Since the states of Washington and Colorado legalized marijuana for recreational and medicinal consumption back in 2012, experts watched as a brand-new industry sprouted into the economy, brimming with potential to be one of the most lucrative in existence. Eight years later, more states have followed through with legalization, resulting in hundreds of dispensaries opening to break ground in this industry. With competition between dispensaries and other marijuana concepts rising, franchising within this industry is experiencing a strong surge because everyone wants to become the nationally-recognized face for marijuana products. Let’s take a look at why dispensaries should develop their business into a franchise, and why entrepreneurs should invest in franchising a marijuana-based concept.

 

Why You Should Franchise Your Dispensary

The biggest reason people develop their concept into a franchise is to catalyze the expansion timeframe. Opening additional locations on your own will most likely exhaust yourself as well as your resources. Franchising allows an entrepreneur to invest their own money and time into opening a second location under your brand. In a relatively new industry, time is of the utmost importance, so franchising allows you to gain an upper hand against your competitors.

 

As previously mentioned, entrepreneurs everywhere are racing for the opportunity to grow their business within the marijuana industry to become the “McDonald’s of weed.” That being said, if you operate your own dispensary, the first course of action to take is refine your branding, and file a trademark for it. Because of the legislation that has hindered marijuana for the past century, there was – and still is – a substantial amount of taboo around the plant, even as a legitimate product. That’s why it’s important for your branding to help consumers feel welcomed and respected, and not intimidated or alienated. Without trademarking a strong brand, a nasty-minded competitor is capable of trademarking your brand and prevent you from expansion until you change the name of your business.

 

In addition to branding, developing your dispensary into a franchise will help you refine your business for optimal performance. Why? Franchising requires business owners to scale their operations and identify areas of concern as well as where the business thrives. Doing this means you know which marijuana products sell well, which products should be removed from inventory, and spotting any discrepancies in protocol and/or staffing to reduce overhead. An extra benefit of franchising a dispensary means that you’ll expand your network of marijuana vendors in the industry, giving you more buying power with the ability to provide consumers with the industry’s best and safest marijuana products.

 

What Other Marijuana Concepts Can Be Franchised?

Some states have legalized only the medicinal aspect of marijuana, meaning that patients who seek medicinal marijuana (MMJ) have to undergo a thorough process to be prescribed marijuana. Despite the regulations in place, there are many predatory entrepreneurs who are taking advantage of the misinformation that is plaguing the industry and patients who are new to marijuana. That’s why there has been an uptick in businesses designed to help connect patients to qualified medical professionals who can help prescribe them medical marijuana.

 

What Are the Best Dispensaries to Franchise?

Franchise Creator is no stranger to the medical marijuana industry. We’ve successfully franchised multiple marijuana dispensaries from various states. The following is a list of concepts that have franchised with us and are ready for expansion!

 

  • Canna-Stop: This Oklahoma-based dispensary garnered a large, dedicated customer base because of their commitment to provide their customers with extensive information about cannabis, the intended effects of THC and CBD, and the various ways to consume marijuana products. Their franchise model also incorporates a drive-thru model, which makes it easier for patients to get their medicine in the post-COVID era, and easier for franchisees to earn a profit with an extra revenue stream.

 

  • Eufloria: Also located in Oklahoma, this concept focuses on listening to MMJ patients to help them find the most optimal cannabis product that meets their needs safely. Eufloria is committed to connecting with the industry’s best vendors and extensively test their products to ensure high quality. Eufloria would never sell a product they wouldn’t consume themselves.

 

  • The Bake Shop: Currently under development, this franchise opportunity has successfully created a branding that allows customers to bypass the existing stigma around marijuana. With multiple locations in Washington and Oregon, keep your eyes peeled for the announcement of their official franchise emergence!

 

The benefits of investing to franchise a dispensary include: operating a proven business model with strong branding, having access to a stronger network of cannabis vendors compared to starting a dispensary from scratch, and receiving the leadership and guidance from experienced entrepreneurs who understand the intricacies of the industry. Whichever you choose, you will hit the ground running and surpass the competition in your area!

 

What Are the Best Referral Concepts to Franchise?

Express Marijuana Card is a Florida-based medical marijuana certification concept that helps certify physicians under the Office of Medical Marijuana Use to prescribe MMJ, as well as streamline the process for patients to qualify and receive their MMJ card. Their intuitive business model utilizes an easy-to-use CRM system that gives you control of your franchise. Franchisees are responsible for networking with physicians in their area to help them grow a strong patient base for MMJ by providing accurate and honest information about MMJ to patients who are interested. Because Express Medical Cards does not require a product to make or stock, the start-up investment is incredibly affordable, allowing you to earn a faster return on your investment with substantial profit margins!

 

If you’re an entrepreneur located in a state where medicinal and/or recreational marijuana is legalized, contact Franchise Creator to learn more about these incredible opportunities!