Trade to Black Podcast: COO Timothy Shaw Breaks Down The Path To $350 Million In Annualized Revenue
Right now, MariMed, Inc. (CNSX: MRMD) (OTCMKTS: MRMD) is one of the few cannabis MSOs in the United States with a positive cash flow. When CAO John Levine sat with us last month, he even described MariMed as ‘a hunter in the land of the hunted.’ We had some great conversations following that interview. On today’s Trade to Black we’re going to be talking more MariMed with Chief Operating Officer Timothy Shaw. MariMed recently released their earnings reports, and it’s generating some excitement.
Here’s some excerpts from the interview, but make sure to like and subscribe to ensure you’re always current with our podcast. We also love hearing from our fans, so don’t hesitate to comment.
MariMed ‘as bullish as ever’ says Shaw
Despite some headwinds, Shaw feels like investors should know they’re as bullish as ever. MariMed can’t help the economy and customer spending habits, or regulatory and construction delays. Nevertheless, they’re weathering the storm well compared to many competitors. In fact, Shaw says their dispensaries have increased foot traffic.
Shaw says this is a great sign to show that MariMed is doing something right. Customers who are spending are coming back. And MariMed’s loyalty program is doing well. “I’m not sure what anybody else is doing,” Shaw says. “But I could say [loyalty’s] something we put a heavy focus on.”
MariMed’s loyalty program includes factors such as the feel of a comforting environment and keeping customers from feeling rushed at the register. “We really thrive on educating the consumer to feel comfortable in their purchase,” he adds. It helps prevent buyer’s remorse in an industry where people are only just finding their way to using cannabis.
Lots of room to grow additional dollars, says Shaw
@5:21, Shadd cites John Levine’s assertation that MariMed could generate over $350m in revenue over time. It would require MariMed to generate 172% above the $128.3m they’ve generated in the last year. He asks where those additional dollars would be coming from.
Simply put, Shaw says MariMed is in a lot of limited license states. He goes on to explain what that means, and where there’s potential. “We’re not maximized in any of [these opportunities] yet,” Shaw says. “In the short term, we’re looking to get to those numbers and maximize our ability in each one of these markets.”
Marketing to become a household name in the works
One of the big surprises in MariMed is that their edible products are doing well with comparatively little marketing investment. There was, of course, the 850 pound brownie that got them some viral awareness. But beyond that, there hasn’t been as large a push to market products as most other brands would require, given their current effectiveness.
Robert Hall was recently brought on as CMO for MariMed. He comes from Boston Beer, and is just getting started with the company. Shaw says MariMed is excited to have him, and he’ll be working on marketing and branding strategies to give Betty’s Eddies and other MariMed products more of a push.
Tune in to get the full interview, where you’ll hear Shaw’s thoughts on whether things have turned a corner in the cannabis world, and the core values of MariMed right here on The Dales Report!