Culture
5 Tips for Owning and Operating Successful Cannabis Dispensaries
The cannabis retail landscape has changed. Once regarded as somewhat of a novelty, legalization has allowed cannabis dispensaries to evolve into modern and innovative retail storefronts more akin to an Apple Store than the dark, secretive spaces they used to be. Some, like Shiny Bud, are proving to be leaders in the space, setting an exemplary standard of a contemporary cannabis retail experience.
Shiny Bud is one of Canada’s most successful dispensary chains. They pride themselves on offering customers a premium experience from the moment they enter, from a contemporary and inviting store design to highly trained staff, and of course, premium products.
Co-founder Alex Ledesma joined the cannabis industry when the Canadian government passed the Cannabis Act in 2018. She comes from a forward-thinking family of entrepreneurs, so the move to cannabis was an obvious next step.
“I saw an opportunity to be part of something big in Canada’s history, so we started following the industry, and applied for an application,” said Ledesma.
Shiny Bud opened its first dispensary in Toronto on February 14. Fast forward only a few months, and the company has opened the doors to its fifth location in a small town called Orleans, just outside of Ottawa.
“We have a pretty aggressive rollout,” said Ledesma. “Coming from a quick-service industry, we’re quite comfortable with builds and finding locations. We took our expertise from that and put it into cannabis. And it’s all completely within the family.”
Shiny Bud was awarded 75 dispensary licenses by the Canadian government. The company’s expansion plans include two more Ontario store openings this year, bringing the total number of store openings to seven. And they have no plans to slow down.
“We should be hitting 30 stores by the end of 2021. And we’re planning on maxing out to 75 stores allocated. When we stop to think about it, it can take our breath away.”
The constant march forward of legalization has created an ever-growing interest in dispensary ownership. Below, Ledesma offers up five pieces of advice for those looking to enter the cannabis game.
1. Have a Well-Trained Team That’s Focused on Customer Experience
As the industry is still so young, formal education in cannabis is still relatively scarce amongst prospective employees. For Shiny Bud, this presents an opportunity to reinforce one of their most important business objectives: provide cannabis education and training for their budtenders to pass on to their customers.
“Education is everything because the industry’s so new,” Ledesma said. “We truly believe that we’re an industry where we need to listen to our guests. This is one of the first things we teach our budtenders, along with providing a safe and educational experience for our customers in-store.”
For many customers, the biggest value in going to a dispensary is learning which products are best suited for a specific condition or effect, whether they’re seasoned cannabis consumers or newly curious.
“The goal for budtenders at Shiny Bud is to ensure customers are choosing the right product for them to provide a safe experience both in-store and at home,” Ledesma said.
2. Create a Guest Centric Environment
This goes without saying, but customer service is critical to the success of any retail operation. Ledesma attributes Shiny Bud’s success to the brand’s core vision of providing a “fast and friendly cannabis retail destination.”
“We strive to offer our customers a unique and memorable experience — this has stayed with us since day one,” Ledesma said. “When you walk into any of our Shiny Bud cannabis dispensaries, they’re bright, they’re big, and there’s a lot of education. The budtenders are dressed uniformly, and there’s personality — it’s not what people expect.”
Watching the change in customer demographic has been encouraging to Ledesma, who notes the increase in the 60+ demographic looking to add cannabis to their health and wellness, whether it be recreational, or to aid with a specific ailment.
“As a disclaimer, we always have to tell them that we’re not doctors and we can’t give them medical advice, so to start low and go slow,” Ledesma said. “It’s nice to see people like my mom, my dad, and grandparents come through the door, because you also know you’re helping break down the stigma.”
3. Stock the Best Inventory
With so many quality products now available, choosing which ones to bring to Shiny Bud is quite a lengthy process.
“We carry out a lot of research in terms of what’s new or trending, and what our customers are looking for in each location,” Ledesma said. “I wish I knew consumers’ buying preferences before our initial order was placed. We ended up buying too much!”
“We also use recommendations from our team members, our budtenders, and our customers. A lot of times we bring in representatives of the licensed producers to educate our budtenders about the products we’re selling.”
The three most popular purchases across three Shiny Bud locations are dried flower, vapes, and pre-rolls. “Our most frequently asked question is, ‘what is your highest THC or CBD?’” Ledesma said.
4. Have a Great Location
The age-old proverb of “location, location, location” rings true in the cannabis industry, too. Finding the right real estate is arguably the most important part of retail success. Plus, because of the industry’s prohibition history and the nature of the products being sold, it’s important to find understanding landlords.
“Initially, landlords have said to us, ‘absolutely not, we will not entertain the idea of having a cannabis retailer here,’ so I invite them to take a look at one of our dispensaries so they can see the vision of what and who we are as a company and as an industry.”
5. Ensure Your Cannabis Dispensaries Connect with the Community
Dispensaries are already major focal points in their communities. For Ledesma, giving back and helping break down old stigmas related to cannabis is a top priority.
Shiny Bud is in the process of launching a collaboration with Tsaichedelic to create a line of tie-dyed tees and other merchandise. The proceeds will go towards supporting Cannabis Amnesty projects, like providing legal counsel to get those with criminal records over minor cannabis charges expunged.
“Being a woman and a person of color in the cannabis space, I really believe in the fact that it needs to be the same playing fields for everybody,” Ledesma said. “Teaming up with Cannabis Amnesty just felt right.”
