5 Industries Changing Thanks to Cannabis
The cannabis industry is creating a green rush after recreational marijuana passed in places like Massachusetts and California.
Talk surrounding the logistics of Cannabis legalization will be a popular topic in months and years to come. Thanks to advancements in science and medicine, marijuana isn’t as much of a taboo subject anymore.
In the 2016 United States election, nine states voted for judicial amendment for Cannabis. Five out of nine states successfully voted for legalisation of recreational marijuana, whereas 3 states won the rights for medicinal marijuana. This is following suit from countries such as Canada or Mexico who plan to fully legalise the substance for their entire country. With this in mind, there are plenty of other variables to consider. One such variable is the economic standpoint marijuana brings.
With its legalisation, markets which were once unavailable now have a chance to thrive.
Here’s a list of 5 industries susceptible to change in terms with new Cannabis legislation:
Marijuana plants are somewhat different from regular crops; the same principles apply. Only on a much larger scale. Produce, for many countries, is transported. However, Marijuana production would most likely be different. It doesn’t make sense to import cannabis when there are many ‘farmers’ willing to pick up the work. This is a boost in economy for those wanting to capitalize on the agricultural production of Cannabis. These ‘legal growers’ already make a killing selling Marijuana to legal dispensaries. According to Marijuana Business News, one can make a 100,000 dollar profit per year off a ten by ten foot room. So imagine the yield one could create in a conservatory.
The marijuana industry, when legalized, will dominate the consumer goods industry just like alcohol and tobacco does. Which means its capitalisation will be quite profitable. Just as an agricultural sector is needed for cannabis production so is the business sector.
“The greatest opportunity for normalization of cannabis consumption is to raise the standard of branding, marketing, and communications in the cannabis industry,” Krista Whitley said in Entrepreneur Magazine.
Major marijuana distributors already exist and have proven going public and selling their stocks is not only possible but very profitable, as well. All the same, companies such as GW Pharmaceuticals, Canopy Growth, and Insys Therapeutics are worth millions if not billions in stocks.
This is sure to lure other investors eager to flip a coin once the market becomes more well known.
Small businesses, such as dispensaries, are also probable market ventures once Marijuana is legal. The legal cannabis industry has become more popular and access has become easier that ever before in the plant’s long history. It is reasonable to assume dispensaries will be just as profitable, if not more, as its alcoholic counterpart.
New studies comes out everyday regarding Marijuana, its effects, and it if can be an effective replacement for certain pharmaceutical medications. Many doctors are coming on board despite the media’s implications to destroy the Cannabis communities reputation. Nonetheless, the new age of medical Marijuana will change the medical field. In addition, certain medicines such as CBD oils, will be available for sale.
This may seem like an unlikely industry to be affected by Marijuana’s legalisation.However, Hollywood finds a way to capitalise on anything. Not to mention it’s location is in sunny Los Angeles aka America’s Marijuana capital. Don’t believe us? Just take a look at shows such as MTV’s Mary + Jane, HBO’s High Maintenance, and NBC’s soon-to-be reality show Buds – all examples of Hollywood’s capitalisation on ‘stoner culture’. Not that we’re complaining if we get a few laughs!