This is an opportunity to own a profitable, destination retail cannabis chain with excellent systems, infrastructure, staff, and tenant improved locations addressing all variables in this emerging, evolving industry presently owned and operated by experienced, successful, multiple industry entrepreneurs. The business runs multiple successful, mature retail locations allowing a buyer to either build on an established footprint to reach the five retail license limit presently in place in Washington or enter the market with an established brand and a platform for expansion.
The opportunity includes a sister company that sells marijuana culture and utilization products. This company wholesales paraphernalia to the cannabis retail locations and operates a stand-along retail shop featuring a more extensive offering of paraphernalia – pipes, bongs, dab rigs, vaporizers – and federally legal hemp-derived CBD products. Hemp-derived products are often the first purchase for cannabis-hesitate consumers because of the lack of psycho-active effects. This company does not operate under a state cannabis license and therefore does not have the strict advertising restrictions of that industry. Knowledgeable, cannabis industry entrepreneurs recognize the marketing and tax advantages of operation of a separate, affiliated business in this industry.
This exceptionally well managed retail cannabis chain provides a full range of cannabis products from flower, concentrates, cartridges, edibles, pre-rolled joint, vaporizers, topicals to locally-made and imported pipes, bongs, and dab rigs. The shops feature the most popular brands in every commodity group.
In addition to strong product lines, the company has a reputation of providing superb customer service. When customers visit one of the locations, they are greeted by friendly staff and experience a unique concierge level customer service offering superior product knowledge tailored to the needs of a cannabis connoisseur or the first-time.
The shops are exceptionally merchandised for product presentation and selection with all budtenders prepared to provide a special 1:1 customer experience unlike any other in the area. Each shop maintains humidity and temperature-controlled display cases with a carefully selected and tracked product list designed to enhance shelf space allocation to best sellers and move slow moving items out of inventory to be replaced by new products with enhanced revenue generating potential.
The owners have set up the future buyer for success with seamless processes, clear and effective marketing, and fully compliant operations under the regulation of the Washington’s Liquor and Cannabis Board. This is a turnkey operation that is projected to grow organically for many years.
The cannabis industry grew 21% from 2019 to 2021 generating $21 billion of revenue per year with expected global market growth to $146 billion by end of 2025. In Washington, cannabis sales reached $9 billion in 2021 and revenues are expected to reach eleven digits in the state on the short-term horizon. This business was within 10% of $20 million in retail revenues in 2021 and experienced an annual growth rate of 17.43% over 2020 sales.
Seth Rudin, the lead broker in IBA’s cannabis industry transaction division, can be contacted directly about this company at (425) 454-3052 or firstname.lastname@example.org.