Business Description
The Retail is 1 of the 8 licensed Retail facilities in West Hollywood and has phenomenal traffic counts and strong area demographics. One of the best LOCATIONS in all of Los Angeles County. It’s been operating successfully with little to no marketing and without implementing the Delivery License! In 2020 the business did $4.3M in gross revenues on pace to do the same for 2021! So much upside to this opportunity. This fully permitted and licensed retail license includes the ability and capability to deliver cannabis products directly to consumers throughout Los Angeles and Southern California markets via the delivery service.
In 2017, the West Hollywood City Council adopted a cannabis ordinance allowing a variety of cannabis businesses to be licensed in the City. The City of West Hollywood has undertaken a robust, merit-based selection process for cannabis applicants.During the month of May 2018, applicants were allowed to submit cannabis screening applications to the City. The City received over 300 screening applications from over 120 different applicants (most applicants submitted applications in multiple categories). Only the top 8 were selected and granted licenses and this is 1 of the 8!
Details:
Space: 2,925 SqFt
Rent: $21,500/Month
Lease Terms:
Assigned Parking Spaces: 10
Employees: 15
Point of Sale System: Green Bits
Wholesale Inventory: $150k
Avg Ticket order: $60/order
2020 Gross Revenues: $4.3M
2021 Gross Revenues On pace to do $4.3M
Licenses:
Retail Storefront- Facility where cannabis, cannabis products, or devices for the use of cannabis or medical cannabis products are offered, either individually or in any combination, for retail sale, including an establishment that delivers, pursuant to express authorization by local ordinance, medical cannabis and medical cannabis products as part of a retail sale.
Retailer Non-Storefront License- Sells and delivers cannabis goods to customers. A Retailer (Non-Storefront) must have a licensed premises, but it is not open to the public.
Asking Price: $6.9M (Seller Financing Available)
Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location.