Cannabis Cultivation Business Plan Template [Updated 2024]

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IV. Customer Analysis


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Profile of Target Market

[Company Name] will initially serve dispensaries in [company location] and the immediately surrounding areas, with plans to expand statewide.

The area we serve has licensed a larger than average number of dispensaries, and we are centrally located and ideally situated to serve the entire area.

WilmetteWinnetka
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 will primarily target the following three customer segments:

  1. Medical provisioning centers: Medical provisioning centers are expected to command 40% of the cannabis market. [Company name] will work with these centers to grow the strains that best meet the needs of their patients.
  1. Recreational dispensaries: Recreational dispensaries account for 39.9% of the cannabis market. Recreational customers typically prefer high THC strains, so [Company name] will be sure to always have at least one such strain in its lineup.
  1. Manufacturers: Many cannabis cultivators also manufacture cannabis products such as tinctures and cannabis infused edibles. [Company name] intends to focus solely on cultivation, and expects manufacturers to represent a significant demand.
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