Cannabis and Franchising: Perfect Together

In recent years, cannabis legalization has seen a big push. Currently, the majority of U.S. states have passed legalization legislation. Though there are stipulations, including medical-only use, recreational and medical use, and CBD or low-THC-only substances, recognition of the plant and its varied uses is becoming more widespread.

Legalization, in turn, allows for legitimate business opportunities. For many, the franchise model provides an attractive pathway to break into the still-developing industry, as the franchisor can provide guidance through necessary licensing or other credentialing processes. In a heavily-regulated market like this one, having a professional to back you, the small business owner, up is priceless. 

It should be noted that many financial institutions remain skeptical of cannabis business models, meaning that it can be difficult to secure funding for an initial investment. However, there are organizations working to combat this hurdle, and the market offers an incredible opportunity once broken into.

According to VettedBiz, cannabis sales in 2021 were approximately $26 billion, and the market is projected to surpass $40 billion by 2026.

Here are a few cannabis franchise concepts and what they have to offer.

Far & Dotter

Far & Dotter is an inclusive dispensary concept backed by Curio Wellness. According to its website, this concept “help[s] people declutter, decipher, and demystify a changing cannabis landscape.”

In August, the concept announced the signing of its first two franchisees, both of which were recipients of a Curio Wellness-associated program, The Fund. The Fund “will provide start-up capital for minority business owners to open their own Curio Wellness franchise location,” an incredible support offering as traditional banks tend to turn away cannabis entrepreneurs.

Eufloria

Eufloria offers the best of both worlds — cannabis dispensary and retail CBD franchise opportunities. With a vision to “bring consistent, safe, and enjoyable cannabis retail experiences everywhere,” the concept has worked to develop an exceptional customer experience, design safe, welcoming stores and provide the purest products, all while complying with the necessary legal requirements.

Unity Rd.

This franchise concept positions its expertise as a key differentiator. Within the world of cannabis, there is plenty of confusing, contradictory information, and Unity Rd. aims to guide its franchisees through the clutter as it works to build “a national community of locally-owned dispensaries that offer guests an elevated cannabis shop experience.”

Currently, there are Unity Rd. shops open in three states, and agreements were signed for shop development in a total of 13 states.

Miracle Leaf Health Centers

Miracle Leaf boasts that it is the “fastest growing Medical Marijuana Clinic Franchise,” and becoming a franchisee with the concept allows entrepreneurs to break into the ever-growing industry. With lab reports, resources to obtain a medical marijuana card and in-depth product descriptions all available on its website, Miracle Leaf provides a remarkable amount of information to its curious customers.

Similarly, “Miracle Leaf offers a comprehensive and hands-on training program to ensure that franchisees are 100% equipped with the knowledge, skills and expertise to successfully operate their own center.”