Do You Know What It Takes to Run a Cannabis Business? Infographic via BusnessStudent.com!
Cannabis is legal in California and many other states. Some states allow for recreational purchases, others allow only for medicinal. Either way, the client/patient needs a place to buy the cannabis product. The issue surrounding where to find a place to purchase cannabis is all about the logistics of finding a storefront, licensing from cities or counties and also the ability to be able to handle banking. Businessstudent.com is our guest author for today on this topic which includes information and also an infographic.
Do You Know What It Takes to Run a Cannabis Business?
Infographic and Report
Now that marijuana for medical or recreational use is legal in 29 states – or more than half of the country – should investors and entrepreneurs invest in or launch a Cannabis business?
On one hand, it is a burgeoning industry that is hard to resist from a purely financial standpoint. The industry is expected to increase to $24 billion industry by 2025 and if the trend continues, the growth potential is unlimited. The business of Cannabis is now being embraced by some of the finest educational institutions. The University of Cambridge, one of the most prestigious business schools in the world, is teaching the first-ever “Seed to Sale” Cannabis Case Study.
But at the same time, there are different laws in different states and depending on what local and federal governments do, the Cannabis industry could change on a dime. Moreover, the competition is fierce with entrepreneurs and investors getting involved every day. It is “high” risk and “high” reward, but before launching a Cannabis business, it is important to know the latest trends and facts.
Here are a few facts about the opportunities and challenges:
State tax revenue combined expected to total $2.3 billion by 2020
97% of recreational stores and 94% of medical stores make a profit or break even.
Women executives in the industry is 27%; 4% higher than the national average
Denver boasts twice as many cannabis dispensaries as it does Starbucks.
In 2017, only 368 of 12,000 financial institutions in the U.S. served cannabis businesses.
On Jan. 4, 2018, Attorney General Jeff Sessions rescinded Obama-era memos that assured cannabis businesses they would not be subject to federal prosecution as long as they followed their state’s laws.
If you want more information, you can find it HERE: https://www.businessstudent.com/topics/business-of-cannabis
Thanks to BusinessStudent.com for providing all this very relevant information.
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