Rhett Jordan knows what it takes to succeed in the cannabis industry. As he launches his latest venture, Greatest Hits Cannabis Co. in Massachusetts, he’s drawing from the lessons he learned from founding Native Roots Cannabis Co. in 2013. With 20 dispensaries across the state, Native Roots is now Colorado’s largest recreational cannabis business.
“I’ve opened 27 stores around the country now, so I’m no stranger as to what to expect,” said Jordan, who also owns dispensaries under the Garden Variety name in Manitoba, Canada. “There’s a lot to be learned out here.”
Though Jordan plans to open Greatest Hits stores in multiple states, he doesn’t have plans to expand the Native Roots brand outside of Colorado. Instead, he plans to refine and perfect his legacy company’s operations.
For Greatest Hits Cannabis Co., Jordan is teaming up with Joe Villatico, a former motocross racer who built vertically integrated CBD supplier Point3 Farma before stepping into THC-inclusive cannabis and co-founding Greatest Hits. They plan to launch three stores by the end of the third quarter, with the first location opening this spring.
Greatest Hits stands to benefit from a robust cannabis market in Massachusetts. By the end of August, adult-use cannabis sales in the state reached more than $2 billion, nearly three times that of the previous year’s sales and five times that of sales during 2018, the first year marijuana was legal, according to Statista.com.
Greatest Hits will create hundreds of jobs in the three local communities where its first stores will open, and provide consumers with premium products in a unique retail environment. The company is on a mission to give consumers access to exclusive strain genetics and an immersive shopping experience. DJs, solo musicians, or bands will perform daily for customers. Greatest Hits also plans to partner with local communities to bring live music and events to the neighborhoods it serves.
“Music and cannabis are synonymous in that creativity and socialization are part of recreational drug use,” Jordan said. “Alcohol and marijuana help to enhance the experience. A lot of artists are already backing cannabis liberation.”
Jordan and Villitico have plans to expand Greatest Hits into three to five more states along the Eastern Seaboard. They are currently renovating a 280,000-square-foot mill into a cultivation and manufacturing facility.
“Our growth strategy is to optimize the market using the vertical integration model and bring in industry expertise from Colorado to add a more efficient and better quality product to the market in Massachusetts and the East Coast in general,” Jordan said.
Like Native Roots, Greatest Hits will offer consumers its own brands in addition to stocking other brands popular in Massachusetts.
“Quality is the first thing I look for when deciding which products to put on the shelves,” Jordan said.
“I ask, ‘Is this something my clients are going to enjoy and make them want to come back for more?’”
It’s also critical that companies whose brands are stocked in Greatest Hits stores have the ability to keep their products on the shelves.
“Professionalism and consistency with that brand is a big factor in our decision to stock someone,” Jordan said. “There’s a balance between desired sellout and just not keeping up with traffic and sales, which is a frustrating experience.”
The goal is to appeal to consumers with varying experiences using cannabis as well as differing tastes in music.
“The point of Greatest Hits isn’t just to be rock ’n’ roll — it’s the greatest moments, greatest songs, whether it’s country or jazz or whatever,” Jordan said. “We’re here to help you be your greatest — we want to bring that out in you.”