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<br /> Compliance-first approach minimizes legal and regulatory risks, ensuring a smooth and sustainable <br />operation. <br />Financial Projections: <br />Gross profits from product sales will be reinvested into the community through our governmental fund <br />transfers to the General and Park Improvement Funds. We anticipate strong sales growth, driven by the <br />increasing consumer preference for regulated cannabis and the added value of supporting community-focused <br />initiatives. The cannabis business financial feasibility study presented by Morem & Waller and Point Seven <br />LLC 2024 provided a template for staff to project the local market projections. Staff conservatively estimated <br />the local market share for the potential revenues and are confident in the 6-year forecast for market stability. <br />Conclusion: <br />This municipal cannabis retail operation not only promises to deliver a trustworthy, safe, and compliant <br />cannabis shopping experience, but also stand as a model for how the industry can contribute positively to the <br />community. With an unwavering focus on consumer safety, public trust, and reinvestment in local initiatives, <br />the city municipal operation will thrive financially while improving the well-being of the community. <br />Municipal Cannabis Timeline <br />January 2025 - March 2025: <br /> Advertise, interview, and hire a Cannabis Store Manager. <br /> Initiate store site selection, acquisition, and design with an architect. <br /> Onboarding training and municipal process orientation. <br /> Develop a cannabis division budget. <br /> Networking with suppliers. <br /> Conceptual branding and marketing strategy (elkrivercannabis.com). <br />April 2025 - June 2025: <br /> Obtain cannabis licensure. <br /> Establish store policies/procedures. <br /> Marketing plan development. <br /> Vendor partnership and product ordering. <br /> Store location: <br />A) Finalize store design and construction bidding process. <br />B) Short term lease agreement for retail space. <br />July 2025 - September 2025: <br /> Marketing launch and direct messaging/campaign. <br /> Store location: <br />A) Store construction. <br />B) Move into leased space. <br /> Advertise, interview, and hire a cannabis staff leveraging hemp-based THC and Northbound Liquor <br />for retail training environment. <br />October 2025 - December 2025: <br /> Complete store construction. <br /> Marketing grand opening campaign. <br /> Soft launch cannabis operations. <br />January 1, 2026: <br /> Store grand opening. <br />April 20, 2026: <br /> Store wide sale. <br />4 <br /> <br />