The Owner, ASHE, has secured rights to 1 of 15 coveted lounge permits in West Hollywood through a highly competitive process. Recently the Permit received its Business Commission Approval which is a major milestone in West Hollywood cannabis permitting. With a renegotiated lease in place, the Owner now has a clear path towards achieving operational status. The Permit may be moved, and the business concept may be altered to meet a buyer’s, or partner’s, vision.
· Approved Permit Allows:
o Edible Lounge
o Smoking Lounge
o Onsite Sales
· Options For Operators & Investors:
o Investor: 40% Equity Upon Investment
o JV: 41-65% Equity Upon Purchase
o Operator: 85% Equity Upon Purchase
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· Strong 3-Mile Demographics
o Population: 312,000
o Strong Income: 50% over $100k/yr
o Educated Population: >80% college educated
o Youthful Population: 50% ages 20-50
· Entertainment Driven City
· Ability to Move and/or Amend Permit Approval
