Edibles Business Plan Template [Updated 2024]

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I. Executive Summary

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

Business Overview

[Company Name] is a new edibles shop located in the heart of [location]. Our shop provides a wide variety of edible products that will appeal to a large demographic, including gummies, baked goods, and chocolates. In addition to selling handcrafted edible products that we make in our store, we aim to provide the best customer service in the industry and create a welcoming environment for everyone interested in our products. Whether someone is trying edibles for the first time or is coming back for their favorite product, we guarantee that they will leave the shop satisfied.

Products Served

[Company Name] provides a large inventory of edibles that will appeal to a wide customer base. All products are made from scratch in our shop and sold on our shelves or online. Some of our products include:

  • Gummies
  • Hard candies
  • Baked goods
  • Chocolate
  • Mints
  • Fruit chews

Customer Focus

[Company Name] will primarily serve residents who live within a 5-mile radius of the store. The demographics of these customers are as follows:

  • 73,249 residents
  • Average income of $54,000
  • 21% married
  • Median age of 35 years

We will also sell our products online to people who live outside of [location]. The only customers that will not be able to purchase our products are individuals who live in areas where edibles are illegal or restricted.

Management Team

[Company Name] is led by [Founder’s Name], who has been in the edibles business for [X] years. Before starting [Company Name], he worked at several edibles and cannabis shops, spending most of that time in management positions. As such, [Founder’s Name] has an in-depth knowledge of the edibles/cannabis business, including the operations (e.g., running day-to-day operations) and management (e.g., staffing, marketing, etc.) sides of the industry. He also has in-depth knowledge of edibles recipes and what ingredients make for high-quality edible products.

Success Factors

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

  • There are currently very few stores that sell edibles in [location], meaning there is little competition.
  • Our location is in a high-volume traffic area and thus will be highly convenient to a significant number of passersby each day.
  • [Company Name] makes its own line of edible products for customers to enjoy.
  • The management team has a track record of success in the edibles business.
  • With more relaxed state and local laws, edibles are increasing in popularity and demand.
  • The residents of [location] overwhelmingly support the use of edibles and similar products, meaning we have a large demographic that will potentially patronize our business.

Financial Highlights

[Company Name] is currently seeking $420,000 to launch. Specifically, these funds will be used as follows:

  • Store design/build: $200,000
  • Equipment: $50,000
  • Initial inventory and supplies: $50,000
  • Working capital: $120,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

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

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%
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