Cannabis companies need to be in Sin City if they have global ambitions, and this one company is dominating the market…
This week for our Cannabis Investor’s Report members, we’re taking a close look at Nevada.
Las Vegas is becoming a premier cannabis tourist destination, and if a marijuana firm has global ambitions, it needs to be in Sin City.
Having said that, there’s a unique company I want to talk about today.
If you’re visiting Vegas and want to check out the local cannabis scene, this should be your first stop.
Aside from having an aerial orb show, an 18-foot outdoor water feature, an LED interactive floor, and interactive laser art, this company strives to provide the best customer service. It’s like walking into an Apple store, as knowledgeable staff is there waiting to help you find exactly what you’re looking for.
If you want a cannabis product that will help you fall asleep or one that will help you feel calm but alert, a staff member will help you figure out the best product for you.
Right now, this company only operates in Las Vegas.
The Winning Vegas Model
Aside from everything I mentioned above, Planet 13 is also working on building a coffee shop, bistro/pizzeria, a customer-facing production facility, and a few more things to draw in a crowd. That’s what really makes Planet 13 much more than a place to just buy cannabis.
In an age where it’s hard to get people to visit a physical store, Planet 13 gives even those who are just mildly curious about cannabis a reason to stop by.
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And even for those who can’t visit the store, this marijuana company has you covered – it also offers a delivery service.
In Planet 13’s most recent earnings report, the company said its “SuperStore” is drawing over 3,000 visitors per day and generating over $5 million a month in revenue.
For Q1 2019, revenue was $13.8 million compared to $3.6 million from the same time a year ago. That’s an increase of 286%. On top of the revenue jump, Planet 13 is also launching its own CBD brand. As you are well aware, this is just another sign we are definitely in the “Year of CBD.”
There’s a lot to like about Planet 13, but again, there’s still some things that are missing. For those with our NICILytics rating tool, you can see exactly where this company stands. If you don’t have it, you can learn more about how to gain access to NICILytics right here.
For members of Cannabis Investor’s Report, I encourage you to check out the June issue if you haven’t already. That’s where I take a deeper dive into Planet 13.
But I wanted to make sure all of our members had this cannabis company on their radar.
Planet 13 is building an impressive business model in one of the most important marijuana markets in the country.
I want you to be watching them as closely as I am.
Executive Director, National Institute for Cannabis Investors
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10 responses to “This Company Is Dominating the Important Nevada Cannabis Market”
June 07 2019