Brands Entrepreneurship Jun 29, 2016

Beloved Good Meds Dispensaries to Enter the Wholesale Game with Concentrates & Flower

Good Meds’ medical marijuana centers are two of the oldest in town, with the Englewood location opening in 2009 and the Lakewood store following in 2010.  Through the years, it has built a loyal customer base who come in regularly for its wide variety of premium strains and customer service.  Rave reviews on sites like Leafly read “patient care isn’t just a phrase here – genuinely knowledgeable staff compliment a consistent and value-driven product.”

So, what’s Good Meds’ secret?  Mary Bahr, the co-owner and Director of Retail Operations, explained, “the number one thing that differentiates us is the knowledge that our staff has and passes on to all our patients – knowledge of strains and also products, really knowing what works for different ailments.”  Every budtender in the store is trained for at least one month before they interact with patients, ensuring that every customer has an experienced staff member helping them find the right treatment.  Through this method, Good Meds has seen patients use their products to regain their appetites after chemotherapy and treat pain without addictive medications.

Since its first location opened in 2009, Bahr has seen the industry in Colorado evolve firsthand.  She has noticed that one of the biggest changes is that medical marijuana is now accepted as a legitimate business.  When she first wanted to purchase items for the store, such as display cases, she could not be honest with suppliers about what their company was doing, because it was looked down upon.  She is glad to see that the perception of medical marijuana as a “stoner” industry has changed.  Despite this, dispensaries still face banking and marketing challenges.  While they can now open bank accounts, they are usually subject to a great deal of fees because of the nature of the business.  Dispensaries also face marketing hurdles, as they can only advertise in certain places and publications, and social media accounts must be kept private to prevent being shut down.

Despite these challenges, Good Meds has and continues to grow with sights set on becoming a well-recognized brand in Colorado.  As its name indicates, the Good Meds dispensaries currently serve the medical market only, which Bahr believes is an asset to the brand because it has streamlined its mission of serving patients and has given it a nurturing, trustworthy reputation.  If the opportunity presented itself, the company would like to open a retail location; however, it would need to be at a new, separate location because the two existing stores would not comply with the state’s geographic restrictions for retail stores.  Bahr explained that regardless of legal restrictions, this would be the ideal scenario for expansion, as combined use locations can make “medical patients feel like they’re left behind.”

Though a retail shop is not currently in the works for Good Meds, it is expanding its product lines.  It recently acquired a recreational wholesale license and it is building a new MIP lab.  “We are going to have recreational flower for sale soon for dispensaries who would like to be able to carry our amazing product on their shelves,” Bahr told me.  It is also creating a concentrate brand, which will launch on July 10th, the concentrate 7.10 “holiday”, in both of its stores.