When you have a reasonable financial forecast and budget for your cannabis business, then you actually know what you’re striving for and what you can expect by the end of your fiscal year.

With a proper forecast, you can benchmark your performance, manage your cash flow and cash on hand, and prepare for large swings in cannabis industry dynamics ahead of time.

In this video, we will walk you through:

• What is Budgeting & Forecasting?
• 3 Major Benefits of Forecasting
  • Benchmarking Performance
  • Better Cash Management
  • Ability to Prepare for Large Revenue Swings
• 8 Factors that can impact your forecasting including:
  • Seasonality
  • Tourism
  • Weather
  • Day of the week
  • Natural disasters
  • Marketing plans
  • Changes in cannabis taxes
  • Industry growth rate
• 4 ways you can improve your financial forecasting
  • Model Out Multiple Scenarios
  • Start with Expenses
  • Find Comparable Businesses
  • Always Update Your Model with NEW Information

If you need help with forecasting or budgeting for your cannabis business, then please reach out to us today.

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