Are you considering business in the cannabis industry? If so, you may have a lot of questions about this industry and how it works. Rather than hankering for answers, it’s better to clear up misperceptions that breed doubt and can ruin your plans. This article will arm you with the knowledge to lead a successful cannabis business from the onset.
Ten Doubts You Should Clarify About The Cannabis Industry here : https://micannamarketing.com/seo-services-for-cannabis-companies-increase-your-potential-online-reach
1. I’m too young to get into the business.
Cannabis is still a relatively new industry, but that doesn’t mean it’s going to stay that way forever. The medical marijuana industry is a $3 billion/year industry, and more states are considering legalizing marijuana.
The more states that legalize cannabis, the more money it will bring in for tax revenue and jobs. People are constantly looking for ways to put new industries on their radar, and the cannabis industry could be just what you’re looking for!
2. I don’t have enough experience in business or finance.
When you first start a business, it’s not necessarily about the money. It’s about getting your feet wet and gaining knowledge for future ventures. When we started our business, we didn’t know what to expect, schedule-wise or financially.
We simply took a gamble on an industry we loved, and learned as we went along. As you work in this industry, you will learn the ins and outs of how things work, knowledge which will benefit your next business venture!
3. I don’t want recreational pot stores in my neighborhood.
While the city of Vancouver does not allow for recreational marijuana shops in the city, this does not mean that you will be safe if you live in a city that allows for recreational pot stores. Many cities are not enforcing zoning laws, and it’s your responsibility to know where you live.
If there is any chance that your community will permit recreational pot stores, it’s vital that you know where they will be located before moving into the neighborhood. Recreational shops have been banned in many other states as well!
4. Legalization means more people will get access to cannabis.
Many cities are limiting or banning marijuana clinics, so that may put a halt on how many medical patients can have access to medical marijuana. However, many patients will find a way to get marijuana regardless of where it’s legal.
You wouldn’t expect the government employees or your local convenience store to have access to alcohol, so why should the people in your community be allowed to have access to cannabis?
5. I think legalizing weed will lead to increased use.
While there is more information out there on how cannabis can be used safely and effectively, research has also found that cannabis related use has decreased over the years. As we have learned more about cannabis and its health benefits, people who have used it traditionally have started to shy away from it. We should do what we can to learn about this new industry, which will lead to us making better choices in the future.
6. You only succeed in business if you are the best at what you do.
Many cannabis professionals get caught up in being the best at what they do, but there is always room for improvement and advancement. As an entrepreneur, you should never settle for average or being okay with something just because it’s good enough.
You can’t be afraid of competition because healthy competition is what pushes businesses forward and gives them an incentive to be better than their competitor!
7. There are too many regulations.
According to the Huffington Post, marijuana is one of the most strictly regulated products in the country. Each state has different rules and regulations for cannabis, which means that there is still a lot of red tape involved when it comes to running a successful business in this industry. Being aware of these rules before starting your business will help you avoid costly mistakes and misunderstandings!
8. Cannabis will be taxed so heavily that I can’t make a profit.
A study conducted by NBC News found that over 30% of marijuana will be subject to federal taxes once it becomes legal, but another 20% will have to pay state taxes as well. That’s 50% of your profit gone before you even open for business!
As a business owner, you will want to report as much income as you can to avoid paying taxes. Currently, this is pretty easy to do if your customers are willing to buy cannabis on the black market or from a recreational store. It’s important that you understand how taxes work within your state and country in order to avoid paying too much!
9. All Dispensaries Sell Marijuana
It takes a special license in order to sell marijuana legally. This means that many dispensaries simply provide other services like massages or acupuncture while operating illegally. However, in order to get a license for recreational cannabis, you have to provide certain guarantees about the quality of your products and the training provided by your staff.
10. People Who Own Medicated Clothing Represent The Industry
While one may think that all of the people who sell marijuana-themed clothing are part of the industry, this is simply not true. This misconception is common among many customers who visit dispensaries and purchase t-shirts with marijuana leaves on them. They also believe that every person working at a dispensary sells drugs and/or marijuana paraphernalia – but this just isn’t true.
