Custom Business Plans
Developing a business plan based on solid data points is an essential
first step in securing financing or investment.
At present, the medical cannabis market has been estimated to be worth $3bn over the next several years, according to a recent Dundee report, while the recreational cannabis market could reach $6bn to $10bn. This is also in line with the recent Parliamentary Budget Office (PBO) analysis, and which is also corroborated by the Deloitte survey. Benchmarking against the Colorado market yields similar predictions.
WHY DO YOU NEED A BUSINESS PLAN?
Putting together a business plan is an essential first step in deciding whether to enter the market, and for securing financing or investment. In addition, most regulatory bodies will require or request a business plan as part of the application process to assess the applicant’s knowledge of the industry and ability to succeed.
WHAT MAKES A GOOD BUSINESS PLAN?
The “final product” of a business plan should include a detailed financial model with summarized financial statements, as well as detailed schedules to support the information presented. Alongside this, a presentation or write-up should add insight and context to the financial model, including commentary on the industry, competition, key management personnel, market size, the operational & strategic plans, key risks/opportunities, sensitivities in the financial model, and any other pertinent information.
However, these outputs are only as good as the underlying assumptions behind them! These key assumptions need to reflect key drivers of business success, be grounded in reality, balance the risks and opportunities present in the Company’s plan, and be validated by subject matter experts, competition, or other industry data.
Our business plans are prepared by finance professionals with previous experience in corporate and operational planning & analysis at industry-leading companies. We take both a detailed, ground-up approach to forecasting and financial modeling, as well as a big-picture, strategic view to ensure the plan makes sense in the context of the current and proposed regulatory environment and industry landscape. Since CCI boats some of the best industry professionals, we utilize subject matter experts to develop, validate, and challenge key operating assumptions that underlie the financial model, alongside industry & market data. Finally, our approach with our clients is intended to be educational and collaborative. The financial model and commentary we prepare will help our clients manage their business long after the initial work is completed.