A pot shop opened in Black Boston today. Address: 430 Blue Hill Avenue, Roxbury, MA in Grove Hall, the first one with a retail license in the city of Boston. And customers could not have been more pleased. A photo of Peter Tosh’s daughter, the “LEGALIZE IT” reggae songwriter, was photographed for a Boston Globe newspaper story when she became the first customer to make a purchase there.
But a Nubian Square Coalition subcommittee is against retail pot shops in Black Boston, said organizer Sadiki Kambon on a recent Black talk radio show. Somebody is planning to open a pot shop in Nubian Square and they don’t like that.
His coalition partners persuaded the State legislature to change Dudley Square named property to NUBIAN SQUARE. Youth feel positive about Nubians.
The Nubian Square Coalition is “for” medical cannabis dispensaries but “against” retail pot stores in Black Boston, Kambon said. You don’t hear them talking about putting them in Kendall Square, he suggested on the show. In Grove Hall, a representative of the Grove Main Streets organization expressed to media that there should have been agreements in place between the Pure Oasis operation ( that’s a great name, btw ) and the community to guarantee fixed fee amounts of cash money leave Pure Oasis and be given to “the community” for pot mitigation and other reasons. A Quid Pro Quo? You bet it is! No question about that. Commercial housing developers must pay a legal cash kickback to the Mayor’s office of housing before they can build apartments or they have to offer some of them at affordable prices. If cannabis stores are not legally required to make kickback payments to the community, then there will likely do it anyway.
A licensed Massachusetts cannabis retailer enjoys perfect product-market fit on Day One. Product/market fit, also known as product-market fit, is the degree to which a product satisfies a strong market demand. (wikipedia).
The Massachusetts-based cannabis retail store has no need to advertise for customers – at least, not quite yet, but that might change when more stores open. Their customers will stand in line for hours.
Their profit potential is lucrative. Cannabis store operators report can Net over a million a year after investing from $50,000 to $100,000 in capital to open a retail store. It doesn’t take as much equipment as you may think. Reliable point-of-sale computers may be the biggest expense. Their profit margin is dependent on the supply-chain after other costs are fixed. If they grow their own weed to sell the startup cost increases dramatically, but they can make more money selling plants they grow. If they have to buy stock from a wholesaler, they will have less money left over after they sell it. The Black Market for pot moves more volume at a cheaper price, however; licensed shops are holding their own. In Massachusetts, they are actually doing very, very well! Their product prices have not changed in 15 months.
Obtaining perfect-market fit is like making all “As” on your report card. It simply doesn’t get better than that for a startup. A majority of startup businesses spend all their time trying to get to the perfect-market fit universe. It is a rare thing to achieve. The future looks bright for Pure Oasis owners to build their wealth in Black Boston and hopefully take some others up with them. Recently, the 40 licensed resellers of cannabis in Massachusetts grossed $550 million dollars in 15 months. On average, they are raking in $30,555 per day, before expenses.
Finding retail buyers is not a problem with Pure Oasis. There are plenty of customers for legal pot. If you thought that former sheriff Andrea Cabral or the former City Councillor Tito Jackson would be the first Blacks to open one a pot shop in Boston since they joined cannabis sales companies over a year ago, you were wrong. This first-mover status was not theirs’ to own.