Having a strong business plan is good for companies in any industry, but when it comes to growing cannabis, having a well-thought-out marijuana cultivation business plan is an absolute necessity. In fact, when starting a cultivation business, you must have a cannabis cultivation plan to submit with your application to receive a license. Additionally, you must show investors your detailed plan for success.
Writing a business plan isn’t easy—especially when you have to dive into the details of other industries that typically wouldn’t have to consider, like HVAC and compliance. It takes a lot of research, planning, and time to develop a plan that lays out procedures that haven’t been practiced. Even more, it is specific to your unique operation and instills confidence in the regulatory agencies and investors.
But, all of that work will pay off when you have created a step-by-step guide to the heart of your cannabis cultivation business.
To give you some more insight on how to make a cannabis business plan, we’ve compiled a list of six components that a great plan should include:
Cultivating a Marijuana Growing Business Plan
Provide a detailed overview of how your cultivation facility will be laid out. This includes general information, like the size, number of rooms, and number of plants.
You’ll also want to go into extensive detail to include everything from your labor processes to the air filtration system, production schedules to irrigation.
The more detailed your facility map is at the start, the easier it will be to analyze for gaps and needed changes when you audit your operation.
You will need to describe the physical layout of your facility, surrounding property, parking lots, and neighborhood.
Include extensive documentation including blueprints, maps, etc—documents that lay out everything from fencing and landscaping to lighting and camera locations.
Next, have your policies and procedures in place. This includes how individuals enter and exit the facility.
Transporting your goods from one location to another can be a tracking and compliance nightmare. This is the perfect time to make sure that you have everything you need in place for your product to arrive safely and securely.
Detailed plans should include licensed drivers, vehicles being used, shipping manifests, packaging and labeling practices. In addition, departure and arrival schedules and the routes should be tracked to ensure there is a paper trail throughout the entire transportation process.
Packaging and Labeling
All cannabis product labels should include mandatory information prominently displayed in a clear and legible font.
From standard information to health and safety warnings, each statement you must use on your packaging should be clearly defined.
Regulations regarding packaging and labeling can vary from state to state. Be sure to review your state’s requirements for the most accurate information.
You must show how your business will meet the compliance requirements to operate legally in the cannabis industry.
Your cannabis cultivation business plan must show that you understand required compliance regulations. Additionally, you must show how you will ensure ongoing compliance with proper standard operating procedures and staffing.
We always suggest having a dedicated employee or a third-party consulting partner on record that knows all your operation’s compliance requirements.
Since cannabis is a heavily regulated industry with separate overseeing authorities and designated tracking systems depending on location, your seed to sale tracking software is business-critical for compliance as well as business growth.
Choosing the right API cannabis software can significantly affect the success of your business. 365 Cannabis stands unrivaled with its open API ecosystem that allows seamless integration with over 80 partners. It empowers you to select vendors best suited to your requirements and to stay ahead of the curve in a competitive market.Explore more about 365 Cannabis partners and integrations and how our cannabis compliance software can propel your business forward. Choose 365 Cannabis, the smart choice for your cannabis business, and join us in shaping the future of the cannabis industry.