SYMPHONY CANNA
BRANDS, LLC
A New Jersey
Company
Licensed Cannabis
Cultivation
& Manufacturing Business Plan
FUNDING:
$5,000,000
Disclaimers and
Disclosures:
This Business Plan contains proprietary information
about Symphony Canna Brands and
may not be reproduced, copied, disclosed, or utilized in any way in whole or in
part, without the prior written consent of Symphony Canna Brands.
This is a business
plan. It does not imply an offering of securities. These estimates are based on
our experience, together with our good faith estimates for the development of
the business based upon due diligence research and communication with
wholesalers.
This memorandum contains forward-looking statements that are based
on management's expectations, estimates, projections and assumptions. These
statements are not guarantees of future performance and involve certain risks
and uncertainties, which are difficult to predict. Therefore, actual future
results may vary.
Ó 2023
Table of Contents. 2
Symphony Canna Brands,
LLC.. 3
Executive Summary. 3
The Company. 3
Company Mission. 4
Background of Team.. 4
Jonathan (Avi),
Wertenteil – Chief Executive Officer 4
Bruce Cooper –Chief
Operating Officer 5
Ralph, Fucetola JD –
Chief Compliance Officer 5
Business Development 5
Location, Facility, and Production
Overview for Phase One. 6
Pro Forma Plans. 8
Business Start Up Cost 9
Overview
for Phase Two. 10
Market Analysis. 11
Resolution from City of
Bridgeton. 12
Letter of Support from
City of Bridgeton. 13
Approval for Cultivation
License. 14
Approval for
Manufacturing License. 15
Pro Forma Balance Sheet
New Jersey Annual Cultivation & MANUFACTURING LICENSE
Business Plan
Having legalized medicinal cannabis for use by registered
patients following legislative action in 2010, New Jersey is an older cannabis
market that saw the program’s implementation stall at its initial rollout and
in later licensing rounds. Since 2018, the state has witnessed exponential
growth in medicinal cannabis patient count and total sales, with total spending
for 2019 surpassing $107 million. In 2021 the state opened its doors to
the newly formed recreational market. Our team received Minimality approval and
submitted a full cultivation and manufacturing application to Cannabis
Regulatory Commission (CRC) in December 2021.
We aim to enter the market at the onset of adult-use
legalization, which is expected to generate over $1 billion in annual sales by
2024. Our business has thoroughly planned
and prepared for the challenges inherent in operating a cannabis cultivation
business, and we are thrilled to present this opportunity.
Symphony Canna Brands, LLC (Symphony Canna Brands) is a
New Jersey business founded by Jonathan (Avi) Wertenteil, Ralph Fucetola and Bruce
L. Cooper for the purpose of starting low-cost cannabis cultivation and
manufacturing in New Jersey. With a team of seasoned cannabis experts, we plan
to cultivate approximately 150,000 square feet of canopy area, along with a 10,000
Square feet processing, packaging, manufacturing, and distribution area. Our
plan is to utilize both the cultivation license and manufacturing licenses to
produce and distribute packaged products directly to retailers and delivery
services thought the state.
Symphony Canna Brands LLC was created to capitalize on
the new and growing opportunity presented by the adult-use cannabis
legalization and upcoming licensing round in New Jersey. Our goal is to secure
a significant market share of the target state of New Jersey with high-quality
cannabis products. Symphony Canna Brands was awarded both cultivation and
manufacturing licenses in June 2023. Due
to these factors, Symphony Canna Brands is well positioned and well equipped to
seize the opportunity presented in the New Jersey adult use cannabis Market. Due
to our existing relationships, retailers around the state are ready to accept
products from our production facility.
