Cannabis Market Size: Retail Sales

It is estimated that combined U.S. medical and recreational cannabis sales could rise between $32.5 billion and $35 billion annually by 2024, nearly a threefold increase from estimated annual sales in 2019. Retail cannabis sales are projected to reach $45 billion to $50 billion by 2030, driven in large part by the opening of new markets for recreational cannabis.

How Much Does it Cost to Open a Cannabis Dispensary?

Things to Know Before Writing a Dispensary Business Plan

The cannabis retail business is highly regulated at both the state and local levels. If you intend to operate a dispensary, you will likely need to obtain local permits, such as zoning approval from the local municipality allowing the operation of a dispensary business, before obtaining a dispensary license. State agencies responsible for regulating cannabis licensing have strict requirements for standard operating procedures, employee training, and facility management. It is important to understand these requirements and any other eligibility criteria before writing a dispensary business plan as part of your dispensary license application. The six most important first steps when opening a dispensary can be boiled down to understanding regulatory requirements, researching licensing requirements to ensure you get a license, finding a location, knowing your consumers, writing a dispensary business plan, and raising initial capital.

How to Start a Cannabis Business?

Why do You Need a Dispensary Business Plan?

Cannabis retail business conditions differ from country to country and state to state and if you have planned to set up your own retail business, then you must comply with the laws of your particular location. Licensing requirements depend on the type of business you wish to start, however, all of them include operational plans for your business to submit your application for licensing. Some plans include, but are not limited to: a cannabis business plan, a diversity plan, a security plan, a plan for positive impact, and a plan to remain compliant with local codes and ordinances. Each plan should be tailored to your application and include items required in the regulations.

Also, if you are looking to raise funds through a bank loan or investors, you will almost always need a business plan and/or a investor pitch deck to present to investors. And even if you plan to invest your own funds, you will need at least a financial model to calculate all costs and profits.

How to Write a Dispensary Business Plan

A business plan is a comprehensive document that outlines the company’s goals, operations, management, finances and market data. The most important areas of a cannabis business plan to focus on include the executive summary, financial forecast (with detailed funding analysis), and operating plan.

Cannabis Dispensary Business Plan Sample. Table of Contents.

EXECUTIVE SUMMARY
  • Project Scope

  • Market Opportunities

  • Start-up Summary

  • Financial Projections

COMPANY DESCRIPTION
PROJECT SCOPE
  • Mission/Vision/Goal

  • Objectives 

  • Products & Services 

  • Key Customers

MARKET OVERVIEW
  • Global Market Overview

  • North American Cannabis Market

  • Cannabis Market in the US and Brief State Market Overview

  • Cannabis Retail Sector Projections and Perspectives

  • SWOT Analyses

STRATEGY & IMPLEMENTATION
  • Online Advertising Obstacles

  • Alternative Online Advertising Options

  • Marketing Plan

  • Cannabis Directories

  • Launching Strategy

  • Sales Forecast 

  •  
OPERATIONAL PLAN
  • Location/Facilities

  • Project Plan

  • Physical Security Plan

  • Video Surveillance

  • Packaging and Labeling

  • Inventory & Tracking Solution

ORGANISATIONAL STRUCTURE & MANAGEMENT
FINANCIAL PROJECTIONS
  • Funding Analyses

  • Direct & Operational Costs

  • Profit & Loss Forecast

  • Cash Flow Statement

  • Balance Sheet

  • Main Ratios

APPENDICES
  • Income Statements, monthly

  • Cash Flow Statements, monthly

  • Floor Plans

We offer professional Cannabis Dispensary Business Plan Templates, including pro forma financials and projections to help you know how much money it will cost to start your business and how much money you can make by starting and operating your 100% legally compliant cannabis business. With our pre-filled Dispensary Business Plan Template, you already have your first draft. The Cannabis Business Plan Template includes:

  • Excel financial model that you will be able to edit and customize according to your business needs

  • Word business plan document template, open and editable

  • PowerPoint pitch deck template, open and editable

  • Unlimited support (email)

Cannabis Dispensary Business Plan Sample

Cannabis Dispensary Business Plan Template


Cannabis Dispensary Pitch Deck Sample

Cannabis Dispensary Investor Pitch Deck Template






CBD Products Retail/Online Store Business Plan templates are available at hempcbdbusinessplans.com.