Sunday, August 16, 2020 12:27:19 PM
The Jefferson County grow complex will be coming on line by year’s end which will help immensely. But they still will need at least another 750,000 sf by the middle of 2021. It’s an agricultural business. When you view all their competitors you realize they just haven’t gotten the message yet. Depth equals profits. Ask any farmer.
You grow soybeans on 1000 acres. The revenue from half of it just covers your expenses, the rest is where you make your profits. You need lots of grow with 55 outlets. Look at LHS with 36 dispensaries and only 300,000 sf of grow. Ridiculous. No wonder their weekly numbers pale to Tru. And that’s a fact in every competitor in Florida. And grow facilities are expensive. When your capital spending is spread over a multitude of states, then you get the true nature of the problem.
And remember, Tru was founded and still owned by long time nurserymen. Not financial wizards.
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