This is a great opportunity to get into the booming Medical Marijuana business as the industry continues to expand exponentially in Oklahoma and nationally. This tastefully designed dispensary has experienced consistently growing sales since opening in August 2019. This well branded Dispensary is well known in the area and a respected business in the OKC greater area. This offering gives a new owner an established business that can cater to all aspects of the industry and able to integrate the operation into other faucets of the Medical Marijuana Industry. This unique opportunity in the fast paced medical marijuana industry opened in August 2019 and the dispensary operation is booming with total sales of $127,000 in the first four months of operations. The business is a turn-key cash-flow positive retail dispensary in the growing and compliance driven market. The business has the standard operating procedures, processes and policies necessary to meet the changing needs of the industry.
The dispensary is located within rock throwing distance of a major highway in south OKC area and features an 1,800 square foot strip center location with an opportunity to add additional square footage of unoccupied space. The location is leased and the property is not owned by the Seller and is not available through the Dispensary owner. The location has a great floor plan, very functional, efficient, in great shape and is up to all commercial codes with ample parking and expansion options. The dispensary space occupies a 10,000 square foot building which is situated on a 20,000 square foot lot. The business enjoys space for delivery with rear access and has a state of the art security and camera system throughout with a space that has excellent signage and branding.
The medical marijuana business is the fastest growing consumer segment in the U.S. The medical marijuana dispensary business is well-known and established in the industry and markets a wide selection of medical products from the largest brands in Oklahoma. The business enjoys a proven business model which includes operational systems, best practices, depth of resources and business relationships. The market conditions in this location are extremely favorable for Medical Marijuana in the state. This business has many long-standing customers and referral relationships. They maintain very high ratings in both Weedmaps and Google with very positive comments. The Growth potential for the industry according to IBISWorld: The Medical and Recreational Marijuana Stores industry is in the growth stage of its life cycle. Over the 10 years to 2024, its industry value added (IVA), which measures the industry’s contribution to the economy, is expected to grow at an annualized rate of 20.1%. This rate is markedly faster than the 2.1% projected growth for US GDP, indicating the industry will make up a larger share of the economy in the years ahead.
There is some competition but none as professionally operated as this dispensary. This Medical Dispensary facility features top and bottom lines growing rapidly. This medical marijuana dispensary business is well-known and established. For the industry IBISWorld forecasts that revenue will increase at an annualized rate of 13.8% to $25.9 billion over the five years to 2024. In particular, an increase in per capita disposable income is projected to drive demand for industry products. Medicinal products are essential for health and therefore less susceptible to fluctuations in consumer expenditure. Additionally, medical and recreational marijuana stores will likely further expand their offerings of edible marijuana products, which will likely be a major growth segment for industry operators moving forward.
The current Owners have other business interest within the medical marijuana industry; but not a dispensary. The owners will sign a non-compete clause regarding operating a dispensary. The current Owners are willing to train the new owner for 2 weeks at no cost and an 2 additional weeks of on-call support. The current license will transfer to a qualified buyer as smoothly as the law allows a long as the buyer completes all licensing requirements and follows all regulations to obtain their own license. The current Ownership is committed to train and educate the new owner for a smooth, seamless and successful transition.
Will train for 2 weeks @ no cost A buyer must qualify for and receive a license through the Oklahoma Medical Marijuana Authority (OMMA). The current Owners license will transfer to a qualified buyer as smoothly as the law allows. There will be no issues in the transition as long as the buyer completes all licensing requirements in a timely fashion and follows all regulations.