With 24 dispensary locations in Florida, one in Pennsylvania and new locations opening in both states later this year, Fluent Cannabis (NASDAQ:FLNT) is a growing company. But reward certainly didn’t come without risk to get to where it is today.
The Risk
Fluent Cannabis got its start in 2016 in Miami as a medical marijuana business called Knox Medical. As the boom in legalization over the past few years contributed to the growing demand in the adult-use market, most cannabis companies were faced with a big decision: Take a risk by investing in expansion and rebranding, or just keep on keeping on. Cansortium opted for the former. It began by hiring Oswaldo Graziani as creative director. His first major project? To work on a total rebrand.
Over the course of essentially only three months, Graziani and his team immersed themselves in the development process. By working with branding experts from big-name companies like Nike, Adidas and HBO, focusing on high-quality design and expanding its product options, Fluent was created.
So how did Graziani and his team take such a big risk? Because he knew it would work. “I believe investors are not solely looking for square footage, production capabilities, a high-quality product and great customer service. Of course they want to check all those boxes, but additionally they’re searching for cannabis companies with the potential of becoming cannabis brands,” said Graziani when he reported that sales went up almost immediately.
The Rewards
Using THC, CBD and blends of the two, Fluent offers a variety of products in the form of whole flower, edibles, inhalants and topicals. Fluent seeks to make things simple for its customers by offering drive-through and curbside pickup as well as delivery in select counties within Florida’s panhandle. Deliveries are free on all orders over $200.
The company aims to engage customers with a range of promotional offers. Its Early Risers promotion allows anyone to receive 10% off their entire order within the first hour of business — not once, not twice, but as many times as they’d like. Some of the standard discounts available are 20% off for industry, veterans and spouses, and a Birthday Club discount offers 10% off all products during the entire month of your birthday.
One of its most successful deals is its First Timer’s Deal of 50% off your first purchase of $200 or less, which includes a $10 credit for any Fluent merchandise or accessory. These promotions help Fluent develop and maintain customer loyalty.
Moving Forward
Fluent also recently brought on a new CEO, Robert Beasley. Originally from Pensacola, Florida, Beasley has an extensive background in law with years of experience advising several companies on how to develop and grow their operations. He has been noted for uplifting Fluent’s goals and streamlining the team’s strategy toward the future of the cannabis industry.
“The recent agreement to expand our Florida cultivation capacity and the successful reorganization of our Michigan operations are two examples of the progress we are making in creating long-term shareholder value,” Beasley stated when the company announced his appointment in late September 2020.
Follow Fluent Cannabis on Instagram to access some of its great giveaways. And for investors who want to know more, visit https://investors.getfluent.com/.
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