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Bullboard - Stock Discussion Forum Canopy Growth Corp T.WEED

Alternate Symbol(s):  T.WEED.DB | CGC

Canopy Growth Corporation is a cannabis company. It delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7ACRES, Tweed, and Deep Space, in addition to category-defining vaporizer technology made in Germany by Storz & Bickel. The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis and... see more

TSX:WEED - Post Discussion

Canopy Growth Corp > The reality of Tokyo Smoke
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Post by Rotaluceps on Sep 02, 2022 2:26pm

The reality of Tokyo Smoke

Working at Tokyo Smoke: Employee Reviews | Indeed.com

 Since Fire & Flowers has declining revenue in many stores because of the competition, I was curious if Tokyo Smoke was doing well. What the best place than employees reviews. It seems that the competition has also its tole on Tokyo smoke. In another review one talk about the competition from the OCS. 

A good working climate will tell a lot about the success of cannabis stores. 

Read them all, link above, many say the same kind of things.

Lazy, complacent company culture hoping to rely on capital to outlast competition.

Cannabis is in a weird place. It used to be a guaranteed gold mine due to limitations on how many stores were allowed to open. If you opened a store it was basically guaranteed to see high demand. Now, more stores are opening than the market can support. Dispensaries can't compete on product because everyone is buying the same products from the OCS. Competing on price is a race to the bottom, to razor thin margins that only work for the highest traffic locations. Every company is trying to find their own "thing" to bring people in, and it's rough out there. You might think that sounds like something Tokyo Smoke should be responding to as a company, but as a retail employee you can bet you're the one who's gonna pay for it with cut hours and poor wages while being told every shift to increase sales, no matter how unreasonable the company's goals are. Meanwhile, your store is probably a mess, most of your co-workers are probably only there because weed is cool, and you can't even fix half the problems with the product databases because it's not your job and you don't have access even though all the independent dispensaries are handling it themselves just fine. Tokyo Smoke prioritises consistency across their stores even when this means inaccurate product information and inefficient operations. Unfortunately, trying to agitate for change or improvements is a great way to alienate everybody. This has created a complacent and lazy culture that's resistant to change, because even if the staff wanted to change something it'll never actually happen. The company is not trying to improve or refine itself, it's trying to get by on what it already has, and they're hoping you'll be complacent and not look for a better job. Tokyo Smoke is a big chain so it has a bloated corporate office. Add that onto how much money you're expected to make them. At the same time, your store is very likely not making a net profit, so don't expect to see any raises with experience or performance. You also will not receive benefits besides a staff discount. This is despite the fact that cannabis is highly regulated, meaning you need a background check and CannSell certification. You can get a better paying no-experience job elsewhere, with benefits, and NOT need to subject yourself to the extra requirements of cannabis. Unless you are extremely keen on a career specifically in cannabis and Tokyo Smoke is your only option, get a job with any other company. With all that said, cannabis is a bigger business than ever, and with all the dispensaries constantly opening there's a non-stop feed of opportunities to move into leadership far quicker than in many other industries. Sure, nine times out of ten it will be a store that isn't making money, but when you're interviewing elsewhere they aren't exactly allowed to ask. Expect it to take less than a year to gain a keyholder position, especially if you keep your eyes open for roles with other companies. This is the biggest advantage to getting a job at Tokyo Smoke - the fact you can use it to get a better job elsewhere.
Comment by Starsearcher80 on Sep 02, 2022 6:42pm
Wow, SO good to read that detailed description of Tokyo Smoke. It's bang on. Imho, the company is a bloated mess. (Hmmm, just like their parent.) They truly just don't get that they need to be COMPETITIVE and there are now any number of dispensaries TOTALLY eating their lunch.
Comment by Starsearcher80 on Sep 02, 2022 6:51pm
I also know of several Tokyo Smoke franchise owners who were/are desperate to dump this mess of a franchise. They're good people, now losing a TON of money on what they were lead to believe was a good opportunity, and now on the downside, the company doesn't seem to care at all.
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