CANNABIS BUSINESS BROKERS
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Cannabis Business Brokers is now offering Retail Cannabis locations for sale in states where medical and recreational cannabis use is now legal. We are pleased to offer a wide range of cannabis businesses for sale. Cannabis Business Brokers has 39 years of Business Brokerage experience and are vetted and educated in Retail Cannabis procedure, guidelines, and rules. We know the already approved areas for each county. CBB has been training for the past 3 years in cannabis protocols, rules & procedures in each state that cannabis is legal in. We estimate Massachusetts will have locations available for sale within 1 year compared with California, Arizona, and Colorado's growth, timeline in cannabis retail. Meanwhile, for those who want to open a new retail location in Massachusetts rather then purchasing an existing one, this is our specialty. We are building an approved geographic locations list by local town officials of each city and county. This list grows daily. Whether a cannabis business operator is pursuing an acquisition or an exit, it’s important to understand the standard approaches investors take when evaluating such opportunities.
The Retail businesses we offer are in Massachusetts, Maine California, Colorado, Rhode Island, and Arizona. There's a great deal of money to be earned in this industry with retail shops selling edibles, oils, infused drinks / food and flower. It's like the gold rush of Nome Alaska all over again but with Cannabis. Store fronts are popping up everywhere in Massachusetts since recreational use was legalized. A Papa Gino's location in Framingham was converted to a dispensary. A prior Tavern in Lynn MA. was also being converted to a dispensary.
We have access to closed restaurants and eatery's which make perfect cannabis dispensary locations. The CCC (Cannabis Control Commission) in Massachusetts has training workshops available for any retail operator wanting to learn procedure, rules, health facts etc. for opening and running a retail cannabis entity. They answer the phone and are extremely kind and helpful. You will not see our complete list of available store fronts here, as some owners do not want their business on the internet. Last but not least we are a member of www.thecannabisindustry.org and are networked with thousands of entities in the Medical and Recreational sale of cannabis.
ISO 17025 Turn-Key Accredited Cannabis Laboratory's for sale
Med/Rec Dispensary, Cultivation, & MIPs Lab Investment Opportunity's
DELIVERY SERVICES
We can list your Cannabis Delivery Service / License for sale. Cannabis Business Brokers offers a vast database of active qualified buyers looking for your business. With 39 years of Business Brokerage under our belts you can be assured that you're joined at the hip with professional, expert, and knowledgeable brokers who attend all of the Expos, Seminars, and have the experience to bring your dream to frutation. An experienced business broker is essential to ensure all offerings are legitimate and within the law, and also that buyers are vetted and qualified.
GROW OPERATIONS
Don't go it alone. A Cannabis Business Broker has the buyers who are qualified,vetted, and want to purchase your business. Buyers spending large amounts of money on the most important thing in their life prefer using a broker as when buying a home, another huge important investment. Transactions as large and important as Grow Operations, Retail Dispensary's and Delivery Services require experienced professionals to handle the extremely large transactions and to ensure compliance with local and state rules.
RETAIL DISPENSARY'S
Retail Dispensary's can cost as much as $15 Million Dollars! Are you really considering going it alone on a purchase that large? You will need a good attorney and a better broker. Brokers charge a commission where as attorneys bill by the hour. The broker does a ton of leg work, during the purchase process for the buyer. We earn every cent of our commission as we go above and beyond the call of duty. We have established and partnered with affiliate brokers in states that we sell Cannabis Businesses in.
Nov. 14th 2024 US cannabis companies have endured a significant selloff in the days following the results of the election, seeing $2.6bn wiped off their collective market capitalization.
The selloff comes as a swathe of leading companies publish their quarterly results, with a number of companies reporting financial misses, which could exacerbate the situation.
According to Viridian Capital Advisors, the market cap of the 31 public cannabis companies it tracks plummeted after November 06.
