Landing Page: Cannabis in Canada: Recreational Markets by Province

This is your guide to key cannabis market data and analysis across each Canadian province to ensure success in the new recreational market.

Our FREE report, Cannabis in Canada: Recreational Markets by Province, contains province-by-province financial breakdowns that are imperative for anyone pursuing or interested in Canadian cannabis.

As the first G-7 nation to legalize recreational cannabis nationwide, Canada is setting a precedent for international policy and trade opportunities. This convenient report ensures you have the most accurate insights to the Canadian market.

The data presented in Cannabis in Canada: Recreational Markets by Province is derived from dozens of interviews with industry experts and official information from governing authorities across all 10 provinces.

This free report covers topics such as:

  • Provincial and federal regulations, including potential overlap and inconsistencies
  • Where to optimize modern retail opportunities like vertical integration, online sales, cannabis cafes, and more
  • The best cities to set up cultivation operations, based on factors like climate, electricity costs and wholesale regulations
  • Fundamental consumer data, including the projected number of consumers, restrictions on public use, laws around public accommodation for cannabis and regulations on household grows
  • Individual provincial support resources like loans, education opportunities, research organizations and more

Trusted by cannabis experts, media groups, decision-makers and professionals around the world, MJBizDaily provides timely and accurate resources for sales information, market trends and data analysis in cannabis.

The Cannabis in Canada: Recreational Markets by Province report is available to download for a limited time as a FREE product to MJBizDaily subscribers.

This content was originally produced for MJBizDaily.com

Toronto: Where Diversity, Diplomacy and Cannabis Collide

As MJBiz laid out the criteria for our first international conference — seeking a friendly, global destination open to research, policy, expansion and diplomatic considerations in the cannabis market — Toronto was a natural first choice.

In addition to being a financial capital and champion of diversity and inclusion, Toronto has an established acceptance of the cannabis industry – long before the passage of Bill C-45, legalizing the recreational market nationwide. For one, it’s attracted as many as 20,000 people at its annual Global Marijuana March, considered the world’s largest annual demonstration in support of legalization.

While you’re in town for MJBizConINT’L from August 14-16, you and your cannabiz colleagues can accomplish some serious networking against a background of a lively arts presence, a rich and diverse food scene, and innovative claims to cultural fame.

The future of global cannabis launches in this expansive Canadian metropolis:


Graffiti Alley Toronto

Graffiti Alley is one of several spaces throughout Toronto where street artists display their work. Image: FLICKR/Nigel Burgher

Graffiti Alley

A short walk from the Metro Convention Centre, Graffiti Alley attracts prominent graffiti artists from around the world. The results? A square kilometer of vibrant colors, intricate designs and thought-provoking images can instantly refresh you after a full day of conference sessions. Look out all around town for public art spaces that just might give you a brand new take on street art.

 


little italy

International districts aren’t unique to metropolitan areas, but Toronto is home to several neighborhoods showcasing unique traditions and cuisines. Image:Flickr/Alain Rouiller

International Districts

To experience unique customs and delicious cuisines from different regions of the world, you don’t even have to leave Toronto’s city limits. Spread across the city in pockets of every major neighborhood, you’ll have no trouble experiencing a uniquely new flavor — or a taste of something comfortingly familiar.

Learn more about some of the most recognizable cultural neighborhoods in Toronto: Little Italy, Little India, Chinatown, Little Jamaica, Greektown, Little Portugal, Koreatown, Little Poland, Little Malta.


Catch a variety of small plates plus an extensive list of sakes and Japanese whiskeys to kick off an evening of networking at one of Toronto’s many Izakayas. Image: Flickr/Lloyd Morgan

Izakayas

If you enjoy the idea of a selection of traditional Japanese small plates delivered over several delicious hours, then you’ll appreciate that Izakayas are popping up all over Toronto. With their extensive selections of Japanese whiskeys, sakes and traditional small plates presented in a low-key and relaxing atmosphere, Izakayas are impressive venues for informal business meetings or extending your conference networking well into the evening.

 


Tour the home of one of the world’s most prestigious film festivals at TIFF Bell Lightbox in the Entertainment District. Image: See Toronto Now

TIFF Bell Lightbox

The annual Toronto International Film Festival (TIFF) in September attracts nearly half a million attendees every year and is considered the largest and one of the most prestigious film festivals in the world. But, did you know they host year-round screenings of both popular and indie flicks? A perfect weekend activity, you can also catch discussions with leading critics, directors, writers and others at the TIFF Bell Lightbox in the heart of Toronto’s media and entertainment district.

