Medical marijuana was a promising first step for states like California, Oregon and Washington, that were smart enough to take a leap of faith and legalize medical cannabis in the late 1990’s. For residents of those states, it’s hard to believe that medical marijuana has been available for over a decade. The medical cannabis industry has experienced rapid growth in recent years and many say cannabis is the next gold rush. With Oregon, Washington, Alaska and Colorado now benefiting from legalized recreational marijuana and seeing billions of dollars in revenue, it’s clear that the industry is here to stay. With Colorado managing $3.5 million in medical sales tax and $2.5 million in recreational sales tax in January alone, the state is on pace to generate an astonishing $40 million in marijuana related sales tax by the year’s end.
Marijuana isn’t the only product selling off the shelves. The movement behind marijuana’s legalization has created several sub-industries, with some likely to become billion dollar industries themselves. It’s an exciting time for businesses and entrepreneurs that see marijuana as their gateway to success. Marijuana is sweeping the entire nation and young business owners are taking notice and not shying away from the opportunity. The venturebeat will offer the best opportunities for the boosting of the strengths. The business owners are taking the cbd products for the betterment in the performance. All the necessary things are considered for the consumption of oil. The purchasing of the products is there with the skills and intelligence of the patients.
Growing Marijuana
Medical marijuana dispensaries and recreational stores need somewhere to get their supply from. Most of the time, dispensaries will buy from medical marijuana users themselves. If you have a state issued medical marijuana card, you can grow however many plants your state permits. If you’re in close with a dispensary or two, it shouldn’t be too difficult to get the supply off your hands. Selling to recreational stores is a bit more challenging as each state has their own policies and regulates the growing process, but if you’re a determined entrepreneur, you may just find a way to make it happen. Growing marijuana can be incredibly lucrative and studies show it’s the most profitable plant on the market.
Selling Marijuana
Starting your own medical marijuana dispensary or recreational marijuana store is a gold mine for entrepreneurs. The medicinal and recreational markets are allowed to run simultaneously in most states. Whether you get into the medical marijuana industry or the recreational industry is up to you, but there’s money to be made in both.
Growing Hemp
With marijuana’s legalization on the rise, hemp is being decriminalized in most states. Obama recently approved a measure that will allow Colorado to grow hemp for research purposes, which will pave the way to legalized industrial hemp production in the United States. Experts say hemp is on its way and it’s only a matter of time before it’s the most successful crop for American farmers to get behind.
Medical Marijuana Evaluations
In order to receive a medical marijuana card in most states, you must be evaluated and given a medical cannabis recommendation by a doctor. Most doctors aren’t business owners themselves, so they work for businesses that schedule their appointments and direct customers to them. It’s call medical marijuana evaluations and it’s a lucrative industry of its own.
Selling Marijuana Paraphernalia
Pipes, bongs, rolling papers and health conscious paraphernalia is selling better than it ever has. Most smokers are concerned about the carcinogens and cancerous properties of their rolling papers. Many cannabis users smoke with emptied out cigarette and cigar papers. It’s unhealthy and there are businesses out there making a killing off paraphernalia that’s better for your lungs. Bongs, grinders and pipes are more profitable today than ever before as well.
Selling Marijuana Oil
Marijuana oils have proven to be effective for treating a number of different conditions. Children with epilepsy and seizure related disorders have seen substantial improvement after using marijuana oils to treat their condition. Oils that are high in CBD, one of the primary chemicals within marijuana, are selling very quickly. Further research is needed on marijuana oils to determine their role in overall health, such as serving as a daily anti-oxidant. However, once this data is conclusive, marijuana oils will become even more popular than they already are.
Hemp Products
Hemp is used to create clothing, lotions, oils, fuel and more. It’s going to become a major product in the future as more states decriminalize growing hemp. Specializing in high quality products that are made from hemp and selling them to consumers is a great way to make money.
Smokeless Products
Vaporizers and edibles are popular items among cannabis users that are looking for a smokeless alternative. Vaporizers are a much healthier way to use marijuana, as it’s not as harmful to your lungs. Vaporizers produce a vapor, rather than smoke. It’s about as dangerous as inhaling steam from a shower. Edibles are about as safe as it gets and dispensaries say edibles play a major role in their sales. Smokeless products are excellent ways to make money in 2014 and beyond.
Selling Grow Supplies
Medical marijuana laws have made it legal for patients to grow in some states. Washington allows their medical marijuana patients to grow as many as 15 plants in their home. Selling grow supplies will be highly profitable as more states introduce legalized growing. Hydroponics is one industry that could be particularly profitable. Hydroponic supplies such as hydroponic systems, grow tents, grow lights and nutrients will be in high demand in the future. States like Colorado have even introduced legalized growing at the recreational level.
