This business is a community favorite medical & recreational cannabis dispensary located on a major arterial with a daily traffic count of approximately 32,000 vehicles. The resident population within three miles of the store exceeds 90,000 people. The community has an average age of 38 and household income of slightly over $110,000 per year, a prime demographic for acceptance and incorporation of marijuana for medicinal and recreational purposes.
A full spectrum cannabis retail business, customer demand exists for flower, prerolls/blunts, concentrates, edibles, and topical creams. Direct engagement with customers occurs through a newsletter with a circulation group of approximately 10,000, participation in the company’s loyalty program, and involvement in community events.
The business is executively managed by an owner operator who previously owned a medical marijuana dispensary. A knowledgeable, experienced cannabis entrepreneur, the business has been set up to employ best practices, offer high quality products, and provide superior customer service. Management leadership is provided for daily operations by a three person middle management team. The management staff is supported by 10 – 15 full & part-time employees.
The business operates out of a 2000+ square foot space specifically built out for cannabis business operation. The first five-year term if the present lease expires on February 28, 2021. Three additional five-year extension terms exist for continued operation of the business. There is limited opportunity to open cannabis retail stores in the immediate area due to zoning and retail space availability.