GREY:WSLFF - Post by User
Post by
Skymanon May 30, 2019 8:50pm
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Post# 29787169
Operating Results for the First Store
Operating Results for the First StoreThe March 30 Financials have been posted.
The first store in Warman did $73,000 sales in the first month and a bit. That's roughly $876,000 annual, which is in line with the benchmark in established legal markets in USA at 1M per store. If you don't grow your own (yet), the cost of goods sold is roughly two thirds, which brings gross profit down to $333,000 on average. Westleaf now has three stores going, so that equals about $1M cash per year. During this early growth stage, corporate "selling and administrative" is eating up about $12M per year, so Westleaf will need 36 operating stores to turn a steady profit year after year. They have about fifty stores awaiting license and approvals. If they can build this brand and execute, they will do okay in this retail space. Any money from cultivation and extraction will be a bonus, but not likely for this fiscal year.