IV. Customer Analysis
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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.
|Target Population by Age Group|
|Target Population by Income|
|Income $50,000 to $74,999||11.16%||6.00%|
|Income $75,000 to $99,999||10.91%||4.41%|
|Income $100,000 to $124,999||9.07%||6.40%|
|Income $125,000 to $149,999||9.95%||8.02%|
|Income $150,000 to $199,999||12.20%||11.11%|
|Income $200,000 and Over||32.48%||54.99%|
The Company will primarily target the following three customer segments:
- 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.
- 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.
- 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.