Why Legal Cannabis Is 2017’s Best Startup Opportunity?

Legal cannabis business 2017

There is much to suggest that legal cannabis may be 2017’s best start-up opportunity. With the level of legalization, we are seeing the explosion of an entirely new sector of marijuana business and industry. Though many are starting up cannabis businesses it is fair to say that the market is pretty much untapped. And it is quite a large market. Researchers estimate the cannabis market to be in the region of $50 billion, of which most is made up of black market sales. All this money is going to come around to legitimate start-ups when cannabis becomes legalized. There will simply be no money to be made for black market dealers when cannabis is legal. And this is good for society and good for the economy.

Why 2017?

The main reason as to why cannabis is a winner in 2017 is awareness. There is little stopping global recreational marijuana legalization now. The stigma has been removed. Canada made the decision to become the first large industrial nation to legalize recreational marijuana. Recreational marijuana is currently legal in 8 states in the USA. California decided in November 2016 to legalize recreational marijuana. People are beginning to question why it should be illegal. More and more people are using cannabis than ever before and not being shy about it. This will start a snowball effect as more people smoke the product without fear of prejudice. |
The legalization of recreational marijuana in California is a massive boost to the cannabis industry. Current estimates are that marijuana sales in California are going to be in the region of $5 billion, far more than either Washington or Colorado or any other state where recreational marijuana is legal. As more states legalize marijuana the industry is going to go up and up and up. It is best to invest now and construct the infrastructure before waiting until it is too late. Many entrepreneurs are doing just this.

Another reason why legal marijuana is a spectacular investment opportunity is the fact that it is completely new. With new growth comes new opportunities. Like the cryptocurrency industry, the cannabis industry is only going in one direction. There are going to be many millionaires made from the growth of this new industry. There is very little in the way of legislation at present and few guidelines. This can be a double-edged sword, as it is the brand new territory. You might find it easier to make a profit due to lack of clarity and regulations or you might end up on the wrong side of a jail cell. Every opportunity for growth comes with risks.

Be Careful

Just because you happen to be in a good industry does not mean you are automatically going to make money, though it does make it easier. Many are saying that there is already a glut of excess marijuana in California before the recreational marijuana law has even come into effect. This will mean that lots of cultivators and suppliers lose a lot of money. It is always up to the entrepreneur to do his or her own research.

It is also worth noting that in some states legalization has done little to actually increase the consumption of marijuana. When Oregon legalized recreational marijuana, there were no significant increases in consumption among a number of groups.

There are also the typical risks associated with starting up any business. There are rules and regulations to be complied with, taxes to be filed and you must register with certain authorities before starting any cannabis related venture. It is up to you to know the laws of the state and the rules of your local county, as these do vary wildly.
And then there is the obvious fact that marijuana is still an illegal drug at the federal level. Which means that the government could crack down on the whole industry at a moment’s notice. This is unlikely yet entirely possible. Federal prohibition creates significant prohibition in relation to banking and finance, as banks are wary of doing business with what they can rightly view as illicit marijuana activity. Saying this there are certain rules and procedures which banks can follow to avoid any penalties, though most simply elect to avoid doing the business of any kind with marijuana companies. Go online buy medical marijuana and make sure to get a quality marijuana delivery service. Making money in the marijuana industry might be a little more difficult than it seems.

Only the Best

There can be no doubt that cannabis in 2017 is an excellent start-up opportunity. The appetite of the market is huge. However, this is not a free for all and there is going to be stiff competition. Additionally, whether your business is going to be successful or not largely depends on the state you are residing in. The rules vary quite a lot and there some are far more severe in terms of marijuana regulation and distribution than other. Money is going to be made, but as always only for the best, brightest and most efficient services. As it stands, money is up for grabs but only for the best of the best.

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