Now that the end of marijuana prohibition is finally on the horizon, cannabis enthusiasts who have spent their careers existing in black markets are emerging from the shadows. The legal medical cannabis industry has been in full swing in states like California for years. Now, the people have spoken – and a legal recreational cannabis industry has emerged in states like Colorado.
Thriving niche cannabis markets featuring the all-American entrepreneurial spirit are popping up everywhere out west, creating many jobs in the process. Everyone knows about dispensaries, but there are lots of cannabis niche markets even enthusiasts and connoisseurs might not have thought about. Breeders, caregivers, budtenders, security guards, glass blowers, trimmers/ harvesters, bankers, paralegals, extraction machine manufacturers, vacuum sealed container manufacturers, fertilizers specialists, lighting specialists and even sticker printers for bottles and labels have now found lucrative, full time work in the thriving legal cannabis industry that is here to stay. We will be doing an ongoing report on high-reward legal cannabis industries. Please let us know in the comment section below if there’s any niche cannabis market we may have missed!
Legal cannabis has even made a huge impact on Wall Street. Blue chip investors are now putting their smart money behind legal cannabis companies and startups with huge potential. Since recreational sales began in Colorado and Washington last year, the number of publicly traded cannabis companies has grown from 13 to a whopping 300. Estimated sales of legal recreational cannabis marijuana was around $2.7 billion in 2014.
Many pot lovers worry, however, that widespread legalization will lead to big corporations flooding the market with cheap, low-quality marijuana and driving the artisans out of business. Like the craft brewers who are currently thriving in an industry dominated by big corporations, though, the real OG growers, business owners, caregivers and tenders aren’t concerned. At the end of the day, in legal states there is no shortage of cannabis connoisseurs who are happy to pay a premium for a superior product. This is likely to do nothing but increase. Increase profits for investors, increase satisfaction of personal consumption for users, and most importantly, increase ease of pain for pain sufferers and cannabis patients.
Was there a cannabis niche market that we may have missed in this article? Please, by all means, let us know in the comment section below! Stay tuned to the Med-RX blog for more info in our ongoing article series about Cannapreneurs!