As reported last week, this is primarily due to the failure of Florida’s adult-use cannabis bill, which Viridian suggests has significantly diminished the industry’s growth prospects.
This markdown might not have been entirely overblown. Assuming a fully rolled-out adult-use program in Florida would have doubled the state’s projected $2.1 billion medical sales in 2024, the lost sales would translate to a $630 million EBITDA loss.
FRONT PAGE NEWS
NYC shuts down nearly 800 illegal cannabis shops in 3 months. Here's an update on the crackdown.
9-1-24 NEW YORK -- New York City has shuttered nearly 800 illegal cannabis shops over the past three months, officials announced Wednesday. Mayor Eric Adams said Operation Padlock to Protect shut down 779 businesses across the five boroughs, issuing $65,671,487 in fines and seizing $41,443,792 worth of products.
NYC shuts down nearly 800 illegal cannabis shops in 3 months
"For too long, illegal shops have contributed to a feeling that anything goes on our streets, while targeting our most vulnerable -- including children -- with dangerous, counterfeit products marketed as candy," Adams said in a statement. "But today, we are celebrating that this is no longer being tolerated and we are making huge gains to protect communities and usher in a legal cannabis market that will thrive."
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Gov. Kathy Hochul added more than 1,000 illegal shops have been closed statewide, including six earlier this month in New Rochelle.
"These criminals are very clever. We were playing Whac-a-Mole. We were playing that for a long time. They thought they were winning. Guess what? They lost," Hochul said.
Who knew?
October 1st 2024
Year over year, global cannabis revenues exceed expectations and now stand at an estimated $50 billion in global sales in 2023. If you add in the illicit market, the number could be more like $344 billion, and this does not even take into account new demographics that will open as legalization increases, as it’s already the most-used drug worldwide while still being illegal in most countries.
2024 is shaping up to be a year of potential big wins for cannabis from legislative, valuative, and popular opinion viewpoints
Cannabis businesses are surrendering licenses at an increased pace in Mass.
October 20th 2024
The rate at which cannabis businesses are surrendering licenses has picked up rapidly in the past year as the industry faces economic and regulatory headwinds.
Since last September, four retail licenses have been either surrendered, not renewed or revoked. In the entire five years since the legal cannabis industry sparked up in Massachusetts prior to September 2023, just five licenses had been surrendered by local businesses.
On the non-retail side — which includes manufacturers and growers — 26 non-retail licenses have been surrendered, revoked or not renewed over the past year. Over the previous five years, only 11 such licenses were surrendered.
The loss or surrendering of a license doesn’t necessarily mean a business has closed. Some businesses hold multiple licenses and multiple types. The Cannabis Control Commission also pointed out that the rate of approvals has also increased by 22% over last year.
Competition is stiffer now, with more businesses open across Massachusetts and in five neighboring states, and prices have cratered since the industry first began. The cost of cannabis flower is at an all-time low, dating back to early 2018, at $5.06 per gram.
CommCan Inc., which surrendered two non-retail licenses in March gave up a cultivator license and a product-manufacturer license. One of its founders and owners, Ellen Rosenfeld, said the measure was intended to save money.
The surrendered licenses cost the business tens of thousands of dollars in commission fees, she said, in addition to licensing employees for work in both medical and adult cultivation and production. She and the other owners became aware they could consolidate work under a single medical license and save over $30,000 a year on fees.
“We learned after spending a million for five years, that you can do it all under the medical license. Do you think that the CCC told us that? No,” Rosenfeld said.
A 'chase to the bottom'
Some business owners in the cannabis space have expressed recent frustration with the commission and its leadership challenges as being harmful to business, though long-awaited changes to some regulations are poised to become reality this month.
The CCC attributes the turning in of licenses to the maturing of the cannabis industry in Massachusetts, and said the industry continues to grow despite economic pressures. According to the commission, there are over 700 cannabis businesses in the state that have received licensing approval as of October 2024.
