To generate the big bucks, you have to be everywhere your customers are…

Planet 13 Holdings Inc. (OTC: PLNHF) has worked hard to turn its Las Vegas SuperStore into not just a dispensary, but a destination.

It’s a 24-hour theme park with light shows, LED murals and, with its Phase 2 expansion, you can grab a slice of pizza or a cup of coffee while you’re there.

Planet 13’s Phase 2 Bistro/Pizzeria Expansion
Source: Planet 13LasVegas.com

It also has every cannabis product you could ever want, from chocolate edibles to vapes. It even has a delivery service.

Planet 13 picked the Vegas tourist lane and has done well, with over 1 million visitors per year. But with full cannabis legalization just on the horizon, becoming a multi-state operator (MSO) is more important than ever.

And that’s exactly why Planet 13 is expanding its empire to this other tourist-friendly state…

Selling Cannabis in the Golden State

California is the biggest cannabis market in the United States, and that’s the next part of the country Planet 13 wants to conquer.

Back in June 2019, it acquired a dispensary license and lease in the town of Santa Ana. This is a prime location, as it’s just a stone’s throw away from Huntington Beach, a 40-minute ride from Long Beach, and less than 50 minutes from Los Angeles (which might be a little optimistic considering the traffic in LA, but you get the point).

Planet 13 believes that if it has a proven business model in one state, it can replicate that throughout the country. And if you’ve ever visited Planet 13, you know why it has become such a hot tourist destination.

Just check out their grand opening video to see what we mean.

Editor’s Note: Find out how Planet 13 stacks up against other major Vegas dispensaries in this special analysis available to our Lifetime NICI Membership subscribers. If you’re not yet a Lifetime member, what’s stopping you? You can gain full access to this and hundreds of other expert analyses, the most comprehensive database of cannabis stocks on the planet, exclusive interviews with the industry’s leading experts, and so much more. Just click here to get started.

The reason Planet 13 is making the move to California is that being a multi-state operator is the key to building an empire. Just look at Starbucks.

Whether Executive Director Don Yocham is in Miami rubbing elbows with top executives or catching up with cannabis law expert Joshua Sanderlin in Baltimore, when he stops in Starbucks to pick up a cold brew in either city, he knows it’s going to always taste the same.

Look, you can carve out a nice living as a mom-and-pop shop or a specialty player. And there are niche investment opportunities out there.

But like we said, if you’re going to build an empire, you need to be national.

If a tourist in Vegas picks up a product, they want to find that same product and brand in their local dispensary in California. The same will be true when cannabis is fully legal across the country. Someone visiting Colorado from Kentucky will want to find the same brands and the same products in the Bluegrass State.

You have to be everywhere a potential customer is, and that’s why expansion is so important right now.

The ones doing it right will be long-term winners.

We recently teamed up with Joe Montana to bring you three need-to-know considerations before you invest a single penny in cannabis. Learn all about them right here.

Now, a key part of that expansion is also building a brand. You can sell products in every state you want, but if you don’t stick out in the crowd, you won’t make any money.

Tomorrow, we’ll have a snippet of a special interview from Don that we want to share with you about another key to success in this industry – branding.

Until then, you can learn more about how branding helps separate the winners from the wannabes in our free premium report, The Billion-Dollar Branding Opportunity in Cannabis.

Take care,


Comments

One response to “Why Expansion Is the Key to Success in This Industry”

  1. I am glad this nation is finally waking up to the product that God gave us all just a little plants could save so many lives and helped so many people but it seems like this is not the United States no more this is just a few States United in this venture back in the 80s I was in the Virginia chapter of N. O. R. M. A. L. I took the heat back then lunch time to go with the flow and I am ready to invest thank you very much for your information hope to hear more truly yours Terry Lee

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