Are you about starting a CBD oil business? If YES, here is a detailed sample CBD oil extraction business plan template & feasibility report you can use for FREE.
The use of cannabidiol (CBD) oil has continued to soar in popularity. This popularity is associated with the health benefits that come with using cannabidiol (CBD) oil. It is no wonder that the market for cannabidiol (CBD) oil has continued to rise.
If you are considering starting a business in the united states of America, then one of your options should be a cannabidiol (CBD) oil extraction business. Severe pain reduction is one of the main reasons people use CBD. CBD reduces pain and inflammation and speeds up healing when muscles and joints have been exhausted. It can also be used to treat conditions like arthritis.
The fact that this line of business is not a very popular business idea means that you must be willing to undertake thorough feasibility studies and market research. It is indeed money – spinning business if it is well located and if you are able to create a robust distribution network. Please find below a sample cannabidiol (CBD) oil extraction business plan template that will help you to successfully write your own.
A Sample CBD Oil Extraction Business Plan Template
- Industry Overview
CBD stands for cannabidiol and it is made by extracting CBD from the cannabis plant, then diluting it with a carrier oil like coconut or hemp seed oil. It is the second most prevalent of the active ingredients of cannabis (marijuana). While CBD is an essential component of medical marijuana, it is derived directly from the hemp plant, which is a cousin of the marijuana plant.
While CBD is a component of marijuana (one of hundreds), by itself it does not cause a “high.” According to a report from the World Health Organization, “In humans, CBD exhibits no effects indicative of any abuse or dependence potential”.
The fact that cannabidiol (CBD) oil can be extracted from a cannabis plant, doesn’t mean that it has same ability to create a “high” or state of euphoria as marijuana or THC. Cannabidiol (CBD) oil may help you feel relaxed or less anxious, but you won’t get high if you choose to use a CBD-infused oil, tincture, edible, or other product.
Interestingly, cannabidiol (CBD) oil is readily obtainable in most parts of the United States, though its exact legal status is in flux. All 50 states have laws legalizing CBD with varying degrees of restriction, and while the federal government still considers CBD in the same class as marijuana, it doesn’t habitually enforce against it.
In December 2015, the FDA eased the regulatory requirements to allow researchers to conduct CBD trials. Currently, many people obtain CBD online without a medical cannabis license. The government’s position on CBD is confusing, and depends in part on whether the CBD comes from hemp or marijuana.
The legality of CBD is expected to change, as there is currently bipartisan consensus in Congress to make the hemp crop legal which would, for all intents and purposes, make CBD difficult to prohibit. Research shows that the United States cannabidiol (CBD) oil market size was treasured at USD 3.36 billion in 2015 and it is anticipated to witness a predictable growth rate of 9.0 percent from 2016 to 2024.
Going forward, the additional health profits of cannabidiol (CBD) oils are anticipated to trigger their demand in pharmaceutical and medical applications. These oils do not exhibit in any way any recognized main side effects unlike other conventional medicines and drugs; this will probably be a significant boosting factor for the market.
Please note that the barriers to entry in the cannabidiol (CBD) oil extraction business are moderate, with the most significant being the ability to secure permits and raise capital. Capital investments are needed to purchase machinery and equipment and purchase or rent facilities. While the amount of capital needed to enter the industry depends on the scale of operations an entrant is pursuing, even small – scale facilities require significant capital.
Other barriers include securing supply contracts with upstream suppliers of cannabis plants and other ingredients used to extract cannabidiol (CBD) oil and other industry goods. The well-entrenched position of the leading processors in the industry can also represent a barrier to entry for prospective entrants.
The cannabidiol (CBD) oil extraction line of business is a profitable industry and it is open for any aspiring entrepreneur that has the capacity to compete with other players for the available market in the industry.
Table of Content
- CBD Oil Extraction Business Plan – Executive Summary
- CBD Oil Extraction Business Plan – SWOT Analysis
- CBD Oil Extraction Business Plan – MARKET ANALYSIS
- CBD Oil Extraction Business Plan – SALES AND MARKETING STRATEGY
- CBD Oil Extraction Business Plan – Publicity and Advertising Strategy
- CBD Oil Extraction Business Plan – Sustainability and Expansion Strategy
CBD Oil Extraction Business Plan – Executive Summary
Don Barros™ CDB Oil Extraction Company, Inc. is a licensed cannabidiol (CBD) oil extraction and packaging company that will be located in between an industrial area and a farming community in Missoula – Montana. We have been able to secure a long – term lease for a facility in a strategic location with an option of a long – term renewal on an agreed terms and conditions that are favorable to us.
