Curio Wellness announced its innovative franchise program in 2020, and today it’s bringing the program across the United States. Now, the company accepts franchise applications from ten states: MD, VA and PA.
This program is intended to reduce barriers for dispensaries opening. Anybody can apply for a franchise license. Diverse founders may also seek capital via the Curio Wellness Fund. Curio Wellness hopes to have the ability to sponsor between 40 and 50 retail shops. Far & Dotter will also be the new brand for its retail operations.
TechCrunch interviewed Jerel Registere, Curio’s Managing Director. He stated that the fund has raised over 20 million and will close its fundraising efforts on October 31. The fund’s diverse investor base is what he’s proud about, with 40% of them being part of it.
Registre stated that his focus is on driving diversity in entrepreneurship. The reason that cannabis is such an exciting industry is because it offers a huge opportunity. This is a huge ocean for entrepreneurs to expand their diversity. This is an important area in the economy. There’s great understanding about the importance of diversity.
According to Registre, while cannabis’ customer base and employees are diverse, the business owners and executives of the company often lack diversity. Curio Wellness aims to change that.
Select franchisees can receive up to 93% capital to start a new location. It’s much more than just capital. Registre was able to see that the team has a clear goal to create a successful strategy for franchises. Chick-fila is a good example. He says that while he does not like Chick-fila’s relationship to its franchisees it creates a strong brand identity and provides market leadership. The Curio program provides two levels of support to franchisees. First, franchisees receive capital for opening Curio Wellness Centres. This will help them to obtain licenses and select a location. Second, it helps to train and hire employees. The fund will continue to support the manager, marketing and store operation, as well as employees, once the facility is open.
“After over two years of work to create an efficient method to provide capital to divers entrepreneurs in the cannabis sector, it’s a personal honour to officially start the application process. This will allow us to expand diversity and empower the economy,” stated Registre. The Fund is an expression of Curio’s mission to eliminate systemic obstacles and generate generational wealth for aspiring women entrepreneurs, BIPOC and veteran disabled entrepreneurs.
The program is currently in full swing. Cannabis was one of the winners of the COVID-19 pandemic, resulting in record sales and consumer acceptance. It is now that dispensaries should reflect the local communities they serve.
Publited at Thu 26 August 2021, 18:34.39 (+0000).