Early data from Ontario’s first day of brick-and-mortar recreational cannabis stores suggest owning a pot shop in Canada’s most populous province is a multimillion-dollar-per-year business.
Edmonton-based retailer Fire & Flower sold roughly $50,000 worth of marijuana and related products from its Ottawa location on April 1, but according to data provided exclusively to Cannabis Professional from the point of sale (POS) software provider for eight of the nine stores open across Ontario on day one, some locations did even better.
The average daily revenue of more than 100 pot shops across Canada using Cova Software’s POS system is between $6,000 and $8,000, but the figure specifically for Ontario from April 1 sales is more than six times the midpoint of that range. Below are a few of the key sales metrics from the first day of Ontario cannabis retail stores:
- Average per-store revenue on opening day: $50,913
- Average per-store transactions on opening day: 867
- Average amount spent per customer in Ontario on opening day: $62
- Average daily per-store revenue across Canada (based on Cova’s 100+ customers in several provinces): $6,000 to $8,000