John Lord, CEO of LivWell “I was looking for the next thing that would be of interest. This year we will exceed well in excess of $100 million”
How did John Lord go from Kiwi dairy farmer to Colorado’s cannabis king-pin? Watch the full video.
Marijuana Business Daily caught up with owner John Lord to talk about LivWell’s expansion:
LivWell is one of several companies – most of them in Colorado – that have developed retail chains in recent years. How did the company accomplish that, and how long did it take to get this big?
We’re actually 11 locations. Two are under Beacon Wellness and not yet branded as LivWell stores.
It has taken us five years, and it’s been sort of a steady growth of the company. We plotted a quiet course of getting it done, and it’s been a matter of getting the right staff in place, the right training for our staff, and concentrating on the basics first. There have been several acquisitions along the way.
We’re undecided (on when the new stores will be branded as LivWell). We’re currently doing some buildouts for the stores for the future, and once that goes through the permitting process, it could be late this year or early next year.
Can you give us a ballpark idea of LivWell’s annual revenue?
Although we don’t wish to be specific, this year we project to be well in excess of $80 million.
Colorado is having an unprecedented marijuana tax holiday next week on recreational cannabis purchases at the retail and wholesale level. How are you preparing for this, and do you expect to see a spike in sales?
I just believe it to be another 420-style situation. I think we’ve got a few little in-store specials and things going on, but nothing too carried away.
Traditionally, with these types of events, if you take a two-week sales average, really there’s very little increase (in overall revenues). You get a blip on the day, sure, but perhaps before and after there’s a bit of a lull.
It depends on how long you want to take the average over. On the day, of course, it is a bump, and we have to staff up accordingly and try to support our staff as much as possible, because it’s a pretty heavy day for them.
More from of the John Lord interview.