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Quantum 1 Cannabis (CSE:QQ) CEO Russ Rossi shared that the company recently secured a lease to expand its store located in North Vancouver. The new store will be a 3,000 square feet full service recreational cannabis store which features a contemporary design and the company’s signature customer service.
“We needed bigger space, so next door is available. It’s about 3,000 square feet. And we’re going to go to you on a lease for a while, we just got it signed last week, seven days ago. We’re now renovating and we’re putting the applications in to have the bigger showcase store, which is literally – I mean, literally – next door to our other store, it shares a wall,” shared Rossi.
In the interview, Rossi shared that if things were up to him, he’d like to have eight high revenue, highly profitable stores so the company continues to rent spaces in cities where there are no cannabis stores yet. Currently, Quantum 1 Cannabis operates five stores in BC.
He also highlights that, “We are strong with zero debt so we’re in a strong position to be able to acquire and be able to roll up. The biggest challenge would be the fact that right now you can only have eight stores.”
Aside from the full service stores, Quantum 1 Cannabis also has an online learning and training component that has grown, thanks in part to the pandemic which has taught everybody how to learn thrive in an online environment. Rossi shared, “Our classes are logging in not just from Vancouver, but from Victoria, Toronto, the United States, Minnesota, Los Angeles… and we don’t just have eight people in a class we have 1,520 it’s amazing.
Quantum 1 Cannabis CEO Russ Rossi also discussed the company’s newest venture: OnTrackTV, a free video platform for learning videos.
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.