How to Write a Business Plan for a Cannabis Company
The cannabis industry is exploding right now. If you want to start a successful cannabis business, heres how to write a business plan that will help you in this booming market.
Its a very exciting time in the cannabis industry right now. One of our Bplans writers described going into business in cannabis as a once-in-a-generation opportunity, with the product rapidly becoming legal for recreational as well as medical use in many states.
Legal cannabis generated $16 billion in total economic output in the United States in 2017, and research indicates it will increase 150 percent by 2021, according to a report from cannabis industry analysts Arcview Market Research, in partnership with BDS Analytics.
So how do you get a foothold in this sunrise industry? With so many people jumping on the seemingly lucrative cannabis bandwagon, it is important for you to carefully think through your cannabis company before starting. In legal states, the markets have become so saturated that cannabis companies can end up with thousands of pounds of unsold product. Write your business plan and develop your business model with this in mind so you can avoid these issues.