Summary of High Vibes Cannabis Lounge Business Plan (Essay Sample)

Business Plan Summary
Name
Affiliation
Course
Instructor
Due date
Business Plan Summary
Product Description
High Vibes Cannabis Lounge is a business that provides high-quality cannabis products. Some of the products that are available at our store in Kalamazoo include baked products and smoking products. Our products have been produced using local products. Our chefs and cannabis product producers are highly trained to ensure that the product is of high quality (Robert). We also offer online services where our customers can make pre-orders for takeaways. Our products are always fresh to ensure that our customers enjoy the goodness of eating and consuming our products. Our primary focus is to ensure that our customers have healthy lifestyles and their needs are satisfied. Many people in Kalamazoo have been focusing on consuming healthy cannabis products. Our goal is to ensure that the customers consume the best cannabis products without worrying about the side effects of below-standard products.
Target Market Description
The target market for High Vibes Cannabis Lounge consists of a specific group of consumers whose primary focus is marketing efforts to ensure safe and adequate consumption of cannabis products. Many consumers in the state of Michigan are willing to consume cannabis products in a secure environment which has made it necessary to come up with an analysis about the consumption of cannabis products. Some of the primary factors to be analyzed include demographics. Demographics is an important segment of ensuring that the consumers in the market have been identified (Roger, 2012).
Competition
Any business or company faces different levels of market competition depending on the type of product offered by the industry. Market competition is also dependent on the existing competitors. When it comes to cannabis products, there are few competitors. Since the legalization of marijuana in Michigan happened recently, it will be easier for the company to have significant command and a large market share. The low competition will make it easier for the company to develop strategies to use when dealing with the competition (Cravens, 2016).