Item 9 Labs Corp. INLB announced the accelerated growth of its dispensary franchise model, Unity Rd. across the U.S. with successful expansion into multiple new markets over the past two months.
The company has two dispensaries open in Colorado and Oklahoma with development across another 10 states, driven by more than 20 entrepreneurial groups. Item 9 Labs Corp. anticipates this positive momentum to continue throughout 2022 with a focus on fast-tracking franchise development by supporting Unity Rd. franchise partners in acquiring existing dispensaries in Colorado, among other target markets.
Expansion into New Cannabis Markets
The Item 9 Labs Corp. team recently assisted two of the brand’s first partners in South Dakota and New Mexico in securing state and local approval to operate in their markets’ cannabis programs.
The brand’s South Dakota partners B.J. Olson and Adam Jorgensen were awarded a license to open one of the first dispensaries in Hartford, a suburb of Sioux Falls, through the South Dakota Medical Cannabis Program. They broke ground on their shop on February 25, 2022 and anticipate being operational this summer.
Meanwhile, New Mexico recently opened to adult-use cannabis on April 1, 2022, and the market is booming. Dispensaries hit nearly $5.2 million in sales for adult-use cannabis products alone