This report provides a business case for the importance of Coastal Guardian Watchmen programs, and the report itself is housed in the Indigenous Guardians Toolkit website. Seven First Nations were included in the analysis, which concluded that at the low estimate, Coastal Guardian Watchmen programs achieve a 10 to 1 annual return investment. This factor, along with the other information included in the report, provides essential evidence for the social, economic, and environmental importance of Indigenous conservation initiatives. Key sections include Phase 3: Identify and Characterize Affected Values (pg. 23), Phase 6: Calculate the Overall Return on Investment (pg. 50), and Discussion and Conclusion (pg. 53).