Cost Saving Strategies for Retail and On Premise Liquor BusinessesMarch 8, 2018
Legalizing Cannabis in Canada
As an entrepreneur at heart. I am excited when new opportunities and business ideas come about. Heck! I have even expanded my business model as Cannabis licensing is now so closely aligned with obtaining a liquor license in various provinces across Canada. We at Thrive Liquor & Cannabis Advisors will be working with select cannabis retailers within BC and Alberta to obtain municipal and provincial cannabis licensing approvals. I find myself reading Bills, Acts and proposed legislation by night while working by day just to keep current on the cannabis industry changes that are coming. I have rolled up my selves and have jumped in head first! Alberta will roll out their program before BC as they have announced applications will be accepted effective March 6th to allow for processing times for the anticipated adoption of the pending Federal regulation change (Bill C-45). Bill C-45 will formally legalize access to cannabis and will control and regulate its production, distribution and sale in Canada.
Canada is embarking on an entirely new economic opportunity for all. The economic benefits for legal cannabis industry may be worth 4.9 billion – 8.7 billion, based on a 2016 report by Deloitte. That’s almost the same size as the Canadian spirit market at 5 billion! Value could approach 23 billion when factoring in ancillary markets, such as growing, shipping, etc. Everyday, I am getting new phone calls and emails with excited entrepreneurs wanting to get into the industry in various forms. I am captivated by the emerging business models that are coming forward as time passes, including cannabis retail stores, cannabis agent applications and the possibility of future mergers and acquisitions of retail stores.
The information can be overwhelming and many are trying to sort through where to start their process. Out of the daily calls I am receiving, the most common question: Where do I start first to obtain my cannabis license? In my opinion, this is an easy one! Depending upon your idea and what province your business is proposed to be in, connect with us and lets have a call or a coffee! I am happy to have a conversation with you, to help you through your process. Or, if you are looking for some quick tips, here are some steps you can take to obtain your cannabis retailing license.
1. Location, location, location: get out there and find your location to place your cannabis retail store. You are going to require a valid interest in a property prior to making application.
2. Municipal approvals: You will need to obtain municipal approvals by way of issuance of a business license. In BC, you must obtain a council resolution (i.e. community input) as part of your application. Land use will factor into this process too. In Alberta, you will be permitted to make application first, and if deemed eligible by the Alberta Gaming Liquor Commission (AGLC), City approvals can be supplied after. Its recommended to start the conversations early with your municipality, as each city is unique and different.
3. Provincial applications: Cannabis retail applications have been confirmed that they will be managed by the Liquor Control and Licensing Branch (LCLB) for BC and the AGLC for Alberta. Alberta has gone live with their applications. These can be submitted anytime after March 6, 2018. BC has made announcements that applications will be going live this spring.
I am looking forward to this emerging regulated cannabis market. If we can help you do not hesitate to connect with us at anytime! Bookmark this page and check back to stay current on liquor and cannabis related industry updates.