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Worksheet Prepared on October 15, 2020
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This template has been prepared by OUR ACADEMY as an educational tool for entrepreneurs to help understand the basics around forming a budget.
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The templates included are examples of how a budget may be laid out for the first 12 months of your business. This is by no means a fully exhaustive list of items to include, but should help guide what areas must be consdiered when first compiling all of the costs associated with your business.
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Use this workbook as a starting point to begin tracking all of your cost estimates and understand what level of sales will be necessary to turn a profit. Don't forget to research taxes, as these can make or break a cannabis business and they are far higher in this industry than others. To download and edit it yourself >> FILE >> MAKE A COPY & YOU'RE ONE STEP CLOSER to making your dreams come true!
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A detailed 12 month budget will be absolutely essential when analyzing whether your business will be profitable, seeking investment capital, and understanding how much money is needed to start your venture.
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Remember that often times payment terms are anywhere from 30 to 90 day in cannabis. This means that you may not receive revenues until a few months after you have made a "sale". For this reason, always make sure you have a decent buffer of cash so you are not caught with bills to pay and an empty bank account.
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Blue Cells are inputs - they can have numbers entered into them.
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Black text cells are outputs - try not to change these as they include formulas.
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If you have any questions, you can direct them to high@thisisourdream.com
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