Franchise Deep Dive: Bud’s Place Franchise Costs, Fees, Profit and Data

LAST UPDATED: August 2023

FRANCHISE WEBSITE: https://buds-place.com/franchise/qualifications/ 

REPORTED COST TO GET IN: $600,400 to $1,196,500 

REPORTED ROI (Item 19): N/A

Bud’s Place is a franchise that provides social cannabis consumption lounges in a bring-your-own format (no dispensing until federally legal). It has food, beverages and accessories in a facility where customers can enjoy their own cannabis and have “HIGH. QUALITY. FUN.”

How Many Bud’s Place Locations Are There?

Bud’s Place was established in 2019 by Mark Cohen and Ron Silberstein, who saw a gap in the market for somewhere safe, clean and fun that people could enjoy cannabis. 

In 2021, Bud’s Place announced a Collaboration Agreement with Status Group International Corporation (SGIC) in which SGIC will help Bud’s Place accelerate its growth and aid in its expansion worldwide. There are single- and multi-unit agreements available across the United States. 

What Is Bud’s Place’s Business Model?

Since opening, Bud’s Place aims to be a game changer for franchisees, with a game plan that will:

• Change their lives and their customers lives for the better
• Enable them to build a solid financial future or enhance the one they already have by providing the customers of Bud’s Place lounges with an upscale, relaxing-yet-energetic, clean, comfortable and safe environment to enjoy their cannabis products, alone or with friends
• Provide Bud’s Place customers with excellent quick service casual food and outstanding, friendly service so they can eat, drink, relax, work, play games, watch TV or mingle with each other.
• Invite Bud’s Place customers with a place they can feel at home
• Require Bud’s Place lounges that follow the rules, are active in the community, and believe in giving back and providing social equity
• Strive to get better every day and to be a place for all to have High. Quality. Fun.

How Much Can Bud’s Place Franchise Owners Make?

Bud’s Place does not have a publicly available Item 19. To learn more, contact the team about reading the Franchise Disclosure Document (FDD), which will state the total earnings of any company or franchise-owned unit as a reference.

How Much Does It Cost To Open Bud’s Place?

The investment to open a single Bud’s Place will range between an estimated $600,400 and $1,196,500. The investment will vary based on size, location, license costs and air quality rules.

What Is the Franchise Fee for Bud’s Place?

The franchise fee for Bud’s Place is $75,000 for a single unit. There is a sliding scale for a multi-unit agreement.

Who’s On Bud’s Place’s Leadership Team?

• Ron Silberstein — Co-founder, Principal
• Mark Cohen — Chairman, COO
• Gary Stein — Director of Company Intelligence

What Helpful Articles Can I Read to Learn More About Bud’s Place?

• Bud’s Place, How It All Began
• Bud’s Place Franchising announces collaboration agreement with Status Group International
• Is A Cannabis Consumption Lounge Franchise in Your Future?
• Start a Bud's Place Franchise in 2023
• Bud's Place Franchise Cost and Requirements for 2023

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