Quantum 1 Cannabis CEO Russ Rossi: Store Expansion in North Vancouver and A New Venture | Summary and Q&A

TL;DR

Quantum One Cannabis is experiencing steady growth and profitability in their flagship store in Vancouver, thanks to their high-quality products, exceptional customer service, and the gradual decline of the black market.

Key Insights

• 🏪 Quantum One Cannabis's flagship store in Vancouver is performing well, with increasing sales and profitability.
• 🖤 The company attributes their success to factors such as excellent customer service, knowledgeable staff, and eroding the black market.
• 🥶 Quantum One Cannabis is expanding operations with a new store in North Vancouver and offering free cannabis delivery within 20 minutes.
• 👨‍💼 The company's online learning business has experienced significant growth during the pandemic, with increased demand for online training and consultation services.
• 🥶 Quantum One Cannabis plans to launch a free learning platform, On Track TV, with thousands of courses for individuals and businesses.
• 💪 The company is in a strong financial position, with zero debt and the ability to acquire more retail outlets.
• ✋ Quantum One Cannabis is considering selling or retooling less profitable stores and focusing on high-revenue locations.

Transcript

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Questions & Answers

Q: What are the main factors contributing to the growth and profitability of Quantum One Cannabis's flagship store?

The store's success can be attributed to factors such as excellent customer service, knowledgeable staff, eroding the black market, and the appeal of regulated, consistent products compared to the black market.

Q: How is Quantum One Cannabis differentiating themselves from the black market?

Quantum One Cannabis focuses on providing high-quality products with precise ingredient percentages and clear packaging. This ensures customers know exactly what they are getting, which is often not the case with products from the black market.

Q: What expansion plans does Quantum One Cannabis have?

The company is set to open a new store in North Vancouver, offering a larger space for more products and an enhanced customer experience. They are also considering selling or retooling less profitable stores to focus on high-revenue locations.

Q: How has the COVID-19 pandemic affected Quantum One Cannabis's online learning business?

The pandemic has led to increased demand for online training and consultation services. Quantum One Cannabis has seen a significant increase in online training and is relaunching their On Track TV platform with thousands of free courses.

Summary & Key Takeaways

• Quantum One Cannabis's flagship store on Camby Street in Vancouver is exceeding expectations, with increasing sales and profitability.

• The store's success can be attributed to factors such as excellent customer service, knowledgeable staff, and the appeal of regulated, consistent cannabis products compared to the black market.

• The company is set to open a new store in North Vancouver, expanding their operations and offering free cannabis delivery within 20 minutes.