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The Nuts and Bolts of Getting into the Business of Cannabis
When thinking about the cannabis industry, most people don’t immediately consider the financial side of it.
The reality is that the legal marijuana business—medical and recreational—is a major industry in the United States, estimated at over $7.1 billion in total revenue for 2016. The ArcView Group, an investment firm with roots in the cannabis industry, estimates that gross sales could easily jump to over $10 billion annually within the next year. That is an almost unprecedented level of growth in any industry, to say nothing of the fact that “new industries” are harder to come by for those who want to get in on the ground floor. As a solid and reputable growth area, it’s still in its infancy, but cannabis has the potential to be an industry worth pursuing for budding entrepreneurs.
Investing in Cannabis Is Recession Proof
When times are hard, people still want certain things in life, certain little luxuries or privileges. As a result, the cannabis industry, like the liquor business, is relatively recession proof. And as the use of cannabis has become more socially acceptable, particularly in the area of medical marijuana, where the sanction of the medical profession allays the fears that some might have of the business, the demand has been growing steadily. It’s still an industry in its infancy, relatively speaking, which means that there is also tremendous opportunity for those who want to take risks in a new industry.
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