The Minnesota hemp experts at Nothing But Hemp have recently reformulated their approach to opening new locations where customers can get the CBD products and information they rely on.
In earlier plans, Nothing But Hemp CEO and founder Steven Brown had put forth proposals for interested parties to join franchises of the Nothing But Hemp brand, but the new approach is to offer licensing opportunities with even more benefits for everyone involved.
Why licensing over franchising?
Regulatory pressures and legal classifications cause more costs for both those looking to open a franchise and those back at the franchise headquarters. The move to offer interested entrepreneurs licenses with Nothing But Hemp also promises more independence, freedom and creativity.
Nothing But Hemp owns four locations in the Twin Cities area, making it the largest dedicated supplier of hemp and CBD in the state of Minnesota. These can be found in Minneapolis’ Uptown neighborhood, Maplewood, Forest Lake and in St. Paul on Grand Avenue.
The licensing approach promises a fixed monthly licensing fee that makes things far more lucrative both for the parent brand of Nothing But Hemp and also for those entrepreneurs and investors interested in joining with the best in the hemp business.
All of the same benefits of the initial plan to expand Nothing But Hemp will be present in the new approach, including education about CBD and the best products within the industry.
The idea behind the licensing approach is to pull education about CBD products and their use to the forefront, since that education and know-how is the strongest aspect of Nothing But Hemp locations and the Nothing But Hemp brand.
CEO Steven Brown said this licensing model based on education would end up resembling the model used by Cross Fit exercise affiliates, where leaders at Nothing But Hemp would visit the different licensed locations to perform training sessions for managers, keeping the affiliate up-to-date on the newest products and their uses.
Affiliates would be responsible for travel costs, but ultimately the management staff at Nothing But Hemp and their expertise on hemp and CBD topics means there will be a deep pool of knowledge to draw from, keeping you at the industry’s cutting edge.
To read more about the former franchising plan and the benefits of partnering with Nothing But Hemp, follow the link below. [1]
Since the license fees are a fixed rate $4000 per location and $900 per month royality fee is independent of commissions on sales, the financial benefits are far superior to other systems that demand 10% monthly commissions from the franchisee, especially as locations grow in success and sales.
Nothing But Hemp CEO Steven Brown said he’s excited about the move to a licensing model to expand the NBH brand. “I look around at franchises of places like Starbucks, McDonald’s and others, and aside from the financial aspects, every location looks the same,” Brown said.
“Licensing comes with some risks, but it also means each location has more ownership over their operations and can exercise more creativity.”
Sources
[1] https://www.nothingbuthemp.net/blog/nothing-but-hemp-continues-innovating-in-the-cbd-industry-with-new-franchise-opportunities
