Colorado’s Largest Dispensary Chains: As Of April 20th, 2020!
When people think of legal cannabis, they think of Colorado: it’s that simple. At least, that’s how we see it here at FlowerFieldz.
How many dispensaries are in Colorado? According to The Colorado Marijuana Enforcement Division, as of April 1st, 2020, the state of Colorado has 587 Retail Marijuana Stores.
Of the dispensaries in Colorado and everywhere else that has legal cannabis sales of some form, many of them are not as lucrative as one might think because 1) they’re a small, independent operator and have the same struggles of any smaller business; 2) the taxes associated with the sales of cannabis are outrageously high (no pun intended); 3) Licensing costs and renewal fees are so high that many of those select few who have been able to obtain a license eventually voluntarily surrender it each year and/or sell out to a larger operator, unfortunately consolidating the industry further and making it harder for other independent operators; and 4) cannabis is extremely expensive to grow, sell and produce products from, and it’s also very labor intensive.
We’re not here to say that there aren’t plenty of entrepreneurs who are getting rich from legal cannabis sales, because-TRUST US-plenty of people are doing just that by cashing in on the new Green Rush in a massive way that is allowing them to amass mountains of cold hard cash…and there is probably nowhere that has experienced more changes due to cannabis than Colorado. So, since we’re based in Colorado, it seems only appropriate that we should make our company’s first ever article be something related to our beloved home state…but if you live elsewhere, don’t worry, because WE LOVE THE CANNABIS INDUSTRY AND WE LOVE EVERY BUSINESS IN THE INDUSTRY ACROSS EVERY STATE! 😀
Back to speaking of dispensaries in Colorado…while some are independent shops or perhaps a chain of 2-3 stores, there are some cannabis companies in Colorado that have many more locations and they are growing like-well, we can’t resist-they’re growing like a weed! In fact, our research indicates that several cannabis companies in Colorado are personally generating tens of millions, and even up to HUNDREDS OF MILLIONS OF DOLLARS IN REVENUE, each year. So, what are the largest dispensary chains in Colorado? We’re about to find out!
Colorado’s 5 Largest Cannabis Dispensary Chains: 420 of 2020 Edition!
1. Medicine Man Technologies (Transactions Technically Pending)
Total Colorado Dispensary Store Locations: 26
Medicine Man Denver, one of Colorado’s foremost dispensaries and cultivation facilities, was founded by the formidable duo of brothers Andy and Pete Williams in 2009 after they received a $150,000 check from their mother and step-father, and then they used those funds to purchase a warehouse in Denver and start a cannabis company…and they’ve just kept on growing, and growing, and growing ever since. With Pete serving as the Master Grower and Andy serving as the CEO/business mastermind, Medicine Man has built a brand that is well known across the cannabis industry. Alone, Medicine Man has 4 successful dispensary locations in Denver, Aurora, Thornton and Longmont, respectively. Medicine Man’s parent company, Medicine Man Technologies, is something that initially started as a side-business…but now it has entered into agreements (which are technically still pending, but we’re counting them here now because the transactions have already been announced) which will turn Medicine Man into one of the largest cannabis companies in the world. In 2019, Medicine Man acquired several popular Colorado Dispensary Chains, including 3 Colorado Harvest Company Dispensaries, 6 RootsRx Dispensaries, 4 Strawberry Fields Dispensaries, 4 Mesa Organics Dispensaries AND 5 Starbuds Dispensaries…not to mention Los Suenos Farms, the world’s largest legal outdoor cannabis farm, and a few other brands. Does this overwhelm you a bit? Well, it sounds like Medicine Man Technologies is just at the start of their buying spree, as Andy Williams recently stepped down as CEO and the team is now filled out with a plethora of former Albertson’s executives and led by new Chairman and CEO Justin Dye, so stay tuned because we might see an updated number very soon if Medicine Man opens or acquires another dispensary.
