Search Results for: joe armes

MJ Research Report: New Retail Stores Continue To Fuel Marijuana Sales Growth

By Joe Armes

WASHINGTON: With less than 7 weeks of recorded sales in 2015, Washington State’s recreational cannabis industry has already inked sales of nearly half of what it recorded in 2014. So far this year combined producer processor sales have totaled nearly $30M compared to just over $65M for 2014. Opening of new retail stores continues to fuel healthy sales growth even with a lingering surplus of cannabis deflating prices.

Here are some other insights from MJ Research’s Washington State Recreational Cannabis Business Intelligence Dashboard:

  • There are currently 119 approved retail stores in Washington State and as of February 3rd 98 of these retail stores had recorded sales.
  • Combined Producer, Processor and Retailer monthly sales grew at 7.7% from $16.95M in December to $18.26M January. Retail sales had its slowest monthly growth in January at 8.8% from $11.47M to $12.49M. Producer/Processor sales recovered with 5.3% growth from $5.48M to $5.77M after a sharp drop in December following the fall harvest and recorded the second highest Producer/Processor monthly sales in January.
  • On a weekly basis sales continue to grow on a very healthy trend and for the week of February 28th combined Producer, Processor and Retailer sales shattered the week of January 11th’s record of $4.2M with sales for the week coming in at $5.9M.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

 

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.

MJ Research Report: After Slow Start For 2015 Washington Legal Pot Sales Rebound With Record Week

By Joe Armes

WASHINGTON:  After a record sales day with over $1.2M in sales on New Year’s Eve the beginning of 2015 seemed to have been off to a sluggish start for recreational cannabis sales in Washington State.  That was until last week when sales growth perked up with a new record sales week with $4.2M in combined producer, processor and retailer sales between January 11th and the 17th.

Here are some other insights from the Washington State Recreational Cannabis Business Intelligence Dashboard:

  • Comparing month-to-month sales for the first 19 days of the month, January combined producer, processor and retailer sales continue on a slower growth trend for a second straight month and are trending at ~3% growth for the month.  In a couple weeks we will have the breakdown with more details but we expect a repeat of December with producer/processor sales declining and healthy growth for retail sales.
  • Overall, sales are on a healthy growth trend for the first 27 weeks of legal, recreational cannabis sales in the state.  This growth has been primarily driven by new retail store openings.
  • Washington State now has 110 issued retail licenses.  In a couple weeks we will have the details on how many of these stores have opened for business.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com

 

MJ Research Report: Washington State Ends 2014 With $65.3M In Legal Pot Sales, 86 Stores in Operation

By Joe Armes

WASHINGTON: The final numbers are in from the Washington Liquor Control Board (LCB) for 2014 and we have the key insights from the year for your cannabis business.  Washington State ended 2014 with $65.3M in combined producer, processor and retailer sales.  In comparison, Analytically Correct forecasts sales for 2015 between $350M and $495M.

MJRESEARCHJAN2MJRESEARCHJAN3

Month-to-month sales growth in December slowed to just under 5% compared to the nearly 52% monthly average growth between July and November.  The stall was fueled by the ~22% drop in Producer/Processor sales from $7M to $5.5M from November to December.  However this was offset by healthy retail growth of over 25% for the month from $9.1M to $11.4M. The fall in Producer/Processor Sales is an insight to watch over the next couple months and something that needs further analysis.  Initial observations indicate that the decline is in part a result of outdoor harvests in October and November which created a spike in inventory in the market, generating larger sales in November but now has driven down prices in the market with a surplus of product still available.

Here are other insights from 2014 in the Washington State Recreational Cannabis Business Intelligence Dashboard:

  • 2014 legal cannabis sales generated over $16M in excise taxes due to the state.  Additionally, the state will also bring in a generous amount of revenue from Sales and Business and Occupation (B&O) taxes from the industry (we have not calculated state revenues from these taxes).
  • With 86 retail stores recording sales in 2014, 62.4% (~$40.8M) of the combined $65.3M cannabis sales were generated from retailers.
  • After a slow start for the first several months, King County ended the year with the most combined producer, processor and retailer sales with $9.4M folled by Clark County at $6.3M and Spokane County with $5.1M.
  • Local acceptance of cannabis business still varies greatly.  At the end of 2014, 27 counties had retail stores with approved licenses and 25 had stores in operation. Twelve counties still have no approved retail stores.
  • King County had the most stores in operation at the end of the year with 12, followed by Spokane County with 10.
  • Klickitat and Cowlitz Counties had the highest percentage of allotted stores in operation with 75% and 71% of allotted stores operating.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.

MJ Research Report: Washington State 2015 Legal Pot Sales Outlook: $350M To $495M

By Joe Armes

Washington: 2014 was a groundbreaking year for legal recreational cannabis in Washington State.  The year was about setting the groundwork for the future with opening of the first recreational cannabis businesses and establishing a steady supply for the market. While the Washington State Liquor Control Board (LCB) won’t have the complete December sales data published for another couple days it looks like the year will end with approximately $64M in sales and 99 licensed retail stores.  Once the complete data is available we will provide a 2014 summary with key business insights.  While we begin this new year with myriad of concerns to address including medical cannabis, local bans, price levels and tax structure the theme for cannabis businesses in 2015 appears to be growth.  In this addition of the MJ Research Report we take look at what growth predictions we can make for 2015 with the help of a crystal ball and some statistical modeling (okay, it’s mostly statistics).

