Unity Rd., a national cannabis dispensary franchise, is officially entering the Garden State. The local Unity Rd. shop owner and entrepreneur, Dishen Patel, received approval for a recreational business license from the state of New Jersey and the municipality of Franklin Township in Somerset County to open and operate a new cannabis business.
Continuing the Recreational License Expedition in New Jersey
This approval is among the first recreational business licenses the state has awarded outside of existing medicinal cannabis businesses that were converted after the recreational sale of cannabis was legalized. The Franklin Township Unity Rd. is expected to open in the coming months.
“I was seeking next-generation business opportunities in hyper growth industries in which I had a passion,” Patel said, recognizing that the $28 billion U.S. cannabis market is on track to reach $46 billion by 2026. “I know how to run a retail business, but the cannabis space is layered with complexities. I needed a direct route to alleviate barriers to entry and set myself up for success, while confidently making decisions.”
While New Jersey’s Medicinal Cannabis Program has been live since 2012, legal recreational cannabis sales in the state launched on April 21, 2022, nearly totaling $1.9 million the first day. In the initial 10 weeks, the market quickly hit $80 million in legal sales and reached $4.6 million in tax revenue.
A Trusted Local Source for Recreational Cannabis
“With the Unity Rd. team guiding me at every step, I am able to yield their expertise to operate and grow my future dispensary, while keeping my attention focused on what matters most — providing my neighbors with a trusted local cannabis source they can rely on in the New Jersey community,” Patel said.
Patel joins three additional entrepreneurial groups that have signed agreements with Unity Rd. to develop dispensaries across New Jersey and are currently in various stages of development.
New Jersey Cannabis Business License Information
The Cannabis Regulatory Commission issues licenses for medicinal and recreational cannabis business operations in New Jersey. Each business must have an active license in order to perform any commercial cannabis activity, including:
- Growing cannabis plants
- Storing cannabis and cannabis products
- Making cannabis products
- Transporting or delivering cannabis and cannabis products
- Selling cannabis and cannabis products
- Testing cannabis and cannabis products
The Cannabis Regulatory Commission is currently accepting applications for recreational cannabis businesses in the following categories:
- Class 1 Cultivator Licenses
- Class 2 Manufacturer Licenses
- Class 5 Retailers
- Testing Laboratories
License applications will be accepted and reviewed on a rolling basis until indicated otherwise. Social Equity Businesses, Diversely-Owned Businesses, Impact Zone Businesses, and applications that receive bonus points will be afforded priority review, scoring, and approval. In order to apply for a cannabis license in New Jersey, click here.
Cannabis is a highly regulated industry with laws that differ from state-to-state and change regularly. These market conditions make it next-to-impossible for industry newcomers to enter, let alone operate a successful business. Companies like Unity Rd. are helping to break down these barriers, helping independent business owners bring the benefits of the growing industry to their hometown to strengthen their communities, invest in local programs, and build a legacy.