Unity Rd. Pinpoints Top Emerging Cannabis Markets For Opening a Dispensary
The cannabis industry is booming with legal sales projected to exceed $30 billion in 2023, a 14% increase from the previous year. As more states legalize adult-use and medical cannabis sales as well as public perception continues to positively shift, there is a substantial opportunity for entrepreneurs to enter the blossoming market. However, navigating the complex industry can be challenging, with varying laws and regulations that differ from state-to-state and change day-by-day.
Unity Rd. Helps Entrepreneurs Navigate Cannabis and Tap Full Market Potential
As the first national cannabis dispensary franchise in the U.S., Unity Rd. helps aspiring entrepreneurs break into the space by offering the unwavering support, resources and tools necessary to open and operate a successful and compliant cannabis business in their local communities. With a finger on the pulse of the fast-growing cannabis industry, the Unity Rd. team has identified eight markets currently offering the best and most direct route for market entry: Colorado, New Jersey, Maine, Michigan, Mississippi, New Mexico, Vermont, and Washington D.C.
Colorado, for example, is a mature market with a strong consumer base that has generated more than $12.2 billion in sales since the launch of its adult-use program in January 2014, according to the state's Department of Revenue. This makes acquisitions of existing dispensaries a viable route for those seeking a more immediate entry into the booming space. On the other hand, New Mexico only recently launched its adult-use cannabis sales last year and has already generated over $300 million in revenue. The sales and growth of the market remain steady, and the application process for acquiring licenses is currently ongoing, with no residency requirement in place. Moreover, Washington D.C. recently opened applications for new medical cannabis dispensaries without any residency requirement or limitations on the number of licenses issued.
Beyond those eight markets, with recent legalization, additional opportunities are projected to open in the near future. Kentucky recently passed a bill to legalize medical cannabis and Maryland also has legalized adult-use, with their licensing processes anticipated to go live in 2024. While the timeline varies by state from the legalization of cannabis to licensing for businesses, the Unity Rd. team sees it typically take around 18 months.
Build a Legacy and Invest in Local Communities Through Cannabis
Unity Rd.'s expert team, comprised of over 250 years of combined cannabis and franchise experience, helps franchise partners navigate the highly regulated industry through every operational function of the business. Their support provides prospective entrepreneurs the opportunity to bring the benefits of the growing industry to their hometown, strengthen their communities, invest in local programs, and build a legacy.
Unity Rd. Franchise Opportunity – Cannabis Dispensary
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