Monday, August 25, 2014

The next Generation of Retailers

Last Saturday, I got a golden ticket from Green Star Cannabis in Spokane. It allowed me to cut to the front of the line. I had to check it out. My wife and I jumped in our car and drove from Wenatchee to Spokane. What would make me drive 170 miles, when there is a retail shop across the river? This is what I found.
The owner is an active participant in building industry. He worked with the LCB throughout the entire process. He hand-picked his staff of bud tenders for their skills. He picked a clever location. He worked with insurers, producers, processer and the medical side. He designed the entire shopping experience for the customer.
Some of the examples:
1. The store is located at 1403 N Division Street. It is in a little mall setting with a Pizza Pipeline and a Krav Maga studio. Yes, it is with in hopping distance of munchies supplies.
2. The store has a very open floor structure with plenty of staff on the floor. We were able to get one on one service. All of the Cannabis supplies are kept behind a locked cage. This keeps his staff safe from any type of smash and grabs. As an insurance guy this makes me doubly happy.
3. While I was there the owner had a local producer stop by. The grower is months away from starting however they maintain a positive relationship. He is moving from cash only to business standards of invoices and purchase orders. The producer understood how to set price based on cost of goods instead of picking a random number.
4. Price is why he wins. He was the first one that I saw with $12 a gram. It was such a price that we went had lunch and came back. This was a mid range THC at about 1/2 the cost of other stores that I have seen. How was he able to do what everyone said was months away?

It is real simple. The owner is a professional that surrounds himself with other professionals and is growing the industry. He could be running a cheese store and his business principles would carry through and make him successful. If you want to see a successful shop up and running then Green Star in Spokane is where you want to be.

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