As you enter the next business frontier, your growth is our focus
Devising a comprehensive plan is the first step to building a successful business. Canna Advisors works with our clients to design personalized business plans with detailed financial models that can be used to secure needed capital, recruit key executive-level talent and provide a foundation for future application development. The in-depth plans cover these key areas:
36-month financial modeling
In-depth market analysis for your business
Collaborative formation of operational plans
Key role development
The Market is Strong for Starting a Medical Cannabis Business
The legal medical and adult-use cannabis industry is currently the fastest-growing business in the United States. If it continues to expand and reaches all 50 states, it could become even bigger than the organic foods market.
According to The Arcview Group, a research company focused on cannabis industry investment, the U.S. and Canadian market grew by an unprecedented 30% in 2016 to $6.7 billion and North American sales are projected to top $20.2 billion by 2021.
The stigma of this market is rapidly being replaced by legitimate research, medical breakthroughs, legislation supporting its sale and a growing market demand that has surpassed expectations. Ancillary businesses, governments and entrepreneurs are starting to see that the potential in this industry is just too vast to ignore.
As one of the most experienced and respected consulting firms specializing in cannabis, Canna Advisors provides realistic projections, in-depth market analysis and a solid course of action tailored to meet ongoing and future business needs.
The Cannabis Industry by the Numbers
- 2018 is expected to be a particularly big year for the cannabis industry as at least eight of the 11 states that passed medical or recreational cannabis will begin allowing dispensary sales.
- In 2018, one in five Americans will live in an area where cannabis is legal.
- As of fall of 2017, 29 states (and D.C.) have already legalized medical cannabis.
- A recent poll of clinicians by the New England Journal of Medicine showed 76% believe in the medical benefits of medical marijuana.
- 61% of Americans now support legalization and 85% favor medical use.
- Recreational cannabis spending is expected to outpace medical marijuana sales for the first time in 2019.
- Politicians from both parties currently support legal reform of marijuana laws.
- In the next 5 years, the earnings for legal cannabis are expected to exceed the film industry, organic foods, and more than triple NFL revenues.
Starting Your Own Cannabis Business
How do you know where to start? Here are answers to some commonly asked questions:
Q: What skills and personality traits work best for your potential employees?
A: Seek out individuals with experience in other industries that complement the abilities you need in the cannabis industry. We have been involved in the cannabis industry since 2003 and can help you build a strong team.
Q: Who should run the grow operations?
A: You may think you want an experienced cannabis grower. Surprisingly, you will be far better served by hiring someone who is a degreed horticulturist who already knows nursery operations and understands large scale production, not a home or small-scale grower.
Q: How will you complete your license application and make sure it’s successful the first time?
A: The application process is complex, lengthy, involves specific regulations and expertise—and it must be submitted in a timely fashion. Being the first in your market to win a license can truly make all the difference. If you don’t win a license with the initial application process, you may have to wait years to apply again.
Q: How do you comply with regulations and operate in such a controlled business environment?
A: You will benefit from the processes, operation manuals, inventory and security controls we’ve already mastered in our businesses. These best practices have been revised and refined over time and adhere to the strictest of regulations.
Canna Advisors is one of the most experienced and respected firms in the cannabis industry. We can assist you with your pro-forma financials, your cultivation requirements, regulated operational duties, hiring, etc. We have the answers you need and provide customized business plans with realistic projections.
You not only need to look great on paper, but you also need to be able to perform efficiently from the beginning of the application process to the eventual day-to-day functions of your cannabis business start-up.
We’ve helped businesses across the country more effectively manage their operations. Contact us to see how we can help you grow.
We will help you optimize your business plan and goals
Partner with our passionate group of cannabis professionals to develop a comprehensive business plan that will help startups get their business off the ground.