 


It’s undeniable that some of the greatest hockey players in the world hail from the Great White North. Image: FLICKR/Brian Crawford

Hockey Hall of Fame

Hockey, eh? It wouldn’t be right to exclude hockey from our highlights, especially since 2018 marks the 75th anniversary of the Hockey Hall of Fame. And while the museum closes at 5 p.m. on weekdays, you can still make a pilgrimage if you plan on extending your Toronto visit through the weekend!

 


Toronto is a bustling Canadian metropolis at the forefront of innovation and cultural progress — and we couldn’t be more excited to host our premier international conference in such a lively, cannabis-friendly destination. If you haven’t booked your MJBizConINT’L accommodations yet, we have some great discounted options for hotels in prime locations around the city, and some great deals for transportation when you arrive.

We look forward to seeing you in Toronto!

 

This blog post was originally published for MJBizTalks

How MJBizCon Prepares You to Reach Professional Excellence

We know you’re selective about how you spend your time and money.

As a professional in a constantly evolving industry, you’re always looking for the balance between running your business, building your network and continuing your education.

This guide was developed to help you identify how MJBizCon events advance your goals and determine which conferences you absolutely can’t miss.


MJBizConINT'L cannabis business conference in Toronto

Visit MJBizConINT’L If…

You’re in the “empire” business. Entrepreneurs with an eye for international trade, policy and multinational businesses can’t afford to miss MJBizConINT’L. Curious about growing in Israel, setting up shop in the U.S., and/or breaking into the German market? You want to get the most thorough exposure to new markets and stay ahead of the curve while you expand your reach. You need to convene with peers from around the world who share your interest in the global cannabis marketplace.

INT’L is for decision makers who want to impact the global marketplace. As an industry in its infancy, cannabis is poised to revolutionize the world economy. And if you’re not looking at international trade, then you might be missing out. Whether you have a grow in Washington, a shop or two in Ontario or a packaging plant in Australia, it’s time to define your role in the global marketplace.

Don’t miss the opportunity to position yourself among multinational peers.

MJBizCon marijuana business conference in Las Vegas

Buy Your Pass for MJBizCon If…

You work in cannabis.

MJBizCon is the preeminent event in cannabis today, attracting over 20,000 attendees and over 900 exhibitors — it’s the largest cannabis conference in the world.

MJBizCon is how you show the rest of the industry that you’re here to do business.

Your peers will expect to see you at MJBizCon in Las Vegas if you’re truly serious about cannabis. Don’t make the mistake of skipping the only cannabis conference that counts.

MJBizConNEXT cannabis business conference in New Orleans

Don’t Skip MJBizConNEXT If…

You’re an innovator and here to let everyone know it. Geared towards executives, investors and creators, NEXT is the destination for anyone who calls the shots — and anyone trying to find the decision-makers.

With exclusive pre-conference sessions designed for executives and an expo floor showcasing the most innovative players, NEXT is where you go to learn about emerging trends, business best practices, and game-changing tools and technology.

While 2018 MJBizConNEXT featured new technologies and business innovations, this conference is ultimately designed to bring leaders and aspiring leaders into one room. Thorough speaker sessions paired with an immersive expo floor distinguish NEXT as a prominent conference for advancing your decision making.


From global policy to innovation and beyond!

Whether you’re an MJBizCon veteran or a marijuana newcomer, thank you for joining us in advancing the cannabis industry. Which events will we see you at?

This blog post was originally published for MJBizTalks

Landing Page: Cultivation Snapshot: U.S. Wholesale Marijuana Prices and Supply

Designed with the business questions of cultivators in mind, this FREE cultivation report includes all-new and insightful data about fluctuating wholesale cannabis prices in recreational and MMJ markets across the U.S.

Information included in this Cultivation Snapshot: U.S. Wholesale Marijuana Prices and Supply has been exclusively curated by researchers and editors at MJBizDaily and is the first of its kind regarding cannabis cultivation.

No other agency tracks the fluctuating cost and supply of wholesale cannabis, but as the cannabis industry continues to expand nationwide, the need for in-depth trend analyses has become crucial.

Editors and researchers of MJBizDaily surveyed dozens of growers and retailers across every recreational state and compiled the exclusive findings into useful trends in supply, price and market outlook. In addition to state-by-state breakdowns, this report offers insight to national wholesale trends.

This complimentary report includes:

  • State by state supply availability, pricing outlook and current price by weight
  • Trends across the national medical marijuana market
  • Graphs that reveal price fluctuations year over year (where available, depending on market maturity)
  • Analysis to help buyers and sellers alike make appropriate investment decisions

Trusted by cannabis experts, media groups, cultivators and professionals around the world, MJBizDaily provides the first and most accurate resource for sales information, market trends and data analysis related to cultivation.

The Cultivation Snapshot: U.S. Wholesale Marijuana Prices and Supply report is available to download for a limited time as a complimentary product to MJBizDaily subscribers.

Report Summary: 6th Annual Marijuana Business Factbook

Insights from each section:

For the cannabis professional with questions, this Factbook provides answers. You need to understand the major trends in every sector of the industry, and our data findings – paired with survey responses from more than 900 professionals – reveal what the future of cannabis holds. In this Factbook, you can look forward to:

➙ Retail sales data that reveals major trends in this growing industry

• Economic impact projections and employment figures are optimistic for the future of the industry, BUT…
• Our exclusive reports on obstacles and challenges highlight major shifts in priorities and concerns – are vertically integrated businesses going to dominate the industry?

➙ 100 pages dedicated to new data on medical and recreational markets

• Sales, regulations and business opportunities vary widely on a state-by-state basis.
• Breakdowns of state-level regulations and legislation are also included.

➙ New information showing why recreational growth is slowing in maturing markets

• Surveys support how this trend impacts sales as more states legalize.
• Compared to other established consumer markets, like alcohol, cannabis is still growing rapidly.

➙ Key financial and operational benchmark data for each segment of the cannabis industry

• We’ve added more charts and analysis this year to further explore one of the more modern cannabis business models – vertical integration.
• See what unique challenges each sector faces when it comes to turning a profit.
• Some business segments saw rapid growth paired with sustained profit … others are barely breaking even.

➙ Responses from ancillary businesses indicating which big changes are on the horizon

• There’s a distinct need for expansion of ancillary services and products as the cannabis market grows.

➙ A detailed look at the funding and investment climate in the cannabis industry, answering questions such as:

• Where are the sources of startup capital coming from?
• What are investor returns?
• Where can I find data on current and future investments?

5 Critical Charts to Consider in 2018

1. Retail on the Rise: U.S. cannabis sales projections through 2022

Annual cannabis retail sales continue to grow year-over-year as new markets emerge and more states legalize medical and recreational marijuana. Sales in 2018 are projected to increase by roughly 50% from 2017, on pace to reach $8 billion-$10 billion by the end of the year.

By 2022, we project annual retail marijuana sales in the United States could top $20 billion, which would represent more than a 200% increase from 2017.

Graph: U.S. Cannabis Retail Sales Estimates 2017 – 2022 (MJBizDaily)

2. The Big Picture: A look at the impact of cannabis on the U.S. economy

The marijuana industry will create an estimated $28 billion-$34 billion economic impact in 2018. By 2022, that could soar past $75 billion annually.

Estimates for the industry’s economic impact are based on retail marijuana sales and incorporate a multiplier of 3.5. So, for every $1 consumers or patients spend at dispensaries or rec stores, another $2.50 in economic benefit is created in cities, states and nationwide.

The overall economic impact includes a host of factors, including the launch of new businesses, marijuana companies collectively paying hundreds of millions in state and local taxes, tourists visiting recreational states and spending money to legally consume cannabis, and MJ employees circulating their earnings back into the economy via personal spending and taxes.

Graph: U.S. Cannabis Industry Total Economic Impact 2017 – 2022 (MJBizDaily)

3.Cannabis Employees: Estimating the number of people working in cannabis

The cannabis sector currently employs an estimated 125,000-160,000 full-time workers. These figures consist primarily of workers directly employed by cannabis businesses – such as budtenders and extraction technicians – as well as employees from ancillary companies that generate a sizable portion of their revenue from the marijuana industry.

To put this in perspective, there are potentially more full-time marijuana industry workers than there are librarians or kindergarten teachers throughout the country – and over six times the number of coal miners in the United States.

