Unity Rd., the national cannabis dispensary franchise from Item 9 Labs Corp. (OTCQX:INLB), signed an agreement that will bring three shops to New Mexico, further solidifying its position as a fast-growing leader in cannabis franchising. Behind the agreement is serial entrepreneur, Joe Hernandez and his business partner, who mark the franchise's 20th entrepreneurial group to join and first partners in New Mexico. Unity Rd. recently helped the duo secure state approval for dispensary licenses of all three shops and will be assisting the team in moving forward with development.
Hernandez brings more than 25 years of combined real estate investment and business management experience to the table and has owned several businesses in the transportation, insurance and home services industries across multiple states. He and his partner plan to open three dispensaries throughout New Mexico. They currently have confirmed local city approval in Ruidoso and are awaiting approval from two additional cities for development.
"We have been looking to enter the cannabis space for the past few years but knew we first needed to find an experienced and knowledgeable partner to help us navigate licensing, operations and compliance," Hernandez said. "Unity Rd. is the first of its kind to help entrepreneurs like us enter a new cannabis market with a head start. Their proven systems, training and ongoing support is the perfect solution we need to navigate the delicate and complex industry."
Mike Weinberger, chief franchise officer at Unity Rd expects more partnerships to come. "Unity Rd. is the intersection where independent business ownership meets cannabis. We anticipate continued development of the Unity Rd. brand in New Mexico with like-minded entrepreneurs who are interested in entering the state at the start of its adult-use program."
Item 9 Labs Corp.'s chief franchise officer, Mike Weinberger, will be one of the speakers at the Benzinga Cannabis Capital Conference in Miami. There’s still time to sign up for the event that will host many top names in the cannabis industry. Click here for more info.
