Article by Kerry Close, Time
Medical and recreational marijuana dispensaries produce an average annual revenue per square foot of $974, according to the 2016 Marijuana Business Factbook. Whole Foods’ yearly revenue comes in slightly lower, at $930 per square foot.
Pot probably has an edge over even premium-priced groceries because it’s easier to squeeze multiple varieties of the herb into a compact storefront than it is to pack in the bulkier food products sold by the grocer. Still, pot shops are challenged by the lack of existing rules and regulations surrounding the industry: They can run into problems with expensive operational licenses and the constant threat of police raids.
Marijuana stores’ popularity is growing fast: Sales from medical and recreational marijuana dispensaries could reach $11 billion by 2020. Legal sales of cannabis already outpace those of e-cigarettes, at $1.5 billion, and Girl Scout cookies, at $776 million. The spiked demand for legal weed even prompted the opening of a drive-through pot dispensary in Oregon this year.