- Franchise 500 Rank
-
N/R Not ranked last year
- Initial investment
-
$89K - $162K
- Units as of 2020
-
13 1,200.0% over 3 years
Founded in 2015 and based in Colorado Springs, Colorado, Discover CBD sells cannabidiol (CBD) and hemp related products. It also strives to educate about the health benefits of these products. Discover CBD was started by three individuals: a medical doctor, a marijuana and hemp horticulturist, and a natural and medicinal supplement professional.
Discover CBD aims to bring CBD health benefits to the masses and offers a wide range of products including tinctures, edibles, lotions, and performance patches. They opened their first retail location in August 2017 and have been franchising since 2019.
Why You May Want To Start a Discover CBD Franchise
Discover CBD has several years of experience in the cannabis industry and may be suitable for franchisees passionate about educating customers about the benefits of CBD products. The company focuses on being a reliable, knowledgeable, and professional business where customers can get high-quality products. The business model may be simple to operate, and franchisees will receive support from a team of professionals.
The brand offers a wide range of products and accessories for both wholesale and retail customers. This diversification of product distributions may help to further solidify your business. Discover CBD also gives exclusive territories to reduce competition from other Discover CBD franchises.
What Might Make a Discover CBD Franchise a Good Choice?
Discover CBD believes it goes above and beyond when setting up well-defined business processes and systems for their franchisees. They are committed to conducting ongoing research and development on better operating retail locations and managing a growing Discover CBD franchise.
Potential franchisees are expected to present a statement summarizing prior business experience for their franchise application. Franchisees will also have to commit to running a full-time business with several employees. A typical franchise agreement runs for ten years. Franchisees may be allowed to renew their agreement if they meet the Discover CBD requirements.
To be part of the Discover CBD team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set liquid capital requirements.
How To Open a Discover CBD Franchise
As you decide if opening a Discover CBD franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Discover CBD franchise would do well in your community. Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Discover CBD franchising team questions.
If awarded a franchise, franchisees receive a great deal of support from the Discover CBD brand throughout the franchising process. In addition to a few dozen hours of classroom training, franchisees receive support through brand awareness, marketing, research, and site selection. They also receive multiple hours of on-the-job training and continued support after their franchise location has opened.
Company Overview
About Discover CBD
| Industry | Health & Wellness |
|---|---|
| Related Categories | Miscellaneous Health Products, Miscellaneous Retail Businesses, CBD |
| Founded | 2015 |
| Leadership | Melinda Block, COO |
| Corporate Address |
2255 Reliable Cir. Colorado Springs, CO 80906 |
| Social | Facebook, Twitter, Instagram, YouTube, Pinterest |
Business Overview
| Franchising Since | 2019 (5 years) |
|---|---|
| # of employees at HQ | 22 |
| Where seeking |
This company is offering new franchises in the following US states: This company is offering new franchises in the following international regions: |
| # of Units | 13 (as of 2020) |
|
|
|
Information for Franchisees
Here's what you need to know if you're interested in opening a Discover CBD franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
|
Initial Franchise Fee
|
$30,000 |
|---|---|
|
Initial Investment
|
$89,300 - $161,500 |
|
Cash Requirement
|
$115,300 - $246,500 |
|
Royalty Fee
|
5% |
|
Ad Royalty Fee
|
1% |
|
Term of Agreement
|
10 years |
| Is franchise term renewable? | Yes |
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
| On-The-Job Training | 14 hours |
|---|---|
| Classroom Training | 24 hours |
| Ongoing Support |
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
|
| Marketing Support |
Co-op Advertising
Ad Templates
Regional Advertising
Social Media
SEO
Email Marketing
Loyalty Program/App
|
Operations
Additional details about running this franchise.
| Is absentee ownership allowed? | Yes |
|---|---|
|
Can this franchise be run from home/mobile unit?
|
No |
|
Can this franchise be run part time?
|
No |
| # of employees required to run | 2-3 |
|
Are exclusive territories available?
|
Yes |
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