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 Dispensary for 7 months through July 2020 had Sales Revenue of $474K with expectations for 2020 annual figures to reach $900K. This tastefully designed dispensary has experienced consistently growing sales since opening in mid 2018. The business is a turn-key cash-flow positive retail dispensary in the growing MM market. Currently the business averages 55 patients a day with product lines including flowers, edibles, and concentrates.
This leased space is 1600 square feet on a corner near a major downtown freeway. The current landlord will negotiate a new lease for a qualified tenant. The location has a great floor plan, very functional, efficient, in great shape with ample parking. The business uses a state of the art security and camera system with excellent signage and branding throughout.The dispensary is located in the Central OKC area and features an 1,600 square foot strip center location.
The medical marijuana business is the fastest growing consumer segment in the U.S. This 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.
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 Owner has other business interests. The current owner is committed to helping the new owner with a smooth transition. The Seller will train for the new owner for 2 weeks at no cost and an additional 2 weeks of on-call support.
Will train for 2 weeks @ no cost A buyer must qualify for and receive a license through the Oklahoma Medical Marijuana Authority (OMMA). The State of Oklahoma requires a 2 year residency to receive a license.