Listing ID : 259431
Listed On May 24, 2021 85
Listing Updated May 24, 2021
This business is a community favorite medical & recreational cannabis dispensary located on a major arteria with a daily traffic count of approximately 32,000 cars. The resident population within 3 miles of the store exceeds 90,000 people. The community has an average age of 38 & household income of over $110,000 per year, a prime demographic for acceptance & incorporation of marijuana for medicinal & recreational purposes. Limited competition exists in the immediate area.
The company has experienced strong sales & profit growth in recent years seeing revenues grow almost 60% from 2019 to 2020. 2021 revenues are exceeding 2020 by over 30% through four months with average monthly sales exceeding $400,00 this year.
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 a wonderful reputation in the cannabis industry and local community.
The business is executively managed by an owner operator with prior experience owning and operating a medical marijuana dispensary before opening this business in 2016. 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 general manager, marketing & operations manager, and a nights & weekends supervisor. The management staff is supported by 10 – 15 full & part-time employees.
The business operates out of an approximately 2420 square foot space specifically built out for cannabis business operation. The company started a new five-year term for the lease in March 2021 at a rate of $14,000 per month. Two additional five-year extension terms exist for continued operation of the business. The property is available for purchase for $2,150,000 if desired.
The location is confidential at this time. Address provided is for M&A firm facilitating the sale.
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