Report: Cannabis Shops Make More Money Per Square Foot than Whole Foods
In states where cannabis is legal, the market has unsurprisingly thrived, with huge amounts of revenue – and taxes – rolling in. Now, a new report shows that on average, legal cannabis businesses in the U.S. produce an annual revenue per square foot that’s higher than Whole Foods, one of the nations most profitable grocers.
According to the 2016 Marijuana Business Factbook, the average annual revenue per square foot of legal cannabis retail outlets (medical and recreational) is $974. By comparison, Whole Foods’ yearly revenue is $930 per square foot, roughly 5% lower.
The 2016 Marijuana Business Factbook uses data compiled from nearly 1,000 business owners, executives, entrepreneurs and investors.
According to Forbes, Whole Foods has a net profit margin that’s higher than Wal-Mart.