Hello Cannaebiz fans, and welcome back for another great episode of the podcast.
This week, on Ep 5-Abi Roach, we are joined by Canadian cannabis pioneer Abi Roach, who has over 20 years of experience in the cannabis industry.
To listen to the episode, all you have to do is click here, and sit back and enjoy.
Abi Roach
Torontonians might recognise Abi from setting up the Hot Box Cafe in the Kensington Market area of the city.
For over 20 years the cafe was a bustling foreground for the cannabis industry, and Abi was able to ride of the wave of legislation, as well as navigate some of the nuanced laws in Canada at the time.
Abi has also worked for the Ontario Cannabis Store at a very high up level for several years after, before branching out into the industry.
She has decades of knowledge, that Wade was barely able to scratch the surface of.
Canadian Cannabis Issues
With the Canadian cannabis industry hitting the 5 year mark, there are many questions and more questions as to how to make the industry more sustainable.
Despite cannabis adding over $43.5B to the Canadian GDP since its inception, Canadians have also lost over $131B investing in bad cannabis players and companies.
Was there a myopic vision to begin this legal process, or was it that big business just got it wrong?
With a recent poll suggesting that over 60% of Canadians are now buying from licensed retailers, has the worry about the grey market started to dissipate?
Prices of cannabis flower have also started to drop dramatically, with average prices per gram around $3.50 in 2023, a far cry from the $11.78/ gram that retailers were hauling in during 2021.
Social Consumption Sites
One of the main issues we have previously discussed on podcasts, was the lament over the laws for legal consumption sites in Canada.
How can someone run a business that caters to people who also want to smoke and enjoy a little herb?
According to Abi, there is a lot more potential to this than people realise.
Make sure you listen towards the end of the podcast, when Abi opens up about the possibilities of social consumption in the great white north.
Denver Weed
One of the things we DON’T talk about in this episode is the success story of the city of Denver, since it was legalised in 2012.
While many in Canada are worried about the ebs and flows in the finances, Denver has already gone through many of these bumps, and should serve as an illustration of ‘what to do.’
The Mile High City got even higher this month, when it was announced that the city has raised over $500m in tax revenue since legalistion, on approximately 5.7B in sales.
Adding to this was the further $300m in sales in August 2023 alone, and it certainly is starting to look high in Colorado.
Just take a look at some of these graphs that show the successful rally of the government to balance dispensaries with production.
While there was a mighty peak from 2019-2021, things seem to have settled into a nice groove now, as consistency is starting to emerge in the stats.
Now looking at where the city SPENDS its tax money is another matter, as many school boards now have enough money for after school sports programs to keep kids in the community active until the 2050s’.
For many countries or states that have made shrieky claims that the ‘cannabis industry is done’, take a look at how Denver has started to turn their path towards greatness.
Why have they been so successful?
We Want You
As we have mentioned before, we want to talk to you if you have some great stories about the ‘cannots’ of the cannabis business?
Why are things so difficult when they were supposed to be legal?
What are the main problems affecting your business?
Reach out via our website, and we would love to have you on!