TIMONIUM, Md.–(BUSINESS WIRE)–Curio Wellness as we speak introduced a brand new funding program that can present start-up capital for minority enterprise homeowners to open their very own Curio Wellness franchise location. Created for girls, minorities and disabled veterans, Curio Wellness’s funding fund (the Fund) will enable the medical hashish and wellness firm to additional its purpose of serving sufferers with secure, efficient and dependable cannabis-based medication in a number of states by means of its distinctive Wellness Center retail enterprise idea. A legally separate however affiliated entity from Curio Wellness, the Fund will join numerous buyers with up to 50 aspiring ladies, minority and disabled veteran entrepreneurs, offering $30 million in capital funding.
“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,” mentioned Michael Bronfein, CEO. “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.”
Banks and different conventional financing sources typically don’t present fairness, capital or loans for hashish start-ups. While this hurts all potential hashish enterprise homeowners, it disproportionately impacts ladies, minorities and disabled veterans. Through the assist of dedicated and numerous buyers, the Fund will remove essentially the most vital barrier stopping numerous participation on this burgeoning, quickly rising trade: a scarcity of capital in live performance with a confirmed enterprise mannequin and model.
The Fund will spend money on up to 50 ladies, minority and disabled veteran entrepreneurs in search of to open a Curio Wellness franchise location in states with thriving medical hashish applications. The $30 million Private Equity Fund will broaden range and allow financial empowerment by offering up to ninety-three p.c of the start-up capital wanted to launch a branded dispensary. Eligible entrepreneurs, by means of partnership with the Fund, might be enabled to launch a franchise as the bulk proprietor from day one and take pleasure in a transparent pathway to full possession as a franchisee.
“The Fund will expand diversity and enable economic empowerment for entrepreneurs who otherwise would be locked out of the rapidly growing field,” mentioned Jerel Registre, Director of Business Development at Curio Wellness and Managing Director of the Fund. “Our diverse set of entrepreneurs will repay the startup loans with their portion of the dispensary earnings, resulting in 100% ownership as a franchisee over time.”
The software course of to develop into a Curio franchisee is anticipated to open in early 2021 as Curio is accepted to set up franchises. The Fund will quickly announce its first closing and is anticipating to have a last closing earlier than 12 months finish.
About Curio Wellness
Founded in 2014 in Baltimore, Maryland, Curio Wellness is a cGMP licensed, vertically built-in medical hashish firm and trusted healthcare accomplice. Recognized because the main wellness model in hashish by BDS Analytics, Curio is dedicated to serving sufferers with focused, efficient and dependable cannabis-based medication. In 2018, Curio’s flower and topical balm have been named Best Flower and Topical in Maryland by Leafly. For extra info go to curiowellness.com.
This press launch has been ready solely for info functions. It shouldn’t be a suggestion to promote or a solicitation of a suggestion to purchase securities. The securities described on this Investment Opportunity Summary haven’t been registered underneath any federal or state securities legal guidelines or examined or handed upon by the Securities and Exchange Commission or any state regulatory authority. There are numerous dangers related to this and related investments. Anyone on this funding alternative ought to seek the advice of together with his, her or its personal unbiased monetary, tax, authorized, and different advisors earlier than committing to an funding. No such recommendation is being supplied herein.