First Legal Cannabis Shop Opens in Toronto

The video discusses the journey of entering the cannabis business, starting with the decision to apply for a lottery license. It covers the steps taken to build the business, including assembling a team, finding a location, and focusing on design. The decision to remain independent is explained, highlighting the importance of control and decision-making. Finally, potential supply issues are addressed, considering the demand and number of stores in Toronto.

What motivated the entrepreneur to apply for the cannabis lottery license?

• A lifelong passion for the cannabis industry

• A requirement from the wireless industry

• A suggestion from a friend in the real estate industry

• The opportunity presented by an emerging industry

What was the first step taken after the entrepreneur's name was announced for the license?

• Finding a suitable location

• Assembling a team

• Designing the store layout

• Hiring employees

Why did the entrepreneur choose to remain independent rather than partner with nationwide retailers?

• To have full control over decision-making

• To avoid financial constraints

• To follow legal counsel's advice

• To reduce the number of employees

What is a potential concern for the cannabis store regarding supply?

• Overstocking leading to storage issues

• Inconsistent supply due to high demand

• Lack of variety in cannabis products

• Excessive supply leading to waste

What factor will dictate the supply situation for the cannabis store?

• The design of the store

• The number of other stores open

• The marketing strategies used

• The number of employees hired