The facility has government approval for the kind of business we want to run and it is easily accessible and we are deliberate about that to facilitate easy movement of raw materials.
We are in the cannabidiol (CBD) oil extraction business to produce a wide variety of cannabidiol (CBD) oil extracted from different types of cannabis plants in commercial quantities for retail outlets, dispensaries and body therapy businesses et al. We are also in business to make profits at the same to give our customers value for their money.
We are aware that there are several cannabidiol (CBD) oil extraction companies scattered all around the United States whose products can be found all over the country, which is why we spent time and resources to conduct our feasibility studies and market survey so as to locate the business in an area that will support the growth of the business. We ensured that our facility is easy to locate and we have mapped out plans to develop a wide distribution network for wholesalers.
Don Barros™ CDB Oil Extraction Company, Inc. will ensure that all our customers (wholesale distributors) are given first class treatment whenever they visit our Depot / Plant. We have a CRM software that will enable us manage a one on one relationship with our customers (wholesale distributors) no matter how large they may grow to.
Don Barros™ CDB Oil Extraction Company, Inc. is family business that is owned and financed by Don Barros and his immediate family members. This Missoula native graduated from high school in same town. Formerly, Don Barros was Brand Manager at Proctor & Gamble, and also worked at Bain & Company prior to starting Don Barros™ CDB Oil Extraction Company, Inc.
He has a robust experience that stretches over 13 years and he holds a Bachelor of Science Degree in Biochemistry from the University of California, Davis and MBA from the University of Chicago Booth School of Business.
- Our Product Offering
Don Barros™ CDB Oil Extraction Company, Inc. is going to operate a standard cannabidiol (CBD) oil extraction and packaging company whose product will not only be sold in Missoula – Montana but also throughout the United States of America and other countries of the world.
We are in the industry to make profits and also to give our customers value for their money and we are going to do all that is permitted by the law of the United States of America to achieve our corporate goals. We will be engaged in the extraction and sale of a wide range of cannabidiol (CBD) oil
- Our Vision Statement
We want to build a cannabidiol (CBD) oil extraction business whose brands will someday become a household name not only in the United States of America but also in Canada.
- Our Mission Statement
Our mission is to build a standard and world class Cannabidiol (CBD) oil extraction and packaging company that in our own capacity will favorably compete with leaders in the industry on a global scale.
- Our Business Structure
Don Barros™ CDB Oil Extraction Company, Inc. is established with the aim of competing favorably with other leading cannabidiol (CBD) oil brands in the industry. We will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.
We will make sure that we only employ people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Plant Manager
- Human Resources and Admin Manager
- Cannabidiol (CBD) Oil Extraction Machine Operators
- Sales and Marketing Manager
- Accountants / Cashiers
Roles and Responsibilities
Chief Executive Officer – CEO (Owner):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for overseeing the smooth running of the cannabidiol (CBD) oil extraction plant
- Part of the team that determines the quantity of cannabidiol (CBD) oil that are to be produced
- Maps out strategy that will lead to efficiency amongst workers in the plant
- Responsible for training, evaluation and assessment of plant workers
- Ensures the steady flow of both raw materials and finished products in and out of the factory
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that the plant meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily office and factory activities.
Cannabidiol (CBD) Oil Extraction Machine Operators
- In charge of operating machines that are used in extraction of cannabidiol (CBD) oil by distillation, often by using steam.
- Handle other processes include expression, solvent extraction, absolute oil extraction, resin tapping, wax embedding, and cold pressing.
- Responsible for taking care of the machines and equipment in the production plant
- Handles any other duty as assigned by the production manager.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the store manager in an effective and timely manner
- Consistently stays abreast of any new information on Don Barros™ CDB Oil Extraction Company, Inc. products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Distribution Truck Drivers
- Assists in loading and unloading cannabidiol (CBD) oil meant for distribution.
- Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment
- Assists the transport and logistics manager in planning their route according to a delivery schedule.
- Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
- Collects and verifies delivery instructions
- Reports defects, accidents or violations
CBD Oil Extraction Business Plan – SWOT Analysis
If you live in the United States of America, you will agree that products from cannabidiol (CBD) oil extraction companies from South America and the Caribbean can be seen in stores in the United States of America, which is why we are following the due process of establishing a business.
We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.
Don Barros™ CDB Oil Extraction Company, Inc. employed the services of an expert HR and Business Analyst with bias in startup business to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Don Barros™ CDB Oil Extraction Company, Inc.;
Part of what is going to count as our strength is the vast experience of our management team, we have people on board who are highly experienced on how to grow a Green business from the scratch to becoming a national phenomenon.
So also, our large national distribution network and of course our excellent customer service culture will definitely position our company to compete with other top-flight cannabidiol (CBD) oil extraction companies within and outside the United States of America.
