Every industry you can think of has prominent chains that everyone knows. But could marijuana be heading that way as well?
Golden Leaf Holdings is a Canadian cannabis company that's hoping to become the Starbucks or McDonald's of marijuana in America. The company has set up a chain of stores in Oregon called Chalice Farms, and recently signed an agreement BlackShire Capital to franchise the model throughout the United States.
“Like Starbucks is to coffee, we believe Chalice will be to cannabis,” said William Simpson, Golden Leaf’s chief executive officer.
The Chalice Farm stores in Oregon are currently pretty successful. The highest-performing dispensary is bringing in around $400,000 each month, while even the lowest performer is generating $100,000 per month. The stores are designed to create a warm, friendly atmosphere that will appeal to new customers.
Stores looking to becoming franchises will have to pay a $50,000 fee and a five percent royalty. BlackShire intends to open 35 to 45 Chalice Farm stores across the United States over the next two years.
Franchising a marijuana dispensary isn't quite the same as franchising a fast food restaurant. While McDonald's can ensure all their restaurants have the same quality ingredients and recipes, different state laws mandate what dispensaries can or cannot sell. And often dispensaries are limited to what nearby growers have available.
Chalice Farms hopes to avoid this issue by growing their own strains so their franchises are more or less the same.
Sounds like another chain that will be healthier than McDonald's.