Graph: Number of Full-Time Workers in the Cannabis Industry: Employment Comparisons to Mainstream Professions (MJBizDaily)

4. Job Security: Adding more full-time jobs through 2022

Compared to other burgeoning industries, the number of full-time jobs in the cannabis industry is growing at a rapid-fire pace. The industry is projected to add as many as 340,000 full-time jobs by 2022. This reflects an estimated growth of 21% per year, significantly higher than official estimates for other industries and professions.

For example, employment across the entire U.S. health-care industry is expected to grow 2% annually, while the number of solar panel installers is projected to grow by 7% each year.

Although sales growth in some mature markets is beginning to slow, lucrative MMJ markets in states like Pennsylvania, Florida and Maryland are just getting started. Our estimates also account for the fact that more states will likely legalize medical and recreational marijuana in the coming years, another major driver of job growth that will have a positive effect on the economy as employees spend their earnings on goods and services at local, state and federal levels.

Graph: U.S. Cannabis Industry Full-Time Employment Estimates: 2017 – 2022 (MJBizDaily)

5. In Perspective: Defi ning revenue and monetizing the demand for cannabis

In 2017, sales of medical and recreational cannabis in the United States were nearly nine times higher than Oreo cookies and almost on par with Americans’ collective spending on Netflix subscriptions. With the addition of California’s recreational market sales in 2018, cannabis sales could easily eclipse McDonald’s annual U.S. revenue.

Total demand for marijuana in the United States, including the black market, is around $52.5 billion, according to estimates. If the federal government legalized marijuana nationwide, sales might start out around that level but would likely rise as cannabis gained mainstream acceptance and the market evolved. Eventually, marijuana could surpass cigarette sales – with the potential to rival beer in terms of overall sales.

Graph: Annual U.S. Cannabis Sales vs. Other Industries & Goods (MJBizDaily)


5 Key Takeaways

1. Investors doubling down

Investors plan to provide more than twice as much capital to cannabis businesses in 2018 than in all previous years combined.

Many investors surveyed plan to deploy upwards of $2 million to cannabis businesses in 2018, with several survey participants intending to provide over $30 million in funding to marijuana companies this year. This level of investment in the cannabis industry has become more common as businesses demand more capital.

• Until 2018, the average cannabis investor had sunk about $750,000 total into the cannabis industry. But this year many investors are ready to dig deeper into their pockets and spend millions on industry advancements. We examine the signals investors are seeing in cannabis that is driving them to spend even more this year.
Graph: Cannabis Industry Investors: Typical Investment Amount to Date, Additional Investment Amount Planned for 2018 & Size of Each Investment (MJBizDaily)

2. Vertical integrators seeking market domination

Vertically integrated companies are inherently designed to add locations in a sustainable and profitable manner over time. Businesses have implemented standard operating procedures around opening new stores and have team members devoted to the licensing and application process.

With tight control over their own supply chains and the ability to leverage economies of scale, these retailers can profitably sell products at lower prices than smaller, independent competitors.

• What will it mean for profits if your business isn’t vertically integrated? With more leverage and higher profit margins, vertical integration is becoming more than just a niche in retail business models.
Graph: Vertically Integrated Retailers: Number of Dispensaries/Stores at Launch Compared With Current Number of Dispensaries/Stores (MJBizDaily)

3. Is the future dimming for indoor grows?

Profit margins for energy-intensive indoor grow operations have been shrinking, while prices for cannabis cultivated in more efficient greenhouses are approaching – and in some cases surpassing – indoor-grown cannabis.

Producing a pound of indoor-grown flower costs about 30% more than flower grown in a greenhouse. The disparity is even greater when compared to flower grown outdoors, where production costs are less than half those faced by indoor cultivators. Several established cultivators have moved production into greenhouses based solely on economics – a trend more businesses are likely to follow.

The ability for greenhouse growers to receive equal or greater prices in the wholesale market with substantially lower production costs has called into question the long-term viability of growing indoors.

• Greenhouses and outdoor grows reduce costs – can your indoor grow afford to compete? Niche consumers are even willing to pay top dollar for greenhouse and outdoor-grown flower, so what will indoor cultivators do to keep up?
Graph: Wholesale Cultivators: How Much Does it Cost Your Business to Produce One Pound of Marijuana? (MJBizDaily)

4. Infused product companies expanding across multiple states

A growing number of infused product companies are developing into national brands. Relative to other plant-touching sectors of the marijuana industry, infused product manufacturers can easily expand their operations across state lines. Many growth-minded infused product companies are pursuing aggressive expansion strategies with licensing agreements and partnerships to bring their brands into new markets.