The inability to initially leverage on economies of scale may count against us since we are a new cannabidiol (CBD) oil extraction and packaging company. In addition, we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business.
The opportunities for cannabidiol (CBD) oil extraction companies are enormous. This is due to the fact that studies have shown that CBD may help reduce chronic pain by impacting endocannabinoid receptor activity, reducing inflammation and interacting with neurotransmitters.
As a result of that, we were able to conduct a thorough market survey and feasibility studies so as to position our business to take advantage of the existing market for cannabidiol (CBD) oil and also to create our own new market. We know that it is going to require hard work, and we are determined to achieve it.
Top on the list of some of the threats that will confront our business is state regulations for cannabis/marijuana related products. Bad press may also pose a threat to the business as well.
CBD Oil Extraction Business Plan – MARKET ANALYSIS
- Market Trends
No doubt, investors and entrepreneurs are beginning to establish businesses in the value chain of cannabidiol (CBD) oil because its health benefits are anticipated to trigger their demand in pharmaceutical and medical applications. Good enough, studies show that these oils do not exhibit any recognized side effects unlike other conventional medicines and drugs; this will probably be a significant boosting factor for the market.
Another notable trend in this business is that more players in the body pain killer drugs manufacturing industry are beginning to increase their demand for cannabidiol (CBD) oil as part of their raw materials because of the effect it adds to their product.
As a matter of fact, cannabidiol (CBD) oil is gaining more ground as part of the materials used in the production of perfumes, cosmetics, soaps and other products, for flavoring food and drink, and for adding scents to incense and household cleaning products amongst others.
Lastly, the price of cannabis plant is typically the most reliable driver of industry performance. It is important to state the part of what affects productivity output in this industry is the fact that cannabis farming is vulnerable to unpredictable weather conditions, and the demand for high-quality cannabidiol (CBD) oil in key foreign markets will boost exports.
- Our Target Market
Cannabidiol (CBD) oil is one of many products that is used all around the globe for different purposes, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people or organization.
In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to engage in the extraction of cannabidiol (CBD) oil and wholesale distribution of cannabidiol (CBD) oil to the following groups of organizations;
- Pharmaceutical companies
- Alternative medicine practitioners that use cannabidiol (CBD) oil for pain relief
- Cannabidiol (CBD) oil merchants
- Small scale businesses that make use of cannabidiol (CBD) oil as part of their raw material.
There is hardly any business that does not come with its own fair share of competitions hence we are prepared to compete favorably with other cannabidiol (CBD) oil extraction companies in Missoula – Montana and throughout the United States.
Top on the list of the competitive advantages that we are bringing to the industry are our business location, robust relationship with cannabis plant farmers, ability to alter goods and services produced in favor of market conditions and appropriate climatic conditions.
Part of what is going to count as competitive advantage for Don Barros™ CDB Oil Extraction Company, Inc. is the vast experience of our management team, we have people on board who understand how to grow business from the scratch to becoming a national phenomenon. So also, our large national distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.
Last of all, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
CBD Oil Extraction Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Don Barros™ CDB Oil Extraction Company, Inc. is established with the aim of maximizing profits in the cannabidiol (CBD) oil extraction line of business in both the United States of America and Canada and we are going to go all the way to ensure that we do all it takes to sell our cannabidiol (CBD) oil to a wide range of customers. Don Barros™ CDB Oil Extraction Company, Inc. will generate income by simply selling;
- Cannabidiol (CBD) oil
When it comes to cannabidiol (CBD) oil extraction business, if your cannabidiol (CBD) oil is well – packaged and branded and if your production plant is centrally positioned and easily accessible, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the available market in Missoula – Montana and every city where our cannabidiol (CBD) oil will be sold and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.
We have been able to examine the cannabidiol (CBD) oil extraction business, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
Below are the sales projection for Don Barros™ CDB Oil Extraction Company, Inc., it is based on the location of our business and other factors as it relates to small and medium scale cannabidiol (CBD) oil extraction and packaging start-ups in the United States;
- First Fiscal Year (FY1): $240,000
- Second Fiscal Year (FY2): $580,000
- Third Fiscal Year (FY3): $870,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same product and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Prior to choosing a location for Don Barros™ CDB Oil Extraction Company, Inc. we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market in our target market location.
We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time and also for our cannabidiol (CBD) oil to favorable compete with other leading brands in the United States of America.
