A.G. Gancarski
Medical cannabis continues to be big business in Duval County, and Saturday sees a new player entering the retail space.
AltMed Florida will open its “MÜV™ Medical Cannabis Dispensary” Saturday, to be located at 1550 Hendricks Ave., Suite 4 in the San Marco area.
The space was a former massage therapy clinic; now it will contain healing of another type, including flower, shatter, and concentrates of various types, priced competitively with the other major vendors in-state.
AltMed, based in Sarasota, has some catching up to do with big players like Surterra, Trulieve, and Curaleaf, all of which are well-entrenched in the area. However, the company is already fourth in market share.
However, as the first dispensary in San Marco’s commercial corridor, they are well-positioned, and their relatively late entry into the retail space in Florida has allowed the company to learn from what earlier entrants did (and didn’t do) right.
One key step taken: a large bank of checkout stations, allowing quick processing of orders.
Inside the backroom of the store, where the transactions happen, are six regular checkout stations, and two express lines, suitable for those who pre-order, or who show up and have enough familiarity with the product to know what they want.
Marketing director Todd Beckwith noted that some products, such as a transdermal patch that lasts for 72 hours, metered inhalation devices, and water-soluble tinctures, are unique to the AltMed line.
Beckwith, who like many executives with the company comes out of the traditional pharmaceutical industry, knows that the key to a product launch is novelty.
Novelty is especially key given that in Florida’s competitive space, operating costs are such that price wars are not an option (though promotional battles are).
The company is expecting a ramp up through the end of the year, with 15 new locations planned, targeting customers in all parts of the state.
With just four current locations, Beckwith noted that some customers have long drive times, which look to be a thing of the past if all goes as the company hopes.
As is the case with most dispensaries, consultations on-site are available.
Given the panoply of conditions cannabis addresses, solutions are often by necessity individualized. AltMed stresses the importance of research and development, suggesting that further product innovations will emerge.
The company is licensed in Colorado, Pennsylvania, Arizona, Puerto Rico, and Canada, with more states and countries expected. It’s a sign of the increased global footprint of cannabis.
Though the company is ramping up operations in the state, it hasn’t been scared to weigh in on issues in the policy space, such as the proposed THC cap on smokable cannabis.
Regarding the scientific study that House sponsor Rep. Ray Rodrigues produced in favor of the 10 percent cap, a representative of the company noted that the study was compromised by variability issues.
