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Sarasota-Manatee
Business Observer Monday, Aug. 15, 2022 1 month ago

Marijuana industry continues to sprout in Florida

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A new location in Cape Coral and a locally based company with franchise growth prove the industry is far from slowing down.

Cannabis-related stores have sure taken a hold in Florida. The billion-dollar industry hasn't slowed down any, which is more-than-ever clear by the amount of growth the businesses within the marijuana industry are experiencing. 

Illinois-based Cresco Labs Inc. recently opened a new medical cannabis dispensary in Cape Coral. The company is an integrated multi-state operator and branded cannabis product wholesaler. The new store, Sunnyside Cape Coral, is the company’s first in north Lee County. It’s located at 1897 Del Prado Blvd. S., according to a statement. 

“We’re excited to continue expanding our retail presence on the west coast of Florida with the opening of Sunnyside Cape Coral,” Cris Rivera, Florida regional president, says in a release. “Sunnyside Cape Coral is a judgment-free home to the best selection of medical products in Southwest Florida. Our bright and welcoming store offers convenient and easy one-stop shopping, helpful education from wellness advisors, and a wide assortment of top-quality branded cannabis products. We are looking forward to welcoming Cape Coral area patients to our new location.”

The store will serve patients who have a state-issued medical card. The company operates 17 stores in the state, including locations in Avon Park, Bonita Springs, Boynton Beach, Cape Coral, Clearwater, Fort Lauderdale, Jacksonville Beach, Lady Lake, North Miami, Ocala, Oakland Park, Orlando (Fern Park), Pensacola, Port St. Lucie, Sarasota, St. Petersburg and Tallahassee. 

Read More: Company delivers a dose of technology to the tricky side of banking in the marijuana industry

Palmetto-based hemp retailer Your CBD Store–Sunmed also recently reported some growth in the form of 37 new franchise locations in the U.S. The growth was reported in the first two quarters of this year. Those locations are expected to open in the coming months. With the new locations, the company is now in 39 states and two counties. 

Your CBD Store also announced a partnership with the Association of Pickleball Professionals to launch its newest topical CBD line. 

Read More: Billion-dollar industry blooms as acceptance for marijuana becomes widespread

“This is an exciting time to be the No. 1 CBD retail franchise, and as a company, we are proud of the footprint we are creating in this industry,” Thomas Scott, Your CBD Store's VP of franchise development, says in a release. “Our store owners and affiliates work in tandem to educate our customer base on the benefits of CBD for their health and wellness journeys, and as we continue to expand through research partnerships and new product launches, we lend our voice to empower modern wellness by keeping our audiences engaged and informed.”

There are over 500 Your CBD Stores with more than 300 of those being franchise locations.  

“Leading research and development within our fast-growing industry, our goal is to continue to meet our consumers where they are in their wellness journeys to truly offer the best possible product at the highest quality,” CEO Marcus Quinn says. “We’ve hit the ground running in 2022 and have exceeded our own expectations. We’re excited for what the rest of this year has in store.”

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