CANNABIS BUSINESS PLANNING

Your business plan is the
ROAD MAP TO OPENING A SUCCESSFUL BUSINESS IN YOUR DESIRED CANNABIS MARKET

A business plan is the foundation of any company, but for a cannabis business, particular areas require detailed regulatory diligence and planning. For example, the following unique and often challenging considerations can easily be overlooked; securing compliant real estate, navigating zoning and set-back regulations, access to banking services, access to adequate insurance, ensuring a profitable business model that accounts for future regulations, compliant security plans, illicit market diversion prevention plans, developing safe operating procedures, and establishing business structures for tax efficiency (IRC-280E).

Your business plan will need to address each of these areas to help ensure compliance and profitability. If your operation primarily serves patients, then be sure to research the qualifying conditions in that state or country to assess if the market can provide enough cash flow and has a suitable customer base. In some markets, one strategy is to enter a market knowing that your operation will not make a profit for years, but the first-mover advantage will be worth much more in time. Gaining clarity on these key areas first will prove invaluable to an operation's timeline, helping them to apply for licensure, remain agile in the face of changing regulations, and prevent their business from losing money due to inefficient procedures and or improper structuring. 

PLAN FOR YOUR CANNABIS BUSINESS’ LAUNCH
and Advancement in the Industry

A cannabis business's market and operation type influence every aspect of its business plan, which demonstrates to regulators and investors that you have what it takes to stay compliant and competitive in your market. 3C understands the nuances of running a cannabis business and has developed key insights from extensive research on cannabis markets across the globe. We conduct a detailed analysis of your business and examine your operation for optimal revenue generation and tax-saving opportunities. To provide the most comprehensive solutions possible, we also utilize the expertise of cannabis business plan consultants and finance professionals. We will help you to mitigate industry challenges such as application requirements, International Good Practice standards, real estate choices, and how to build knowledgeable teams. 

Your business plan will help you and your team to:

• Prepare to engage stakeholders
  
• Project your capital requirements
• Ready your articulation documents to share your story with potential investors, regulatory officials, and the local community
• Hire key staff
• Raise capital
• Identify your business's niche within the market
• Communicate your business’s mission and goals to regulators
• Prepare for the next steps in the business development process