Curio Wellness Expands Cannabis Retail Franchises

Curio Wellness Expands Franchise Opportunities Nationwide

Curio Wellness initially launched its franchise program in 2020, and is now extending its reach throughout the United States. Currently, the company is actively reviewing franchise applications from candidates in ten states: Maryland, Virginia, Pennsylvania, Ohio, Missouri, New Jersey, Florida, Massachusetts, Michigan, and Illinois.

Lowering Barriers to Dispensary Ownership

This initiative is specifically structured to reduce the obstacles associated with establishing a dispensary. Individuals from all backgrounds are encouraged to apply for a franchise license, and founders from underrepresented groups can access financial resources through the Curio Wellness Fund.

Curio Wellness anticipates supporting the development of between 40 and 50 retail locations. Concurrently, the company is undergoing a rebranding process, transitioning its retail presence to operate under the name Far & Dotter.

The Curio WMBE Fund: Investing in Diversity

Jerel Registre, managing director of the Curio WMBE Fund, revealed to TechCrunch that the fund has already secured $20 million in funding. Final fundraising is projected to conclude by October 31st.

Registre expressed pride in the fund’s diverse investor base, noting that 40% of the fund’s capital comes from investors representing a wide range of backgrounds.

Driving Diverse Entrepreneurship in Cannabis

“My primary focus with the fund is to foster diverse entrepreneurship,” Registre stated. “The cannabis sector presents an exceptional opportunity for this, given its rapid growth and the potential for increased diversity among business owners. It’s a burgeoning area of the economy with a recognized need for inclusivity.”

Registre highlighted a disparity within the cannabis industry, observing that while the customer base and workforce are often diverse, representation at the executive and ownership levels frequently lags.

Comprehensive Support for Franchisees

The fund offers selected franchisees access to up to 93% of the capital required to launch a new location. However, the support extends beyond mere financial assistance.

Registre emphasized his team’s commitment to developing and implementing a robust, proven strategy for franchise success. He referenced Chick-fil-A as a model, acknowledging its strong brand consistency, despite reservations about its franchisee relationships.

Curio’s program provides franchisees with support in two distinct phases. The initial phase focuses on securing capital, obtaining necessary licenses, site selection, and employee recruitment and training.

Following the launch of the location, the fund will continue to provide ongoing assistance with management, sales and marketing strategies, store operations, and ensuring staff remain current on product knowledge.

A Commitment to Economic Empowerment

“It’s a personal honor to officially initiate the application process after more than two years dedicated to crafting an effective capital provision system for diverse entrepreneurs in the cannabis industry,” Registre commented. “This Fund embodies Curio’s dedication to dismantling systemic barriers and fostering generational wealth for aspiring women, BIPOC, and disabled veteran entrepreneurs.”

Timing and Market Opportunity

The timing of this program is particularly advantageous. The COVID-19 pandemic spurred significant growth in the cannabis industry, leading to record sales and increased consumer acceptance.

Consequently, the current environment is ideal for ensuring that dispensary ownership more accurately reflects the diversity of the communities they serve.