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The legalization of recreational cannabis has brought increased demand, competition and tremendous market growth potential to the Canadian cannabis sector. But while many expect the industry to explode between now and 2020—and ultimately reach a value of anywhere between $4 and 6 billion,1 according to estimates—in these early days, it’s still unclear which companies will reap those profits.

As countless cannabis players fight for leadership in the market, they face a host of challenges. Today, talent is at a premium, with companies across the country looking for new and innovative ways to stack their talent rosters. While some companies are looking outside of Canada to fill their talent needs—such as the Caribbean and Guatemalan labour markets2 —others are scouring other industries for professionals with suitable skillsets, or investing in automation, to take their companies to the next level.

At the same time, competition is becoming increasingly fierce. American companies now see the Canadian recreational cannabis market as a lucrative expansion opportunity. In response, some Canadian companies are pursuing strategic M&As. Others are looking for ways to strengthen their internal business frameworks to boost efficiency, production and market reach—and raising the bar in the process.

Given the pace at which the industry is

evolving, and at which cannabis companies

are expanding, it’s safe to say Canadian

players have their work cut out for them.

To succeed, and become a leader in this

new frontier, you can’t afford to be short-

sighted—rather, you need to be agile enough

to adapt to changes as they arise and move

seamlessly into the next business stage. This

means every business decision made today

must be scalable to meet your organization’s

future needs, including how you approach

corporate travel.

With industry travel on the rise—thanks, in

large part, to the vast Canadian marketplace;

an increase in M&As; emerging recreational

cannabis markets across the globe; and a

growing number of industry events—scaling

your corporate travel practices can be an

easy way to free up precious time, money

and resources to grow your business today,

while positioning your company for

future success.

The secret to scalabilityWhile scalability is important in virtually every

industry, the Canadian recreational cannabis

sector is unique in that there has been no

staggered entry—everyone left the gate

simultaneously. This has created a virtually

unprecedented business environment— one where acceleration speed is equally as important as endurance.

In a business context, this means—on top of managing time-consuming day-to-day tasks—cannabis companies must also find a way to anticipate, and accommodate, their organizations’ future growth objectives. After all, if your company is expected to quadruple in size within the next six months, your existing systems and processes must be able to accommodate the immediate influx of employees.

Otherwise, you could run into issues that could seriously stunt your organization’s growth and prevent it from reaching its full potential.

One way to avoid this outcome, and effectively future-proof your business, is to take the time to identify existing bottlenecks in your business practices and rectify them now—before they become major issues. The thinking is, if they’re causing delays when you’re a 10-person operation, those issues are only going to be magnified once you reach 100. But while most people immediately veer toward the operational side of the business to rectify bottlenecks, corporate travel booking is often a significant source of wasted resources—and one that’s easily remedied.

How outsourcing corporate travel can help your cannabis business grow

1 https://cannabusinessplans.ca/canadian-cannabis-market/2 https://www.thespec.com/news-story/9063128-canada-s-cannabis-industry-is-so-hot-right-now-it-s-importing-workers/

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B0

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Down the rabbit holeThe typical employee wastes upwards of two hours per trip on in-house travel booking. When you consider how long it takes to find a relevant travel website with appropriate flight options, conduct price comparisons and complete the booking process—and then repeat the entire ordeal for hotel and car rentals—it makes sense. And that timeframe only increases with highly-complex travel itineraries—or when you realize, a little too late, that the conference hotel you intended to stay at (and those in the immediate vicinity) have been sold out for months.

The hassle doesn’t end there, either. Not everyone thinks to check for flight delays before leaving the office—resulting in hours of wasted time at the airport. If itineraries aren’t shared, it can be difficult for those in the office to keep track of who’s available to attend important meetings. And then, of course, there’s the issues of collecting and saving relevant expense receipts—and staying on top of travel budgets.

While these inconveniences may not seem like a huge deal when you’re a small operation, they likely cause more headaches than you think—and will only continue to do so as you grow. Fortunately, these bottlenecks can easily be eliminated by outsourcing to the right travel agency.

The benefits of finding the right agencyOne of the greatest upsides to outsourcing your corporate travel needs is that you can start at any time. It’s a great option for small, lean companies that lack the human capital necessary to book complex or frequent trips, but it’s also well-suited to larger companies that require more diligent travel documentation and streamlined processes.

