One company’s unique approach to building a dominant, national position in cannabis…
When people have extra money to spend, they spend it on time well spent – like memories – and not on more things that ultimately get jammed into the attic.
And this shift in buyer behavior is something forward-looking cannabis companies and entrepreneurs can use to their advantage.
They can focus on tailored experiences.
For many, consuming marijuana is more like sipping a glass of wine or drinking a pint of craft beer then smoking a cigarette. While taking the edge off may be side effect, that experience is always much more enjoyable with company.
And to meet the customer where they want to be, many businesses work to capitalize on cannabis tourism – which is all about the experience.
So far, most attempts at tapping this rich vein of cannabis spending are small, mom-and-pop sized ventures. They are cropping up all over the country, catering to newbies as well as connoisseurs.
No “Staycations” Here
Bud and Breakfast – a Colorado company – works like Airbnb but with a twist. It helps renters find inns, bed and breakfasts, and other types of lodging that allow cannabis consumption. Some even give away cannabis with a room.
All across the country, bus tours that visit dispensaries and grow houses are a common sight.
And Glowing Goddess Getaway, a women-only social club, arranges gatherings bringing women and cannabis together for weekend retreats.
These small ventures add up. For the five-year stretch ending in 2018, one out of every four people who traveled to Colorado listed cannabis as a reason for their visit. So when you look at the nearly $7 billion in marijuana sales that were rung up in the state over that time, a big chunk of that is thanks to tourists.
And now that Colorado has updated how it handles cannabis licenses, more public companies can profit from those sales.
But in Nevada, one company has a plan to tap the tourism vein across the U.S.
A Retreat in Every City
The cannabis company I’m talking about isn’t building just another retail outlet. It’s taking an entirely different tack.
Its flagship store is more of an oasis than an outlet. It’s one where patrons can soak in a totally new environment to enjoy the taste of a different lifestyle.
The result is thousands of people per day cross the threshold to sample this life.
And they set up shop in Las Vegas, one of the premier tourist destinations in the world that welcomes over 42 million visitors per year.
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With just a short walk from the casinos, resort hotels, shows and title fights – or an even shorter Uber ride – those visitors can step away from the lights and slot machines for a short while and be transported to a rich experience that incorporates far more than just cannabis.
You see, the founders knew this wasn’t Field of Dreams.
They couldn’t just build it and cannabis enthusiasts would mob the dispensary.
From what the company executives have shared with me, any city that can host an NFL team has both a large population of affluent locals as well as tourists who can afford to splurge on a pricey, temporary retreat.
I recently recommended this company’s stock to subscribers of my Cannabis Investor’s Report. Its Vegas site is pulling in over $5 million a month, accounting for 10% of the entire Nevada cannabis market, and I expect revenues to quickly run past $80 million per year.
Current members can access my trade instructions here.
And they just closed a deal on their first expansion into a different state.
Its new operation is in a plain business district that you wouldn’t think twice about if you drove past it.
But don’t let that fool you; it’s a short drive from some of the wealthiest cities in America.
Head down the road – 10 miles to the east and a little bit north – and you’ll run into a destination that pulls in 52 million visitors per year.
Three miles in the opposite direction, and you hit one of the highest end shopping malls in the country; a scene that pulls in 24 million of the region’s wealthiest spenders. Go on just a little further, and you’re on the beach, nestled alongside the Pacific Ocean.
The stock price for this company pulled back over the summer, along with most other cannabis stocks.
But I don’t expect the price to stay this low for long, because no other company has the vision and resources to capitalize on the booming demand for a complete “cannabis experience.”
Executive Director, National Institute for Cannabis Investors
P.S. Cannabis tourism isn’t the only sector of the industry experiencing major growth. In fact, our experts have identified one market niche that’s on track to grow 15 times faster than the overall cannabis industry. Sales in this industry are even projected to hit $22 BILLION in the next 12-36 months… and we’ve identified a way for you to get started for under $3. To learn more, go here now.
2 responses to “The Startup Cannabis Company Giving Consumers What They Want”
September 16 2019