MMJ Business will boom for Florida!
The legalization of the medical marijuana industry in Florida is likely to give a major boost to many other businesses. There is a wide selection of auxiliary businesses whose services and products are very much applicable in the cannabis industry. Some dealers sell weed in places where medical marijuana is not available. In that case, auxiliary services dealing with transport will be very instrumental in weed delivery. HempStaff is one of the organizations that have provided technology and services to cannabis dispensaries and cultivators. In such a case, Florida is offering great opportunities with its new medical pot business. This budding weed market in Florida may be one of the biggest in the nation in a matter of years following the approval of Amendment 2.
By 2018, users of medical cannabis in Florida will spend about $200 million. These estimates were done by the New Frontier firm, which is a financial analyst organization focusing wholly on marijuana. The firm says that Florida will make up 14% of the country’s legal cannabis use by 2020. According to the editorial director, Marijuana Business Daily this will trickle down, throughout the state. It will provide a lot of job opportunities and many other opportunities for doing business. Some professionals in the industry are now training individuals on marijuana dispensary-related work in weed-friendly states. There still will be such openings in Florida. Previously, there have been about 1200 individuals in Illinois, California and Colorado who have taken classes including tutorials on what is acceptable and not acceptable by the state laws, the medical benefits of marijuana and how to assist first-time patients in getting the right weed products for their treatment.
The need for training dispensary agents is not debatable. A licensed weed market in Florida is definitely paving ways for other businesses through other opportunities more than just marijuana dispensaries and nurseries that have been the main source of jobs in the cannabis industry. About 33,000 marijuana-related businesses presently exist in America according to the Marijuana Business Daily estimates. Almost 2/3 of these businesses don’t involve the direct trade of marijuana. This is how big the impact will be in Florida’s economy seeing that quite a number of businesses can get opportunities in the weed industry.
Businesses to Profit from Florida Medical Marijuana Market
So, who is likely going to benefit from Florida’s burgeoning medical marijuana industry? There definitely will be a long list of business opportunities in this industry. These include insurance agencies, marketing organizations and packaging manufacturers among others. All these target the niche marijuana market. Investors have built complete strategies all around the booming pot industry. Also, software developers will not be left out along with agricultural wholesalers who have created products particularly for cultivating and selling marijuana. It is very clear that there is a lot of money to be made. The forecasters of the industry may not be able to give specifics right now but there is certainly unbounded hope in the future of businesses considering a stake in the industry. This has partly been due to the rules that have not yet been fully established concerning the Florida weed industry.
To get started, legal marijuana will be low in THC and also made available to a number of chosen patients such as children diagnosed with cancer or severe seizures. Amendment 2 greatly increases the number of ailing individuals who will be allowed to use medical pot. This implies that there will be a lot of money for such companies as All Green Insurance, which is one of the few insurance agencies involved in insuring the marijuana industry. A medical cannabis market in the third most populous state in America will definitely increase business for All Greens by over 25%, according to the company agent, Mr. Bright McKnight. Prince Insurance based in Colorado began their brand in 2009 when they sensed that not many insurance companies were willing to take on this opportunity. Ideally, it was risky for some people. However, risking highly is linked with high returns and this is what such insurance companies will do in the Florida market for medical weed.
As business prospects emerge with the increased access to medical marijuana, organizations like BrandHigher in Massachusetts may see its list of prospective clients increase. Marketing companies have got experience on what not to try out in marketing and sales. They try not to put “marijuana” or “cannabis” in the name of the business. This is just a tip of the secrets of making it big in the industry as shared by the BrandHigher director. Florida will definitely feel the economic impact. First, it will start with many small businesses getting involved in this medical pot industry. With the presence of anti-marijuana lobbyists, the focus in Florida would be the creation of more jobs and enhancing education. That is the secret learnt in many other places and will definitely work for business owners in the state.