Matchmaker 420 is platform that aims to solve the vendor system volatility problem that plagues many dispensaries.
“The traditional way a dispensary gets their product is when a vendor shows up with a backpack and pulls out what’s available,” said Scot Candell, founder and CEO, Matchmaker 420. “The vendor hates it because they are going door-to-door with a lot of product on their back and the dispensaries hate it because they have wait for someone to show and hope they have the right stuff.”
To solve the problem, Matchmaker 420 created a ‘Amazon-like system” that allows a customer to find what they need, click a button, and the product shows up in 48 hours.
In order to make it work, Candell said the platform needed to objective data. To certify and rate the products, so the dispensaries knew they were getting what they ordered, they set up a testing lab.
“It took two year to set up the labs and get the software where it needed to be,” he said. Currently, Matchmaker 420 has labs in Navato, Calif. and one in Santa Ana, Calif.
The Matchmaker 420 labs are track-and-trace compliant labs and test for THC, CBD, terepnes, residual solvents, mildew, pesticides, heavy metals and water content.
Matchmaker 420 will only list businesses that have state licenses. “Everyone has to have a license,” said Candell.
The site has 400 users and there are 150 products available. “People put their products up, the quantity, the price they are looking for and it tracks their inventory and reduces the number as the products get sold,” he explained.
The seller determines how much of the product will be available; there is no limit and the current law allows for sales equaling the number of people in a collective in a state such as California that is still in medical mode. Pricing is determined by the seller, but there is mechanism for a buyer to make an offer and negotiate a better price.
“There’s also credit terms available,” said Candell.
Matchmaker 420 doesn’t take payment on the platform. “The two companies arrange payment by themselves,” he said. “As out name suggests, we are just the matchmaker.”
It’s free to list on Matchmaker 420 and the company does not take a percentage of the sale. The business-model relies on advertising and eventually premium listings. “We’re just trying to get as many people using the platform as possible right now,” explained Caldwell, who said the platform “was growing nicely.”
The Matchmaker 420 labs do have a fee. Basic fees are $49 per test. A SLAMM (Safety Lab Tests of Medical Marijuana) fee of $99 is for the Gold level and the platinum SLAMM level is $199. “Clients are welcomed to use their own labs,” said Caldwell. “When they use our lab, we put the results up on the site,” he said.
The platform will integrate with most dispensaries POS systems so “they don’t have to leave their platform to order.” The system is geo-based and only shows products that can delivered to the dispensaries’ location.