One of the major players in the burgeoning legal marijuana business is lighting up the franchise fires for its recently introduced restaurant chain. North American Cannabis Holdings is targeting multi-brand, quick-serve operators with its $2 million AmeriCanna Cafe revenue rollout plan over the next year, according to a company press release.
The company took its first step toward launching a cannabis-themed restaurant last year when it purchased a 10-year-old fitness cafe and nationally branded smoothie product. That gave the company a platform to launch its AmeriCanna Cafe concept, which has racked up $500,000 in sales over the last 12 months, according to a news release.
The cafe is described by the company as "a destination beverage company where consumers can interface with trained staff to learn about the specific benefits of cannabis and select healthy and refreshing cannabis-infused beverages." The menu includes hemp-infused coffee, cold-pressed juices and smoothies, as well as raw hemp seeds and other hemp-infused foods.
"As state and federal law permits, THC-infused beverages and foods will be added to the menu." according to the Dallas-based company's website.
A look at the immediate road ahead
North American Cannabis Holdings said it expects about $1.5 million in revenue over the next 12 months to be generated by licensing and franchising contracts for new restaurants. The company also expects to generate about $500,000 from sales of its recently announced EVERx sports and fitness supplements.
That rosy forecast is based on a single license agreement, which should yield a number of cafe openings. Two additional such agreements are being negotiated and many more are being pursued, the company said. All of those pending negotiations could well push those revenue forecasts further up.
Marijuana, or cannabis, is legal to consume for recreational purposes in four states, including Alaska, Colorado, Oregon and Washington. A number of additional states allow its use for medical purposes and several states also have legislation under discussion or pending. Many other parts of the world have decriminalized the product's usage recreationally, including most of South America and Russia.