Being one of the fastest growing industries in the history of mankind is not easy. With so many states considering the legalization of marijuana it’s only a matter of time before the whole continent is growing OG Kush, Jack Herer, and Sour Diesel. Bringing in revenues of $6.7 billion in 2016 and an estimated 25% annual growth rate until at least 2021, business opportunities are endless in the states and abroad. But everything that grows has some pain, learning how to regulate the industry is definitely a work in progress.
Recently becoming a recreational state, Nevada is a prime example. Originally, only facilities with a liquor license were going to be able to sell products but this never took place due to not having enough participants. So, now they are in a predicament where the 47 licensed dispensaries are about to run out of weed.
Sounds like a success story when demand exceeds supply but it could have a negative effect on the industry there. The price of the product could be affected to curb demand and leave a bad taste in consumer’s mouths. It’s to early in the game to tell what the repercussions on the industry will be, but there are a number of things to figure out going forward. One thing almost everyone agrees on is that the Marijuana industry can be very lucrative for future generations.