Our vision is to cultivate, manufacture and distribute the
best cannabis products to retailers and delivery services thought the state
while maintaining low costs. During our discussions with the local
municipality, we floated the idea of hiring inmates from the state prison near
our facility and have received positive feedback from the municipality (see
letter of support from Bridgeton) We also have an agreement to provide
on-the-job training for qualified former inmates from the Nehemiah Group (Local
Halfway House). Although there is a well-known cycle of individuals with a
criminal history that, when released from prison, experience challenges
reintegrating into society and often return to similar habits that lead to
future incarceration, we have decided to work with former inmates. On-the-job
training reminds inmates that they do have value in society and inspires them
to pursue a life that does not require them to break laws. Furthermore, there
are other nearby businesses in the industrial zone where our property is
located that utilize cheap labor by hiring inmates in their facilities.
Our growers and operators have decades of experience in
the medicinal cannabis sector, and they will utilize their knowledge and
expertise to assist Symphony Canna Brands in all aspects of its business. Our
growers and operators have worked on large scale cannabis projects in both
indoor and outdoor settings. We believe this is a unique advantage that
Symphony Canna Brands will have. Symphony Canna Brands will produce high
quality cannabis products and will enhance the cannabis ecosystem that New
Jersey is nurturing to a profitable, statewide industry.
Our Mission is to provide superior quality cannabis
products for the New Jersey recreational cannabis market. We intend to
cultivate with only organic ingredients and plan on using low-cost production
methods without compromising the quality of the cannabis.
Symphony Canna Brands has assembled a team of business leaders and
industry executives with ample experience and expertise to lead Symphony Canna
Brands to profitability in almost any scenario. Our business is led by Jonathan
(Avi) Wertenteil, Chief Executive Officer, Bruce Cooper, Chief Operating
Officer, and Ralph Fucetola, Chief Compliance Officer. Combining Bruce’s
leadership capabilities with Avi’s cannabis cultivation entrepreneurial
background and Ralph’s decades of legal experience, there is a strong
leadership foundation. In addition, Ralph’s three and a half decades of
pharmaceutical compliance experience will prove to be crucial in this very highly
regulated industry. Together, our leadership brings the experience and skills
required to be profitable in the cannabis space. The following is a detailed description of
everyone’s experience and skillset.
Avi brings substantial experience in the cannabis industry
as the founder of Red Hill Organics, a leading cannabis cultivation company in
California that cultivated over 88,000 square feet of canopy grow space
supplying licensed dispensaries throughout California. Avi received a
bachelor’s degree in business administration and is proficient in navigating
regulatory compliance and worked closely with the California department of food
and agriculture to ensure that all local and state regulations were satisfied.
Additionally, Avi served in an elite paratrooper’s unit in the Israeli Defense
Force for three years.
Bruce brings over 20 years of varied, in-depth experience as
a senior police officer in the New Jersey State Human Service Police as well as
a caseworker for the Camden County Board of Social Services. Bruce received a bachelor’s
degree in Management Science from Kean University and served as a U.S. Navy
Third Class Petty Officer on the USS Belknap CG-26. Inspired to serve his
community, Bruce was elected as both the Millville City Commissioner and a
Member of the School Board and is a John Maxwell-Certified Life Coach, Speaker,
and Trainer. Collectively, Bruce’s roles in the highly regulated industries of
law enforcement, social services, and the Navy have provided him with a
knowledgeable, informed perspective, which translates to a multitude of
relevant, transferable skills such as leadership, organization, project
management, critical thinking, government regulations, public safety and
security, and problem solving. Bruce is equipped with the requisite business
acumen to apply his knowledge, skills, and experience to the highly regulated
cannabis industry.
Ralph is a preeminent leader in several highly regulated
industries including nutrients, vitamins, alternative health, and cannabis.
Ralph is known by the moniker of the “Vitamin Lawyer,” given his status as a renowned
author and educator, with dozens of his articles published in numerous journals
and websites. Ralph received a bachelor’s degree with Distinction and a Juris
Doctor from Rutgers University. He operates a consulting practice specializing
in systems process integration claims; advertising and label review; consulting
with marketers, consumers, advocates, and local attorneys regarding regulatory
issues and petitions and litigation. Ralph carefully applies the business
acumen, knowledge, experience, and skills from his roles in the nutrients,
alternative health, and vitamins industries to provide a competitive edge as an
advisor to the management and application teams for the New Jersey medical and
adult use cannabis licenses. Ralph’s knowledge, skills, and experience provide
a well-rounded perspective of many of the central issues, variables, and facets
affecting the cannabis industry.
