California is a highly attractive location for cannabis companies. It has a progressive approach to cannabis, places to get it, and resources to support it industry.
It is the first state to pass recreational marijuana laws, going into effect in January 2018. There are currently three major markets for cannabis in California: Los Angeles, San Francisco, and Oakland.
In January 2018, voters passed Proposition 64, which legalized the use of marijuana for non-medical purposes. This law went into effect on November 1, 2017, when college students and birthday people could buy marijuana at dispensaries starting December 1.
On January 1, 2018, everyone can buy retail pot at construction projects and construction sites all over California! This is called the Adult Use Sales Rulemaking (AUSR), and it took place in November 2017.
Opportunities for entrepreneurs
There are many ways to work with cannabis, and for entrepreneurs, there are lots of opportunities. Employers such as Intel, Apple, and Monster Worldwide have all incorporated cannabis into their recruitment practices.
As the economy continues to grow, more positions will open up for entrepreneurs. Due to its low cost and fast production speed, cannabis can be highly effective at high volume production rates.
To become a part of the cannabis industry, the first step is to learn about trademarks and trade dress. Once that is mastered, then expansion is easy. Try your best first and you will eventually get your chance to branch out!
For starters, look into becoming a producer or a distributor.
Challenges faced by the cannabis industry
As the popularity of cannabis increases, there are many new faces that are coming into the industry to get involved. From growing operations to market participants, there is a role for every person and entity in the cannabis industry.
Consumer demand is one of the biggest factors driving growth in the cannabis industry. People are looking for ways to manage their anxiety and pain through cannabis, and growing demand proves active support is key.
This consumer demand can go up and down, which is a part of the cycle. When times are good, businesses can lavish expense on fancy equipment or large populations they need to reach to buy their product. When times are bad, people don’t buy what they paid for because they see it as overpriced.
The role of branding in the success of certain brands
The use of brand names to distinguish one product from another has become common as people look to expand their networks and/or purchases.
Many consumers look at a product and think, “That looks like a nice enough thing, but what makes it different from the other things I’ll probably buy?”
This is how they choose products, whether it be for recreational or medical purposes. They may not always realize that something they believe is cannabis is actually another thing with psychoactive properties that doesn’t make them feel good (e.g. alcohol) or that they don’t want to admit they (as a public) are sick of (because of the perception that it is medicinal) because of how it looks and/or sounded.
As more people gain knowledge about cannabis for medical and recreational purposes, there will be more chances to expand their brands.
The importance of collaboration between different companies
Collaboration is an important tool for identification and recruitment of talent. At the moment, there are many opportunities for collaboration between companies in the cannabis industry, which is why it is important for companies to seek out and recruit talent.
With the growing number of cannabis companies in California, there will be more opportunities for collaboration. For example, member company of a cannabis company may offer access to capital, expertise, and/or distribution channels.
Another example is membership in an allied health organization such as a holistic medicine group or specialty practice. Membership in a cannabis club may provide access to know-how and resources but not capital as this must be obtained from member-side sources.
There are several ways for organizations looking to work with the cannabis industry to identify talents. The first is through education programs such as summer camps or training courses.
What does the future hold for cannabis?
As of this writing, marijuana is not legal in all states, however experts are beginning to discuss the changes that will occur as more and more states legalize the drug.
Many experts believe that this growing industry will explode in popularity due to its perceived benefits: decreased anxiety and stress, improved sleep, and overall a feel-good effect.
However, there are also significant effects on the economy associated with cannabis, including tax revenue losses. As more states legalize marijuana, additional governors will be faced with determining whether or not to allow cannabis as an agent of drug legalization.
This will greatly impact state economies as more people choose to move there due to the recreational use of cannabis. There are already reports of cannabis-fueled layoffs in state government.
How to get involved in the industry
Starting out in the cannabis industry is an er-crown-y experience! As a newbie to the industry, you can begin by volunteering at a local dispensary or event. You can also join a program like Community Action Referral Service (CARS), which connects people with low-income and non-profit community organizations that offer cannabis products.
Through CACDP and the California Department of Public Health (CDH), you can also become a health educator. Once you are hired as a health educator, you can start teaching people how to use cannabis to treat ailments such as pain, anxiety, depression, and sleep disorders. You can also become an outreach worker who gets out into the community to promote cannabis as an alternative product to pills or smoking.
Finally, if you are already in the business world, becoming involved in the cannabis industry is essential. Meetings are hosted by companies that provide products and services related to cannabis cultivation, distribution, and marketing.
Knowledge is power
With over 28 million Americans using cannabis, knowledge is power. By learning about cannabis and how it can fit into your personal health regimen, you will be able to make decisions that are best for you.
For example, people who find cannabis relaxing can have an easier time following through with their medication. Many people who suffered from chronic pain used cannabis to manage their pain, but now they can enjoy a safe drug that may also help them sleep better and feel more calm.
As more states legalize marijuana, the knowledge base will continue to grow. Already, we are seeing colleges and universities offer courses on marijuana, how to use it safely, and legal issues surrounding it.
Cannabis and health
As the world continues to move towards a cash-based economy, cannabis will increase in popularity and demand. With increased demand comes more investment into the cannabis industry.
With increased investments comes increased jobs and opportunities for people to make money. Many of these jobs are located in California’s medical marijuana industry, which is responsible for many of the employment opportunities.
Job growth has been strong in the medical marijuana sector with an average of 6 percent annually over the past year. This goes along with a steady rise in dispensaries, from an estimated 5,000 around 2016 to over 8,000 today.
This growth has resulted in more crime against employees and property, which costs taxpayers money due to injuries and deaths.
