Why You Need a Cannabis Business Plan

A business plan is usually a requirement for investors and license applications. As a business owner, it helps answer fundamental and critical questions about how much money it will take to start your cannabis business and how much your 100% legally compliant medical or recreational cannabis business will make.

Does Cannabis Have a Future

Cannabis. Spending on legal cannabis worldwide is expected to reach nearly $50 billion by 2026 at a compound annual growth rate (CAGR) of 16% from 2020 and hit $57 billion by 2030, while cannabis market in the United States and Canada is estimated to be about $46.5 billion and other $10.5 billion would go to other markets. The North America legal cannabis market amounted to about $34 billion in 2023 with a year-to-year rate of 10%. The U.S. legal cannabis sales reached almost $30 billion in 2023 and could be as high as $35 billion in 2024 according to the Arcview/BDS report.

Hemp/CBD. These days, at least 70 countries cultivate hemp for commercial or research purposes. The largest producers of hemp are currently China, France, Canada, USA and Chile. In 2023, hemp acreage in North America and the European Union countries totaled about 75,000 acres and 85,000 acres respectively, China – the world’s largest hemp fiber and seed producer – planted more than 340,000 acres of hemp, which put global acreage at about 520,000 acres. According to marketing analysis reports by Technavio, the global industrial hemp market size is set to reach $6.87 billion by 2027 with a CAGR of 17.1%. Grand View Research estimates that the global hemp-derived CBD market size has increased to $4.3 billion in 2023 from $2.7 billion in 2022, and it is expected to grow at a CAGR of 15.8% from 2024 to 2030.

What Is a Cannabis Business Plan Template

We offer “70% ready to go” professional Cannabis business plan templates for Word with Excel financial models and PowerPoint pitch decks. Upon request, we can also provide versions compatible with Google Apps G Suite. A business plan delivers an overview of your cannabis business from initiation and outlines your plan for the next seven years. It explains your business goals, strategies for achieving them, and market analyses to support your plans. Our templates are completely open, editable and flexible, they can be used for any forecast time period and any business size. We also have a range of Hemp/CBD business plan templates at hempcbdbusinessplans.com.

Types of Cannabis Business We Offer Templates for

You can find templates for any type of cannabis business available for licensing, including but not limited to cultivation, processing, extraction, manufacturing, retail, testing, transportation, consumption, event organizer, delivery and more in any combination for vertically integrated or monobusinesses, and also for microbusiness. If you could not find a suitable template for your business, please contact us. All products (cannabis business plan template, financial model, pitch deck template) can also be purchased separately or in any combination, e.g. Word document + PowerPoint presentation and so on.

Cannabis Business Plan Samples

Get inspired with our cannabis business plan samples:

Articles

Get a free consultation

We are here to help

Cannabis Business Plan FAQs

Where is the largest cannabis market in the world?

Sales in California represented about 15 percent of legal sales in the United States in 2023 while combined sales in top five states represented more than 40 percent. The state is projected to generate nearly $6 billion in revenue from legal sales of recreational and medical cannabis by 2025.

What is the outlook for cannabis in 2024?

Global market was valued at $35 billion in 2023, an increase of about 12% over 2022, and it is expected to rise nearly 20%, to $41.5 billion, in 2024.