The cannabis industry today is akin to a fuse just seconds away from blowing, and as the fire and anticipation builds up, one can only imagine all the possible effects of the coming explosion.
People everywhere are trying to get into the industry before it booms, as entrepreneurs are already making millions off of cannabis, and the revenues only seem to be on their way up.
As we move into the second decade of this millennium, and Generation Z’ers come of age and this country may see a stark change in the kind of indulgences people take part in.
All signs point to marijuana regulations becoming softer as the years roll on, and even if marijuana will never become legal on a federal level, more states joining the recreational piff party will surely increase the cannabis industry’s influence.
As a Millennial or Gen-Z’er, you should be gearing up to become part of the cannabis industry or bolstering up your business to reap as much reward as possible going into 2020. Trust, our influence is only going to grow as regulations soften and the years go on.
Here are some things to think about when deciding how you can get involved in the cannabis business.
Invest in the cannabis you love blazing so much, OG
If you are passionate about weed, passionate beyond “yeah I like to smoke,” now is the time to act. Portland, Oregon is one of the cities where any adult 21 or older is legally allowed to purchase and use recreational marijuana.
Right now it is $3,500 per year for a regulatory license for a cannabis business. State licensing fees can take this number up another two grand or more. Traditional businesses do not have license prices this high, and one thing is for sure… The price is only going to go up.
As more competition comes up, fees and licenses are only going to increase. Get in early, and reap the rewards later.
There’s more to the piff
Just like in everything in life, you need the experience to get running. Liking a good toke of weed and feeling wavy is not enough to start or get in on the marijuana business. To set up a dispensary or cultivation center, you need relevant experience and then to tailor it to exactly what you want to do.
Furthermore, you have to negotiate with the local and state government to get approved. Then for a cultivation center, someone needs to have agricultural knowledge to get it started.
After that, if all other boxes are checked, someone needs to know how to set up shop, attract customers, and show them why going to your place is a lot better than the others. Experience is paramount to all success in life and this business is no different.
It’s time we put our influencing skills to the test
For us millennials and Gen Z’ers, we have even more influence than we imagine. Of course, there is the social media and internet effect, where we rise in numbers and can affect public perception as strongly as Khabib when he wrestles an opponent to the ground.
But the way we move outside of the digital sphere is even more essential, and as the number of us reaching 21 increases every month, we have the opportunity to really sway how marijuana is accepted in this country.
Stop overthinking marijuana
Alcohol is ingrained into the fabric of this nation. Advertisements for beer are plastered all over. Liquor commercials are commonplace for television breaks and partnerships between beer companies and giant corporations like the NFL stamp alcohol into the public consciousness.
But is alcohol all that much better for you than marijuana? No, it’s not, and most of us actually understand alcohol can have far worse effects on our body than safe use of marijuana can.
Weed is a drug that can stimulate the mind, and produce creativity in the workplace. Whereas alcohol can have serious negative effects on the job, the worst thing weed can do is cause overthinking.
Some Gen-Z’ers don’t even know of a time where marijuana was completely prohibited. A lot of teens don’t want the incessant headaches alcohol cause and instead favor a nice clean toke.
The impact of this is that the market is far different than what it used to be. Alcohol is so present in society that it isn’t going anywhere, but with the rise in marijuana popularity and availability, it is possible alcoholic businesses will feel the effects over the coming years.
Starting a business is tough in any field, and in the cannabis industry is no different. But with experience, passion, and diligence, you may find that it fits you perfectly. Gen Z’ers have grown up in a completely different world than their parents and that means times are and will change.
Now is the time to enter in the cannabis industry, because once the doors fully open up, it may be too late.