Cannabis Pharmacy | CBD and Cannabis: Boost Your Pharmacy’s Sales with Expert Support – Monthly Mastermind June 2024

Cannabis Pharmacy | CBD and Cannabis: Boost Your Pharmacy’s Sales with Expert Support – Monthly Mastermind June 2024

Website: www.cannabispharmacy.com
Support: (888)-795-1549
support@cannabispharmacy.com

Josh Kent | Co-Founder
852 DuPont Rd, Charleston SC 29407
Josh’s Phone: 843-300-2050 – PBU members can call him anytime.
Email: josh@coastalcannabis.com

Steve McCarthy | Co-Founder
Email: steve@coastalcannabis.com

Social Media:
https://www.facebook.com/thecannapharmacy
https://www.youtube.com/@TheCannabisPharmacy
https://www.instagram.com/thecanpharmacy/

Core Value Proposition Summary:

• Expertise: Enthusiastic CBD/cannabis experts, primarily working with independent pharmacies.
• Credibility: 7 years in business and works with over 500 independent pharmacies, family-run, with $2M+ annual sales.
• Product Range: Distributor of high-quality CBD products (oils, edibles, topicals, etc.) with 400+ SKUs.
• Flexibility: Options to buy as a wholesaler or join an affiliate referral program. High income potential with 40-50% margins.
• Top Brands: Partners with top manufacturers like Green Roads, known for comprehensive testing and high-quality products.
• Legislative Support: Knowledgeable about varying state laws, offering support for both conservative and liberal approaches.
• Customer Service: VIP support, staff training, marketing materials, no minimum order size, and a 90-day exchange policy.
• Welcome Kit: Available for new customers with samples and marketing materials. Request your free welcome kit today with samples and marketing materials ($50 value)!
• Low Investment to Start: Free displays & marketing material, no minimum order size ( & remove no min order size from customer service)

Click HERE to download their recommended pharmacy brochure.

Summary:

The Cannabis Pharmacy, represented by Josh Kent and Steve McCarthy, discussed their CBD business model aimed at independent pharmacies. They emphasized their expertise in CBD products, with over 400 SKUs, and their support for pharmacies in navigating state-specific regulations. The brothers highlighted their success in educating pharmacists and providing compliant products, noting that some pharmacies earn up to $5,000 monthly. They stressed the importance of proper dosing and product selection, offering training and marketing materials. The Cannabis Pharmacy also supports an affiliate program for pharmacists hesitant to stock THC products directly.

Action Items

• Provide contact information for Josh and Steve to meeting replay viewers.
• Send catalog and literature to interested pharmacy members who request it.
• Email Kate with specific California law details after researching state regulations.
• Send roll-on product sample to Scott for testing.
• Follow up with Kate via email to answer her questions and potentially schedule a consultation call.

Authority

• Josh and Steve are the founders of The Cannabis Pharmacy, providing products and education to pharmacies.
• Scott and Heather appear to be representatives from Diversified Group, facilitating the introduction.
• Pharmacists are the potential customers who would make purchasing decisions for their pharmacies.

Budget

• A $500 starter box with top 10 selling SKUs was recommended for pharmacies to begin with.
• Margins for products are typically 40-50%.
• Some pharmacies earn up to $5,000 in revenue from these products.
• Most products are priced under $40, with many under $20.

Competition

• Dispensaries were mentioned as an alternative, but The Cannabis Pharmacy products are positioned as more accessible and suitable for pharmacy customers.
• Vape shops and gas stations were mentioned as less desirable alternatives for customers seeking these products.

Objections

• Some pharmacists may be hesitant to carry THC products due to legal concerns or personal beliefs.
• Concerns about drug testing for customers were raised.
• Time constraints for pharmacists to educate patients about the products.

Need

• Pharmacies are struggling with DIR fees and looking for new revenue streams.
• Pharmacists need education and support to confidently sell these products.
• Keeping up with changing state legislation regarding cannabis products.

Questions

• Can you discuss the laws in California?
• Can you show and tell a couple of your top products?
• Do pharmacies sell these online?
• Do you sell direct to consumers, and do you sell on Amazon?

Sentiment

• The overall tone of the call was positive. The speakers from The Cannabis Pharmacy were enthusiastic about their products and the potential for pharmacies.
• The Diversified Group representatives seemed supportive and interested in the offerings.
• A positive testimonial was shared from a pharmacy owner (Jennifer Birch) at the end of the call.