We hired experts who have good understanding of the cannabidiol (CBD) oil extraction business to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Missoula – Montana and other cities in the United States of America
In summary, Don Barros™ CDB Oil Extraction Company, Inc. will adopt the following sales and marketing approach to sell our cannabidiol (CBD) oil;
- Introduce our cannabidiol (CBD) oil brand by sending introductory letters to manufacturing companies that make use of cannabidiol (CBD) oil, households, alternative medicine practitioners that make use of cannabidiol (CBD) oil, cannabidiol (CBD) oil merchants and other stakeholders in Missoula – Montana and other cities both in the United States of America and Canada
- Advertise our products in community – based newspapers, local TV and radio stations
- List our business and products on yellow pages ads (local directories)
- Leverage on the internet to promote our cannabidiol (CBD) oil brands
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
CBD Oil Extraction Business Plan – Publicity and Advertising Strategy
Notwithstanding the fact that our cannabidiol (CBD) oil extraction plant is a standard one with a wide range of products that can favorably compete with other leading brands, we will still go ahead to intensify publicity for all our products and brand.
Don Barros™ CDB Oil Extraction Company, Inc. has a long – term plan of distributing our cannabidiol (CBD) oil in various locations all around the United States of America and Canada which is why we will deliberately build our brand to be well accepted in Missoula – Montana before venturing out.
Here are the platforms we intend leveraging on to promote and advertise Don Barros™ CDB Oil Extraction Company, Inc.;
- Place adverts on both print (community – based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our cannabidiol (CBD) oil brand
- Install our billboards in strategic locations all around major cities in the United States of America
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our products.
- Ensure that our cannabidiol (CBD) oil is well branded and that all our staff members wear our customized clothes, and all our official cars and distribution vans are customized and well branded.
Our Pricing Strategy
We are aware of the pricing trend in the cannabidiol (CBD) oil extraction line of business which is why we have decided to produce various sizes of cannabidiol (CBD) oil.
In view of that, our prices will conform to what is obtainable in the cannabidiol (CBD) oil extraction line of business but will ensure that within the first 6 to 12 months our products are sold a little bit below the average price in the market. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our cannabidiol (CBD) oil brands.
- Payment Options
The payment policy adopted by Don Barros™ CDB Oil Extraction Company, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Don Barros™ CDB Oil Extraction Company, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for product purchase without any stress on their part.
- Startup Expenditure (Budget)
Starting a standard cannabidiol (CBD) oil extraction and packaging company is indeed a capital-intensive business. This is because the amount required to set up an extraction plant is relatively on the high side when compared to similar businesses.
The bulk of the startup capital will be sent on leasing or acquiring a facility and also in purchasing cannabidiol (CBD) oil extracting and processing machines. These are the key areas where we will spend our startup capital;
- The total fee for registering the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Don Barros™ CDB Oil Extraction Company, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- The total cost for hiring Business Consultant – $2,500.
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The total cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $115,300.
- The total cost for construction of a standard cannabidiol (CBD) oil extraction plant – $100,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for Start-up inventory (raw materials, drums, bottles and packaging materials et al) – $80,000
- The total cost for the purchase of cannabidiol (CBD) oil extracting and packaging equipment – $100,000
- The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The total cost of purchase of distribution vans – $100,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, Fax Machines, tables and chairs et al) – $4,000.
- The cost of launching a website – $600
- Miscellaneous – $10,000
We would need an estimate of $500,000 to successfully set up a standard and world class cannabidiol (CBD) oil extraction plant in Missoula – Montana.
Generating Funds/Startup Capital for Don Barros™ CDB Oil Extraction Company, Inc.
Don Barros™ CDB Oil Extraction Company, Inc. is a family business that is owned and financed by Don Barros and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.
- Generate part of the startup capital from personal savings and sell of stocks
- Source for soft loans from family members and friends
- Apply for loan from the bank
N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
CBD Oil Extraction Business Plan – Sustainability and Expansion Strategy
Part of the plans we have in place to sustain Don Barros™ CDB Oil Extraction Company, Inc. is to ensure that we continue to deliver quality products and services, improvise on how to do things faster and cheaper. We are not going to relent in providing conducive environment for our workers and also the required trainings that will help them deliver excellent services at all times.
From our findings, another factor that kills new business is financial leakages. In order to plug financial leakages, the management of Don Barros™ CDB Oil Extraction Company, Inc. use payment machines and accounting software to run the business.
We are quite aware that our customers are key component to the growth and survival of our business hence we are going to continuously engage them to give us ideas on how to serve them better. We will not waste time in adopting new technology, best practices and diversifying our services; expand our product and service offerings once the need arises.
Our key sustainability and expansion strategy as a business is to ensure that we only hire competent and technically sound employees and create a conducive working environment for all our staff.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and construction of standard cannabidiol (CBD) oil extraction and processing plant: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members and friends: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Packaging/Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress.