This company talks about Being the Starbucks of Buds We need a higher SP or we won't be the local coffee house...
Globe/wire say Golden Leaf aims to be Starbucks of pot
2018-03-28 06:59 ET - In the News
The Globe and Mail reports in its Wednesday edition that Golden Leaf Holdings wants to become the Starbucks or McDonald's of pot. A Bloomberg dispatch to The Globe reports that Golden Leaf has opened a chain of weed stores in Oregon called Chalice Farms. Now venture firm BlackShire Capital has signed a letter of intent to franchise the model, setting the stage for stores across North America. Start-ups in the fledgling industry are vying to create the first household name associated with pot. With investment bank Cowen & Co. seeing legal cannabis sales reaching $50-billion (U.S.) by 2026 from just $6-billion (U.S.) in 2016, investors have flooded the space in the hopes of riding the so-called Green Rush to riches. Chief executive officer William Simpson says, "Like Starbucks is to coffee, we believe Chalice will be to cannabis." While analysts agree the industry is full of untapped potential, the patchwork of state laws has prevented companies from expanding aggressively. The public's response has been favourable, Mr. Simpson says, with the most successful store averaging $400,000 (U.S.) a month in gross sales through the third quarter of 2017. The slowest location averaged about $100,000 (U.S.).
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