Cannabis retailer MedMen Enterprises Inc. has expanded into Florida with the opening of a retail location in West Palm Beach.
The Los Angeles-based company said of the 15 new locations it plans to open across the United States in 2019, 12 will be in Florida, where the company is licensed for up to 35 retail locations. It already has stores in Los Angeles, Las Vegas and New York.
MedMen (CSE: MMEN) (OTCQX: MMNFF) said in addition to the 7,550 square-foot West Palm Beach store at 539 Clematis Street, it will soon open retail locations in Key West and Orlando.
MedMen said it is entering a potentially large market in Florida, which is the third most populous state and has a “robust” medical cannabis program with more than 200,000 patients.
“MedMen looks forward to serving Florida’s medical marijuana patients with a consistent, professional and elevated dispensary experience that is the hallmark of MedMen retail,” MedMen co-founder and Chief Executive Adam Bierman said in a statement.
MedMen said results from a recent survey of 3,000 current and potential cannabis users conducted by quantitative research firm Smith Geiger showed that 88 percent agreed there are significant therapeutic benefits to cannabis, but only 27 percent felt well educated regarding cannabis and more than 20 percent of potential buyers don’t feel sufficiently informed to choose the correct product in a dispensary. More than 10 percent of the sample was Florida residents.
“Our research shows many patients in Florida feel they need guidance when they walk into a dispensary. As we expand patient access to the benefits of cannabis, our goal is to help educate our customers before they buy,” said Nick Hansen, MedMen’s director of government affairs for the Florida region. “When a patient enters a MedMen store they will be immediately welcomed by highly-trained staff ready to answer every question and helping them find the best product for their needs.”
MedMen will offer a selection of over 53 products, including its in-house brands that cater to specific patient needs.
“Before day one, MedMen has already shown its commitment to the community and we’re thrilled to welcome them to West Palm Beach,” said Dennis Grady, chief executive of The Chamber of Commerce of the Palm Beaches. “Now that MedMen has opened its doors, patients in our community will have greater accessibility to the high-quality services and products that they deserve.”