Cannabis has been a controversial topic for decades, but recently the conversation has shifted to what many experts see as an inevitable mainstream takeover. In fact, some experts predict that the cannabis industry will be worth more than $10 trillion by 2027.
The cannabis industry is growing and gaining mainstream attention. As states around the country legalize marijuana, businesses are branching out to capitalize on new markets and consumers who want safe access to their medicine. The most popular use case for blockchain right now is in payments, but with a limited number of players dominating each market, it can be difficult for newcomers to find traction against them. To succeed as an entrepreneur or investor in this nascent space requires innovation that goes beyond what you see from traditional business models like e-commerce or retailing.Cannabis has seen a surge in popularity, but with some challenges. Some of these include the risk for cannabis-related businesses to be shut down by regulators and potential risks associated with black market drug dealers. However, many mainstream companies are taking on these risks because they believe it’s worth it; one company is even investing $60 million into this industry!The “statistics of marijuana’s 2019” is an article that provides statistics on the cannabis industry. It talks about how mainstream businesses are high on the cannabis industry.
Cannabis growers in Northern California’s Emerald Triangle, the epicenter of marijuana production in the United States, are off the grid. However, AmeriGas, one of the country’s top propane gas distributors, willingly provides farmers with 1,000-gallon propane canisters to power their operations.
AmeriGas, whose parent firm UGI Corp. is publicly listed, is best known for supplying propane tanks for backyard barbecues. However, according to Caleb Boyer, a sales account manager at AmeriGas, sales to commercial cannabis farmers is one of the company’s fastest-growing categories.
Clark Associates, one of the leading food-service equipment wholesalers in the United States, sees potential in the legal marijuana market as well. Kevin Burg, a senior account manager for the $2.5 billion firm, says he now has four cannabis clients, but expects that number to quadruple in the coming months.
“I would never say that about any other business,” Burg continues, “but these people move quickly.”
According to Burg, the industry is wide open. Clark does not have to compete with other distributors or persuade cannabis firms to switch suppliers since cannabis companies do not have long-standing ties with equipment makers.
“They have a lot of money and are purchasing,” Burg adds. “There’s a plethora of possibilities.”
It might take three years from the moment a sales professional meets a firm to the time they want to be a client in fields like healthcare, which Clark is passionate about. In the cannabis industry, however, if a distributor can meet a company’s demands, they’re set to go. He describes the situation as “wide open and moving swiftly.”
Curaleaf was one of Clark’s earliest cannabis clients, according to Burg. Clark has a wide range of products, including food-safe steel tables, measuring cups, industrial walk-in refrigerated units, and even granulated sugar.
“We didn’t go out looking for this market; it found us,” Burg adds. “We began with a few of clients and decided to go all in and attempt to do well with it since it seemed like the direction the wind was blowing.”
The legal marijuana market is a burgeoning sector for Constantia Flexibles, an Austrian pharmaceutical packaging firm that creates blister packs for medications and child-resistant packaging. Cheeba Chews is a client, and the firm supplies child-resistant packaging for food companies, as well as packaging for THC vape cartridges and prerolled joints.
One of the fastest-growing sectors in the nation is cannabis. Legal sales totaled $17.5 billion last year. According to Cowen, yearly sales in the United States will exceed $100 billion by 2030. Cannabis has helped people make fortunes, and it has even helped some become billionaires. Although many major corporations, particularly those in banking and payment systems such as Visa, MasterCard, Square, and Shopify, are waiting on the sidelines, others perceive a developing industry that requires immediate assistance.
AccuBanker, a Miami-based family firm with a 40-year history, offers cash counters and counterfeit bill detectors to the likes of Taco Bell and Starbucks, as well as hotels like the Four Seasons and Hyatt Regency. Cannabis firms, on the other hand, are now a significant portion of the company’s bottom line. According to Oscar Cepero, the company’s CEO, marijuana customers accounted for just 1% of AccuBanker’s income last year, but that figure has already risen to 5% this year.
“We see opportunities here,” Cepero adds. “It’s gradually expanding; more people are coming to us.”
Cepero, whose aunt and uncle started the business after immigrating to the United States from Cuba, believes that federal legalization will result in customers using less cash, particularly if payment processors like Visa and MasterCard accept cannabis transactions, but that the marijuana industry, like the fast-food industry, will always be cash-intensive.
“There might be an influence, particularly because it’s federally controlled,” Cepero adds, “but people need to understand that this sector was based on cash, and a lot of people don’t know that millions of Americans don’t qualify for credit, so cash is their only option.”
The picks-and-shovels tactic has a long and illustrious history in the United States. Levi Strauss & Co., one of the most legendary American businesses, began in 1853 in San Francisco, when a Bavarian immigrant called Levi Strauss opened a dry goods wholesale company, supplying supplies to miners during the California Gold Rush.
Strauss created the first pair of denim blue jeans in 1873, and they became the company’s distinctive product after withstanding the rigors of gold mining. Levi’s jeans are now distributed in more than 50,000 retailers across the globe, and Strauss’ descendants own a billion-dollar fortune. Today, with the Green Rush in full force, businesses selling supplies and equipment are seeing a similar scenario.
Luxury goods and jewelry corporations such as Tiffany & Co., Cartier, and Louis Vuitton are among Worldwide Safe & Vault’s main clientele.
“Name a jewelry chain, and they’re a customer of ours,” says Scott Hirsch, the company’s creator.
Hirsch began receiving requests from cannabis growers seven years ago for high-composite burglary and fire-resistant safes in which to store bud and cash. He began to actively court cannabis firms searching for specialized vaults and safes after he understood the market was only going to become larger.
Hirsch, who launched the firm 31 years ago, believes it is the company’s fastest-growing segment. “It was rapidly becoming a significant market for us, and we needed to treat it seriously.”
Hirsch believes that federal legalization will benefit his company. Hirsch predicts that dispensaries and growers will be required to keep product in DEA-compliant safes, similar to how pharmacies are required to store Schedule II drugs like opioids in these safes.
“I don’t believe it’ll be the majority of our income,” Hirsch adds, “but it will be one of our strongest markets, particularly after it’s nationally legalized.” “You’ll need a safe if you want to operate a dispensary or cultivate.”
The “marijuanastocks.com reviews” is a website that provides information about the cannabis industry as well as stocks to invest in the industry. The site has been high on the mainstream business scene for a while now.
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