I remember a time when people were constantly debating at get-togethers about the legalization of marijuana. Who would have known that it was going to be the fastest-growing industry in the USA? At present, the U.S. market for legal cannabis is a whopping $2.7 billion. This is a crazy 74 percent growth from last year’s $1.5 billion!
At present, twenty one states plus the U.S. capital allow medical marijuana. Two states, Washington and Colorado, have decriminalized marijuana for recreational use. A total of fifteen states allow medical marijuana dispensaries. Four states, namely Alaska, Washington, Colorado and Oregon have already legalized retail marijuana.
To be honest, I’d thought I’d never see the day that something used recreationally in hidden spaces, is now quickly rising to be one of the country’s biggest industries. But with a 58 percentage of people nationwide supporting the legalization of marijuana, we are now starting to experience possibilities we never have thought would be brought to light.
However, no matter how exciting it is, it’s not easy to be part of the country’s “weed entrepreneurs”. You don’t simply buy cannabis seeds and grow your own product without any restrictions. After all, the legalization of marijuana came about with the combination of not only its vast popular support and its potential for extra tax revenue but also with the promises of strict regulation in this industry.
The Department of Justice has given strict requirements that marijuana retailers and cultivators must follow. To give you a quick rundown of these barriers:
- Legal requirements. Things like each employee must have lived in the state for the past two years, and any other stipulations included in the state’s legalities.
- As with businesses, retail shops and grow operations need licenses. You would be needing multiple licenses, which you could only get after a public hearing and passing all inspections.
- Every employee who works for these retailers and cultivators must be licensed individually. Background checks are only the tip of the iceberg as there is a comprehensive process in getting licensed as an employee.
Even though we all know that the marijuana industry has been around for quite some time, having it legalized doesn’t mean this business is for everyone. Due to its federal illegalities, this is a very highly regulated industry. But then again, if you are passionate about something, I’m pretty sure you’ll be willing to put in all the effort needed to take part in America’s fastest growing industry!