Cannabis has grown in popularity over the last several decades, and the legalization movement has been gaining momentum. Information about starting a Your CBD Store franchisee, including costs, fees, and availability in 2022.
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.
Your CBD Store
Join the largest network of CBD brick and mortar stores. Enjoy the perks of owning your own successful business while also making a difference through partnerships, community, education, experience, and only the highest quality products.
What Does a Your CBD Store Franchise Cost?
To buy a franchise with Your CBD Store , you’ll need to have at least $70,000 in liquid capital and a minimum net worth of $300,000 . Franchisees can expect to make a total investment of $69,800 – $90,300 . Your CBD Store charges a franchise fee of $5,000. They also offer financing via 3rd party as well as a discount for veterans. *
Financial requirements for this franchise :
What does Liquid Capital mean?
What does Net Worth mean?
What does Franchise Fee mean?
|Total Investment:||$69,800 – $90,300
What does Total Investment mean?
Options available to franchisees :
|Financing:||Via 3rd party|
|Veteran Discount:||Yes, Franchise Fee is totally waived for Veterans|
Facts about this franchise :
|Home Office:||Palmetto, FL|
Your “Award-Winning” CBD Store
Your CBD Store is the largest CBD retailer in the United States and the exclusive home of award-winning, hemp-derived SunMed and Sunflora products. With more than 500 stores in 41 states, we’re bringing the highest quality CBD experience to customers nationwide.
Your CBD Store began with one woman, one story, and one store. Today, we have countless success stories and over 500 stores nationwide. We believe in providing the most transparent and dependable CBD products that utilize natural plant synergies. That’s why we have rigorous standards for quality and consistency and harvest only the highest-quality hemp products, grown in the U.S. We are dedicated to our community; earnestly providing contributions to our local and national partnerships.
The “Your CBD Store” Experience
Your wellness journey is one-of-a-kind—that’s why you’ll find options and education at every Your CBD Store location. We partner with our customers to create regimens for every lifestyle and empower them to choose the right products for their needs. With every visit to our stores, you’ll find a warm, welcoming environment and one singular goal: to help you find your CBD.
Why Your CBD Store?
- Help others through the use of natural, hemp-derived products
- Your CBD Store™ products are made using only the high quality grown hemp from the USA
- We’re rapidly expanding from coast-to-coast!
Hemp has a unique cannabinoid profile with less than 0.3% of THC-delta-9. Our products come in various forms and levels to meet each customer’s needs and preferences. You can choose from water-solubles, edibles, tinctures, soft gels, and topical applications. We even have tinctures and treats for pets. Our products are intended to be used as an herbal supplement.
- Peppermint Topical Cream
- Broad Spectrum Tincture CBG Dominant
- Organic Pet Tinctures
- CBD Sour Bears
Your CBD Store now features Organic CBD: Now Even Greener – A new line of USDA-Certified Organic products and experience whole-plan CBD in a whole new way!
Are you looking to join the largest network of CBD brick and mortar stores? Enjoy the perks of owning your own successful business while also making a difference through partnerships, community, education, experience, and only the highest quality products.
If you display a resourcefulness to integrate into your community and provide ideal customer service, this is the right opportunity for you!