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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. Read here to learn more: https://www.vettedbiz.com/top-cannabis-cbd-franchises/ Want to speak with a franchise specialist about Cannabis or CBD? Click here: https://share.hsforms.com/1ZtNM19w4R8WIXyNa_97N7w4e0xw 00:00 Introduction 01:37 Unity Rd. 02:16 Eufloria 02:48 Miracle Leaf 03:32 MadMen 03:50 CBD Industry 04:21 Your CBD Store 05:02 American Shaman 06:28 Conclusion #CannabisAndCBDFranchises #VettedBiz 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. Unity Rd. 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 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 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. Read here to learn more: https://www.vettedbiz.com/top-cannabis-cbd-franchises/ Want to speak with a franchise specialist about Cannabis or CBD? Click here: https://share.hsforms.com/1ZtNM19w4R8WIXyNa_97N7w4e0xw
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