Massive Cannabis Retailer Chain For Sale San Diego, Riverside & Orange Counties #373

Popular Med., Rec., Turn Key 

 Dispensary Retail Storefront with Delivery / Posted 2 months ago

This is a massive opportunity for a unique, established retail-focused business that is on auto-pilot. The owner has two fully operational dispensaries in San Diego County along with pending retail applications across Riverside & Orange County. Total revenues for 2020 YTD are $34M+ with an EBITDA of $11.5M from just from the two stores alone, they also just started utilizing the deliveries representing a greater value that there is still room to grow the business. With this business the new owner could own and operate a total of 7 retail storefronts across San Diego, Riverside & Orange County, giving the new owner the position to have the largest retail footprint in Southern California. 

The shops usher customers in and provide them with an educational presentation of the latest cannabis products in order to understand which products are better suited for them. The management and sales team combine their extensive experience in the cannabis industry with strong capabilities in retail operations to not only assist the customers but to obtain a higher ticket number compared to competitors. 

Why is San Diego the most desired market in CA?

San Diego City currently has 24 retail dispensaries licensed with the city. Population per license is 140K for the city of San Diego. Los Angeles County has 190 dispensaries which is one license per 54k people. There are also 200 new licenses on the horizon for the County of Los Angeles.

San Diego is the second most populous city in California behind Los Angeles.

San Diego Market is protected by legislation favorable to license holders by providing protection from excessive competition.  

Business Opportunity Summary Overview 

San Diego County Shop #1 Details: 

  • Space: 5,300 SqFt (2,000 SqFt of additional space being built out which will increase 10 checkout stations cutting the wait time almost in half).
  • Rent: $13k/Month
  • Fixtures: $400,000
  • Inventory: $400,000
  • 2020 Gross YTD: $26M+ , Expected to finish the year $28.5M
  • Ebitda Between the 2 operating stores $11.5M 
  • DATABASE of 500,000+ customers

San Diego County Shop #2 Details: 

  • Space: 3,900 SqFt
  • Rent: $16,000/Month 
  • Fixtures: $400,000
  • Inventory: $200,000
  • 2020 Gross YTD: $5M+ , Expected to finish the year 5.6M
  • Ebitda Between the 2 operating stores $11.5M
  • DATABASE of 500,000+ customers 

Five Other Retail Dispensary Locations (Pre Revenue) + 3 Distribution Licenses + 22,000 Sq Ft Cultivation License + 3 Real Estate Properties Owned = Complete Vertical Integration

  • The Seller has in addition to the 5 pre revenue Retail dispensaries throughout Riverside and Orange County that are currently not opened up yet that will have the same PROVEN TRACK RECORD applied to these stores. Estimated Revenue between the 7 stores is expected to hit $80M with an EBITDA of $26.4M.
  • 3 of the 5 Pre Revenue locations the seller owns the real estate in these Highly Desired areas.
  • Amazing Opportunity to Monopolize the Southern California Market with State of the Art High Operations.

Capitalizing on the Upside of this Opportunity

  • The 2 SD County stores had a 20% increase from last year and are expected to increase another 20% next year without capitalizing on the upside listed below. 
  • 18-21 Medical Revenue currently not being captured.
  • Delivery has just started and has organically been built up to $10,000 – $12,000 a Day in deliveries with little to no marketing.
  • Currently not accepting debit cards which will increase the already high average ticket.
  • Leveraging the “ALREADY PROVEN TRACK RECORD” and incorporating their Brand into the 5 Retail Licenses and building this Empire to a 20+ Store operation by the end of 2022, with 9 Figure Annual Projections on a yearly basis.

Asking Price: TBD (Seller is open to offers with the Right Group) Must show Proof of Funds of $30M+

Must sign an NDA/Waiver and have proof of financials before any other detailed information is released. This listing is Fully Exclusive only by Green Life Business Group, Inc. 

Green Life Business Group, Inc DRE CA LIC# 02061374

Drew Mathews, DRE CA LIC# 02091143

If you have any questions call Drew (619) 653-0483

Or Email : sales@glbgroupinc.com

Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.  California’s Premier Cannabis Business Brokers.

 

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