By Jennifer Kaplan
Golden Leaf Holdings is taking the first step to becoming the Starbucks or McDonald’s of weed, even though marijuana remains illegal across much of the U.S.
The cannabis company has opened a chain of marijuana stores in Oregon called Chalice Farms. And now venture firm BlackShire Capital has signed a letter of intent to franchise the model, setting the stage for stores across North America.
Startups in the fledgling — but fast-growing — industry are vying to create the first household name associated with marijuana. With investment bank Cowen & Co. seeing legal marijuana sales reaching $50 billion by 2026 from just $6 billion in 2016, investors have flooded the space in the hopes of riding the so-called Green Rush to riches.
“Like Starbucks is to coffee, we believe Chalice will be to cannabis,” said William Simpson, Golden Leaf’s chief executive officer.
Read more at The Cannabist