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Listen now to a snippet of “Emjay CEO Reveals A Surprising New Approach To Cannabis Delivery” from CannaInsider. Advantages of owning your own supply chain.
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Listen now to a snippet of “Emjay CEO Reveals A Surprising New Approach To Cannabis Delivery” from CannaInsider. Advantages of owning your own supply chain.
Matthew Kind from CannaInsider interviews leaders of the Cannabis, Marijuana Industry. Visionaries discuss the trends and technology that shape the industry. What states are legalizing, what jobs are created by recreational and medical legalization, ways to invest, and ways to partake in Marijuana Tourism. We interview cannabis chemists, dispensary owners, manufacturers of infused products, seed companies, marijuana and cannabis investors.
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sure, I think what's something that is incredibly powerful? It MJ is because we own the licenses and the supply chain and the infrastructure. Um, our price delivered to you is the same, if not cheaper than if you went to a dispensary. We price our products less, um, than the predominant retail train in L. A. Are prices are less than the other predominant delivery service in L. A. Um, and that is the price delivered to you. So if you think about, you know, a competitive offering in in delivery, whether it's grocery delivery, food delivery, all these other categories, you're almost always paying a premium for the for the use of that convenience. What we've unlocked at M J, which is, I think, very similar to what Amazon is unlocked for the greater e commerce market is it's the same prices if you went to the store. But it's brought to you, and that is an extremely compelling offering for people. Yeah, that is, that is really compelling. I could see what you're doing there, and you really do have to capture that whole vertically integrated system. You've got to be have the license holder, the infrastructure the delivery and the W two employees. And then you can offer that. And then people start to think like Mawr, maybe even more favorably. They they think about the store favorably, but they're really start to get friendly and familiar with the delivery platform, which is, it sounds like is what you want. And so just toe, just to mention again, you said that M. J now is under an hour and then for a limited menu and then for the total menu. It's a now our our half. Is that right? Is that right? Correct. Yeah, The easiest way to think about it, sort of like Amazon prime versus you know, their their regular offering, which is, you know, there's a select group of products that are available super fast. Um, if you want it, which is honestly just the top sellers in your area, which changes over time. Or you can choose from anything that you want. But it's going to come to you a little bit later. More like an hour and a half. Okay. Do you think that, you know, in five or 10 years we're going to see what you're doing? Just all over because, you know, maybe Benny's is probably the biggest alcohol really retailer I can think of. There's probably a few others, but by and large it's a lot of lot of mom and pop businesses across the U. S that sell alcohol. Is it gonna be kind of these fiefdoms regionally doing what you're doing with MJ? I think it will fall somewhere in between. Um, you know, again, if you think about just the costs that go into setting up a cannabis operation, it's not cheap, even just from a security perspective. But the way that the regulations air formed even with some of the social equity programming and trying to give, you know, different members of the community, different opportunities in this space, it's expensive. It's it's heavily tax. Um, if you want to set up whether it's a shop or a delivery operation down to security and everything else, it's expensive. Um, it is much less expensive to go open a convenience market or 7 11 or a liquor store. Um, and so because of that, I think that, you know, in many ways, liquor stores proliferated because of that, it was a higher margin product than groceries. Um, it was a product. That sort of is recession proof and always in demand. I remember when we first started working with liquor stores would ask them, What type of marketing do you do? How do you retain customers? That it, uh and, you know, they looked at me like I was an alien. Uh, marketing like I just show up at 6 a.m. and open my doors seven days a week. Uh, you know, And when it works, E think in cannabis, You know, because you have a very conscientious, um, community now in community, being the community groups and neighborhoods and neighbor on homeowner associations and all sorts of stuff that all chip into these conversations, Um, you're not gonna have the proliferation of dispensaries like you had with liquor stores. Um, you know, there's some people heavily trying to push that There's some advertising platforms that obviously they're trying to push, you know, unlimited cannabis licenses, because that's more people they can collect revenue from, Um, but I just think it doesn't make sense, You know, in today's day and age, when you have delivery and delivery can unlock this service and the tax revenue and everything else for entire geography ease. You fundamentally need fewer of those retail locations. So dovetailing back into your question of what does that mean? A. Yes, it's more expensive to set up a cannabis operation than it is alcohol. So I think there will be less players, though honestly, Some of the absolute best stores in Los Angeles are the independent mom and pop operators. They care about the product, they know it intimately. They care about their customers and they're not the chains. They're not, you know, public companies there, and you could go to them. There's some shops in L. A. They're just absolutely fantastic. Staff is fantastic and they do a terrific job. I think on the delivery side it'll be a little bit harder because, honestly, delivery is just brutal. It is a brutal, tough business to run knowing and understanding all the different KP ice and metrics and all the different data points that you have to track in order to make delivery efficient and profitable. At scale is an insanely hard shop. You know, we sort of joke internally that you know, one of the reasons we started sausages because we wanted alcohol delivered to us. And in those early days we were our own careers. We did all the deliveries ourselves, and so, you know, is a little backwards. We wanted to be able to order alcohol, and we ended up creating a platform where all we did all day long was deliver alcohol to everybody else but ourselves. But looking at at a delivery in any category grocery, food, alcohol, cannabis. Ah, lot of people, big grocers, whoever it is. Step into the delivery game. They start to rack up some big numbers in terms of sales, and then they get bigger and bigger and they turn around and they just can't believe how much money they're losing because it is very difficult to run and operate. We've even seen some of the big MSs tried delivery pulled back from delivery. It is different than retail. It is different than creating products. It is different than all these other things. Um, it is a very tough game. And that's where I think even some of the marketplace place to just sit on top of all these individual dispensaries that will kind of do their own deliveries and so on. so forth. If you just want customers toe, have a reliable ordering system. You probably need to control more than infrastructure yourself similar to the way Amazon does. And, uh, you may have a bunch of delivery licenses to get issued a bunch of small, independent operators that attempt to do it. Some will make it some won't just due to the complexities of how hard it is to set up things like route optimization and matching of orders and scheduling and managing labor costs up and down, not weeks in advance. But inside of, you know, half hour increments and all sorts of stuff like that, Um, so I think it'll be a hybrid.
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