BUSINESS PLANS AND FINANCIALS
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.
It is also a good idea to write a formal business plan to prove your professionalism. You can overcome stigma and stereotypes by demonstrating that you have a clear, viable idea for selling a product that consumers want and enjoy.
Who You Are. What Problem Your Business Solves. Your Target Market. Your Team. Your Competition. Milestones and Traction. Your Financial Summary.
All Very Important Information
Target Market and Sales Strategy
Who is Your Target Market. What is Your Positioning. How Will You Get and Keep Customers. Pricing? Promotions?
Startup and Financial Summary
Your financial plan helps you track your finances so you can accurately gauge your business’s performance.
Profit and Loss Statement, Balance Sheet, Cash Flow Statement, all this is Key Information. What is your Sales Forecast? Business Ratio’s? Personnel Plan? The List Goes On and On
A Solid Set of Financial Projections for you Company will answer So Many Questions. How much will it cost to get the equipment. How much will it cost to run for the first year. What are my Monthly Operating Expenses for Year 1? Year 3? Year 5?
What Staff am I going to need and how much will they be salaried annually. How much Charitable Contribution, along with Tax revenue, and Job Creation, will I be providing to the Municipality in Which Our Business Will Be Operating. Important Questions Indeed. Oh, and don’t forget Annual Revenue and Expenses, Cost of Goods Sold, and the biggest one…Net Income. Very Important Metrics, wouldn’t you say?
In Most States, A set of 5 Year Forecasting Pro Forma Financials are required to get the key financial information that will go throughout the business plan as well as provide you with the Key Metrics and Timeline Information you will most definitely need to answer Technical Criteria Questions on ALOT of State Applications, in various States.
New Leaf Can Create Solid Financials for Your Company, no matter What the State or License Being Applied For.
Additionally, Most States also have a Minimum Capitalization Requirement that has to be officially reviewd by a Licensed CPA, as well as the backing documentation to prove it.
This is Attested to by our CPA who handles all these requirements for you. We’ve got you covered.
Promissory Notes are a Promise to Repay the Lender(s) for the Capital being provided by the Lender to the Company. Alot of times this is also a State Requirement as well. Again, we’ve got you covered.