Business development is the heart of any successful
cannabis production, and we intend to implement detailed strategies to
facilitate development, including building a strong presence in the market,
achieving, and maintaining a positive cash flow, implementing a scalable
marketing strategy, and sustaining business growth over time. Achieving market
validation and building an initial distribution and customer base will be the
foundation of the business, from which we will expand to reach more and more
customers. The first challenge for our company will be to attract an initial
pool of customers, who will then spread the word about our brand as a result of
our extraordinary product quality and selection. We will also engage in
substantial marketing and advertising to the extent allowed by law, helping to
further develop our presence in the market and alert more licensed cannabis
businesses, especially distribution and dispensary businesses, to the existence
of our new cannabis cultivation facility. Additionally, as one of only a
handful of licensed cannabis businesses in New Jersey, we will essentially have
a captive market, as the state’s large customer base will be forced to choose
from only a small number of providers with whom they may lawfully do business.
As the business and its customer base expands, we will quickly achieve positive
cash flow, rapidly growing sales sufficient to generate a return on investment.
Finally, the business will sustain this growth by staying on the frontlines of
advancements in the industry, hiring and training quality employees, skilled
managers, and executives, and adapting to changes in the swiftly developing
market.
The location of the facility is on a 4.5-acre property in
an industrial zoned park in the city of Bridgeton in Cumberland County, New
Jersey. The property has an existing 13,000 square foot building that was
constructed three years ago and is in excellent condition. The address is 5
South Industrial Drive, Bridgeton, New Jersey.
In Phase One, our facility will have 4 indoor grow rooms
that total 3,000 square feet of indoor flowering canopy. Each room will be
harvested three times a year enabling us to stagger our harvests monthly
ensuring a constant supply. Additionally, we intend to build a 10,000 square
feet state of the art high tech greenhouses for low-cost year-round production
of low-cost cannabis flower.
In order to satisfy the demand for water, we plan to
install five 10,000-gallon water tanks. We will drill one or more
environmentally friendly wells on our property, as necessary, in order to
eliminate the use of municipal water. Instead of wasteful reverse osmosis water
cleaning systems, we will use high-powered filters that will achieve optimal
results for our purposes without producing excess wastewater. We plan to use
automated watering and fertigation systems such as Roots Talk and Dosatron that
will allow our facility to function more sustainably and predictably. We plan
on installing environmentally friendly LED lights such as Gavita.
Our indoor grow rooms will use a hydroponic system along
with a CO2 delivery system that will push air under the plants, increasing air
flow and decreasing stagnation that can foster contaminants. We intend to
follow standard industry practices and utilize dehumidifiers, carbon filters,
HVAC, and integrated controls to monitor the grow room environment and mitigate
odors.
Along with the 13,000 square foot cultivation canopy we plan
to build a state-of-the-art nursery to grow baby plants that can be transferred
to the flowering cultivation area. Additionally, we intend to build an
approximately 9,000 square foot manufacturing, processing, packaging, storage,
and distribution center where we will create specialty products such as
pre-rolls, infused pre-rolls, vapes, oils, topicals, infused foods, infused
drinks. All products will be packaged under our variety of in-house brands
which then be sold and distributed to retail outlets across the state.
Site Map of 5 South Industrial Drive
Bridgeton NJ
With proceeds from the operating business our team intends
on utilizing all 150,000 square feet of licensed cultivation canopy. An
additional 50,000 square feet of high-tech greenhouses will be installed on the
existing property. Additionally, we will expand to the property that we
acquired with initial startup funds in order to build 87,000 of outdoor
cultivation canopy, which be utilized for the creation of low-cost biomass for
specialty vape concentrates carts that will be sold by the gram. Below is an aerial image of 6 South
Industrial Drive where we intend to house the expansion.
Company Documents:
