Can we talk about what is happening in the world of cannabis
right now? Already this year the state of Colorado has done over a billion
dollars in sales. Nevada ran out of weed last summer. Maine and Massachusetts
are about to open up the east coast market. The speed at which things in this
industry are materializing is incredible. Anyone who got into this business
early has already made enough money to retire, all this in less than a decade.
I think it’s safe to say that now is a good time to be an investor in this industry.
Ingenuity is ripe, the climate is such where countless people have the option
to start something none of us has ever seen before. Nobody was using vaporizer
cartridges filled with hash oil before 2010 until O-Pen Vape hit the market
hard with their brand. Now you can’t visit a single dispensary that doesn’t
have an option on their shelves. For people looking to make money and change
how the public views cannabis this is the time. The goal is to break beyond
stereotypes. Success in the cannabis world is also one of the major facets of
helping to normalize this lovely plant. Consider a cannabis company like Mary’s
Medicinals. They started as a small operation in Colorado producing transdermal
patches and ointments only to become the largest supplier in the state and one
of the most recognizable names in the industry. This company saw a need for
therapeutic options that people want, and they have since become innovators not
just in the Colorado cannabis industry, but the entire landscape.
After nearly eight years as something that is “kind of”
legal, cannabis is poised to leap into the mainstream in a big way next month
when California starts selling recreational weed. Cannabis entrepreneurs
continue to find a variety of new avenues. Cannabis tourism has barely
scratched the surface at this point, and it is one of the few places outside of
budtenders where the public gets to interact with and be educated. California’s upcoming legalization, and the east coast legalization, will
undoubtedly bolster the country’s bourgeoning marijuana-tourism industry, encouraging
people to visit from states where weed is still illegal. Edibles are
responsible for thirty percent of sales in dispensaries and infused products
offer some of the greatest opportunities for entrepreneurship in the cannabis
market. Why stop at snacks though? I would love to eventually experience a restaurant
cuisine where all my senses can be heightened. Clothing is another avenue. Hemp
clothing companies like Chieftain Supply based out of Denver, Colorado
represents the industry while being forward-thinking and style-setting. They
represent their customers and display creative expression. CannaBride and Love and Marij
offer marijuana themed weddings for couples looking to try something more in
line with who they are. Or what could potentially be the mother of them all, breweries
that offer cannabis infused beer.
This is all on top of the ancillary business that is
available out there. In this new and burgeoning cannabis industry, the
intelligence and the workforce that is needed is considerably lacking. Several
segments of the ancillary market are still largely underdeveloped. It would be
smart to position yourself strategically to aid the industry within the sectors
of real estate, management consulting, research and development, industrial equipment,
and green construction operations. This will provide the services required to
bolster the growth of cannabis businesses with the infusion of money. Additionally,
this is a way to enter the industry without ever actually touching the plants,
something that requires an abundance of licensing.
Entrepreneurs have such a vast opportunity right now.
Cannabis is responsible for one of the largest booms in Colorado tourism since
the invention of skiing so why not get on board? Like alcohol after prohibition
or the internet in the early nineties we are currently looking at the emergence
of a billion-dollar industry. Public opinion in support of legal cannabis has
never been stronger. While the future we dream of may be a long way away, this
intersection of technology and marijuana horticulture is gaining momentum.
There is no shortage of opportunities in this evolving cannabis industry. And
if you have any ideas, let me know, cuz I’m trying to retire early too.