Ontario Cannabis Stores Expected to Each Take in $1.25M a Month

Article by Samantha Craggs, CBC News

Ontario cannabis stores expected to each take in $1.25M a month Social Sharing Facebook Twitter Reddit LinkedIn That estimate by a Brock university professor is probably low, says an industry expert Samantha Craggs · CBC News At one point, Hamilton had more than 80 illegal dispensaries. They were so lucrative that police would close them, and they'd open again down the road. (Dan Taekema/CBC News)

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.

Read the full article here.

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