Curio Wellness is a medical cannabis brand based in Maryland. They sell flower, edibles, cannabis tablets, vapes, TC balms and more! The company put together this fund with the plan in mind to help over 50 women and disabled veterans open up their own Curio Wellness franchise. After over three years of operation, they will be able to own it 100%.
The Curio managing director Jerel Registre spoke to TechCrunch about the fund and what it means to him:
"We think of diversity as a keystone issue for the cannabis industry."
He is well aware of a huge issue in the cannabis industry---not enough women or minorities are owners of weed companies! Michael Bronfein, CEO of Curio Wellness spoke about the fund as well:
“In looking at the systemic barriers that women, minorities and disabled veterans face in accessing capital, we decided to develop a solution that directly addresses this massive economic disparity. The Fund provides qualifying entrepreneurs with the investment capital they need to become a Curio Wellness Center franchisee while ensuring their success through our best in class business operations.”
Curio Wellness puts their money where their mouth is for sure, since of their current 200 employees 40% are women, and more than half of the workers are minorities.
The fund was made with two important points in mind. The first is obviously to provide capital to entrepreneurs in order to open their own Curio Wellness franchise. The fund is also helping in all areas of the business such as hiring/training employees, choosing a good location, getting the right licenses needed, and more. Then, once the business is in full motion, the fund will also provide help with management, sales, marketing, and keeping employees updated with the latest knowledge.
If you're interested in applying for this fund, you'd have to wait a bit longer. Most likely, by early 2021 the applications will be opening. The company has reached a little more than half of their $30 million goal, so be on the look out ladies!!!! This would definitely be a great opportunity for a lot of us.
Be sure to follow on social media so I can let you know once the applications open.