Brock University professor predicts big bucks for cannabis stores

CKTB - NEWS - Cannabis retail stores

With brick and mortar pot shops set to open on Monday, a professor at Brock University is predicting a major windfall for the store owners.

Associate Professor at the Goodman School of Business Michael Armstrong says the physical stores will likely be a big hit with consumers given the data from other provinces.

"So I can easily see the stores in Ontario, there's going to be 25 so still relatively few given our much larger population, could easily do a million to a million and a half - somewhere in that range - sales per month."

Armstrong says the physical stores will prove popular with new users looking for some advice, and even for experienced users who prefer to use cash to buy cannabis instead of leaving an electronic record through the online store.

He tells CKTBB, in Quebec 80% of sales were completed through the physical stores.

The only caveat is that some of the proposed stores will not be ready to open on Monday. Two licence holders still haven't submitted plans for approval.

Locally, The Niagara Herbalist in St. Catharines has full approval to move ahead, while Choom Cannabis in Niagara Falls has just closed the public consultation phase, but doesn't have the official go-ahead yet.