To ensure you’re partnering with a travel agency that can scale with you as you grow, make sure they offer a transparent fee-per-booking model. They should also be able to help you in a variety of key areas:

Cost savings

A large travel retailer with global reach often has strong connections with the world’s major airlines, hotels and car rental companies—which translates into significant cost savings for you. Not only do they have access to rates that aren’t available to the general public, but they also typically offer global negotiating strength, which leads to better deals.

Time savings

Dedicated travel managers offer a host of services—from completing your travel bookings for you (at the best price and ideal times), to making last-minute changes or cancellations. And if your agency offers 24/7 support, they can also resolve issues for you while you’re travelling. This type of assistance not only saves you time, but it also allows you to focus more attentively on your business.

A technological experience

Today, travel technology can keep you connected, informed and protected—whether you’re in the office or on the road.

Annual savings of $120,000One cannabis player recalls the days when the company had just a few staff members located in one small location in Ontario. In just three short years, the business has grown to roughly 200 employees located in facilities around the world. Initially, the CEO’s administrative assistant was responsible for booking staff travel—a job that got out of hand fast.

“When I was booking flights for a handful of executives to attend industry conferences, it was one thing,” she recalls. “But today, our executive team flies around the world

to raise financing and set up production facilities in Europe and South America. Our sales staff also travels across the country and around the world. Suddenly I was dealing with missed flights, last minute changes, cancelled meetings, overbooked hotels... It was impossible to track and it was costing us a small fortune.”

Working with Corporate Traveller totally changed the game. In addition to passing on hotel and car rental discounts, Corporate Traveller uses flight passes and creative travel arrangements to simplify itineraries—and

save money. In 2018 alone, this client saved over $120,000 in airfare, hotel and car rental fees. They also benefit from 24-hour emergency service.

“In the past, if any of our people got stranded in a foreign country, I would get a frantic 3 am phone call to help. Now, our staff can call the Corporate Traveller emergency line 24 hours a day and they’ll be put on a different flight, or booked into a hotel, or have dinner arranged for them if necessary. There’s no way I could handle this all myself. You really do need an expert on board.”

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It can also drastically simplify your travel budgeting and tracking experience.

Itinerary management apps, for instance, store all your travel information in one place—allowing you to easily keep track of flight details, alternate flight options, flight status notifications, seating availability, weather reports and other pertinent destination information. They also allow you to access your itineraries and share them with others.

Some of today’s travel dashboards also provide you with a detailed look into your travel spend, allowing you to know where the company’s money is going on any given day and make changes where necessary. They can also proactively inform you of further cost-saving opportunities.

Emergency peace of mind

When you’re travelling, anything can happen. That’s why it’s important to deal with a travel agency that offers you access to real people, 24/7—regardless of where you are in the world. With this type of support, you’ll be able to easily handle last-minute flight changes and bookings; complex travel itineraries with many moving parts; issues with misspelled names; missed flights; lost or forgotten flight credits; payment problems; or costly cancellations.

Rewards programs

When you travel for business, it’s nice to earn rewards along the way. Some programs can even enhance employees’ personal travel experiences—and potentially offer personal travel management services, free of charge.

While Canada was the first country to legalize recreational cannabis on a federal level, it won’t be the last. As more countries catch on to the tremendous economic opportunities this segment offers, all eyes will be on Canada’s pioneers—companies that will be a source of inspiration, and targets of disruption.

Fortunately, Canadian cannabis businesses have a head start in this arena—and those that take the time now to develop scalable, efficient business frameworks and agile strategies are the ones that will inevitably be able to adapt nimbly to shifting market forces.

Outsourcing corporate travel is just one way to free up time, money and resources to focus on more important things—like becoming a global cannabis market leader.

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“It’s incredible how quickly some of our clients’ travel needs have been expanding. The cannabis industry is moving at such an intense pace that some clients who thought they only needed help with a few flights are suddenly turning to us to arrange numerous complex itineraries with multiple stops, hotels near conference centres, car rentals and more.”

Marisa Atlas, Team Leader and Cannabis Industry Travel Specialist, Corporate Traveller

The future is bright

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