5 Ways To Make Your Hemp Business More Profitable
As a Hemp or CBD business owner, you’ve likely encountered a few hurdles in establishing your business—reliably taking payments, gaining more customers, and managing your inventory. However, not all hope is lost!
Clearent, a leading full-service payment solutions provider, has developed a new point of sale solution called Xplor Pay Point of Sale. It comes equipped with our secure payment processing technology and a host of features designed to make running your business easier.
Want to learn more? Read on to discover how this comprehensive solution can help make your Hemp/CBD business become more efficient and profitable.
Discover the key ways that Xplor Pay POS & our reliable payment processing technology can help your business thrive.
#1: Seamlessly Accept Payments in a Variety of Ways
In addition to seamlessly accepting payments, a POS system should also help you expand your reach by selling through multiple channels. With multiple ways to receive income, Xplor Pay POS allows Hemp or CBD retailers to sell goods in-store, online, and at events—securely and reliably.
#2: Create Connections with New & Recurring Customers
We like to think that payment processors shouldn’t stop at receiving and managing money. That’s why we offer Xplor Pay POS. This solution reaches beyond traditional payment processing and enhances other areas of the purchasing journey, like customer loyalty. With promotional and loyalty programs and the ability to securely accept recurring payments in Xplor Pay POS, you can easily build lasting communities of repeat buyers.
#3: Efficiently Manage the Day to Day
You need business management software that allows you to streamline your operations, increase revenue, and reach more customers today—and into the future—as your business grows. That’s why the powerful business software that’s included with Xplor Pay POS can help you manage rotating inventory by making it easier to monitor products with a limited shelf life. And when it comes to the orders themselves, you can view order history by date, order type, tender type, customer name, customer email, or ticket number—and even assign a customer’s name or phone number to their order for easy reordering.
Xplor Pay POS system also provides real-time analytics, which automatically update throughout your business day with a real-time matrix – wherever you are, right when it happens. Scheduling, time, and attendance are also so much easier. Create and send employee schedules, view scheduled hourly costs per employee, and more—plus, download the time and pay report CSV file for payroll submission.
#4: Accept Payments Without Interruptions
When you sell CBD-related products, you need peace of mind when it comes to accepting payments. Unfortunately, it’s common for Hemp/CBD merchant accounts to be subject to a freeze, hold, or termination, which can greatly disrupt cash flow. When the processor discovers that the business sells products outside of their typical risk profile or sells more of them than they originally thought, the business can be shut down immediately. There are also fines that originate with the card brands and are passed down to the sponsor bank and the processor, and which ultimately trickle down to the business owner.
By having a partner that is well-versed in hemp regulations, you can have peace of mind when it comes to accepting payments.
#5: Improve Cash Flow
Cash flow is a real struggle for businesses that sell CBD-related products. That’s why we’ve incorporated programs into our system that help business owners offset their costs by sharing credit card processing fees with their customers, which can be a total game-changer.
For instance, with our Empower, our Cash Discount, and Surcharging Program, you can offset your credit card processing fees by passing along up to 95% of your processing costs to your customers. This results in real profits that can be reinvested back into your business to help it grow.
It’s time for the CBD & Hemp market to operate the way other markets do – efficiently and profitably!
Clearent helps Hemp and CBD businesses sell, manage, and promote products in a way that helps you remain compliant so you can worry less and focus more on growing your business and your bottom line. Now that you’ve read more about our solution, we’d love for you to see it in action. To book a demo, fill out the form below!
Let's Make Your CBD Business More Profitable!
Fill out the form below to book a quick Xplor Pay POS demo.