The goal for many infused product manufacturers is to grow into large, dominant brands that become household names with patients and consumers.

• Niche infused products are finding ways to go national. Whether or not you are licensed in multiple markets, how do you ensure your products become a household name?
Graph: Infused Product Manufacturers Based in California, Colorado, Oregon & Washington: Portion That Sell Products in More Than One U.S. State (MJBizDaily)

5. Cannabis innovation forces ancillary groups to specialize

Across the ancillary products and technology sector, just over 40% of companies serve the marijuana industry exclusively. For ancillary groups that serve multiple industries, revenue generated from marijuana companies accounts for roughly half their total annual sales.

The rapid pace of innovation in the cultivation and processing sectors of the cannabis industry is driving equipment and materials to become more specialized. Core product offerings for many companies that serve these market segments now target marijuana businesses specifically, even though they launched outside the cannabis industry.

Ancillary services firms typically bring in less than $200,000 in total annual revenue, so the rapid emergence and growth of the cannabis industry gives entrepreneurs a significant opportunity to expand their businesses.

• For ancillary companies serving the cannabis industry, rapid growth in the space means a boom in revenue for marijuana-related products and services. Even ancillary groups that were founded to serve different industries are gravitating toward becoming cannabis-exclusive as demand for specialized products and services grows.
Graph: Ancillary Technology & Products Companies That Serve Multiple Industries: Average Portion of Revenue Derived From Cannabis Industry (MJBizDaily)

This content was originally produced for the 6th Annual Marijuana Business Factbook, published by Marijuana Business Daily

Event Recap: Making Meetings More Efficient at Alaska’s Fisheries

Compiling, distributing and managing large quantities of agenda materials is strenuous on government staff at all levels. With Granicus’ Legistar and iLegislate, the North Pacific Fishery Management Council (NPFMC) saves dozens of reams of paper and more than $30,000 annually in meeting-related costs.

February 13’s Seattle World Tour fireside chat with Granicus’ Director of Sales Jeff Schaefer and NPFMC’s Communications and IT Specialist Maria Shawback opened the discussion with the impact of efficient, paperless agenda tools on the daily and yearly operations of the organization.

“This solution really helped us,” Shawback said. “People can download documents onto their iPad and just take their tablet onto their boat, where there might not be internet access, wherever they are in Alaska, and have everything there. They can be more prepared for our council meetings. It’s been a game changer for us.”

NPFMC’s five annual council meetings can last up to 10 days, and previously required agenda packets averaging 750 pages each to accompany the meetings. The cost of distributing the information to the right people was cumbersome and time-consuming, especially when meeting information notoriously changes last minute and can require prolonged attention to detail.

By compiling information in Legistar and distributing it to members on the go via iLegislate, the agency is able to keep all meeting information accurate and accessible to the 80 to 100 council attendees who would have otherwise have used upwards of 60,000 sheets of paper per meeting.

“We have been mostly reliable with the web platform we use and I think as council members and the engaged public or even people who stop in for one issue in 10 years – they can get their information right online,” Shawback added.

Shawback also emphasized the impact of a thorough public record and how constituents benefit from having simplified access to voting records, upcoming meeting agendas and archived meeting information on multiple channels.

“Our audience is everybody,” Shawback said. “We wanted our information to be available and accessible to everyone, no matter what platform they choose.”

With the continued rise of smartphones, the importance of a multi-channel approach going forward takes precedence in digital engagement campaigns. Shawback’s advice to the dozens of agency officials in attendance was to remain nimble in their approach to distributing content. Constantly learning from different attempts to share meeting information has differentiated her agency from many others. After seeing low engagement on Twitter, Shawback said the NPFMC was quick to capitalize on different methods. For their organization, the simple presentation of downloadable documents best met constituent needs, allowing the agency to focus their approach for an optimized public portal to maintain engagement.

“The biggest takeaway we’ve learned is that it’s a constantly evolving process. We think we have it perfected, but things change,” Shawback concluded.

Want to learn more about how you can use Granicus solutions to improve digital engagement with citizens? Contact us at info@granicus.com.

This post was originally published on Granicus.com