Daily Average Sales Forecast

Daily Average Sales Forecast

Utilizing the 25 weeks of sales data we have from 2014, Analytically Correct has modeled Washington State’s legal recreational cannabis sales for 2015.  We enter 2015 with many unknowns that might impact the overall market.  This is where the crystal ball comes into play.  The forecast assumes that sales continue on the current track.  Action from Washington State legislature or federal government, unstable/unobtainable pricing, change in the rate of license approvals from the LCB, prevention of business operations by counties or municipalities, etc. all could have an impact on actual sales (some of which could be positive impacts).  Here are the key predictions from the forecast:

  • Approximately $424M in combined producer, processor and retailer sales for Washington State in 2015 (95% statistical confidence interval for the forecast ranges from ~$350M to ~$495M)
  • Over $1M in average daily combined producer, processor and retailer sales by July 2015 (95% statistically confident)
  • Approximately 250 active retail stores in operation by the end of 2015 (95% statistical confidence interval for the forecast ranges from ~225 to ~275)

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

* * *

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.

MJ Research Report: Washington Hits First $1M Day for Legal, Recreational Cannabis Sales

By Joe Armes

WASHINGTON: On Wednesday, November 26th the state of Washington achieved a milestone the industry has been anticipating for months; the first time single-day recreational cannabis transactions (producer, processor and retail sales) broke the one million dollar barrier.  Given this milestone was achieved with 75 retail stores in operation, we can anticipate that this will be a regular occurrence once the majority of the state’s allocated 334 stores are licensed and in operations.

Here are other highlights from the Washington State Recreational Cannabis Business Intelligence Dashboard:

  • Thanksgiving day sales drop off to just under $148K indicates the $1M sales on the day before was likely due to consumers making cannabis purchases in advance of Thanksgiving festivities and due to stores being closed on Thanksgiving day.
  • Comparing Friday over Friday sales there is no indication that Washingtonians had a “Green Friday” the day after Thanksgiving as sales on Friday the 28th were in line with typical Friday sales.
  • The second anniversary of passing I-502, November 6th, is the second highest sales day, next to the 26th, with over $930K in sales.
  • Sales continue to grow at a steady pace. This sales growth appears to be driven by increased access for consumers to retail locations and a consistent supply of cannabis in the market.
  • The two weeks with most sales occurred in November.  The week of November 2nd (includes the 6th) is the largest sales week so far with over $4M in sales and the week of November 23rd is the 2nd largest with over $3.6M in sales.

If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

About Joe Armes: Joe is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions/

 


 

 

MJ Research Report: Washington Surpasses $40M In Recreational Marijuana Transactions

By Joe Armes

WASHINGTON: The Marijuana Business Association (MJBA) and Analytically Correct are pleased to announce the release of the first MJ Research Report and business intelligence dashboard on the eve of the cannabis industry event: The Dollars and Sense of Risk & Financial Management.

We are providing the MJ Research Report as an industry resource for business intelligence.   The report will cover analysis of key issues, events, trends and will provide critical insights for businesses in this new marketplace. What is business intelligence? Business intelligence is a set of strategic tools and processes used to analyze data and convert it into insights decision makers need to make informed decisions.

The most impactful business intelligence combine a specific business’s data with market data to provide a clear understanding of the business’s relationship to the market.  This is why CIO’s rank business intelligence and analytics as their company’s top technology priority. Once only available in research and science fields that required highly accurate analysis, the rapidly increasing amount of data available for analysis and the increased processing power of personal computers is now making tools for business intelligence accessible to all organizations.

MJ Research Report Dashboard

MJ Research Report Dashboard

In support of Washington’s recreational cannabis industry we are providing the business intelligence dashboard with key market information. Here are a few highlights from the business intelligence dashboard of the industry’s performance this year:

  • Washington State has now surpassed $40M in recreational cannabis business transactions. That will bring in the state over $10M in tax revenues.
  • 64 retail stores have recorded sales and 80 retail stores have approved licenses
  • Chelan County leads the state in producer sales with over $231K in sales thus far and Clark County has the most retail sales with over $3.3M in sales.
  • 10%, 11% and 4% of the producer, processor, and retailer license applications have been approved.
We are providing the MJ Research Report as an industry resource for business intelligence.   The report will cover analysis of key issues, events, trends and will provide critical insights for businesses in this new marketplace.

We are providing the MJ Research Report as an industry resource for business intelligence. The report will cover analysis of key issues, events, trends and will provide critical insights for businesses in this new marketplace.

If you are interested in learning more about business intelligence and its use in the industry please attend the Business Intelligence panel at The Dollars and Sense of Risk & Financial Management event on November 22nd from 3:45 pm to 4:20 pm.  If you are a producer, processor or retailer who would like to be a confidential data provider for the dashboard and receive custom business insights or would like more information about business intelligence and analytics feel free to contact Joe at joe@analyticallycorrect.com.

