Planet 13 Holdings CEO Robert Groesbeck: “Once in a lifetime”

0

22 November 2021

Robert Groesbeck, co-CEO, Planet 13 (CSE: PLTH)

Robert Groesbeck is the co-CEO of Planet 13 Holdings, a nationwide vertically integrated cannabis company (CSE: PLTH) (OTCQB: PLNHF) based in Nevada.

The company’s 112,000 square foot Las Vegas dispensary is the largest cannabis shopping and entertainment complex in the world. Planet 13 has award-winning grow, production and dispensary operations in Las Vegas and dispensary operations in Orange County, California.

Mr. Groesbeck has spent most of his life in the Las Vegas area. He is a long-time entrepreneur, starting and / or helping in the creation of several businesses.

Mr. Groesbeck has been named one of Southern Nevada’s Top Forty Under Forty Business Executives based on his professional accomplishments and community service by the Las Vegas Business Press.

Mr. Groesbeck has extensive experience in the legal field. He has practiced law for over 25 years and has knowledge of multiple aspects of law.

He was also mayor of the town of Henderson from 1993 to 1997.

Mr. Groesbeck received his BA in Criminal Justice from the University of Nevada, an MBA from National University and a JD from Western Michigan University.

In this 2,991-word interview, exclusively in the Wall Street Transcript, Planet 13 executive (CSE: PLTH) Mr. Groesbeck details the start-up and strategic positioning of the modern state-owned marijuana business.

“We looked at it like Nevada in the 1930s when gambling became legal. It was something that only happens once in a lifetime.

Same thing with alcohol when it is out of the ban. And there were a lot of challenges. It was new to everyone, but similar to cannabis.

And we thought, “Hey, let’s try. And if we’re going to do that, we’re going to go all the way and do something special… We didn’t know the pesky things like Internal Revenue Code 280E and the banking challenges of running a treasury business. – none of it was on our radar screen at the time.

Planet 13 (CSE: PLTH) CEO Robert Groesbeck describes his company’s capabilities:

“… We are an integrated cannabis company.

We therefore specialize in everything related to marijuana. And as a vertical operator, we grow products.

We have a large manufacturing plant. And through this facility, we sell all types of products including vape pens, chips, infused drinks, infused chocolates, and gummy candies.

So just about anything that can be infused with cannabis we’re interested in taking a look at.

If it’s something that our customers and the customers we wholesale appreciate and love, we try to create a product that is what they want.

Planet 13 has a flagship product that Robert Groesbeck describes:

“It’s a square of chocolate infused with peanut butter and we knew from our R&D and all the testing that we did in-house that we had something special, because one of the things with THC products is , especially infused products, there is a tendency to have a fairly strong aftertaste.

And this particular product line doesn’t. And our customers really appreciate that. It is a high quality chocolate and peanut butter.

And again, no aftertaste. So it was really well received by the public.

The COVID 19 pandemic created an early challenge for Planet 13 (CSE: PLTH) and Mr Groesbeck responded:

“… It was March 2020 – we were basically given 24 hours to shut down the facility.

And to give you an idea, in our hypermarket in Las Vegas, at the time probably 85% of our customers were tourists. And so literally overnight, that market was gone.

The storefront was closed and we were fortunate that in Nevada we were seen as an essential business and this allowed us limited opportunities to do delivery initially and then later curbside pickup. But without this delivery option, we would have been forced to shut down completely.

It was dramatic.

Before COVID, I think we had three delivery vehicles. It was a very limited operation. So during the shutdown, we went out and secured 30 more vehicles and built a very robust delivery platform in about 45 days, to the point of serving over 1,000 customers per day through delivery alone.

So it was a really tough turn for us to move from a retail storefront to a delivery only platform.

It was a real testament to our team and the desire to adapt and get there.

The other alternative for us would have been to close the doors and reopen when the markets improved, but that was not an option.

We had several hundred employees on the payroll and we wanted everyone to be employed during the pandemic, and we did. “

Planet 13 has identified a new growing market and Robert Groesbeck has ambitious plans:

“I think Florida is a huge market. There is a medical market only now, but you probably have close to 600,000 cardholders.

You have a state with a population of just over 21 million and then you have well over 100 million tourists passing through the state, whether it’s on the Orlando subway, the Miami subway, or towards Tampa.

So there is a huge advantage for tourism. So it’s a natural fit for what we want to do.

And in Florida, of course, the cannabis companies have to be vertically integrated, which we are very comfortable with because we do a lot of cultivation and manufacturing.

We thought it made perfect sense for us to go there and really build a retail platform that is currently not a big box, more our neighborhood concept like our Medizin dispensary in Las Vegas.

And we’ll identify suitable sites for big box stores when Florida switches to adult use. “

Robert Groesbeck identifies “Superstore” as a key differentiation of Planet 13:

“Originally, we were just a big box model; we were a one-store operator.

Now we have moved to California. We will be in Florida as you mentioned earlier. We will also be in Illinois.

Originally our goal was simply to build supermarkets and a handful of them across the country in the large urban metropolitan areas that attract a lot of tourists.

We’re going to continue to promote the supermarket brand, but we’re also going to go into those select markets with more of what we call a traditional neighborhood or dispensary, with a smaller footprint, in that 2,500 square foot range. . So that’s our plan.

It worked well.

This is really what sets us apart, however, from most of the competition. We are truly the only operator in the space who has really built a facility of this magnitude.

And I’m sure there will be more to follow and that’s to be expected, but we’ll continue to focus on what we do best.

Get the full growth strategy for Planet 13 Holdings (CSE: PLTH) by reading the full 2,991-word interview with Robert Groesbeck, exclusively in The Wall Street Transcript.


Source link

Share.

Comments are closed.