Leading Smoke Shop greater Palm Springs

Not Disclosed, CA
Riverside County


Asking Price: Annual Revenue:
$600,000 $1,152,826

Retail: Non-classifiable


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RE: Leading Smoke Shop greater Palm Springs Broker: Rick Rayl
Owner Financing is Available!
$100,000.00

Quick Facts

Asking Price: $600,000
Annual Revenue: $1,152,826
Net Profit: Not Disclosed
Cash Flow: $257,004
Total Debt: Not Disclosed
FF&E: $32,500
Real Estate: Not Disclosed
Year Established: 1999
Employees: 2
BBN Listing #: 415155367
Broker Reference #: 86808-826122

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Business Overview:

Full service smoke shop offering a wide variety of products and a deep selection. This established successful business was purchased 2 years ago by a dynamic MBA who has drastically improved the business and doubled sales.
20% of the business is high margin glass paraphernalia sold at high margin. 50% of the sale are tobacco products sold at a good value to entice repeat business. 30% of the business and growing is the high margin vape category. This store has the best selection in the valley and draws clientele from miles around.

The location is outstanding! We are located in the same parking lot as the only McDonald's and Del Taco in the entire city, so that provides us great exposure multiple times a day when customers come for breakfast, lunch or dinner. We are located right on the main road and we are the first smoke shop on your way into the city. Our brand new LED smoke shop sign can be clearly seen from the main road and drives a good amount of traffic to our location as well. In the same shopping center we also have a nail salon, tax return business, check cashing, and the only riverside county WIC retail store in the city.
Inventory is not included in the sale price.
Sales are up 20% so far in 2019!
Owner Financing Considered.

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Property Features and Assets:

Leased unit in a very busy strip mall adjacent to a McDonald's. Center is anchored by grocery store with gas station. Smoke shop has been in operation in Greater Palm Springs area for over 20 years with a very loyal customer base. Through the years this store has seen significant growth in all categories of the tobacco industry. We have long established contracts with major cigarette manufacturers since the inception of the location. Smoke shop has been operated by three separate owners over its 20 years of operation each adding to the value to the store through various improvements such as adding glass, roll your own tobacco, category specific merchandise, general accessories, CBD, and vape products. Smoke shop has seen a steady growth in sales over the span of 20 years in operation. Over the past two years the store has gone through a substantial remodel and sales growth has exploded with the addition of carrying all size parts, vape products, CBD, and many more items enhancing the new atmosphere in the store. The area is the central hub for the marijuana industry in the state of California, so we have seen a huge increase in industry specific customers arriving to the city in search of work, housing, and for recreation. Many dispensaries in the area have attained world class awards in the marijuana industry for their home grown products and those are products only available in the area.

Market Competition and Expansion:

There is a smoke shop in the next shopping about a 5 min drive from our location. Near that smoke shop is another very tiny smoke shop with absolute minimal products. This store has the potential for a lot more growth! The vape area can be expanded to carry many other brands as currently we only carry the vape pens and parts to one major brand, so there is still much room for expansion. Even still Smoke shop has the largest vape selection in the entire city. Also, carrying more high-end glassware ($1,000+) can help reach a new customer base that is not too price sensitive opening up opportunities to increased profit in glassware and parts.

Reason for Selling:

Moving to wholesale.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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