Spiritleaf Inc., a subsidiary of Inner Spirit Holdings Ltd., has become the first marijuana franchise of the Canadian Franchise Association (CFA).
The leading franchise association in Canada, the CFA is recognized as a franchise authority countrywide. Each CFA member must follow a “Code of Ethics” regarding standards, practices, policies and conduct.
This cannabis franchise has been gaining ground quickly as national legalization looms.
Spiritleaf has already granted 16 individual franchises across Canada. It is about to embark on a nationwide tour to introduce its concept in advance of its anticipated initial public offering later this year.
Spiritleaf CEO Darren Bondar said the company is proud to join CFA and bring this new retail concept to the franchise industry. Recreational cannabis is expected to become legal in Canada by July 1, 2018, and the new CFA member is preparing to become the franchise and retail leader in this new market.
SpiritLeaf’s listing on BeTheBoss, a website featuring Canadian franchises, says the franchise requires an investment of between $200,000 and $400,000 and a 5 per cent royalty fee.