WASHINGTON MARKET INFORMATION

Your Washington Mergers and Acquisitions A- Team. 

Cannabis and Washington

There are a lot of things to learn about the Cannabis Industry before purchasing a license in Washington State.

A few things to help  maximize your success-

GENERAL STATISTICS FOR WASHINGTON STATE CANNABIS INDUSTRY:

  • 370 Retail Marijuana Stores in Washington State*
  • 790 Producer/Processors in Washington State*
  • Retail Store Average Sale Price in Seattle:  $2,300,000.00*
  • Retail Store Average Sale Price in Suburbs:  $1,300,000.00*
  • Retail Store Average Gross:  $150,000-$215,000.00/month *
  • Average 1g Flower Retail Price with Taxes:  $10*
  • Average 1g Flower Wholesale Price with Taxes:  $3.75*
  • Average 10 mg Edible Retail Price with Taxes:  $5.00*
  • Average 10 mg Edible Wholesale Price with Taxes:  $1.45*
  • *Count as of January, 2017

TIPS:

Purchasing Retail licenses sold without an accompanying address is A BAD IDEA.  Due to zoning issues and allotment issues, it is VERY hard to find a Retail location that can house a Cannabis business in Washington State.  If you CAN find a location, you have a slew of County, State, City, and Zoning issues, as well as having to deal with landlords that know how valuable their location is to you (there are so few and so many people like you competing for the spot).

Purchasing a Priority 1 license is NOT the same as purchasing an original Lottery license.  An original lottery license can move locations to anywhere in the State.  A priority 1 license must stay in the County it opens in.

Washington State Residency Requirements:  Washington requires Marijuana licenses to be held by a Washington State Corporation with at least one person of interest being a Washington State Resident for more than 12 months.

Finances:  All finances will undergo an audit as stringent as an immigration audit.  You must be able to prove legal income for all business transactions associated with a potential license Assumption and Retailing Operations.

Ownership Limitations:  No person shall be a person of interest in more than three licenses.  No No license owner can have both an interest in a Retail license and an interest in a Producer Processor License.

280E (IRS):  No business transacting a Federally illegal product will be able to take deductions from their profits of such transacted products.  Please hire an accountant that specializes in Cannabis industry businesses to save you a lot of time and money.

Resources:

Regulatory Agency:  The Washington State Liquor and Cannabis Board

www.lcb.wa.gov

Statistics from Washington State Marijuana License Holders Including Income

www.502data.com

All Cannabis Organizations united together; updates, seminars, news, legislative efforts, etc.

www.thecannabisalliance.com

Marijuana News:  Washington Local, Federal and World

www.mjnewsnetwork.com