Rosenfeld said her CommCan business is in good shape because she and her two co-owners, who are her brothers, own all their assets and don't owe anyone any money. CommCan has a wholesale operation, she said, and through that business she said she sees first-hand how other businesses are struggling, which she attributes to overcrowding in the market.
“You've got one open on your left, one open on your right, you're not going to make it,” Rosenfeld said. “They’re chasing each other to the bottom.”
She said she has six claims out against businesses that have purchased wholesale product but haven’t paid their bills because, she believes, they don’t have the liquidity to do so.
“It’s unfortunate because you sink every penny into it,” she said, adding that she doesn't believe the industry has seen a natural bottoming of closures yet. In the meantime, she said, she will continue to weather the reduced prices and decreases in sales until the competition is where it should be.
“When it shakes out, I hope that it will be a maturing market that respects itself,” Rosenfeld said.
Here's a list of the licenses surrendered since the Business Journal’s reporting last year:
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Shine Delivery LLC in Plainville gave up a courier license in September 2023
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Heka Inc. Inc Westfield gave up a product manufacturer license and cultivator license in October 2023
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Justin Credible Cultivation LLC in Cummington gave up a cultivator license in November 2023
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Good Chemistry of Massachusetts Inc. in Bellingham gave up a product manufacturer license in November 2023
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Just Healthy LLC in Northampton gave up a retail license in December 2023
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Mission MA Inc. in Worcester gave up a product manufacturer license in December 2023
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Clover craft LLC in Easthampton gave up a delivery operator license in January 2024
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Community Growth Partners Delivery Inc. in Northampton gave up a delivery operator license in January 2024
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Herbology Group Inc. in Easthampton gave up a retail license in January 2024
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MJ's Market in Grafton gave up a retail license in January 2024
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Garden Remedies Inc. in Fitchburg gave up a product manufacturer license in and cultivator license in January 2024
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Blackstone Valley Naturals LLC in Uxbridge gave up a microbusiness license in February 2024
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Harmony of MA Inc. in West Boylston gave up a retail license in February 2024
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CommCan Inc. in Medway gave up a product manufacturer license and cultivator license in March 2024
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I & I Rose Garden LLC in Boston gave up a product manufacturer license in April 2024
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Healing Calyx LLC in Holyoke gave up a courier license in April 2024
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Nature's Remedy of Massachusetts Inc. in Rowley gave up a retail license in June 2024
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CDX Analytics LLC in Salem gave up a independent testing laboratory license in June 2024
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Life Essence Inc. in Northampton gave up a retail license in June 2024
Eastern bank ‘excited’ to take over Century Bank’s cannabis business
Eastern Bank plans to continue Century Bank’s marijuana-banking business once it acquires its competitor later this year, Eastern's chief executive said Thursday.
Century (Nasdaq: CNBKA) was the first Massachusetts bank to accept deposits from marijuana-linked businesses and, despite the growth of the state’s cannabis sector, remains one of only a handful willing to do so today. Even though recreational and medical marijuana use is legal in Massachusetts, it remains illegal at the federal level, creating complications and uncertainty in a banking industry that is known for its aversion to risk.
Eastern is one of the many local lenders that has not banked cannabis businesses, according to executives. On an investor call about the proposed $642 million acquisition, Eastern CEO Bob Rivers addressed the issue head on: “Certainly one of the things that you probably know about this franchise is they’re the largest marijuana banking enterprise here in Massachusetts. That’s something that I believe only three other banks in the market have done. It’s something that we haven’t done in the past, but one that we’re excited to learn,” he said.
Century’s marijuana banking was a major focus of Eastern’s due diligence ahead of the merger agreement, Rivers and Century CEO Barry Sloane said in interviews Thursday.
Prior to the acquisition, Eastern had considered whether to enter cannabis itself, but its leaders weren’t sure it was worthwhile to build up the necessary financial and legal infrastructure, according to Rivers. During merger talks, one thing brought him comfort about the prospect of banking marijuana firms, he said: Sloane’s own comfort with the sector.
“Barry's a really conservative guy,” Rivers said. “He doesn't venture into this business because he's a champion of marijuana, per se. He ventured into it because he thought it was good business. He saw an opportunity. He, being so detail-oriented, understands it up, down and sideways. ... We always would say, ‘Well, if anyone's figured this thing out, it's Barry.’”
'Good customers of ours'
For years, Century executives were unwilling to publicly discuss their marijuana operations. The bank started in the mid-2010s by providing deposit and checking services to medical marijuana operators for a hefty fee, though it has since expanded to recreational cannabis businesses. It did not initially lend to firms that directly handle cannabis, since a loan poses longer-term risks than something like deposit services, but it has since done a limited amount of real estate lending to such businesses, according to Sloane.
Had Century been acquired by a bank uninterested in entering the cannabis market, it would have left the state’s marijuana sector with even fewer options than it already has. Other than Century, the only Massachusetts-based financial institutions known to be in the business are Northern Bank & Trust, GFA Federal Credit Union and BayCoast Bank.
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“Bob was welcoming to it. I’m happy to hear that because these are good customers of ours. We want them to be well taken care of,” Sloane said.
Northern’s involvement with the cannabis industry has not been previously reported. It appears to be the second-largest financial institution in the state to enter the space, behind Century. A request for comment to the Woburn-based lender’s executives was not immediately returned. It recently posted a job for a deposit relationship manager for cannabis clients.
Cannabis Control Commission Chairman Steven Hoffman said the addition of Eastern into the cannabis industry would bring even more capacity in addition to the other banks serving cannabis clients and three additional banks he said are undergoing the due diligence to enter the market.
"Any bank servicing the cannabis business is taking some risk, given federal law," Hoffman said. "I'm grateful for those who have stepped up because they've made an incredible contribution to public safety."
A critical role
While Century’s name will soon disappear off bank branches, it will leave a legacy in the state’s marijuana sector. Without Century's initial foray into the cannabis space, there would be no cannabis industry in the state, said Jim Smith, an attorney with Smith, Costello & Crawford who does work with dozens of cannabis clients.
"Century’s role was critical and can never be understated," he said. "There was no banking here. The nearest thing we had to banking was one Colorado credit union willing to talk to people. But there was no banking here without Century. Their role was critical."
Smith remembered even walking with a client to different banks at the corner of State Street and Congress Street in Boston. Bank of America, Citizens Bank, Salem Five and Santander Bank all kicked the client out as soon as they mentioned they were a dispensary, Smith said. Yet Century was willing to talk.
The expansion of banking under the auspices of Eastern is promising news for the industry as well, as it may encourage more entrants in the space. However, true reform won't come until Congress passes a bill to allow banks to work with cannabis companies unencumbered, according to Smith.
"This is a positive step Eastern is taking, but we have a long way to go," he said.
“If You Feel Different, You Drive Different.” just don't do it!
What to do where to go!
A tool to help you find dispensary's
1. Find Nearby Dispensaries with PotGuide
2. Featured Event - Cannabis For Mental Health
3. Minnesota - Now Live on PotGuide
4. Strain of the Week: Starfruit
As We predicted, dispensary's are in trouble everywhere, too many dispensary's , high TAX, has refueled the illegal, small amounts of cannabis delivery and sales.
Dispensary's are on every corner. The build-outs cost millions, operators cannot even get their build-out costs back. There're 7 dispensary's within 3 miles of my home.
Call us today for your free evaluation, and or appraisal of your operation. The downward spiral has begun. Don't get caught in the collapse or you're doomed.
We see many dispensary's with their parking lots empty all day with no business to speak of. A big difference from the mile long lines back when there were only a couple of dispensary's.
With $10,000.00 licensing fees, the illegal delivery business is booming, especially when its legal to carry on your person, 1 ounce of flower. This downward spiral already hit California 2 years ago, as they have been legal a lot longer. The same thing is going to happen in Mass. To many rules, regulations, and retail outlets, it's insane.
But for the small guy buzzing around all day in his corolla delivering 1/8's or 1/4's life is good! The illegal delivery businesses are killing the retail outlets...
Call 617-721-9655 for your free appraisal and evaluation.
Cannabis company Trulieve expected to close all Mass. dispensaries.
Dispensaries in Framingham, Northampton, and Worcester are set to close in June, and all Massachusetts operations are scheduled to stop at the end of the year.
Cannabis company Trulieve is closing all of its Massachusetts locations at the end of the month, and plans to cease operations entirely in the state by the end of the year, according to a company announcement released Thursday.
Trulieve Cannabis Corp. will shutter its Framingham, Northampton, and Worcester dispensaries, as well as an outpost in Grover Beach, California, the company announced. It will also close its manufacturing site in Holyoke.
The company has locations in nine states, and closed additional California-based stores last year.
Despite these closures, CEO Kim Rivers said in the release that she felt confident in the direction of the company.
“These difficult but necessary measures are part of ongoing efforts to bolster business resilience and our commitment to cash preservation as we continue to focus on our business strategy of going deep in our core markets and jettisoning non-contributive assets,” she said.
Trulieve previously had to pay $14,502 in OSHA fines for a violation at the Holyoke cultivation site that resulted in a worker’s death in 2022. Lorna McMurrey, 27, died from asthma complications following cannabis dust inhalation while working at the plant.
The initial fine was $35,219 before a settlement was reached for the lower amount.
Closures this year are set to affect 128 employees,
Cannabis Customers Can Now Buy Marijuana From Vending Machines In Colorado
Coloradans who are concerned about the coronavirus pandemic can now purchase marijuana through a contactless weed vending machine at certain dispensaries.
A company called anna put up their weed vending machines this month at Strawberry Fields dispensary in Pueblo, Colo., and will put up more at Starbuds dispensary in Aurora, Colo. over the coming weeks.
The customer experience with anna is akin to self-checkouts at grocery stores and pharmacies.
Shoppers can browse in-store using anna’s touchscreen, and can also order online by scanning their QR code upon arrival at the dispensary. The new technology allows customers to check out within a minute and receive their cannabis products while also maintaining social distancing and staying safe during the ongoing pandemic.
“While the demand for this technology was around long before the pandemic, the presence of COVID-19 has certainly sped up the desire to adopt contactless payment into the dispensary process,” anna CEO Matt Frost told FOX Business. “Likewise, COVID-19 has exacerbated the long wait times often associated at dispensaries. anna allows customers who know what they want to pre-order and be in and out of the dispensary in under a minute, while freeing up budtenders to spend more time with customers who want that individualized experience.”
The new weed vending machines will add to an already thriving marijuana industry in Colorado, whose governor designated it a “critical” business at the outset of the pandemic.
Marijuana sales in May set an all-time record in Colorado with $149,186,615 total recreational sales, according to data released by the Department of Revenue’s Marijuana Enforcement Division. That record was shattered the next month in June when recreational sales totaled $158,102,628.
Shannon Gray, a spokesperson for the Department of Revenue, noted that this is part of a long-term trend, as Colorado has set new marijuana sales and tax revenue records each year for the last six years since Colorado legalized weed for recreational sales in 2014.
The state is on track to break the record again as it sold $978,350,185 worth of weed through the first half of 2020. The state saw $1,747,990,628 of sales in all of 2019.
More self-checkout weed vending machines by anna are set to open in Massachusetts in September, with plans to expand to Nevada, California and Canada next year.
"We’re only a week into deployment, but we’re excited by the interest and curiosity we’ve seen so far, and we expect customers to quickly become accustomed to using the technology as time goes on," Frost said.
