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Maximize Your Purchasing Power with LeafLink’s Evaluation Criteria for New Brands and Products

Whether or not you have it formally laid out, chances are that you are already using a set of criteria to evaluate every product that comes into your store.

We’ve compiled a list of the most popular criteria we heard from our customers. This can be used as a checklist, a set of questions to ask prospective vendors, or simply a discussion guide for your team as you consider bringing a new brand or product into your store.

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Compliance

Verifying brand compliance to regulations in your market is essential to ensure legal compliance, maintain consumer trust, and safeguard the reputation of your dispensary.

This is especially important to ask in newer markets where emerging brands may not be familiar with the ins and outs of regulation.

Does the brand provide lab testing?

Is packaging compliant?

Does this brand meet all other regulations?

Vendor Reputation

Today, consumers consider branding along with product specific details in their purchase decisions.

This category is a mix of qualitative and quantitative factors that build a brand’s reputation.

Have you ever heard of this brand?

Have you seen this brand in other states?

Does the brand have a good Instagram and marketing presence?

Do other dispensaries carry this brand or product type?

Is this brand in any industry rankings? (Ex: LeafLink Buyer Metrics, LeafLink List)

Does this brand align with your store’s mission (e.g. minority owned, social equity)

Price

In a constrained macroeconomic environment, end consumers are more likely to be price conscious - and you should be too.

Sometimes vendors can be flexible with pricing and you can negotiate on their initial proposal.

Based on the product category and your knowledge of the market, does this price make sense?

Would you be able to make a profit?

Would your average consumer pay this much money for this product?

Does pricing match the ‘quality’ of the product? For a premium product, pricing may be higher.

Do they offer volume discounts?

Check out LeafLink's Wholesale Cannabis Pricing Guide for market and pricing insights.

Size & Minimum Order Requirements

For smaller operations with less room for storage, vendors with large packaging and higher order requirements may not be a fit.

Is the packaging unnecessarily large for the product type?

Is the minimum order requirement prohibitively high?

Product Experience & Effect

Strain and THC percentage are the top two most important factors when purchasing

You can refer to mandated lab testing for THC percentage, but first hand experience of products will give you confidence in determining the desired effect of the product.

Can the vendor provide as many samples as you need?

How long did it take you to consume the product?

How easy was the product to use?

Branding

As cannabis retailers build their own consumer brand, it’s important to consider whether the products in a store fit that look and feel.

Does the vendor’s branding match the demographic, look, and feel of your store?

Is the vendor insistent on in-store marketing? If so, does it work with your aesthetic?

Does the brand invest in consumer facing advertising?

Delivery

Taking control of your delivery requirements can save a lot of time during the week.

Can a vendor work within your delivery windows?

Can a vendor meet your shipping requirements?

Payment Terms

The cannabis industry is moving away from handshake and cash agreements.

Finding vendors with payment terms that work for you is key to a successful relationship.

Does the vendor have terms that work for your business? (Ex: Net 15, Net 30)

Does the vendor use LeafLink payments?

Operational Considerations

Before bringing in a new vendor, there are some operational things you’re better off knowing early on.

What is the vendor’s production capacity? If you have a large retail operation, will the brand be able to meet demand?

Does the brand respond to and fulfill orders in a timely and consistent manner?

Will you have a dedicated representative to answer questions?

NY Checklist

Your LeafLink Resource Guide

Have a question? Check out our Knowledge Center for the answer!

Learn how to message brands on LeafLink here

Read our New York blog

Get more information on purchasing from certified sellers here

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© 2021 LeafLink, Inc. • LEAFLINK® is a registered trademark of LeafLink, Inc

Privacy • Terms & Conditions • Disclaimer

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