business

The Smell of Cannabis Money

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Someone working on a business degree should write the story of the emergence of legal business following the re-legalization of the hemp plant.  That story has just arrived at a fork in its’ road. In Colorado, where lawfully operating medical marijuana providers already exist, will those same providers sell to now-legal recreational users?  These existing businesses are being asked “how much business do you want?”  Consider:

 
In Colorado, unlike in Washington, medical marijuana dispensaries are for-profit businesses and all dispensaries and employees are registered and licensed, which has helped legitimize an industry that’s been forced underground in most of the world. You won’t see marijuana leaves emblazoned on dispensary doors or pictures of Bob Marley on the walls. Instead, they feel like small doctors’ offices with waiting rooms and helpful receptionists.

“We’re trying to rebrand the image of marijuana in general and get away from that pot stoner culture,” says Jason Katz, head of operations at Local Product, a Denver dispensary located in view of the statehouse. “As long as we can continue to keep doing that with the recreational model…we’ll be moving in the right direction.”

For most medical marijuana sellers, the decision to serve recreational users is likely to come down to economics—there will simply be more customers, and more money, for businesses who serve recreational users alongside medical users.

“If anyone over 21 can buy marijuana,” says Katz, “why would a patient go through a $100 state registration process to get a medical marijuana card when they can just buy it without doing any of that? I think it makes sense for our business to go recreational in that it will open up our customer base.”

Analysts expect that customer base to be upwards of one million in-state consumers, which for a marijuana products manufacturing company like Denver-based Dixie Elixirs, spells big profits.

“Ultimately my goal is to sell our business to big alcohol, big tobacco, or potentially big pharma,” says Tripp Keber, managing director of Dixie Elixirs. The company makes more than 75 marijuana-infused products, ranging from marijuana-infused truffles to flavored sodas to non-psychoactive cannabis body lotion. Located in the Denver warehouse district , a whiff of the outside air leaves little doubt about the new cash crop in town.
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An interesting story. History happening while we watch. The complete original post worth your time and can be found HERE.

[image: Google images business]

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