As more and more states across America legalize the use of cannabis, more and more entrepreneur are considering a cannabis cultivation business plan. According to the National Conference of State Legislatures (NCSL), 23 states, and the District of Columbia, currently allow medical marijuana. In addition to complete legalization in Colorado, Oregon, Washington, and Alaska, 14 other additional states have decriminalized certain amounts of marijuana possession.
The need for businesses to supply this product grows as the legalization efforts continue.
Consider the following statistics:
- 52%) of Americans think cannabis should be legal.
- If all 50 states legalized cannabis today, they’d be collectively taking in more than $3 billion a year in taxes.
- 69% of Americans believe alcohol is more harmful to a person’s health than marijuana.
- 47% of Americans say they have tried marijuana at least once.
- 92% of patients say medicalAre You One of the marijuana works.
- As of 2012, the U.S. FDA was studying more than 20 cannabinoids to determine their medical use.
- In Colorado, the 2014 marijuana industry created an estimated 7,500-10,000 jobs for Americans.
As it becomes more and more evident that this country will decriminalize the use of marijuana, the smartest business people and investors are trying to figure out how they can profit from this new trend. Marijuana consultants offer a detailed cannabis cultivation business plan as well as information on how to start a medical marijuana business.
As researchers find more and more medical uses for this product, some very smart, and soon to be wealthy, business forecasters are trying to figure out how they can be a supplier of this much needed product. Even before the sale of cannabis becomes legal in a state, investors are researching the requirements for obtaining a cannabis business license so they are ready to start making profits as soon as possible.
According to the state Department of Revenue, in Colorado alone, sales of retail cannabis have garnered about $18.9 million in state taxes, a percentage of which goes to local governments, from January through June 30.This $18.9 million only represents the sales tax. The biggest winners are the smart business people who already had a cannabis cultivation business plan before the day the new legalization laws were passed. They were ready to have a product to sell to all of the new distributors.
Similar numbers are seen in other states where cannabis has been legalized. In the state of Washington, which opened the doors to recreational marijuana on July 9, the state expects to collect taxes of $3 million on sales of $12 million as of September 8. These retail, or adult-use marijuana, sales were again supplied by cannabis business resources who planned in advance to have the product that was in such high demand.
If you have been looking for a new investment opportunity, you might find that the cultivation of cannabis, combined with a solid business plan may be your ticket to success.