Start a Sunmed - Your CBD Store Franchise in 2024

2024 Franchise 500 Rank: #228 Ranked #286 last year

Initial investment: $96K - $151K

Units as of 2024: 231

Your CBD Store is a large retailer of organic hemp products and the exclusive retailer of the SunMed and Sunflora range. It has outlets in many states and uses domestically grown hemp. CBD stands for cannabidiol, which many people believe is effective in treating anxiety, cognition complaints, difficulties in movement, and pain. However, Your CBD Store offers more than medicinal products; it carries a wide range of skincare items, edibles, books, and even treats for pets.

Your CBD Store is a young company - it started business in 2018 - that began franchising in 2020 and has quickly grown to over 225 franchises across the United States.

Why You May Want To Start a Your CBD Store Franchise

CBD products may be becoming even more popular. Your CBD Store may benefit from this increasing popularity but is unique in the quality of service it provides. Customers may feel welcome, and staff should be available to answer any questions that they might have. Another important factor in building trust is that Your CBD Store does not oversell its products. The company stresses that its products should not be a substitute for prescribed medications and that a customer should always ask for a doctor's advice.

A franchisee will be responsible for running their store in a manner that agrees with the company philosophy. A franchisee will be opening a store that is part of the community. They should be friendly and outgoing and ready with advice for their customers. This means that the franchisee must know their product line and the benefits that each product might offer. Many customers will be new to the variety of products, and some may be a little nervous about using hemp. The franchisee will create a comfortable, reassuring atmosphere.

What Might Make a Your CBD Store Franchise a Good Choice?

To be part of the Your CBD Store team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include royalty and renewal fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.

How To Open a Your CBD Store Franchise

If you are considering opening a Your CBD Store, you should research your local area thoroughly. Is there a market for these products in your area? Is there direct competition? Will it be easy to find staff to help you run your store? As you answer these types of questions, know that Your CBD Store offers its franchisees comprehensive support in all aspects of the business.

A franchisee will be fully trained in an existing store and will always have access to any further help they may need.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Your CBD Store franchising team questions.

Company Overview

About Sunmed - Your CBD Store

Industry	Health & Wellness
Related Categories	Miscellaneous Health Products, CBD
Founded	2018
Parent Company	SunFlora
Leadership	Marcus Quinn, CEO
Corporate Address	600 8th Ave. W., #500 Palmetto, FL 34221
Social	Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since	2020 (4 years)
# of employees at HQ	50
Where seeking	This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Wisconsin, West Virginia, Wyoming
# of Units	231 (as of 2024)

Information for Franchisees

Here's what you need to know if you're interested in opening a Sunmed - Your CBD Store franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$20,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$95,800 - $151,050
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$100,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$80,000
Veteran Incentives Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.	Franchise fee waived; $5,000 product credit
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	2%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	5 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	Sunmed - Your CBD Store has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training	16-24 hours
Classroom Training	16-24 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
# of employees required to run	2
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes