Product description

The Cannabis and Hemp Testing Laboratory Business Plan Template will help you create an essential part of your cannabis license application and prepare for a meeting with potential investors.

Most countries and states require that all batches of cannabis products be tested before sale. Third-party testing labs must meet certain criteria (such as ISO/IEC 17025 accreditation) in order to be licensed as a cannabis testing laboratory, which is authorized to test usable cannabis products. Testing laboratories test cannabis products to ensure they are free of contaminants and are labeled with the exact amount of cannabinoids and terpenes.

Currently, the United States, Canada, China, and the EU legally define hemp as having a THC level below 0.3%, while some countries have set the THC limit for industrial hemp at 1.0%. In the US, the new hemp regulations require labs to be certified by the U.S. Drug Enforcement Administration (DEA) to handle hemp crops testing.

Check your local regulations before starting a cannabis and hemp testing lab.

The template includes an Excel financial model that allows you to change variables and immediately see the impact. The model will help you break down your costs, so you will know how much it will take to get into the cannabis and hemp testing business, including initial investments, direct and operating costs and will also show you the potential profits from the business.

Cannabis and Hemp Testing Laboratory Financial Model Sample (New York)

Our template also includes a professional and customized business plan Word template.

Cannabis and Hemp Testing Laboratory Business Plan Sample (California)

A pitch deck is a brief presentation, often created with PowerPoint, used to provide your audience with a quick overview of your cannabis business plan. You will also use your pitch deck during face-to-face or online meetings with your partners and co-founders. You can purchase an investor pitch deck template separately or as a part of a full business plan package.

Cannabis and Hemp Testing Laboratory Pitch Deck Sample (New Jersey)

A cannabis business plan is usually a requirement for investors. A good business plan and pitch deck convey business goals and strategies, market analysis, operating plan, organizational structure and financial information. The Cannabis and Hemp Testing Laboratory Business Plan Template projects seven years ahead and takes the reader down the path of intended business evolution, it includes:

1. An Introduction to the business including an Executive Summary
2. An overview of cannabis industry and target market
Market Overview
Target Market
Industry Analyses
SWOT Analyses.
3. Marketing strategy, Sales forecast.
Online Advertising Obstacles
Marketing Plan
Competition
Target Customers
Revenue Forecast
4. Operating Plan
Laboratory Location
Testing Methods
Testing Equipment
Physical Security Plan
5. Organizational Structure
6. Financial Plan
Funding analysis
Direct and Operating Expense Breakdown
Profit & Loss Forecast
Cash Flow Statement
Balance Sheet
Main Ratios
7. Appendix

Should you have any questions, please do not hesitate to contact us.

This template for a hemp/CBD business is available at hempcbdbusinessplans.com.