As cannabis experiences meteoric momentum and reaches optimistic milestones toward legalization on the state and federal levels, the $25 billion industry continues to grow exponentially in market size. Each year new states introduce adult-use and medicinal cannabis through ballot measures while widened acceptance among the public continues to rise. Over time, cannabis has proven to be an essential business due to the benefits it provides as an alternative medicine and the additional revenues it generates for local communities. Keen entrepreneurs are looking for the opportunity to enter the budding industry that is set to hit nearly $52 billion by 2026, according to Marijuana Business Factbook.
The demand for cannabis is surging along with the number of markets across the country advocating for legalization. There are currently 38 states that have legalized medicinal cannabis and 19 states, including the District of Columbia, that allow adult use. The increasing acceptance has prompted some states, including Connecticut, New Mexico, New York, Virginia, and Rhode Island, among others, to pass legalization bills this past year while many—particularly in the Northeast—quickly emerge and follow. According to a November 2021 Gallup poll, 68 percent of U.S. adults support cannabis use, and it is predicted that another three to five states will press for local reform as soon as next year.
As the legalization of cannabis consumption makes promising strides, heavily funded, multi-state operators (MSOs) are occupying large market shares and dominating the space, making it difficult for one to three-unit operators to compete and for industry newcomers to take a piece of the booming market. The solution is franchising.
U.S. pioneer Unity Rd. is blazing a new trail as the nation’s first true cannabis dispensary franchise in a budding industry—that is still in its infancy. Unity Rd.’s mission is to inspire confidence in the benefits of cannabis for all while keeping the door to dispensary ownership open to everyday entrepreneurs by empowering them with the proven business model, resources, and ongoing support they need to successfully open a compliant dispensary.
The intricacies of operating a cannabis business can make it complex for small, independent dispensaries to navigate everyday challenges in their specific market. The franchisor offers one of the safest and most direct routes for entrepreneurs to enter the industry with ease. Its time-tested Standard Operating Procedures (SOPs) and experienced team, with a collective 200 years of in-depth experience in legal cannabis and franchising, guide franchise partners through every operational function of the business – from securing a license to product selection, assisting with cash flow and following ever-changing regulations.
“Unity Rd. represents the intersection where local business ownership meets cannabis,” said Mike Weinberger, chief franchise officer at Unity Rd. “As we continue to expand into new markets across the U.S., we search for passionate franchise partners to bring onto our team, who understand the benefits of cannabis first-hand and want to tap their entrepreneurial backgrounds into a complex yet budding industry.”
Poised for rapid growth, Unity Rd. is currently expanding into eight medicinal and adult-use cannabis markets—Colorado, New Jersey, Maine, Virginia, Michigan, Oklahoma, New Mexico, and South Dakota. The brand has two operating shops in Boulder, Colorado, and Oklahoma City and anticipates opening new shops in Lewiston, Maine, Denver, and a few other cities throughout the U.S. by the end of 2022. Unity Rd. has an active development pipeline across 10 states, driven by more than 20 entrepreneurial groups looking to diversify their portfolios. Among them are Adam Jorgensen and B.J. Olson, the brand’s partners in South Dakota, who received state and local approval to open one of the first medicinal dispensaries in the Sioux Falls suburb of Hartford this summer.
The entrepreneurial duo, who has an impressive, combined background in wireless technology and retail, are true believers in the power of cannabis and want to be able to share this with their community. Partnering with Unity Rd. aids them in navigating the industry successfully with the support they need while ensuring their neighbors have the best shop experience possible.
“Although I have deep entrepreneurial experience in retail, I know operating a dispensary adds a significant level of complexities to navigate. Unity Rd. reduces hurdles and provides a proven playbook on how to be a successful, compliant, and resourceful leader in our market,” said Olson.
“Educating our community about cannabis is our top priority. Our Unity Rd. shop will be the go-to local resource they can rely on to find the right products,” added Jorgensen.
While cannabis continues to transform and reach new heights, it will simultaneously provide lucrative opportunities to those who are interested in staking their claim in a complex industry that is bursting with potential.
To learn more about the Unity Rd. franchise opportunity, contact franchise@unityrd.com, call 720-923-5262 or visit unityrd.com.
