Sometimes being lucky is better than being good and Jeff Mascio and Joshua Mann of Cannabis One got lucky when they found themselves in a legal battle with ONE Cannabis over the company name.
After shortly being at odds, the two companies realized that they were more complimentary than competitive against each other, so instead of going through with a cease and desist complaint, the two companies decided to merge instead.
Being both Coloroda companies, they were just as far along in their development of their business model as we were in ours. And their business model is so synergistic and complimentary to our business model that it actually speeds up our progress by about five years by introducing the franchise model,” said Cannabis One CEO Jeff Mascio.
2019 was the year of the capital crunch in the cannabis industry, and integrating that franchise model allows Cannabis One to be agile in a changing landscape.
“The franchise model allows us to shift a lot of the capex over to the franchisee. And it allows us to become an asset light, capex light dispensary model, where we still get access to those jurisdictions and those addressable populations,” said Cannabis One President Joshua Mann.
To hear more of from the interview, check out the video above.
Catch up on the Latest Videos on TheStreet!