Are you ready to break into the booming cannabis industry in West Hollywood? Look no further than our consumption lounge license opportunity! As a Smoking & Edible consumption lounge license holder, you would be able to provide a unique experience to your customers. With the ability to consume cannabis products on-site, you will be catering to a growing market of cannabis enthusiasts who are looking for a safe and welcoming environment to enjoy their favorite products. The current owner could offer guidance every step of the way, from navigating the application process to providing ongoing marketing and operational support. New owner must continue the construction and buildout process.
Details:
Space- Approximately 2,500 SqFt space in a two-story street retail building Situated on a high-traffic commercial street in prime West Hollywood with phenomenal traffic counts and strong area demographics.
Lease Agreement- $11,118.00/Month at 1YR Lease with 5YR Option
Cannabis Zoning Approval: Cannabis Zoning Approved for Location.
Modification to Proposed Location: Allowed if Approved by City of West Hollywood
New Owner would have to continue the build out and licensing process
Seller could assist with engaging with local artists to create interactive art installations in store.
Why West Hollywood is going to be the Mecca of Consumption Lounges in the US!
– Limited Licensed Market: With a limited number of consumption lounge licenses available, the market is not oversaturated, allowing for increased demand and potential revenue.
– High Foot Traffic: West Hollywood is a popular tourist destination and entertainment hub, attracting a large number of visitors. This, combined with local residents, creates a high foot traffic environment, increasing the potential customer base for a consumption lounge.
– Growing Industry: The cannabis industry is rapidly growing and shows no signs of slowing down. As more states legalize cannabis for recreational use, the demand for consumption lounges will continue to increase, providing a long-term opportunity for financial success.
– Premium Pricing: As a unique and exclusive experience, consumption lounges can charge premium prices for their products and services, increasing revenue potential.
– Branding Opportunities: With the ability to create a unique and memorable experience, consumption lounges have the potential to create a strong brand identity, increasing customer loyalty and repeat business.
License:
In 2017, West Hollywood (WeHo) City Council adopted an ordinance allowing a social lounge for smoking and vaping cannabis products along with and edible consumption.
Asking Price: $1,500,000.00
Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location. This listing is Fully Exclusive only by Green Life Business Group, Inc.
Green Life Business Group, Inc DRE CA LIC# 02061374
Eric Espinoza, DRE LIC CA #02077927
If you have any questions call Eric (858) 245-6324
Email: eespinoza@glbgroupinc.com
Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.