Location: Los Angeles, California
David Barakett had already solidified his career in real estate by becoming the youngest owner of a Century 21 office before deciding to launch a new business, ShowGrow, in California’s medical marijuana industry in 2015. Within a year, Barakett’s cannabis business grew to three locations in California and became one of the few to cross state borders and establish itself in Las Vegas, Nevada. Now he is looking to step beyond medical sales.
“Currently, ShowGrow only sells medicinally, but with recent changes in California’s legalization and as we grow nationally, we will be expanding into the recreational market as well making all the necessary adjustments to conduct business on the recreational side,” he says.
ShowGrow isn’t just a clever title. Barakett built his stores to literally show the grow it is selling (see Page XX for more on ShowGrow).
“It’s always been our focus to show transparency to our patients, as it allows us to showcase one of our core ideals, an inspiring concept for the ‘show’ in our ShowGrow name,” he says. “It provides a more hands-on approach for consumers, and allows them to get to know the product and industry for themselves.”
Barakett says the model has proven itself in the California and Las Vegas markets and he anticipates the upcoming removal of gray market competitors will stimulate his business further.
“The transition from medicinal to recreational will cause the black market to become almost obsolete,” he says. “The surge in people coming in for recreational purposes will happen at dispensaries across the board.”