CBD 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.

Demographic Profile of Target Market

[Company Name] will serve the community residents of [company location] and its surrounding areas.

[Company Name] is a progressive community that overwhelmingly voted for the legalization of marijuana in their region. Therefore, this community is eager to buy CBD and hemp products from local businesses. The community primarily consists of middle-class workers who are in need of products that can help them relax after a long day of work.

Customer Segmentation

We will primarily target the following three customer segments:

  • Millennials: Millennials are the most eager to buy CBD and hemp products. In fact, some studies say that about half of millennials have tried CBD products at one point. Though the popularity of these products is rising among other generations, it is clear that millennials will make up a significant portion of our customer demographic. And with a median age of 38 years, it is clear that millennials make up a substantial portion of the population of [insert location here].
  • Young Adults: Gen Z is the second most likely generation to use hemp and CBD products frequently. Though much of the generation is still underage, those that have reached adulthood are likely to buy CBD products often. [insert location here] has a sizable population of young adults that will be eager to visit our shop.
  • People With Health Conditions: The greatest benefit of CBD is that it can help bring relief to people who live with chronic physical and mental health conditions. We will market our products as additional options to find relief in addition to their doctor-prescribed treatment. Since there are many hardworking residents in [insert location here], we expect many of them will be looking for natural remedies to their physical or emotional pain.
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