- Emily Drayton, Staff Writer
Planet 13 Makes Bank
When the pandemic clears up, you should consider going back to Las Vegas. It’s still big, it’s still weird, and it has "the world’s biggest dispensary": Planet 13. And Planet 13 is living up to its reputation.
TBH, Planet 13 is more than just big, it's an amazing physical space, bordering on emotional, epiphanic.... don't say I didn't warn you... where you can drop a few chips stocking up for the coming shift your personal space/time continuum. In my humble opinion, Planet 13 is one of the greatest indoor experiences you’ll ever have. I can barely explain how multitudinous and incredibilizing the visuals are, but you will say Oh My God! 5 times before you get your ID back. If Disney World were this cool, people would literally never leave (and now that they have new haircut regs, it might become an option for some).
But back to the point:
Planet 13's April 2021 Numbers are In, and They're Astronomical
Straight out: Planet 13 Generated $10.7 Million in Sales in April 2021.
Not only do those numbers smoke any other cannabis dispensary in the US, at this point Planet 13 is smoking its own records
Last year Planet 13 made that much in the second QUARTER
On 4/20, the store made $543,000 IN ONE DAY
For the month, the company said its GROSS MARGINS WE MORE THAN 50%.
CONSIDER THE BIGGER CONTEXT: the US Retail Apocalypse:
2020 was a Retail bloodbath due to COVID – or as Wikipedia calls it: “The Retail Apocalypse”: More than 8,300 stores closed in 2020. Over 100 retail brands went chapter 11, include Brooks Brothers, Nieman Marcus, Century 21, GNC vitamins, Guitar Center, JC Penney, J Crew…
RETAIL SALES/SF Averages:
Dispensaries, on the other hand, are some of the most profitable retail locations in the US (and the oft-mentioned status as "essential businesses" helped their cred, to be sure). Apple stores average approximately $6,000/square foot… At its peak, MedMen claimed to make even more than that (though not quite so much anymore).
PLANET 13 IS ALL THAT AND MORE:
Even in the city where bigger is better and massive is average, Planet 13's super duper store has a few advantages:
Open 16 hours/day (Planet 13 employs 285 people do service all this)
42 cash registers
They even have their own genetics – called Medizin
And they’re publicly traded.
AND IT’S GETTING BIGGER…
Planet 13 is expanding its flagship store (though it's tough to get accurate square footage numbers from the jumblenews). Depending on when you follow my instruction and visit Las Vegas, you may find yourself enjoying new features such as Food Service and a Coffee Shop.
...and there will be whole new SuperStore opening in Orange County later this year.
THE LOOP BACK
Planet 13. It’s big, it’s cool, and just oh my god!
And as they say in Clubhouse, I’m done speaking.
Image Sources: Las Vegas Review-Journal; Benzinga