One of Colorado’s largest marijuana businesses, the Denver-based Medicine Man recreational shop, is undergoing a $2.6 million expansion after securing $1.4 million in financing from the ArcView Investor Network.
Owned and operated by brothers Andy and Pete Williams, Medicine Man will build a retail space that is all white, “like an Apple Store.” Its current headquarters in Denver’s Montbello neighborhood has 65 video cameras and a $35,000 charcoal air filtration system which eliminates marijuana odors.
The Williams brothers secured their financing last fall during an ArcView meeting at the Denver Athletic Club. They received loans from seven different investors at an interest rate of 18%.
Medicine Man was one of the state’s first dispensaries to open for recreational customers on Jan. 1. That day, the store served 680 customers and took in $93,000 in revenue.