The cannabis business is on fire. Over 62% of Americans are for the legalization of marijuana, as a Pew Research Center poll in October showed. Are you running or planning to start a marijuana business? Who can help you with reliable and low cost marijuana dispensary funding? Just read this blog post and you’ll know.
Cannabis Business Growing: Marijuana Dispensary Funding
No matter it’s a line of products with cannabidiol aka CBD, or a private line of recreational pot, you’re likely to succeed in your business.
The 34 states that have legalized the use of marijuana for either medical or recreational purposes have witnessed $10.4 billion in sales in 2018. This is what government figures show. Last year, investors put $10 billion in the industry to reach both figurative and literal growth of it.
Almost 55 million Americans smoke marijuana on a regular basis, as a Marist poll reveals. The potential U.S. market, if pot is legal in each state, makes up approximately $150 billion. As compared, it’s twice as large as tobacco. The beer market generates less by $30 billion.The industry research shows that 250.000 people currently work in the marijuana business.
As for cannabis stocks, they each make up over 55% already this year. Did you know that a proposal to allow limited forms of marijuana to children by parents on school property has passed the state Senate? What’s more, another proposal for new marijuana testing rules has also passed.
Currently, the legal marijuana industry accounts for billions of dollars in sales. It’s resulting in hundreds of millions of dollars in tax revenue for states. What about you? Are you interested in how you can get marijuana dispensary funding easily? No worries. Just turn to a reputable alternative online lender in the high risk space that offers exceptional high risk merchant financing at the cheapest rates.
Cannabis/Marijuana Industry in the U.S.
The cannabis market is quite appealing to investors these days. The thing is that investors have a unique opportunity to take advantage of a high-growth industry featuring a huge addressable market that’s virtually untapped.
According to a California-based privately-held investment banking company, the U.S. cannabis market accounts for nearly $11 billion and makes up at least 25% of the world’s cannabis market.Fortune believes the market will reach $23.4 billion by 2022. Based on the estimates by BDS Analytics, the U.S. cannabis industry is growing 23% on a yearly basis.
Today, retailers are making benefits of the booming cannabis industry. Last year, retail sales of CBD consumer products accounted for $2 billion, according to Cowen & Co. This number is projected to jump to $16 billion in retail sales by 2025, as the investment firm reports.
To sum up, the U.S. cannabis market is far away from being small and is growing with rapid advances. In fact, regardless of whether changes are made to federal law, individual U.S. states approve the cannabis business. So, just take the time to find a true business funding expert in the high risk field so to grow your marijuana business with ease.
Author Bio:As the FAM account executive, Michael Hollis has funded millions by using marijuana dispensary funding solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.