An Interview with Bud’s Place Founders
I met with Bud’s Place franchise founders Mark Cohen and Ron Silberstein in the beginning of July 2020. The pandemic was in full swing when we met and, in Michigan, restaurants were just starting to let people eat inside. It was a warm day and outside seating was full. We went inside and did our best to have a socially distanced meeting. In full disclosure, Mark, Ron, and I graduated from high school together, as did another of their partners, Gary Stein. Overall, I walked away pretty impressed with their solid planning. I know these guys and they are bright businessmen personally invested in opening up the first cannabis consumption lounge franchise. If you are interested in chatting with them, remember to tell them you read about this amazing opportunity in Canniseur. (And, no we are not getting a commission.)
AnnaLee: What is Bud’s Place?
A Social Cannabis Consumption Lounge Franchise Opportunity.
Bud’s Place™ provides a legal, safe, and enjoyable upscale atmosphere. You bring your own cannabis to Bud’s Place (there’s no dispensing). We offer a combination of food and beverages, great line of accessories for sale, entertainment, and more in a clean, safe and relaxing facility. Customers enjoy their own cannabis with their friends.
The Bud’s Place concept is ‘Churchill meets Dave and Busters’. Lounges will be about 6,000 sf, serving bar food, with entertainment like games.
AnnaLee: Why would anyone want to invest in a franchise and not just start their own consumption lounge?
We bring solid plans to the table. Each of our partners brings specific expertise to your opportunity.
Mark Cohen (founder) has decades of marketing and real estate experience.
Ron Silberstein (founder) brings decade of franchise CPA/financial expertise.
Dr Gary Stein brings his cannabis public policy and activism experience.
Crave Hot Dogs and BBQ is their 4th business partner and brings decades of corporate food distribution and training experience.
Together our experience allows us to put together a well thought out opportunity. Our franchise package opportunity is incredibly unique because you would be getting in at the start of cannabis legalization.
We’ve been working and planning Bud’s Place concept for almost a decade. You would have all the expertise backing your investment at the start. This is a huge jump-start and would you save years of planning, from real estate selection, to setting up distribution partnerships, and understand and dealing with government red tape.
Your investment provides for all the expertise you need to set up a thriving business in an exciting new business. You’ll receive training.
AnnaLee: What’s your differentiator?
When I asked this question, Ron and Mark just looked at each other for a brief second. The turned to me and said, almost in unison, ‘we are the only ones doing this’. Fair enough. Getting in early is key to long term success, they said. They also said the ROI is phenomenal. Much better than any other kind of franchise opportunity. They stated this is because the profit margins are above what a typical lounge might be.
AnnaLee: Where do you see Bud’s Place in 5 years?
In 5 years we will have between 15 and 50 locations. Two of these will be flagship corporate lounges. We will be the pre-eminent leaders in consumption lounges. Our corporate value will be between $100 and $200 M.
AnnaLee: What does it take to buy into a franchise?
For $1.25 M you’ll be a leader, in the forefront, a pioneer. This is not for the faint of heart, but the financial rewards are great. Within 10 years, when cannabis is legal, we’ll add in dispensary partnerships, and your investment will become even more valuable.
If you are interested, contact Mark or Ron at firstname.lastname@example.org