1A. The Green Solution
Total Colorado Dispensary Store Locations: 21
The Green Solution recently sold in November of 2019 for $140 Million Dollars to Columbia Care Inc., a Canadian Cannabis Company. While this exit is undoubtedly monumental, The Green Solution certainly is an amazing Cannabis Industry Success Story that started with more humble beginnings than you might imagine. There must be something in the water north of Denver, because The Green Solution is yet another cannabis power player that was founded by brothers. Kyle, Eric, Brad and Nick Speidell, all had backgrounds in various industries; 2 brothers in real estate, and military credentials galore among the family. After a few acquisitions of other dispensary licenses and grows, The Green Solution saw unprecedented growth take place. Now, as of 04/20 of 2020-The Green Solution is technically Colorado’s largest dispensary chain that operates under 1 brand name. Based upon their past trajectory, we would be betting that you can expect to see more locations of The Green Solution opening down the road.
2. Native Roots
Total Colorado Dispensary Store Locations: 20
Josh Ginsberg, Rhett Jordan, and Peter Knobel are the main partners behind Colorado’s Native Roots dispensary chain-and, if you follow the cannabis industry in Colorado closely, these are names you certainly are already well aware of because of the prominence of Native Roots. The newest outpost of Native Roots, Native Roots Speer, is anticipated to open shortly in a former Boston Market in Denver at the intersection of Grant Street and Speer Boulevard (and we have counted this store in our calculations because it’s already licensed to operate). With one of Colorado’s largest cultivation and retail store footprints, and a thriving extractions line as well, it seems possible that Native Roots could take root as the largest dispensary chain in Colorado at some point.
3. LivWell Enlightened Health
Total Colorado Dispensary Store Locations: 17
New Zealand native John Lord is the founder and majority of LivWell. Prior to starting a career in the cannabis industry, Mr. Lord was an entrepreneur who sold a baby products company called Basic Comfort for a sum reported to be around $6.5 Million. Ever the sharp business mind, John Lord transitioned into the cannabis field around the beginning of Colorado’s Medical Cannabis revolution and he has kept the train rolling strong at LivWell ever since. Not only does LivWell run a massive cultivation and extraction facility in North Denver, and another cultivation, but they also seem to be continuously expanding into other states in territories. In addition to the 17 LivWell Dispensaries that are open in Colorado, the company also has an Oregon dispensary and they are beginning construction on a dispensary (and possibly cultivation?) in Michigan. Now, with his son and other trusted executives helping to lead the next stage of growth, it appears John Lord’s LivWell business is not going to be getting any smaller any time soon.
4. Green Dragon
Total Colorado Dispensary Locations: 14
After a prudent merger with their former wholly owned affiliate, Greenwerkz, Green Dragon has undertaken a very aggressive expansion plan that is allowing them to become one of Colorado’s top dispensary chains in a very short period of time. Represented publicly by Co-CEO Alex Levine, and ran by Alex’s father Andrew Levine behind the scenes, Green Dragon went from a chain doing big things on Colorado’s western slope to one of the most prominent brands across the whole state in seemingly no time. With the way things have been going for Green Dragon recently, it seems unlikely that this chain will be going up in smoke any time soon.
Total Colorado Dispensary Locations: 13
Starbuds Founder and CEO Brian Ruden coined a catchy name for his chain of cannabis dispensaries that intentionally pays homage to the Seattle coffee giant you’re thinking of right now. With a loyalty program that keeps customers coming back consistently, it’s rumored that Starbuds is one of the more profitable cannabis dispensary operators in Colorado…so it’s no surprise to see that Starbuds has grown at such a tremendous rate over the years. As we mentioned previously, a portion of Starbuds’ store are under contract to be sold to Medicine Man Technologies-however it is unclear what/if any changes will take place down the road. One thing is certain, and that’s the fact that Starbuds is one of Colorado’s largest dispensary chains!
We would like to thank you for visiting FlowerFieldz™, and for reading our very first article ever! We hope to see you around here a lot more from now on, because we’re aiming to become the world’s #1 source for all things cannabis.
We’ll Grow Great Together™