Cannabis Compliance Software Platform: Seed-to-Sale with Monthly Subscriptions
Seed-to-Sale Compliance Software Platform is a SaaS company in the cannabis industry that provides a cloud-based software solution for ensuring compliance with state-specific licensing and sourcing regulations. The company offers features such as monthly reporting, inventory scanning, lab records, and transfer tools to help cannabis businesses meet regulatory requirements.
OPERATIONS
The company operates on a monthly subscription model, providing ongoing software services to its customers. It has a strong infrastructure for scaling across states and possesses an email database of 7,800 commercial OMMA ID holders. With little advertising being done currently, there is significant growth potential for the business.
The company’s supply and logistics involve the cloud-based delivery of its software platform to customers. The platform is remotely set up and maintained, requiring minimal effort and specialized skills. Customer contacts are managed through the Zendesk platform for effective tracking and categorization.
MARKETING AND KEY METRICS
The company’s marketing strategy focuses on reaching out to cannabis businesses and promoting its SaaS platform as a solution for ensuring compliance and streamlining operations. With a likable and appealing company voice, the business has a solid foundation for social media outreach to engage with its target audience.
The company’s sales channels primarily involve online platforms, where customers can sign up for monthly or yearly subscriptions. To drive growth, the company can expand into additional states, extend its services to processors and dispensaries, and add business-focused features such as analytics to attract a wider customer base.
Key metrics in this business include the number of monthly subscription sign-ups, customer retention rate, average revenue per customer, and customer satisfaction ratings. These metrics help determine the financial health and growth potential of the business.
The company’s customer base consists of cannabis businesses in Oklahoma, specifically those with commercial OMMA ID holders who require seed-to-sale compliance software. The company has a strong customer base and the potential for expanding its reach to other states as the cannabis industry continues to grow.
BUSINESS MODEL & RESOURCES NEEDED
The company currently has one full-time employee dedicated to customer service and handling refunds and customer satisfaction issues. The owners also spend up to 3 hours a week on customer-related tasks. A new buyer can easily take over the existing human resources setup.
THE INDUSTRY
The cannabis industry is rapidly expanding, driven by the legalization of cannabis for medical and recreational use in various states. This industry encompasses businesses involved in cultivation, processing, distribution, and retailing of cannabis products. Examples of companies in the cannabis industry include cannabis dispensaries, cannabis cultivators, and cannabis product manufacturers.
OPPORTUNITIES TO SCALE
Opportunities for scaling this business include expanding into other states where cannabis is legalized, offering additional services to processors and dispensaries, and introducing new features and functionalities to attract a larger customer base. The company’s existing infrastructure and strong brand presence position it for rapid and reliable growth.
Asking Price: $806,000
Gross Income: $299,000
Cash Flow: $260,000
Year Established: 2018
Employees: 1
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