Sample of Dispensary Business Plan in Tanzania 2021

If you want to start a Dispensary or expand your current Dispensary, you need a dispensary business plan in Tanzania.

The following Dispensary business plan template gives you the key elements to include in a winning Dispensary business plan.

Below are the key sections of your Dispensary business plan:
I. Executive Summary
II. Company Overview
III. Industry Analysis
IV. Customer Analysis
V. Competitive Analysis
VI. Marketing Plan
VII. Operations Plan
VIII. Management Team
IX. Financial Plan

I. Executive Summary

Business Overview

[Company name] is a cannabis dispensary in the [Location] area that offers high-quality and carefully curated medical and recreational products to its customers that will aid their specific needs and ailments. Putting the welfare and convenience of its customers first, [Company name] makes itself accessible by offering its products and services on site and online.

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In [Company name], customers are encouraged to ask questions and learn more about the medical and recreational benefits of cannabis. The company’s staff are experts in cannabis preparation and handling, and well-trained in patient care, thus giving its customers a great experience on their dispensary visits. Its team of researchers make sure that they are up to date with the latest studies and development in the cannabis industry to ensure the safety and welfare of its customers.

Products Served

[Company Name]’s produces products in the following forms:

  • Flower
  • Vape
  • Edibles
  • Accessories
  • Prerolls
  • Concentrates
  • Topicals

It also offers consultation for patients in need of a customized product for specific ailments and conditions.

Customer Focus

[Company Name] will primarily serve the residents who live within the city. The demographics of these customers are as follows:

  • 70,520 residents
  • 1,540 businesses
  • Average income of $52,320
  • 33.3% married
  • 60% in Mgt./Professional occupations
  • Median age: 37 years

Management Team

[Company Name] is led by [Founder’s Name] who has been in the alternative medicine industry for 15 years. While [Founder] has never started a dispensary business before, he has spent years of study and trials on the different cannabis products that he is now producing. He has completed a dispensary technician certification at the Cannabis Training Institute.

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Prior to focusing his efforts on cannabis development, [Founder] worked at a pharmacy for 5 years, making him knowledgeable in medical prescriptions. As such [Founder] is well-prepared to manage the dispensary.

Success Factors

[Company Name] is uniquely qualified to succeed for the following reasons:

  • There is currently no dispensary in the community we are entering.
  • We have determined that the demographics of our target location consists of adults who are legally allowed to use cannabis for medical and recreational purposes.
  • Our location is central to the downtown and easily accessible.
  • The management team has a track record of success in the alternative medicine industry.

Financial Highlights

[Company Name] is seeking a total funding of $270,000 to launch the dispensary. The capital will be used for funding capital expenditures, manpower costs, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Design/build: $200,000
  • Working capital: $70,000 to pay for Marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next three years are as follows:

 Year 1Year 2Year 3Year 4Year 5
Revenue$1,080,000$2,472,768$2,830,825$3,240,728$3,709,986
Total Expenses$962,000$1,539,107$1,719,742$1,901,321$2,112,641
EBITDA$118,000$933,661$1,111,082$1,339,407$1,597,344
Depreciation$25,600$25,600$25,600$25,600$25,600
EBIT$92,400$908,061$1,085,482$1,313,807$1,571,744
Interest$29,946$26,202$22,459$18,716$14,973
Pre Tax Income$62,455$881,858$1,063,023$1,295,091$1,556,772
Income Tax Expense$21,859$308,650$372,058$453,282$544,870
Net Income$40,595$573,208$690,965$841,809$1,011,902

II. Company Overview

 

Who is [Company Name]?

[Company name] is a cannabis dispensary in the [Location] area. It offers high-quality and carefully curated medical and recreational products to its customers that will aid their specific needs and ailments. Putting the welfare and convenience of its customers first, [Company name] makes itself accessible by offering its products and services on site and online.

It is the company’s goal is to become the most accessible, supportive and positive facility in the area. Customers are encouraged to ask questions and learn more about the medical and recreational benefits of cannabis. The company’s staff are experts in cannabis preparation and handling, and well-trained in patient care, thus giving its customers a great experience on their dispensary visits. Its team of researchers make sure that they are up to date with the latest studies and development in the cannabis industry to ensure the safety and welfare of its customers.

[Company Name]’s History

[Company name] is founded by [Founder’s name] in [yyyy]. A firm believer that regulated use of cannabis is beneficial and safe, he started growing and studying the different medical and recreational benefits of cannabis. After thousands of hours of research and testing, and after receiving great feedback on his sample products from his friends, colleagues and random volunteers, [Founder name] began to seek funding for his dispensary until he eventually opened it.

Since incorporation, the Company has achieved the following milestones:

  • Found site location and signed the land deed purchasing rights to the land.
  • Developed the company’s name, logo and website located at www…
  • Determined equipment leasing and financing requirements
  • Began recruiting key employees with experience in the wedding venue industry

[Company Name]’s Products/Services

[Company Name]’s produces products in the following forms:

  • Flower
  • Vape
  • Edibles
  • Accessories
  • Prerolls
  • Concentrates
  • Topicals

It also offers consultation for patients in need of a customized product for specific ailments and conditions.

III. Industry Analysis

The outlook for the Dispensary industry is overwhelmingly positive, with the industry expected to achieve record breaking revenues this year.

The industry will continue to benefit from increasingly favorable attitudes toward medical marijuana treatments, and the growth of legal recreational marijuana sales. Sales are expected to continue to explode, especially in the states that legalized recreational marijuana. This includes the industry’s largest market, California, which leads the country in cannabis expenditure.

In particular, an increase in per capita disposable income is projected to drive demand for industry products. Although medicinal products are essential for health and therefore less susceptible to fluctuations in consumer expenditure, the unconventional nature of the industry’s products still make them subject to changes in disposable income.

Nevertheless, since consumers pay for industry products out-of-pocket, growth in disposable income will help boost demand. Additionally, dispensaries will likely further expand their offerings of edible marijuana products, which will likely be a major growth segment for industry operators moving forward.

IV. Customer Analysis

Demographic Profile of Target Market

[Company Name] will serve the residents of [Insert location] and its immediate surrounding area. The market we serve is willing to spend money on recreational and medical products.

The precise demographics of the town in which our location resides is as follows:

The precise demographics of the town in which our location resides is as follows:

 GlendaleHighland
Total Population26,09710,725
Square Miles6.893.96
Population Density3,789.202,710.80
Population Male48.04%48.84%
Population Female51.96%51.16%
Target Population by Age Group
Age 18-243.68%3.52%
Age 25-345.22%4.50%
Age 35-4413.80%13.91%
Age 45-5418.09%18.22%
Target Population by Income
Income $50,000 to $74,99911.16%6.00%
Income $75,000 to $99,99910.91%4.41%
Income $100,000 to $124,9999.07%6.40%
Income $125,000 to $149,9999.95%8.02%
Income $150,000 to $199,99912.20%11.11%
Income $200,000 and Over32.48%54.99%

Customer Segmentation

The company targets the following customer segments:

  • Local residents: Approximately 70,000 people live in the area, 80% of which are over the age of 21.
  • Patients: This includes seniors and critically ill patients that need assistance to alleviate the pain that they are feeling.
  • Local office workers and young professionals: Approximately 5,000 individuals work in offices within a quarter mile of our location and we expect a fair portion of these individuals to frequent the establishment.

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