A Surprisingly Lucrative Industry
Cheech and Chong have been predicting the legality of marijuana for years. Maybe they were a little behind on the time-frame, but it’s finally happening. Marijuana is currently legal in eight states on a recreational basis, and in over half the country medically. That trend is only growing. Right now the entire west coast, including Alaska, has legal marijuana.
If you look at a map of states with legal provisions for Skunk Kush Regular Seeds, it usually outlines the country along the borders. The central states are taking a little longer to get on the bandwagon, but that’s likely going to change in the coming years. It’s not unfeasible to expect that marijuana will be legal on a national basis within the next decade.
Marijuana has many positive side-effects on a medicinal basis, and has a lot fewer negative side-effects than things like alcohol. Granted, it’s not good to use marijuana and operate heavy machinery; but doing as much under the influence of alcohol is even worse. Additionally, though alcohol can help as a pain anodyne, cannabis does the trick better.
These among other things are part and parcel to the success of this surprisingly lucrative cash crop in recent years. In Colorado alone, 2015, over $70 million in tax revenue was seen due to the recreational marijuana industry. Now there are eight states offering legal recreational marijuana. That’s a potential, at the same rate, for $560 million in tax revenue.
Beyond Tax Revenue
Now this doesn’t include the profit individual businesses selling this solution are privy to. This is just the tax the government takes off the top. No wonder this industry is exploding: it makes everybody money. Middle states will have to jump on the bandwagon soon; there’s just too much money involved to stay away.
Additionally, there are quite a few health benefits which are attributed to marijuana that put it in a class of substance that is beyond simple recreational enjoyment. From salves to pain anodynes to psychologically calming properties, there are more and more health benefits sourced to this amazing herb on a regular basis.
It’s very likely that the legalization of cannabis will eventually lead to a worldwide phenomenon with America acting as a legal provider for many countries over time. It’s hard to tell for sure what will happen in the future, but what can be seen in the now is the exceptional lucrativeness of this surprisingly versatile herb. Getting into this business isn’t always simple, though.
Getting Involved On The Business Side
According to the research, obtaining a cannabis business license requires you to do your homework: “Applying for, and obtaining, a license in your state is the first hurdle; and the stakes are high.” But if you can jump through the hoops, the rewards are exceptionally substantial.
With the potential for this industry to provide half a billion in tax revenue by the time recreational machines are in full flower, growth is definitely on the horizon. If fifty states average $70 million in tax revenue from marijuana on a yearly basis, that’s $3.5 billion. Should cannabis become legal nationwide, such numbers are not without the realm of reason.
When you consider additional industry earning potential for things like usage implements, merchandizing, marketing, and other areas where substantial portions of money are involved, those profits continue to skyrocket. But the way with regulations is increased complications over time. Maximized profit comes from getting involved before they come into play.
From tax revenue to health benefits to tourism, cannabis is changing the economic climate of the country. If you haven’t looked into it, now may be a great time to.