According to recent statistics, retail sales of legal adult-use cannabis in Canada increased to nearly 318.7 million Canadian dollars ($246.9 million) in June 2020 growing more than 1.7% from the previous record set in May 2019. The staggering growth in cannabis consumption indicates a steady and fertile market space for newcomers who want to establish themselves in the cannabis retail business.
How To Start My Own Cannabis Retail Biz In Canada?
Do your research – everything starts with thorough research. There are plenty of different classes of cannabis licenses available in Canada. Confirm your reason for choosing a cannabis retail license service and why you need a cannabis retail license in the first place.
Hire A Retail License Consultant – Retail margins are lower than bulk and wholesale margins but they’re more streamlined and consistent. Hire a retail license consultant who knows the key insights about the cannabis industry in Canada. Secondly, give your consultant the valuable info he needs to figure out whether a retail license will suit you or you should go for a different class of license. Health Canada provides only a single type of license to one organization or household so choose carefully and after a thorough discussion with your cannabis retail license consultant.
Secure A Facility & Hire People – A retail store will not function under a single individual. You need staff and trained individuals to help you carry out your daily set of business with ease. A proper facility must also be prepared to match the standards that have been mentioned by Health Canada to acquire a retail license. Before you do all that, name your company and spend some part of your investment on marketing it to your expectations.
Apply for a License & Insure Your Business – After you’re done with the registration process and have set up your retail store, it is time to apply for a license. The top cannabis retail license consultant in Canada will help fasten this process and get you the much-required license to kick start your journey. Don’t forget to get your business insured. These things don’t happen every day and you must not take chances with your assets and heavy investments.
Top Cannabis Retail License services – contact a professional today!
