Progress Report: 12.3.21
Grasshopper Family,
It's December!
Wait...it's December? How this year has flown by...and I am BLOWN away with all that we have accomplished!
This was another incredible week.
So, let's talk about my favorite aspect first - the people. Bret's wife (Hilary) is an artist. We chatted when this all began and she started working on a number of paintings for Grasshopper Farms. You might remember that Hilary saw the iron grasshopper piece and she and Bret were able to pull over and buy it. It now sits perfectly outside the entrance of Building 1. Well, she completed the first painting! And it is AMAZING! Check it out!
At this point, all of the product is now in Building 2. We have a room full of biomass and three rooms filled with premium flower that we are now going through the process of preparing for testing and packaging.
Biomass (commonly referred to as bio) is something that you may remember was an opportunity in the business plan, but not something we would pursue if it were to propose a conflict to our core competency - premium flower. Well, the team crushed it and we were able to harvest plenty of bio. I am VERY proud to announce that we have already confirmed $1.5MM in bio sales and another $400K should be received next week! And, we should have a steady flow after that until it is gone. That means we will be close to $2MM in revenue by the end of next week!
We also have test results for all strains! 90% of the product is more than 20% THC! And the strains below are 18% and above. Also, they are DELICIOUS! Let's go a step further...our terpene profiles (commonly referred to terps) are AWESOME! Why does this matter, you ask? Well, let me tell you!
Flower sales usually focus on THC, the name, what it looks like (without any magnification), and what it smells like. Then, they ask if it is indoor or outdoor. This is the very early new to market way of assessing product, BUT, we are already changing the market. Retailers try to hit us by asking the price for our outdoor flower and expecting it to be less than indoor. But then we turn that right back to them in asking about how important the cannabinoid profiles and terpene profiles are to them and their customers. Then we ask how important the trichomes are. Trichomes are where all of the magic is stored. And our trichomes are incredible...but they require magnification to truly appreciate them!
The conversation changes in an instant.
Suddenly, we are talking about premium flower grown on an outdoor farm...and the fact that it simply doesn't exist in retail. And they want it. In fact, some were almost upset when they saw totes on social media, thinking we were already selling to retailers. Nope! Not yet! But, it is imminent.
Right now, the team is moving the flower through an outer leaf removal process, quality control, hand trimming, and then sorting it into the bulk packages for testing - then awaiting final packaging. Check out the tables of our amazing team doing all of these steps and keeping track of it all! And it is A LOT to keep track of!
Speaking of packaging. Bret is on the packaging machine and bagged our FIRST TWO bags! The first is a test bag that we will use to keep the product for a week and then open it and perform a thorough inspection. The second is our ACTUAL wholesale packaging! Be sure to check out the front and the back! The back has a very cool detail.
We are very well positioned as we are about to go to market with our premium flower. Adam has been crushing the sales conversations. He and I did a pricing exercise with Kayla this week to ensure our sales conversations are relevant and specific to each retailer. We analyzed individual prices at each location and then the entire market. And, oh man are we ready to continue the conversations that Adam is already having! Based on our analysis, our ~24% THC flower will wholesale for $2,400 per lb. The price can and will fluctuate weekly...sometimes daily. But, we are well positioned!
The final shots this week are (once again) of the beauty surrounding us outside. AND, an incredible shot from our C360 partners of the most magical sunkissed drop of dew. Absolutely incredible.
I keep thinking we will start to run low on content to share each week. Maybe that we would have to move back to a frequency that is event based rather than weekly. Nope. We continue to experience so much that we want to share.
This week ends how it began - with the people.
Our team worked INCREDIBLY hard over this year and even more so during harvest. So, now folks are taking turns with some very well deserved time off.
Grasshopper Farms does not exist without this amazing team. Grasshopper Farms does not exist without each of you reading this.
Which is why...
We are Grasshopper Farms. Together.
