PlantX Enters Arrangement To Develop Franchised Brick And Mortar Locations
PlantX Life (CSE: VEGA) this morning announced that it has entered into an arrangement with Iris Construction Management. The arrangement will see Iris design and build the firms flagship brick and mortar location, to be known as Liv Marketplace, in San Diego. The design will then be utilized across future franchises throughout North America.
In addition to design and build, the partnership arrangement will see Iris assist PlantX is developing a turnkey solution for potential franchise locations. The design is to be able to seamlessly add further features to other locations, such as a cafe, shop, or other planned features, in addition to a plant-based education centre.
The new brick and mortar locations will enable further opportunities for expansion for PlantX through brick and mortar. These locations are expected to offer all products that can also be purchased online from the one-stop-shop plant based retailer, while also featuring a coffee shop and restaurant with plant-based meals created by the firms LA-based chef, Gregg Drusinsky.
“Our concept will allow business owners who have cafes, stores, etc. to join a multi-billion dollar industry pretty much overnight. We invite anyone who is interested in starting a franchise to join the movement. Even if people have 500 sq ft of temp space, we have a model that works for them.”
Sean Dollinger, Founder of PlantX
Iris Construction Management is viewed as being a complete in-house provider of construction related services, including design, planning, budgeting, tendering selection, money management and quality control. The company has delivered upon projects up to 120,000 square feet in size with budgets of up to $1.6 billion.
PlantX Life last traded at $1.80 on the CSE.
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