Verday Dispensaries Ltd launch in the UK
Releaf Group Expands Franchise Model into the UK Cannabis Market with ‘Verday’
May 21, 2023 | News
London, UK – Releaf Group Limited, leaders in medicinal cannabis clinic and dispensary franchising have announced their expansion into the UK market with wholly owned subsidiary of UK Releaf Ltd, ‘Verday’. The new clinic and dispensary chain will provide high-street pharmacies and clinic services for medicinal cannabis consultations and medicine fulfilment via physical dispensaries and direct-to-home deliveries. The partnership is set to offer a unique franchise opportunity in the UK’s cannabis industry.
The company’s turnkey solution includes access to leading cannabis medicines, software, ordering platforms, marketing and more. In addition, the group’s professional education arm ICCM (International College of Cannabinoid Medicine) will support the training and recruitment of doctors and pharmacists.
This franchise opportunity is the first of its kind in the UK to offer a branded medical cannabis franchise in high-street pharmacies. With an estimated forecast of £5m per established location, franchisees will have access to global supply chains and exclusive premium brands. Verday’s franchise licensing fee starts at £150k, with an additional fit-out cost starting from £150k, subject to size and location, for a three-year licence.
Gary Mackenzie, Releaf Group Ltd CEO –
“We are excited to bring our unique franchise and wholesale distribution model to the UK cannabis market with Verday. Our turnkey solution, along with our global supply chain and exclusive premium brands, makes us the perfect partner for anyone looking to invest in high-street pharmacy locations. We are confident that this opportunity will be a game-changer in the UK cannabis industry with our specialist cannabis prescribing and dispensing solutions”.
The group has made the decision to enter the UK market under the name ‘Verday’ to distance itself from another company operating as ‘Releaf’ in the territory.
The company is calling for expressions of interest from pharmacists and entrepreneurs to secure exclusive territories in an initial rollout across the UK’s top 25 high-street locations.