Customer flow from the store entrance to point of sale
- Opportunities to refresh displays or rotate featured products
- Point-of-sale product displays
- Signage efficacy
Thoughtful layout adjustments can improve the customer experience and increase sales.
Review Common Sources of Compliance Issues
Review the areas most often examined during inspection by regulators. It’s recommended that retailers work with a cannabis licensing consultant, because they have thorough knowledge of licensing requirements, terms and conditions.
- Age verification practices
- Responsible selling and prohibited sales
- Staff certification and documented training
- Secure storage and restricted area access
- Sales, inventory, and incident record accuracy
- Security practices
- Use of approved floor plans and licensed space only
- Sale of permitted products and accessories
- Website, delivery and pick-up compliance
Review Record Keeping & Reporting Procedures
Accurate records protect your business during inspections and audits.
Check the following:
- Procedures for daily sales and inventory reconciliation
- Secure storage for required records
- Clearly defined reporting and documentation
Get an Actionable Plan from a Canadian Cannabis License Consultant
Thrive Liquor & Cannabis Advisors supports cannabis retailers in western Canada and Ontario. Whether you need help with annual planning, a cannabis license application or operational guidance, we can help. Learn more about cannabis store licensing.
