Location: Morris, New Jersey
Industry: Retail
Listing ID: RETL474
Two years young, New Jersey State licensed retail cannabis company located in Northern New Jersey with gross sales of $2,045,579 and a net yearly income of $634,772. This Cannabis retail company is a new frontier and an innovative way for New Jersey residents to receive quality cannabis they both seek & deserve. They are utilizing innovative technology with regards to customer service and high-quality products. The company’s goal is to supply their customers with available purchases with a unique and memorable experience. Customer service and quality products go together as they start to build their brand and company value. They also offer vape cartridges which are one of the fastest growing product categories among cannabis consumers. Viewed by some as the future of cannabis consumption, these modern devices offer consumers a range of benefits in a compact package. Cannabis vape cartridge is a small, pre-filled unit containing extracted cannabis oil for vaporization. Products in this category may vary in style and branding, but they typically follow a standard design formula. In each transaction, dispensaries are allowed to sell up to the equivalent of 28.35 grams or one ounce of usable cannabis. Legally allowable product categories include dried flower, concentrated oils, resin, vape formulas, tinctures, topicals, syringes, lozenges, and soft chews, but availability will vary by dispensary. This is a dependable safe business opportunity and based on the asking price, and yearly net income, this business expects to supply a consistent return on investment to the owner operator.
Listing Details
Revenue: $2,045,579
Cash Flow: $635,772
Accounts Receivable: $5,000 (Included in Price)
FFE: $445,000 (Included in Price)
Inventory: $5,000 (Included in Price)
Form of Ownership:
C Corp
Reason For Sale:
The purpose of this business transaction is due to the owner absentee ownership and noncompetitive alternative company.
Training & Support:
Training and owner support, the owner is fully prepared to remain post-closing and will supply an appropriate transitional period to purchaser.
Operation
Year Established: 2022
Days & Hours of Operation: Days Hours of operation; this business is active seven days per week, with hours from 9:00 am to 7:00 pm.
Owner Hours Per Week: Part time
Non-Owner Payroll: $16,000
Employees: Regarding employees and payroll, this retail company consists of eight full and part-time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, and weekly base salary, and the staff is fully expected to remain post-closing, the monthly payroll expense is approximately $16,000 which includes the manager.
Managers: Yes
Absentee Owner?: Yes
Location
Security on Lease: Two Months
Lease Option: Yes Available
Monthly Rent: 5000
Type of Location: Commercial
Square Footage: 2,374
Relocatable?: Yes
Facilities Information:
This business opportunity is in north central New Jersey, Morris County on a highly active county road. This business facility consists of approximately 2,374 square feet with a modern, attractive, and professional appearance. The business is in a free-standing retail facility conveniently location for its various customers.
Summary
Historical Summary:
This is a two-year-young full-service Cannabis retail company.
Owner Qualifications:
For Qualifications purposes; this business opportunity requires transfer and approval of the New Jersey State issued cannabis license to purchase or operate in addition to the standard required municipal licenses.
Competition:
Regarding competition, to the best of our knowledge, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Potential Growth:
Regarding growth and expansion, the retail company can be further developed by improving the marketing and local advertising. Additionally, the company has a limited non-optimized web site and if adjusted can further develop the business yearly gross sales.
Financing/Terms:
Also, seller financing is available to a qualified buyer with an appropriate down payment, collateral, and credit rating.
