Cannabis has grown in popularity over the last several decades, and the legalization movement has been gaining momentum. Find a unique list of CBD Franchise opportunities listed at the industry’s most trusted directory resource and buyer advice provider, %%SiteName%%.
Cannabis & CBD Franchise Opportunities (2022): Booming Industry
Colorado and Washington became the first states to legalize recreational cannabis in 2012. Since then, 16 other states and D.C. have followed suit, and recreational cannabis sales for 2021 are estimated at around $26 billion . Cannabis has grown in popularity over the last several decades, and the legalization movement has been gaining momentum. Cannabis sales data platform BDSA estimates that the industry will grow by about 15% annually over the next several years, reaching $41 billion in sales by 2026.
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Cannabis Industry Growth
As of now, most banks in the U.S. do not extend loans to recreational cannabis businesses (since cannabis is still illegal at the federal level, doing so would cause the banks to lose their FDIC insurance), and recreational cannabis businesses are not able to apply for SBA loans. Additionally, recreational cannabis businesses are not allowed to conduct business across state lines due to their legal status at the federal level. This all makes it very difficult for recreational cannabis franchises to exist in the U.S., so there is only a handful in business at this time.
An additional obstacle is that recreational cannabis is still illegal in many states. If your state has not legalized recreational cannabis, you will not be able to open a franchise at this time.
Read on to learn more about some of the businesses that have overcome these obstacles to become some of the leading recreational cannabis franchises in the U.S.
Franchise Opportunities in US
Founded in 2018 , Unity Rd. is one of the first recreational cannabis companies to franchise in the U.S. Unity Rd. places special emphasis on the customer experience, whether they are new to cannabis and need someone to guide them or they know what they want already and want to do their own thing. They also brand themselves as a “neighborhood” shop, where each dispensary’s employees are from the area and want to contribute to the community.
Unity Rd. recognizes that the recreational cannabis industry in the U.S. is still young and that regulations are always changing. To support franchisees, Unity Rd. gives them access to their proven practices, such as a vigilant compliance strategy, marketing support, their proven processes, and purchasing power.
The total initial investment cost of a Unity Rd. franchise ranges from $1 million to $2.5 million. There is a franchise fee of $100,000 (or $250,000 for 3 franchises). Additional costs include a 5% royalty on gross revenue, and a 2% ad fee. Unity Rd. requires potential franchisees to have a net worth of at least $1 million. They must also have $1 million of liquid capital.
Eufloria Dispensary is another one of the first recreational cannabis franchises in the U.S. It values the customer experience, high-quality products, knowledge-driven consultation, inviting and comfortable store environments, and regulatory compliance.
It supports its franchisees by providing them with a strong brand, legal guidance, marketing support, area exclusivity, a proven operational model, 24-hour lifeline support, and purchasing power.
The total initial investment cost of a Eufloria franchise ranges from $256,186 to $639,297. There is a franchise fee of $90,000. There is also a 6% royalty fee, 1% marketing fee, and an additional monthly $500 digital marketing fee.
Miracle Leaf operates medical cannabis health centers across Florida and also offers Telehealth and medical marijuana cards in 30 states. It differs from the previous two franchise models in that it does not operate any recreational dispensaries. Miracle Leaf focuses on health, employing state-certified cannabis doctors to evaluate patients and treat their ailments.
They offer two types of franchise opportunities: a single unit franchise or an area development franchise. The single unit option allows franchisees to operate their own Miracle Leaf in a protected territory. The area development option grants franchisees a larger area with the expectation that they open a series of Miracle Leaf locations. Miracle Leaf supports franchisees by providing them with industry knowledge, support, and a comprehensive and hands-on training program.
MedMen is another leading recreational cannabis retailer, operating 24 stores across California, Nevada, Illinois, Arizona, New York, and Florida. While all of their stores are company-owned, Medmen is a publicly-traded company. Investors can purchase shares in the company rather than opening their own store. MedMen aims to de-stigmatize cannabis by offering a welcoming shopping environment and pushing for safer and healthier products. It is also committed to giving back to the communities they operate in, and has partnered with non-profit organizations in those areas.
MedMen shares trade on the Canadian Securities Exchange (XCNQ) and in the over-the-counter market. According to its most recent earnings call, it increased revenue by 13% from last year to $40 million, and increased retail adjusted EBITDA by 17% to $7 million.
U.S. CBD Industry
The CBD industry is significantly smaller than recreational cannabis, with sales in 2021 estimated to be around $4.7 billion . CBD sales in 2020 totaled $4.6 billion, so the industry’s growth has been slowing over the last year. However, there are fewer legal barriers to owning a CBD business, as CBD has been legal in all 50 states beginning in 2018. Additionally, many in the industry are hoping that the FDA will define CBD as a dietary supplement. This would result in CBD products being able to enter more stores and overall growth in the industry.
Your CBD Store
Your CBD Store offers CBD-based herbal and nutritional supplements such as capsules, dissolvable supplements, medicated cosmetics, dietary supplements, and others. As of 2021, there are over 160 Your CBD Store locations across 39 states. They focus on sourcing high-quality ingredients. And they differentiate themselves from other CBD retailers in that they use ingredients from the entire hemp plant.
The total initial investment cost of a Your CBD Store franchise ranges from $66,350 to $82,450. There is a franchise fee of $5,000. Your CBD Store franchisees must also pay 3% of wholesale product purchase costs, at least 3% of gross sales per quarter, and 2% of the wholesale cost of products in advertising fund, local advertising, and royalty fees, respectively.
The CBD business is booming, and the opportunities are endless. Are you interested in getting involved in the CBD industry, but are not sure how? Consider franchising opportunities to become a successful entrepreneur in this up-and-coming field.
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Unity Rd., a Cannabis Dispensary Franchise
Entering the cannabis industry is easier than you think. Pioneer cannabis franchisor, Unity Rd. offers franchise partners its deep network of seasoned experts, trusted resources, turnkey blueprint and .
Are you interested in starting a CBD franchise? We have a list of viable CBD franchises that you can choose from. According to one study, the CBD industry is expected to surpass $20 billion in the next few years! Therefore, it’s best to get ahead of the game: this industry has a big market and the already existing businesses have not managed to fully supply the demand. You can make a part of this huge market your own and to help satisfy the ever-growing demand. In recent years, CBD seems to be what all the buzz is about. CBD, also known as cannabidiol, is one of several compounds present in the cannabis plant, and its medicinal benefits are starting to become known. Some studies suggest that CBD may help reduce inflammation, aid in relaxation, treat chronic pain, and could aid in the treatment of certain neurological conditions such as epilepsy. In addition, some studies show that CBD might help people quit smoking cigarettes. New information about what some are calling a miracle compound seems to come out every day, and consumers are taking notice. In fact, one study reports a 706% increase in CBD product sales in 2019. Therefore, this industry is growing at an exponential rate and it is an incredible opportunity for any aspiring or existing entrepreneur. Here are some important points of information to research before you decide on which CBD franchise is best for your situation. 1. Check out all the other franchise locations and other types of CBD franchise market competition in your area. 2. Research each CBD franchise and list the services they offer and specialize in to determine the best fit for you. 3. Review each CBD franchise and make a chart that includes franchise fees, startup cost, cash investment, etc. 4. Call and talk with current franchise owners and get their opinion on the pros and cons of the different franchise options. At Franchise Clique, we are proud to present a variety of CBD franchise opportunities in our listings. Find your next investment today!
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