Ever dreamed of owning your own Cannabis Cultivation facility in scenic Seward, Alaska? If so, Bruce Martin has an offer for you.
Bruce didn’t necessarily intend to go into the marijuana growing business. He built his warehouse with multiple projects in mind, but his wife encouraged him to choose something he’d always wanted to do; grow weed. So they converted their 4,500 square-foot warehouse into a legal cultivation facility. They were one of the first legal cultivations to come on board in 2016, helping to supply the handful of shops that were quick to open their doors.
Bruce makes it clear when talking to him that he loves what he does. Being able to successfully run a profitable cultivation facility has been a dream come true for this Northern California native. After moving to Fairbanks in the 80’s, he and his wife eventually settled in Seward. It’s likely he’d stay here the rest of his life and continue the fun, however impending family needs will soon require much of Bruce’s energy, which means it’s time to sell his beloved dream come true.
The business sits on 2.21 acres of land. The commercially zoned warehouse offers room for expansion, as the operation is currently only using 2,250 square feet, or half of the available space. This is an awesome opportunity for someone with a basic grow knowledge who wants to enter the industry with an upper hand or an established business looking to expand.
Budding Alaska utilizes a hydroponic flood table system, in an indoor, controlled atmosphere with MH and HPS lighting. They’re currently growing 15 strains on a 120 day growth cycle.
The Standard Cultivation license is NOT transferable, so any interested parties will need to qualify for their own license in their own name. Potential buyers may want to consider consulting Alaska Statute 3AAC Chapter 306 for information regarding State of Alaska requirements for entering the cannabis industry in our state.
Despite it being a very profitable business being offered at fair market value, Bruce has found it tricky to advertise as such. You see, legal grey areas make it difficult for real estate sales agents to be able to sell properties with cannabis related tags. It has to do with federal regulations regarding insurance, limited lending options, and title policies. Similar stories are told by doctors and many other business professionals. It’s one of the unfortunate parts of paving the way in a new industry, not yet federally recognized as being legit.
Bruce wasn’t going to give up that easily. He established a relationship with a clever marketing strategist, who currently wishes to be unnamed, but for the sake of this article, we named “The Marketer”. They engaged a powerful campaign strategy that starts with listing the property online across various cannabis business sites. It won’t take long for the word to get out; Seward is almost untapped cannabis potential. While a few people have solid plans to open stores, no one’s currently done so.
Here are the words of “The Marketer”.
“Budding Alaska will become the #1 recognized source of the Alaska Cultivation Industry.”
“Build it, and they will come.” My goal is to brand Budding Alaska with the best media content and the most innovative marketing strategies this world currently has to offer. It’s not just about having good photos and videos these days … it’s about HOW the media is distributed to target audiences. Our world expects to be fed engaging content using creative delivery strategies, combined with supporting documentation. “I’m in the business of giving the consumers what they want.”
“Plan. Produce. Promote.” In my case, it’s essential that the media and marketing accurately reflects the same quality of craftsmanship that Budding Alaska produces. Our top-tier marketing campaign has taken about 3 months to plan and produce. Now, it’s time to promote, promote, promote! We have carefully and strategically selected a global audience and we project the “strong likeliness” of a full price sale. I would love to see a local take on this purchase, but us Alaskan’s tend to drag our feet long enough to miss out on great opportunities.
“Two birds, one stone.” The media and marketing efforts were designed in a way to extend beyond the sale of Budding Alaska. The new owner/s will have also obtained this renowned media and a powerful digital presence. They will have the ability to modify, update, and scale this model to help secure longevity with their partners.
“Like a caterpillar becomes a butterfly.” This specific project is based on a common goal… the sale of Budding Alaska. Monitoring conversion is a vital statistic in the marketing realm, and in saying that, value is gained by combining proven processes with modernization and innovation. As an entrepreneur, it’s expected of me to take risks; however, calculating those risks with my acute attention to detail is what makes all the difference. “If it was really that easy, then everyone else would be doing it too.”
Budding Alaska doesn’t pour cheap wine, their tasting room is a bottomless fountain of only the finest Champagne.” -The Marketer
Can you imagine the possibilities? Think of bussing tourists from the dock to your cultivation facility for tours (I’m envisioning glass windows, like Tillamook Creamery in Oregon). If one pursued a retail license they could also have a small store, or even a manufacturing license. Heck, why not get all three and make it a great time for everyone? Once on site consumption comes into play — which is likely to happen in rural Alaska sooner than it will in Anchorage — the potential is immense. The options are endless. Bruce is even willing to stick around for a little while and help with the transition so the change of ownership is a simple process.
The real estate is valued at 1.3 mil. The business has been estimated in value by Chambers and Associates CPA at $560,000, and is now for sale by owner at the price of $1,940,000. Are the odds in your favor?