October 20, 2014

How Much Money Does A Seattle Marijuana Store Make In A Day?

October 20, 2014
seattle washington marijuana cannabis cup high times

seattle washington marijuana cannabis cup high timesLegal recreational marijuana sales started in Washington near the beginning of July. However, until very recently, there was only one legal recreational marijuana store in Washington’s largest city of Seattle. There are now two stores in Seattle, with hopefully more opening sooner than later. The Seattle marijuana market consumer base is by far the largest in the state, and that translates to enormous sales revenues. How much does a Seattle marijuana store make in a day? Per Capitol Hill Seattle:

Anybody who thinks Washington’s I-502 pot business is fun and games better just mellow out. CHS has obtained records from the state that document the first week of sales at Uncle Ike’s, the first I-502 retailer to operate in Central Seattle within wafting distance of Capitol Hill. The totals are impressive.

According to the state liquor board, the 23rd and Union pot shop started things off with a bang, netting nearly $17,000 in marijuana sales on its September 30th launch day. The rest of the week didn’t fade generating an average take of $13,736 per day.

If current trends persist, that would work out to roughly $5,000,000 in a year. For those keeping track of taxes, the store has generated roughly $3,500 per day in tax revenue, which would work out to roughly $1.27 million dollars a year in tax revenue. And that’s one store. Obviously, as more stores open up in Seattle, I’d expect those numbers to dip a bit. But that’s still a very staggering figure, one so large that it’s hard to ignore. Why is every city and state in America not doing this?

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