With the regulated cannabis market still so new, it’s important that business owners are able to adapt to changes and weather the ever-changing landscape of cannabis and the regulations.
“It’s ever-changing, so we’re constantly learning and growing from it,” Ledesma said. “Regulations are always changing, so being fluid helps a lot.”
Look for Shiny Bud cannabis dispensaries in Canada and keep an eye out for their expansion into America in 2021.
Culture
No Super Bowl for Brock Ollie
Culture
Kate Hudson Gets High for the Holidaze In Cannabis Cocktail Commercial
Kate Hudson stars in an ad for Cann beverages—the first time an A-lister has been the face of a weed brand in a mainstream commercial.
Culture
Green Street Festival: The World’s Best Cannabis, Food & Music All In One Place
On May 13-14, Green Street Festival will bring the city’s top restaurants, the state’s leading cannabis brands, and the world’s top entertainers to celebrate the cannabis community. The event marks a historic moment: Los Angeles opening its doors to consumer cannabis events.
This year, the event is partnering with the Emerald Cup to bring the 18th annual cannabis competition to Downtown LA. Industry thought leaders and a roll call of who’s who of the cannabis industry and culture will judge the very best from a list of categories.
Rama Mayo, founder and creator of Green Street Festival says the partnership is a convergence of two massive powerhouse entities in the culture of cannabism and the heritage and community of the Emerald Cup will enhance the Green Street experience.
“Cannabis will always be the headliner,” Mayo said in a press release. “There is no greater recognized symbol of excellence in the weed nation than the Emerald Cup Awards and we are thrilled to share the stage at our inaugural event with them in this partnership. Gary, our team, and I could not be more proud to partner with their organization as we bring the best cannabis, food, and music to one place.”
Emerald Cup founder and author, Tim Blake is absolutely thrilled to join the Green Street Festival and lift the awards to the stage of the largest cannabis market in the world, and be a part of this historic moment for Los Angeles.
“This triumphant return of our annual live awards show is our first entrance to Los Angeles and we could not have chosen better partners for this debut,” Blake said. “Rama and his team at Green Street have created a powerful ecosystem and they’ve done a wonderful job in creating a platform of engagement for us to shine. We’re eager to unify our northern and southern communities as we raise the Cup and recognize the best of California Cannabis.”
The ‘Academy Awards of Cannabis’
The California cannabis market is stronger when united and the 2022 Emerald Cup Awards will bridge the gap between the NorCal and SoCal markets, providing more opportunities for farmers and brands and new options for consumers.
The panels include a diverse cast of leading experts, journalists, scientists, activists, celebrities, and cannabis aficionados. Globally recognized as the “Academy Awards of Cannabis,” judges are exclusively hand-selected to test out a variety of cannabis products created by California’s best cultivators, extractors, and movers and shakers, looking to be crowned best in class in their respective categories. This years’ categories include flower, pre-rolls, solventless concentrates, hydrocarbon, cartridges, edibles, alternative cannabinoids, tinctures, and topicals. Additionally, the judges will be looking for winners for other categories including the most innovative product, eco-conscious packaging, and cannabis photography.
The competition entry window is currently open and the application deadline has been extended to Friday, February 11, 2022, at 4:00 pm PST. A full spectrum of cannabis excellence will be chosen based on specific criteria including the smell, taste, look, and the high, carefully judged under strict discretion.
Green Street Festival Lineup
The brainchild of Gary Vaynerchuk & Rama Mayo, Green Street Festival expects over 7,000 attendees with special performances by Juicy J & Friends, Gary Vaynerchuk, Harry Mack (Live) and many more to be announced.
Day one of the fest is a VIP event at the Green Street Building, a 67,000 sq ft cannabis business epicenter complete with a once-in-a-lifetime performance with Harry Mack and Gary Vaynerchuk.
Day two of the festival is at a historic outdoor venue in Downtown Los Angeles featuring a Keynote from Gary Vaynerchuk, plus an incredibly special performance lead by Grammy and Academy Award-winning artist Juicy J. Exclusive food offerings will be available from the city’s best restaurants & chefs including Yeastie Boys, Afters Ice Cream, Gusto Green, Petite Peso, Broad Street Oyster Co., Shrimp Daddy, and Uncle Paulie’s Deli. Contemporary artist Cody Hudson created and established the visual identity of the festival.
Tickets for this inaugural event on May 13th & 14th are available now at GreenStreetFest.com.
-
Culture2 weeks agoCreator of Jelly Belly Has Developed CBD Jelly Beans
-
Fashion2 weeks agoMary Jane Swim Will Keep You Cool, Even When It’s Hot
-
Cannabis2 weeks agoWizard Stones: The Magic of Making Cannabis Diamonds
-
Sports2 weeks agoKobe Bryant: Tragic End to a Legendary Life
-
Cannabis2 weeks ago10 Couch-Lock Cannabis Strains to Help You Stay Home
-
Sports2 weeks ago20 Athletes Who Advocate for the Use of Cannabis in Sports
-
Cannabis2 weeks agoCBG: The Cannabinoid With Significant Health & Lifestyle Benefits
-
Cannabis2 weeks agoDelta 3 Carene: The Terpene That Promotes Healthy Bones (& Dry Mouth)