Legal Ontario cannabis shops will average as much as $1.25 million per month in sales when they open in April, says a Brock university business expert.
And some insiders say that estimate is too low.
Michael Armstrong, an associate professor at Brock, says Quebec’s dozen retail cannabis shops are making about $900,000 a month in sales, and they have lower prices than Ontario shops will.
Ontario’s 25 stores — when prices, locations and population are factored in — should each be million-dollar-a-month businesses, he said.
“Obviously, it’s going to vary,” said Armstrong, who teaches in Brock’s Goodman School of Business.
A cannabis store in Yorkdale, for example, will be more high end, while the St. Catharines store will be “more your neighbourhood pot shop.” This will be good for business, he said.