* * *

Joe Armes is the founder of Analytically Correct, a data analytics services company that provides custom analytics solutions that transform data into insights to allow decision makers to focus on what adds most value. His passion is to work with organizations with deeply rooted causes to help them gain access to the knowledge needed to make timely and informed decisions.

Spokane, All American City, Turns Over New Green Leaf; Welcomes Cannabis Job Fair

For years major consumer package goods marketers have used Spokane, WA, as a product testing grounds.  Because of its prototypical average-ness, the city has served as an idea environment to test market everything from fast foods to fabric softeners.  It is striking, then, that this weekend the ultimate American city will turn it’s at attention to the promise of better living through participation in the legal marijuana economy.

Seeking their part of the Green Rush, hundreds of job seekers will attend MJBA Job Fair Spokane, eastern Washington’s first Cannabis Job Fair Saturday, June 20, 2015, 10AM-4:20PM at the Spokane Convention Center.  Organized by the Marijuana Business Association and Washington NORML, event sponsors include the Inlander, Cannabis Training Institute, Eden Labs, RMMC Consulting and Miller Soils. Featured employers exhibiting will include Washington’s Finest Cannabis, Blue Roots Cannabis, BioTrackTHC, WallaWalla Cannabis Company, Kush Comfort Farms, Belladonna, Mosaic Insurance, Triple T Farms, Farmer Tom, PayQwik, Stintzi Insurance, Dope Magazine, Hemp Industries Association, and 420MEDIA, which is holding an open casting call for creative talent to work on its new web series, Hmm…Did You Know.

Legal Cannabis is the fastest growing industry in America, creating tens of thousands of new jobs in 2015, and in Washington State, still only one of two states where adults 21+ can legal purchase and consume recreational marijuana, the industry is having a positive economic impact.  According to the latest MJ Research Report The state now has 163 licensed retail stores with 146 recording sales as of May, and combined Producer, processor and retailer sales were $215M through June 1st.

Analytically Correct estimates that by the end of 2015, between 3,000 and 4,000 direct industry jobs will have been created within recreational cannabis in Washington State. Note that this is total, direct (producer, processor, retailer) jobs within the I502 space, and is not additional jobs between June and December.

Stand up and be counted: Take the MJBA Cannabis Jobs Survey: http://bit.ly/MJjobssurvey

Ted McGregor, Publisher of the Inlander, will be the event’s keynote.  He is expected to speak about the budding industry’s economic and social impact on the region. Other featured speakers include Luc Nelson, Cannabis Training Institute; Washington NORML’s Kevin Oliver; Joy Beckerman of the Hemp Industries Association; Joe and Aubrey Armes, Analytically Correct; David Rheins, MJBA; Morgan, MJBA Women’s Alliance;  and cannabis personality TwiceBakedinWa among other industry thought leaders.

While Eastern Washington is home to some of the legal cannabis industry’s largest cannabis producers, featured employers are looking to fill a wide variety of jobs – many of them never touching the plant.  Free to job seekers, the fair is expected to draw hundreds of prospective workers in weed. Here are a few of the many openings that are waiting to be filled at the MJBA Job Fair:

BioTrackTHC:  “ As the industry leaders in seed to sale traceability we are happy to partner with the MJBA in finding more industry professionals to join our Washington team,” BioTrackTHC’s Ashley Heddy told MJNN. “We are looking to hire friendly support staff and software functionality trainers. We would like to thank the MJBA for once again bringing us together with our fellow industry professionals and making this happen!”

Miller Soils: Louis Miller tells us that the biochar has two sales positions open for Washington State: one on the east side one on the west side. Sales experience is preferred, with knowledge of soil and grow medias a must, and some growing experience a plus. This is a commission-based position.  Miller Soils also seeks experienced composter, with several years of experience with vegetative compost a must. Candidates should be familiar with safe operations of the equipment and organize the people involved in the composting process. This could be a salaried position or hourly, with lots of room for advancement. The company also is looking to hire soil blending manager.  Must have several years of experience and professional Soil Blending. Must have a good understanding of safe operations and how the equipment functions and the importance of proper measurements for the soil blends. This would be a salary position with a lot of room to grow!

PayQwick is looking for field representatives. The Field Marketing Representative will work together with the Marketing and Sales managers in the development, implementation and ongoing company’s marketing and sales efforts in the area.  Responsibilities will include daily visits to Licensed Marijuana Producers, Processors and Retailers, and working closely with marketing and sales teams to execute marketing programs and In-store promotional advertising.

 “Those that pass the first round of auditions will be interviewing cannabis employers and potential employees on camera.”

“Those that pass the first round of auditions will be interviewing cannabis employers and potential employees on camera.”

420MEDIA is holding an Open Casting Call for creative talent at the show.  The Seattle-based media and entertainment company is a VIP Sponsor of MJBA Job Fair Spokane, and a national member of the MJBA. 420MEDIA is in expansion mode, and will be at the Job Fair seeking to hire DP’s, editors, photographers, graphic designers, web developers, animators, associate producers, and project managers.