Once that is complete, the next step is to write a business plan.
Students Middle aged people — who are usually working stressed from work and may have insomnia. The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician. Our Competitive Advantage In every business there is competition, however, this competition means that you have been handed a passport to try your best in seeing that you are still visible on the business radar at all times.
This is so that we can make our own business work out and so that we can as well compete favorably with others.
The retail pharmacy industry is known to be highly competitive in the U. S and in most parts of the world. There are alternative provides like mail-order firms, grocery chains, mass merchants and dollar stores; these are the real competitors in the industry.
These competitors ensure that they do all that lies within their powers to gain favorable market share of the available market in any given region.
In this industry, most of the competitive dynamics center around the quality of cannabis dispensed, the service offered, the location where the dispensary is at, discounts offered for the products, and to some extent the brand of the business plays a huge role.
Even though competition is stiff especially from the big, well-backed enterprises, smaller enterprises can still get their fair share of the market, if they stay true to the competitive dynamics.
It is through top notch customer service that they can secure a fair share of the available market. Smaller retail pharmacies ensure that each order carries a printout.
The printout accompany the medications providing directions on how patient are expected to take the medications, other drugs that should be avoided concurrently, and other useful information. Tammy Morgan Medical Marijuana Dispensary Store is coming into the market well prepared to favorably compete in the industry.
Our store is well positioned and visible, we have enough parking space with good security. Our management staff is well groomed in retail pharmacy and all our employees are trained to provide customized customer service to all our clients. We are going to be one of the few medical marijuana dispensary stores in Los Angeles that will be open 24 hours a week and 7 days a week.
We have enough staff that is ready to run a shift system. At Tammy Morgan Medical Marijuana Dispensary Store, we will ensure that we have a wide range of products prescription drugs and over-the-counter drugs. We will also be involved in the sale of beauty products, cosmetic, postcards greeting cardsconvenience foods and other related products available in our store at all times.
It will be difficult for customers to visit our store and not see the product that they are looking for.
One of our business goals is to make our medical marijuana dispensary store a one stop shop. Our source of income will be majorly in the retailing of medical marijuana and the retailing of prescription drugs and over-the-counter drugs.
Tammy Morgan Medical Marijuana Dispensary Store will also generate income from the sale of beauty products, cosmetic, postcards greeting cardsconvenience foods and other related products.
Sales Forecast One of the true marks of an effective entrepreneur is being able to forecast sales based on the magnitude of work that has been put into the business.
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
Below are the sales projections that we were able to come up with for the first three years of operations; First Year-: Please note that the above projection might be lower and at the same time it might be higher.
In order to achieve that, we will ensure that we offer medications at lower prices compare to what is obtainable in Los Angeles. We will also ensure that we have wide range of drug supplies in stock for both quick shipment and store front pick up.
All our employees will be well trained and equipped to provide excellent and knowledgeable customer service. Before choosing a location for our medical marijuana dispensary store, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Los Angeles — CA.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.
We have hired experts who have good understanding of the retail industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Los Angeles — CA.
We do not see hiring the best hands in marketing as a waste of money; rather we see it as a wise investment that will guarantee a lot within a short period of time.Building a successful marijuana business requires hard work, time, and a well developed business plan.
Whether you’re in the process of launching your very first business or you’re a serial entrepreneur, a business plan is absolutely essential. This business plan reflects a desire to mine the wider legalization of recreational marijuana for the launch and growth of a cannabis-based business.
The goal is to participate in and profit from activities in the various sectors of the industry—biotechnology, cultivation and retail and consulting services. Complete and professional business plans, including pro forma financials and projections to help you know how much money it'll cost to start your business and how much money you can make by starting and operating your % legally compliant medical and recreational marijuana business in your state.
Medical Marijuana Business Templates in a Box. You do not need to write a tome. A business plan is met to establish a plan of action to reach your target market. Putting your ideas in writing is critically important.
CHAPTER EIGHT Letter of Intent to Purchase a Business Template This letter is to be used in conjunction with a 5/5(3).
Marijuana Business Plans Purchase our vertically integrated dispensary plan templates and customize for your application. Our recommendations for a well-rounded dispensary business plan to assist individuals on how to open medical marijuana facilities is our Template Business Package which includes the following plans.
Our Medical Marijuana Dispensary business plan template is written specifically for the cannabis treatment market. With a just few modifications (Like the name of your company and owners bio, market, financials and location specifics) you can customize this business plan for your exact needs.