Gross Revenue: $3,500,000
* not included in asking price.
Medical Marijuana Dispensary and Cultivation
Fully Licensed Medical Marijuana Dispensary and Cultivation Operation
Owners and operators of a fully licensed, and Regulation D compliant, Medical Marijuana dispensary in Los Angeles, willing to sell in advance of a November ballot initiative permitting recreational marijuana use. New owners will be well positioned as one of the few LEGAL dispensaries to serve the needs of patients, and recreational users alike.
The dispensary is a Pre ICO, and Regulation D, Medical Marijuana Dispensary, in compliance with the following Codes and Ordinances; 1. LA City’s Interim Control Ordinance (ICO) 1790270) 2. LA City’s 2010 Medical Marijuana Ordinance (181069) 3. LA City’s 2011 Temporary Urgency Ordinance (181530) 4. Measure M 2011 or 2012 Registration regarding Taxation of Medical Marijuana 5. All State, City, and County, filings are current; 6. All taxes are current and paid in full; 7. The dispensary operates from a Prop D compliant location (Prop D: Section 22.214.171.124); This Medical Marijuana Dispensary is permitted to operate its own ‘in house’ grow operation. The growing space may be configured for cloning, vegetative, and flowering rooms. A grow operation may generate up to 4 harvests per year, in that there is always some phase of the growing season in progress. Location of the store provides discreet, unlimited, street parking for its customers. The landlord is aware of the nature of the business and is in full compliance and cooperation with the onsite dispensary, and grow operation. Upon sale of the business, the landlord is prepared to enter into a new 5 year lease with the new Managers. Purchase Price for the Management Company: $5,000,000 Employees and managers of the company want to buy in for 10% of the operation, for cash, at which point they are willing to continue to manage, and to operate, the business. These partners will have significant ‘skin in the game’ which is a plus for any new investors. Those employees who want to buy in are familiar with the current operations and what needs to be done to maximize the potential of the dispensary including; new and advanced text and marketing programs, improved buying methods, new product lines, new vendors with improved product lines, and generally making the business more efficient. Purchase Price: $5,000,000 Employee participation for 10% buy in: $ 500,000 Cash at close of escrow from new buyer: $4,500,000 Books and records will be available for review upon approval of Proof of Funds from prospective Buyers!
Inventory: Not included in asking price
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: The dispensary is fully furnished with all necessary equipment to run an efficient store. Furniture, Fixtures, & Equipment (FF&E) are included in sale price, including;
An operational POS System, Security Cameras, Display Cabinets, Sales Jars, Furniture, Fixtures, Misc. Appliances, Display Racks.
Security cameras and software are included in the sale. Computers, filing cabinets, and all administrative hard and software are present. Additionally decorations such as paintings, wall hangings, and posters, will be included with the dispensary.
Competition: There are only 80 licensed dispensaries remaining in Los Angeles.
The marijuana industry is fully developing into a mainstream sector of a new ‘Green Rush Economy’ which will include new products and services such as the development and production of concentrates, extracts, edibles, drinkables, crèmes, lotions, tinctures, balms, butters and oils.
The LA City Attorney, has already closed down over 500 illegal operations. At the end of the day, only those dispensaries that are in legal compliance, such as this one, will be left standing.
Growth & Expansion: Recreational marijuana is currently NOT legal in California, however if marijuana goes recreational, as is widely anticipated in November, 2016, sales of marijuana are predicted to soar dramatically as suggested by the data coming out of Colorado and other states that have passed recreational use laws.
The new laws will assure all LEGAL dispensary owners nearly unlimited possibilities for growth and expansion in the growing field of medical and recreational marijuana, and related by products.
Financing: Purchase Price $5000000 less $500k for employee buy in. Price 4500000
Support & Training: The current owners will train the new owners, at no cost, for a period of 2 weeks . Manager and employee shall retain a 10% interest in the dispensary , and are willing to pay 10% of the purchase price. the new owners will have the benefit of partners familiar with the operation, who have 'skin in the game'. The handover will be absolutely seamless.
Reason for Selling: the original owner/operator died and the family wants to sell the business.
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