Private pot retailer still eyeing Windsor for store location to open next April
A recreational marijuana retailer is still eyeing Windsor as the location for at least one private pot shop once the stores are legal in Ontario next April.
President of Starbuds Canada, Dave Martyn, said having private retail will lead to a "massive economic boom" for the province.
"We're in full-scale development right now," said Martyn.
The company was founded in the U.S. in 2013, and became one of the first to receive licensing in Colorado when marijuana became legal there. Starbuds has shops all over the state, and eventually expanded in Canada.
Ontario released specific regulations for private stores last week. Retail storefronts must stand alone, and can operate from 9 a.m. to 11 p.m.
Martyn praised the rules, calling them "very business friendly."
At this point, Martyn couldn't pinpoint an exact location for his potential Windsor shop, but said he wants to be near grocery stores and big box stores to give consumers a traditional shopping experience.
In the meantime, the City of Windsor has not yet committed to either opting in or out of having retail stores. The decision will be left up to the incoming city council.
Half a million dollars
However, Martyn said the application process for just one store could be very costly.
"I don't know where Ontario is going to come out, but I think if you want to be a cannabis retailer, you should anticipate half a million dollars as your entry cost," said Martyn.
Still, he isn't worried about the return on his potential investment.
Martyn said he attended a cannabis conference recently in Las Vegas, where the cannabis business is "busy 24/7," and added that he's heard tax revenues for the state of Nevada have been "phenomenal."
"To me it's a great investment opportunity, and I think Ontario is really going to be the mecca for cannabis in Canada going forward."
The province says applications will be accepted starting Dec. 17. Private retail stores will be legal starting April 1, 2019.
