ATHOL, Mass., Oct. 12, 2021 (GLOBE NEWSWIRE) — On Oct. 15, 2021, Elev8 Cannabis celebrates its first anniversary, among many other milestones and achievements. Having opened its doors at the height of the pandemic, the Athol, Massachusetts, location is a testament and model for how social equity programs could help provide opportunities in the nation’s fastest-growing industry. With only $50,000 in startup capital, a fraction of what big corporations and funds are spending to enter this space, CEO Seun Adedeji bet on himself to not only bring his stores to life but to provide a blueprint for those that wish to do the same.
“While 2020 was an incredibly challenging year for most, we are grateful for the support that we’ve received from the community in our first year. Our success this year means so much to us and, with that, we have every intention to double our efforts to mentor and help others build their legacy within this industry,” says Adedeji.
The Athol location is the second of two Elev8 Cannabis dispensaries in operation right now, with licenses secured for two more locations set to open within the coming months. Adedeji was able to secure his own funding to open his locations, which was only half the battle. With limited capital, Adedeji slept in his Eugene, Oregon, dispensary during the early months of owning his first dispensary before moving to Massachusetts to open a second location in a less saturated market. It is important to note that the licenses obtained to open his store and future stores in Massachusetts were not part of the Massachusetts Social Equity Program (SEP) that is tasked with providing opportunity to entrepreneurs with prior non-violent convictions or without the capital. To date, Elev8 Cannabis is projected to generate over $12 million in revenue with the opening of the