Cannabis Dispensary Business Plan Example

Cannabis Dispensary Business Plan

Starting a cannabis store is popular, but there are expectations and stereotypes that come with it. People expect to see lava lamps, psychedelic music, and stoned staff behind the counter. Giving a driver’s license and address before entering the shop can make customers uncomfortable.

To address these concerns, our signage and messaging will emphasize medical marijuana and the helpful effects of marijuana in a professional atmosphere. The lounge will be set up like a comfortable doctor’s office, and giving information will be like giving health insurance info. We will show new customers around to make them comfortable, and returning customers can shop at their leisure.

Last year, the legal cannabis industry in the United States grossed $5.8 billion. In Oregon, dispensaries sold $393 million in legal cannabis in 2016.

There is a lot of competition in Eugene, OR, with 28 recreational marijuana shops, five medical marijuana dispensaries, and two shops selling both. We will break the stereotype of a dispensary and have well-trained staff to help customers pick the best products. We will have popular strains for those looking to get high.

We expect to make a low profit margin during the startup period and spend most of our revenue on costs. We anticipate encountering unexpected problems along the way.

We project an estimated $120,000 owner investment for the early stages of the business. This includes fixed assets for store furniture and fixtures, as well as startup expenses.

The Oregon cannabis market saw rapid growth last year, with consumers adopting concentrate products. Vapes were the most popular, followed by edibles and pre-rolled joints. Gorilla Glue #4 overtook Blue Dream in total sales. The U.S. cannabis industry is expected to continue growing, reaching retail sales of $11 billion in 2020.

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Customers have many alternatives to choose from, with numerous dispensaries in Eugene. The industry faces challenges due to federal illegality, high taxes, banking limitations, and the presence of the black market.

We will distinguish ourselves by creating an inviting lounge, following all state laws, paying taxes correctly, having banking solutions, and implementing security measures.

Our keys to success are name and brand recognition, reliable inventory, knowledgeable staff, and customer word of mouth.

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