Canadian cannabis company Spirit Leaf Inc. has become a member of the Canadian Franchise Association – the first cannabis company to be granted membership into the association. The company, a wholly-owned subsidiary of Inner Spirit Holdings Ltd., already has granted four individual franchises – three in Calgary, Alberta, and one in Peterborough, Ontario – and has approved a 10-store development agreement in the Greater Toronto area.
“We are very proud to be a member of the CFA and to introduce our new retail concept to the franchise community,” said Darren Bonder, CEO of Spirit Leaf, in a press release. “This is another positive step forward for our company and I believe it also sets a high benchmark for the industry when the sale of recreational cannabis in Canada becomes legalized on or before July 1, 2018.”
The company plans on launching a national advertising campaign this fall, including ads in both franchise and cannabis-centric publications, and will be included on a national franchise show tour. Spirit Leaf is partnering with Search Kings for their digital ad campaign.
According to Spirit Leaf’s profile on BeTheBoss, a website featuring Canadian franchise opportunities, the franchise would require an investment between $200,001(US$160,561) and $300,000 (US$240,840), and a 5 percent royalty fee.