After launching in Toronto in early July, recreational marijuana dispensary chain Hemisphere Cannabis Co has opened its second location in Toronto. Hemisphere Cannabis Co is developed and operated by Aegis Brands, which is also the parent company of both Second Cup Coffee Co and Bridgehead Coffee.
In marking the opening of this second location, Aegis Brands CEO Steven Pelton shared insight into the early success of Hemisphere's first location at 1703 Avenue Road in Toronto, and the chain's plans for continued growth. He also confirmed that the first Hemisphere location is already ahead of projections in sales and profitability.
“The ability to leverage our premium real estate across Canada – and to convert Second Cup locations to Hemisphere locations only as licenses are approved – is truly unparalleled,” says Pelton.
“Couple that advantage with the fact that being part of Aegis provides Hemisphere with incredible leadership in marketing, [human resources], real estate, and finance, with no need to build out a head office team from scratch. We have an industry-leading model that will allow the brand to be profitable within months of opening.”
Subject to cannabis marketing regulations, the company is actively exploring the production of THC and CBD beverages featuring Second Cup flavours and branding.
“Our goal, pending future deregulation of CBD, is to make Second Cup the first national coffee chain to sell CBD beverages in our cafés,” says Pelton.
While all cannabis retail locations require government approval, Pelton has set a goal of 30 Hemisphere locations across the country by the end of 2022. Additional stores are already confirmed to open in the coming months in Ajax, Ottawa and Orleans, along with flagship Toronto locations on King Street West and Front Street East.