Explosive Growth for Medical Marijuana Card E-Commerce Provider with Solid Team in Place
This innovative eCommerce provider helps users get their legal marijuana cards. With fully compliant frameworks in Maine, New York, Oklahoma, Maryland, and Missouri, this dynamic offering has both a growing national profile and an opportunity for expansion. The company carries DEA licenses for their Nurse Practitioners as well as their Doctors. With impactful marketing practices, this company has more than 23,000 active clients and an average monthly visitor rate of 8,000 to 9,000.
OPERATIONS
Leveraging a simple process and impactful social media initiatives, this business has driven incredible growth. With boundless room for additional scale, this business could expand through offering services in more states, event participation, and improved advertising practices such as paid media, thought leadership, and content marketing. Carrying an average order value of $49, this company is a solid investment that brings with it an impeccable industry reputation and completely clean history of compliant practices.
A reliably scaling brand, this company currently leverages organic social media as well as industry publications in order to grow their vast audience. This strategy can be improved with the addition of SEO tactics, paid media placements, thought leadership, video creation, and content marketing. Additionally, partnerships with influencers and affiliates will be keys to success in this growing field. Differentiating this company among the multitude of options in this young market will make all the difference for future success.
MARKETING AND KEY METRICS
The company leverages yearlong services and a top-grade niche offering to tap into their rapidly growing and highly restricted market. The barriers to entry within the legal Marijuana and cannabis industry are high, lowering the amount of capable competitors while strengthening the value of this offer. As this is a promising business with a solid framework and a huge runway of growth ahead of it, the current owner is looking to sell a majority stake in the business to a buyer that can help grow the business, and retain equity in this sale process.
A reliably scaling brand, this company currently leverages organic social media as well as industry publications in order to grow their vast audience. This strategy can be improved with the addition of SEO tactics, paid media placements, thought leadership, video creation, and content marketing. Additionally, partnerships with influencers and affiliates will be keys to success in this growing field. Differentiating this company among the multitude of options in this young market will make all the difference for future success.
As this industry expands, more offerings become more readily available which is a tremendous and constantly scaling opportunity for growth. Providing med cards in more states is just the beginning of possible SKU growth within this category and market relationship development is just as impactful an initiative. Partnering with distribution centers, targeted media outlets, and even seed-to-sale systems, a new owner within this space is sure to have limitless opportunities.
The customer base for this business consists of individuals seeking legal access to medical marijuana. These individuals may suffer from chronic pain, debilitating illnesses, or other qualifying conditions that can be treated with medical marijuana. The customer base also includes medical professionals who specialize in prescribing medical marijuana. By providing a convenient and streamlined process for obtaining medical marijuana cards, this business has attracted a large and loyal customer base.
BUSINESS MODEL & RESOURCES NEEDED
Spending an average of 1-10 hours a week on this business, the current owner is responsible for strategic planning, market research, payroll, management, and overseeing daily operations. These tasks are easy to train so that new ownership can step in, get trained quickly, and be ready for success after the transition is complete. Now, this company works with nurse practitioners, doctors, customer service representatives and a VP of operations all working remotely in order to deliver this valuable service. With no physical space or inventory needed, this company has minimal overhead costs.
THE INDUSTRY
The medical marijuana industry is a fast-growing and highly regulated market. With the increasing legalization of marijuana for medical use, more and more individuals are seeking medical marijuana cards to gain legal access to marijuana for treatment. This industry includes various players such as medical marijuana dispensaries, online platforms for obtaining medical marijuana cards, medical professionals specializing in prescribing medical marijuana, and regulatory bodies that govern the use and distribution of medical marijuana.
OPPORTUNITIES TO SCALE
As the medical marijuana industry expands and more states legalize the use of medical marijuana, there is a significant opportunity for this business to scale by offering services in additional states. The potential for SKU growth within this category is immense, as the demand for medical marijuana cards increases. Additionally, forming partnerships with distribution centers, targeted media outlets, and seed-to-sale systems can further drive expansion and growth. The rapidly growing market and the evolving regulations present numerous scale opportunities for this business.
Asking Price: $5,600,000
Gross Income: $1,211,147
Cash Flow: $716,872
Year Established: 2018
Employees: 4
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