Startup Grind put on an event last month in Calgary. The evening discussed the different ways of making am income through cannabis. All the guests had the chance to hear from three keynote guests:
The Market Itself
The first was the President of the Canada Cannabis Chamber and former Alberta MLA: Lindsay Blackett.
Blackett shared his thoughts on the current state of the market:
- First, Blackett suggests to founders to look into retail instead because it is too late to invest in cannabis stocks.
- Second, Alberta roughly equates to half the country’s market due to the fact that the province will most likely be production heavy. Which suggests that founders will still have time to find their niche.
- Third, public viewpoint plays a large part in the successful integration of recreational marijuana into society.
- Lastly, clients should feel welcomed in a retail space. If you can successfully create that feeling for clients then there is a place for you in retail.
The Power of Alberta
Second, Kujath talked about the ‘Alberta Advantage‘ which represents Albertas agricultural industry. This is the reason that Lethbridge to be a great location the production of Cannabis. Founders like Kujath are working to solidify their brands as top quality producers.
Lastly, Kujath spoke on the asset of branding over production. Therefore, the next focus for founders is branding because it will play a crucial role in growth of any business.
The End User
Lastly, Walker McKinley has a background in retail design and client culture. Taking their years of experience, they are working with founders to help develop a welcoming experience for their clients.
McKinley believes in the importance of culture in a city. Which means that brands should work closely to create a great experience in the cannabis market in the city they are located in.