Ontario-based platform PiinPoint counts Tim Hortons, Second Cup, and H&R Block as its clients
A new tech platform based in Kitchener, ON, can help aspiring cannabis retail owners find the perfect location to set up shop.
PiinPoint has created a location-intelligence platform to provide companies and individuals with plans to apply for an Ontario retail license with location data to help establish the ideal area. The platform doesn’t work exclusively with cannabis companies — it counts Tim Hortons, Second Cup, and H&R Block as clients — but it could be helpful in identifying the best locations for pot shops, which are notoriously hard to shortlist due to rules that heavily regulate where they can be located and what is required of the space.
“We bring in a ton of different data,” Sarah Steiner, PiinPoint’s Chief Product Officer, told CBC News. “We actually provide analytics around where people can go, what kind of sales they could expect in a certain location, how suitable a market is for them, how many stores they could do in a certain market.”
Steiner says the data can also trace and eliminate regions where pot shops may be prohibited, such as near schools or hospitals, as well as other cannabis retail locations. The company has been working for more than five years, wherein Steiner says PiinPoint staff learned the challenges of finding viable locations to rent in the sector.
PiinPoint may have a new influx of cannabis-related businesses soon, as the Ontario provincial government recently announced plans to scrap its highly unpopular lottery system for licensing along with its retail store cap, which will take effect in January 2020.
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Written by Emma Spears