Timeline

• No specific purchasing process, approvals, or timelines were shared by clients in the transcript.
• The Cannabis Pharmacy outlined their onboarding process, including initial zoom calls, product selection, and staff training, but this was not from the client perspective.

Outline

Introduction and Overview of The Cannabis Pharmacy

• Speaker 1 introduces the monthly mastermind series and the new exhibitor, The Cannabis Pharmacy, featuring Josh Kent and Steve McCarthy.
• Josh Kent and Steve McCarthy discuss their family operation and their passion for CBD, emphasizing their medical approach to cannabis.
• The focus is on helping pharmacies start a CBD business, leveraging their expertise and high-quality products.
• Speaker 1 highlights the breadth of products offered by The Cannabis Pharmacy, with over 400 SKUs.

Early Success and Market Strategy

• Josh Kent shares the early success of The Cannabis Pharmacy, starting in 2017 before CBD was common in pharmacies.
• They initially targeted vape shops but soon shifted focus to independent community pharmacies, educating and supporting them.
• The company caters to the needs of busy pharmacists, offering support, education, marketing materials, and profitability.
• Speaker 1 praises their legislative knowledge and the importance of understanding state regulations.

Legislative Challenges and Adaptations

• Josh Kent and Steve McCarthy discuss the complexities of state regulations, such as THC content limits and testing requirements.
• They emphasize the importance of compliance and the need for products that meet state-specific regulations.
• The company adapts its product offerings to meet changing legislative requirements, ensuring pharmacies remain compliant.
• Speaker 2 explains the impact of legislative changes on product availability and the importance of staying informed.

Pharmacy Support and Training

• The Cannabis Pharmacy provides ongoing support, education, and marketing materials to help pharmacies succeed.
• They offer one-on-one training and continuous support to ensure pharmacists are comfortable and knowledgeable about CBD products.
• The company focuses on building relationships with pharmacists, providing an open line of communication and personalized support.
• Speaker 1 highlights the importance of having a reliable partner to guide pharmacists through the CBD business.

Product Offerings and Customer Success

• The Cannabis Pharmacy offers a wide range of products, including THC, CBD, and THC-free options, catering to different patient needs.
• They emphasize the importance of starting with the right product and dosage to ensure patient satisfaction and repeat purchases.
• The company shares success stories of pharmacies that have seen significant revenue growth by implementing their program.
• Speaker 2 and Speaker 3 discuss the importance of personal use and staff training to effectively promote CBD products in pharmacies.

Marketing and Sales Strategies

• The Cannabis Pharmacy provides marketing materials, such as brochures, signage, and display cases, to help pharmacies promote their CBD products.
• They recommend starting with a $500 starter kit of top-selling products to get pharmacies off to a strong start.
• The company encourages pharmacists to educate their staff and engage with patients to build trust and drive sales.
• Speaker 1 and Speaker 3 discuss the importance of having a well-stocked display and engaging with patients to increase sales.

Addressing Common Concerns and Misconceptions

• The Cannabis Pharmacy addresses common concerns about CBD, such as its legality, effectiveness, and safety.
• They explain the differences between THC and CBD, and the benefits of combining the two for better results.
• The company emphasizes the importance of starting with a low dosage and gradually increasing to avoid negative experiences.
• Speaker 2 and Speaker 3 discuss the importance of proper dosing and patient education to ensure successful outcomes.

Expanding Product Lines and Market Opportunities

• The Cannabis Pharmacy continues to expand its product offerings, including sexual health and pet products.
• They highlight the success of their pet products, which have become a significant part of their business.
• The company focuses on bringing unique and effective products to the pharmacy market, filling gaps in current offerings.
• Speaker 2 and Speaker 3 discuss the potential for growth in new product categories and the importance of staying innovative.

Affiliate Program and Referral Opportunities

• The Cannabis Pharmacy offers an affiliate program for pharmacists who want to refer patients to their website without carrying inventory.
• The program allows pharmacists to earn a commission on sales generated through their referrals.
• The company provides marketing materials and support to help pharmacists promote their affiliate program effectively.
• Speaker 1 and Speaker 3 discuss the benefits of the affiliate program and how it can help pharmacists expand their CBD offerings.

Final Thoughts and Contact Information

• The Cannabis Pharmacy team emphasizes their commitment to supporting pharmacists and helping them succeed in the CBD business.
• They provide contact information and encourage pharmacists to reach out with any questions or to request more information.
• The company offers a free introductory pack to help pharmacists get familiar with their products and services.
• Speaker 1 and Speaker 3 thank the participants and express their excitement about working with pharmacists to grow their CBD businesses.