Steve and Andrew DeAngelo of the world-renowned Harborside Health Center have announced that their plans for national expansion have been called off and the cannabis retailer will be solely focusing on furthering its operations in California.
The DeAngelo brothers said they have sold the company’s Portland franchise — which opened last October — ultimately breaking more or less even on their brief Oregon enterprise.
“For us, we’d never been able to get that shop up to break even,” Steve DeAngelo, CEO at Harborside, told Marijuana Business Daily‘s John Schroyer. “And there are a lot of shops in the Portland area in the same situation, that are just barely making money or not making money at all.”
Instead, the famed cannabis franchise is hoping to maximize its presence in the California marijuana marketplace. With California voters likely to consider legalizing cannabis for recreational purposes this November, the opportunities are growing rapidly more attractive.
“The range of opportunity and the competitive intensity in the California market is going to ramp up incredibly,” DeAngelo said. “It’s going to be like something nobody has ever seen. And we see that happening now.”
Read the full interview at Marijuana Business Daily.