Ontario-based cannabis retailer ShinyBud Corp. (TSXV:SNYB) is launching its retail franchise program.
Focused on becoming the top cannabis retailer in the province, the company said Friday that it's starting a franchising queue with the goal of opening 20 franchise stores in 2022.
Leading this growth initiative is the company's chief operating officer, Mike Nadeau, a seasoned veteran with over 20 years' experience as a retail operating executive for some of Canada's most iconic quick service restaurants, such as Tim Horton's and those owned by RECIPE Unlimited.
The company's franchise program offers best-in-class retail management support in all areas of the business, including location scouting and design, leasing negotiation, onboarding, industry regulations, and marketing, along with award-winning products and strong relationships with reputable licensed cannabis producers.
"Over the last year, the ShinyBud label generated solid momentum and we assembled a team at both the board and management level with exceptional branding, franchising, and retail operating expertise," Nadeau explained. "We plan to emulate the same principles for success as we launch our franchise program and continue building the ShinyBud brand."
Kevin Reed, chairman and CEO, said that "Applying the franchise business model advances our growth strategy in 2022 and beyond."
"As we grow, we are encountering strong inbound interest for this type of business partnership, and we have the core-competencies to do it right, Reed added.
ShinyBud is a cannabis retailer with over 35 well-established corporate and licensed locations across Ontario catering to diverse consumer profiles.
Photo: Courtesy of Mike Petrucci on Unsplash
