Marijuana Business Magazine April 2019

Marijuana Business Magazine | April 2019 102 Come Back Daily sees about 150 customers each week, Phan said. He admitted the number is on the low side, saying every day consumers are still learning about CBD. The store is supplementing its foot traffic revenue by organizing events and online sales. Phan projects revenue for 2019 to reach $1.5 million—an estimate he called “pretty conservative.” Creating a CBD Hub Come Back Daily landed a sleek, spacious spot on Broadway in Lower Manhattan thanks to the real estate ties of co-founder Gary Tse. The space—complete with exposed white brick walls, lofty ceilings, green-tinted lights, a multitude of plants and tables—offers roughly 2,000 square feet for customers to shop and use products while working on their lap- tops at one of the tables or hanging out on the main floor. Customers won’t find any products behind glass cases at Come Back Daily, and that’s intentional, said Waseem Ghattas, Come Back Daily’s other co-founder. “I hate the vape shop model of having products in glass cases and not being able to touch them. There’s no way that’s going to make some- body feel comfortable with a product they’re going to ingest, unless they’re already used to it—like with tobacco,” Ghattas said. Ghattas and his partners aim to make Come Back Daily “the Sephora of CBD,” he said, referring to the upscale cosmetics retail chain that provides samples for clients to try before purchase. In other words, Come Back Daily is a place where people can not only purchase CBD items but also get education, hang out and actually try the products. In addition to products stocked on shelves in boutique fash- ion, customers can visit the shop’s “discovery bar,” where they can engage with employees about what each item does and, in some cases, sample before buying. Curating the CBD Experience Come Back Daily markets itself as “the first curated CBD shop in Manhattan.” Despite landing such ample space in downtown Manhattan, company executives set aside just a few shelves and a small display refrig- erator for selling product. Instead of boasting the widest pos- sible selection, the shop focuses on featuring brands with appealing pack- ages and labels as well as products that are unique in the industry, Phan said. He is especially interested in stocking items from local companies and those with proprietary or unique manufacturing processes around areas such as extraction, carrier oils and ingredients. “I worked for a manufacturer, so I saw what was coming through the pipeline in terms of white labeling opportunities and projects,” he said. “They’re all basically selling the same thing, just with their own labels. I didn’t want that for my customers.” Come Back Daily claims to be “the first curated CBD shop in Manhattan,” offering a sleek retail space for customers to learn about, buy and use infused products beyond the dispensary and headshop setting. Here’s what you need to know: • Come Back Daily opened in No- vember at a spacious retail location in Manhattan’s Tribeca neighbor- hood, near Chinatown. The store offers more than 100 products from dozens of established brands and local manufacturers. • The founders of Come Back Daily are trying to break away from the vape shop model, where CBD prod- ucts are placed behind glass cases. They’ve created a “discovery bar,” where customers can learn about and sample merchandise. • Instead of boasting the widest possible selection, Come Back Daily focuses on selling brands with ap- pealing packages and labels as well as products from manufacturers with unique ingredients, extraction meth- ods and manufacturing processes. • To supplement limited foot traffic, Come Back Daily is partnering with other entrepreneurs and businesses to host brunches, exercise classes and other CBD-centered events. Come Back Daily is a place customers can learn about, try and buy CBD products. Courtesy Photo