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Cannabis Retail - Seattle, WA

Seattle, WA

Seller Financing Available

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Asking Price:$3,750,000
Gross Revenue:$4,291,476
Rent:$15,845
Established Year:2017
Cash Flow:$553,580
Inventory:$199,716
EBITDA:$1,558,353
Listing ID: 2221864Listing provided by BizBuySell
BUSINESS DESCRIPTION

The business available for sale is a privately owned cannabis retail shop in Seattle, Washington. The store is licensed with the State of Washington, City of Seattle and is a medically endorsed dispensary. The award-winning staff serves their customers with exceptional knowledge of the products and top tier customer service. It offers one of the deepest and most competitively priced selections of clean, pesticide-free cannabis products in the Pacific Northwest. This store is well known throughout the state for having an exceptionally curated product selection. The brand has been built upon an honest and simple concept: people helping people. With its thoughtfully designed and comfortable space and its team of well trained and dedicated experts, this store is known for creating an elevated shopping experience that shows in its customer loyalty. The business is perfectly suited to a buyer that is interested in taking the model and expanding to other locations.
The business is being offered for $3,750,000. The store typically holds about 30 days of inventory, roughly $150,000 -$175,000 in wholesale value, on hand, which will be included in the sale. In addition, there is an ATM machine on the premises that is included with the sale.

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DETAILED INFORMATION
Location
Seattle, WA
Inventory
Included in asking price
Real Estate
Leased
Lease Expiration
01/03/2036
Employees
17
Facilities
The business lease their retail store. The original lease was signed in 2016 for a term of 5 years with three 5 year options. The lease is a NNN lease with a base rent scheduled annually with base rates increasing 3% annually. The first extension option was agreed to, starting March 1, 2021. The initial base rate of the extension is $14,500 per month, which increases by 3% annually on March 1 of each subsequent year. Base rent starting March 2024 will be $15,845.
Competition
There are several competitors in the Seattle market. The store is a Medically Endorsed store, meaning it is licensed to serve medical cannabis patients. There are three Certified Medical Consultants on staff. Many retail locations in the greater Seattle market are not Medically Endorsed. The business for sale is very competitive compared to the Seattle market. It has a broad product selection, excellent customer service and knowledgeable staff with little turnover of management and staff.
Growth & Expansion
This fully licensed business is an excellent opportunity for someone looking to get into the cannabis retail industry with few operational demands. It is also a great candidate for business already in the cannabis field looking to expand or gain the Medical Endorsement license.
Financing
The seller may be willing to provide seller financing depending on the offer and circ
Support & Training
The current owners have provided significant in-house training to the staff over the years. Training topics include operations, purchasing, general cannabis training, specific product knowledge, customers service and leadership. The managers have now taken over most of the trainings. This has made the staff highly knowledgeable about the products
Reason for Selling
To focus on other interests and family
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Matthew
Russell
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Matthew Russell
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