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The Cannabis Business: A Billion Dollar Industry?

CANNABIS BUSINESS Backed with Governmental Support

The Cannabis Act of Canada enjoys not just support from the general public, but from Prime Minister Trudeau himself. Echoing what online dispensaries like BC Medi Chronic say, criminalizing cannabis has shown to be a failure and that the best way to go about it is for marijuana to go legal – as early as mid-next year, in fact. While medical weed in BC is already extremely profitable (much to the delight of BC Medi Chronic), things will really skyrocket once the legalities for its recreational use has been fully sorted out.
 

The Numbers Game

In terms of numbers, the projected annual revenues for recreational marijuana varies but all are significantly high. The most optimistic study pegs it at a 22-billion-dollar revenue per year, while conservative estimates lean more towards between 2.3 to 4.5 billion in the year 2021.
While the conservative estimate is still a far cry from the U.S.’s 7.1 to 10.3-billion-dollar projection, the fact that weed products for recreational use (and not just medical weed in BC) will number in the billions is already significant as it is. In addition, the projections in the United States is still based on illegal activity – so things are more or less sketchy in terms of the state of their industry. With the federal government showing support for Canada’s pot legalization, more doors will certainly be opened for everyone to enjoy – the cultivators, customers, and sellers like BC Medi Chronic.
In fact, other businesses are looking to get into the profit game as well. Marijuana stocks are at an all-time high (pun intended), and private businesses are investing money in the industry because they have strong confidence in its profitability. While Prime Minister Trudeau maintains that the biggest factor that grounds his support for the Cannabis Act is on healthcare concerns and its benefits, the entire country will certainly benefit from the millions of dollars in revenue that’s sure to come in once recreational users are made to pay marijuana tax. That spells more development opportunities not just for the legal marijuana industry, but for the entire economy of Canada. With the way things are developing, it wouldn’t surprise anyone to learn that more investor support will be coming in the next couple of months.
 

A Strong Support for the Online Platform

While brick and mortar dispensaries are quite common, the government will be supporting online sales in order to meet the demands of the cannabis industry. Canadians already have a practice of purchasing their medical weed in BC and other weed novelty items through online dispensaries like BC Medi Chronic, so it is these outfits that stand to gain a whole lot once the support is realized.
 

Getting Things Ready

Another indication of this billion-dollar industry coming to fruition is all of the on-going efforts for cultivators to prepare their stock in anticipation of the surge that’s to come once recreational users are given the legal go-signal to buy their much-desired cannabis online. From staff expansions to increasing their regular quota, one cannot deny that the key providers are determined to deliver the goods when the time comes – and that time is coming soon. From about 14,000 pounds of cannabis grown annually, the new target for next year is at 138,000 pounds.
Other industries are making little adjustments to accommodate the impending legalization. Hotels in Alberta, for example, are looking into allowing hotel guests to consume cannabis within their premises. This circumvents many concerns for neighboring Americans, who can legally purchase cannabis in some states but are limited to using them within their own homes. Little tweaks like what Alberta is considering will mean greater competition in their favor.
With all these things happening, the possibility of this billion-dollar industry is so close that we can actually taste it. Things are happening at a fast pace, but all parties concerned are making the necessary steps to ensure that everything goes smoothly once the bill is formalized into law. While there is still the possibility of snags happening during the earlier part of the process, these birthing pains are quite normal for something as monumental as allowing recreational marijuana use legally. The upside is that the majority wants it bad enough for it to happen, so you can expect all sectors to really do their part and provide the necessary support.
For recreational users who are not too keen on smoking medical weed online, there is a multitude of novelty items and edibles that they can buy from dispensaries like BC Medi Chronic. There are medical weed online in candy, popcorn, chocolate and brownie form, to name a few. Others might like to try a topical solution for headaches and stress relief, as ointments are also available for people to apply on their skin. Vape aficionados can look forward to a different experience by purchasing different variants of marijuana concentrates. There is something for everyone, from those who are making tentative steps into the marijuana culture (whether they really need it to combat work-related stress or chronic illnesses, and everything in between) and those who are already big fans of this lifestyle and are looking for new things to try.
Because marijuana use is not just limited to the goal of feeling the high, the industry is also sure to see more innovative and highly beneficial ways of using these products in different forms. The prospect is very exciting indeed, and one cannot help but look forward to bigger and better things to come – very, very soon.]]>

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