Recreational substance entrepreneurs take lessons from Sweet Green salad franchise
After a visit to Sweet Green, a DC based retail salad shop, marijuana entrepreneur Mike Brown is considering diversifying his product portfolio. “Young, urban professionals love weed, and apparently, they’re way into salad as well.”
Mr. Brown went on to note some compelling features of the retail edible plants market saying, “The markup from raw product to street price can be over a thousand percent and premium salads have a much better legal risk profile than weed. All you gotta worry about is the occasional E. Coli outbreak.”
Brown thinks he could have a leg up on the competition in this fast growing market saying, “I really think that my understanding of the key demographics, and of sourcing and distributing high quality, habit forming product, could transfer well.”
The core consumer group in the weed and salad market represents an expansion opportunity for other businesses as well. Recreational substance entrepreneurs are taking a close look at the miniature cake market.
Business owner John Franklin notes, “These cupcakes sell like crack in the yuppie set. You been to Georgetown Cupcake? There’s only one other place where I see people lining up like that for a consumable product.” Franklin looks to the cupcake industry for inspiration as he assesses opportunities to access opulent, sophisticated consumers traditionally out of the reach of street entrepreneurs.
