FRANKLIN (Somerset) – Unity Rd., the first national cannabis dispensary franchise in the United States, will open its first New Jersey recreational marijuana store in the town in the first half of 2023. The store will be located in the shopping center at the address of st. 441 Elizabeth Ave.
Dishen Patel, the store’s owner, received approval from the state and township to open the business.
Patel has spent the past decade in private equity, investing in consumer-focused brands, including several franchise restaurants.
“I was looking for next-generation business opportunities in high-growth industries that I was passionate about,” Patel said in a press release, acknowledging that the $28 billion U.S. hemp market is on track to reach $46 billion by 2026. “I know how to run a retail business, but the cannabis space is full of complexities. I needed a direct path to remove barriers to entry and set myself up for success while making confident decisions.”
Unity Rd. has a license agreement with Patel. The company will provide consulting services on a variety of business matters, including real estate, licensing, compliance, operations, product procurement and marketing.
“From Unity Rd. team guiding me every step of the way, I can use their expertise to operate and grow my future dispensary while focusing my attention on what is most important – providing my neighbors with a reliable local source of cannabis they can rely on in the New Jersey community.” – said Patel.
Unity Rd. which has four stores open across the United States, is owned by Arizona-based Item 9 Labs.
“Introducing our Unity Rd brand. in New Jersey represents another milestone for the company. Not only will we enter a new cannabis market, but we will also expand our footprint in a highly populated region that increasingly supports legalization,” Item 9 Labs Corp. said. CEO Mike Weinberger. “We believe that as the adult cannabis market in New Jersey grows, this industry will have a positive impact on the state’s economy and residents.”