The legal cannabis (marijuana) industry is booming. According to Forbes.com, it was worth an estimated $7.2 billion in 2016. With double digit annual growth, adult recreational sales alone are expected to jump from $2.6 billion in 2016 to $11.2 billion by 2020.
In addition to recreational sale, medical marijuana sales are expected to more than double to $13.3 billion by 2020. That’s a combined annual market of over $24 billion, anticipated in just the next 3 years.
Does AG Sessions worry you?
Jobs, state’s rights, and taxes. That’s right. Jobs, state’s rights and tax revenue are the cannabis industry’s secret weapons against marijuana detractors in the Trump administration and elsewhere.
According to a survey conducted by Marijuana Business Daily, the marijuana industry already employs over 100,000 people in the U.S. alone.
Along with billions in sales, comes millions in tax revenue. Motley Fool estimated that in 2016, Colorado’s marijuana tax haul likely exceeded $200 million. That’s a lot of green. And it’s only going to continue to grow each year.
Once California’s recreational market begins to come online in 2018, cannabis investment and hiring are going to go into overdrive, and tax revenue is likely to skyrocket.
The GOP is nothing if not a staunch supporter of state’s rights. Don’t let the rhetoric fool you. No way the GOP throws state’s rights under the bus. Marijuana is here to stay.
Investors and Entrepreneurs Take Notice
Investors and entrepreneurs alike are taking notice. I recently had the opportunity to chat with one such entrepreneur, the CEO of Silver Leaf Investment, Jared Long.
I first met Jared at a local Marijuana Business Association Meeting in Portland. MJBA is a really terrific organization by the way. It’s run by Dave Rheins, a very knowledgable business entrepreneur, marijuana advocate and a powerhouse of energy, optimism and encouragement.
MJBA, is positioning itself to bring value to its members by “providing reliable Business Intelligence, Networking & Community, and Commercial Opportunity.” NBC news called MJBA “The Cannabis Chamber of Commerce.”
I highly recommend anyone interested in getting into the cannabis industry, consider attending a local MJBA meeting. Check MJBA for further details. Tell ’em the CBD Business Blog sent you.
Back to my meeting with CEO Jared Long…
We met recently over coffee at a local Starbucks, where many of the greatest business ideas are first conceived. As it turns out, Jared started out in the marijuana trade back in 2006 when he opened his first medical marijuana dispensary in Reseda, CA.
Jared is now focusing 100% of his efforts on his current venture, Silver Leaf Investment (SLI). Based out of Forest Grove, Oregon – SLI is an investment company focused on capitalizing on the consolidation and legalization of the cannabis industry nationwide.
Jared sees SLI as a vehicle for entrepreneurs to strengthen their brand, increase their profits, and grow their businesses.
For most successful marijuana businesses, it makes perfect sense to look beyond one’s state borders for future growth. Recreational and medical marijuana industries are thriving across the United States and new markets are continually emerging.
And let’s not forget our good friends up north – the Canadians! After all, Canada is host to one of the largest and most successful marijuana business in the world – Canopy Growth.
The potential upside for partnerships between U.S. and Canadian marijuana companies are considerable. In just the past few months, Tweed (a Canadian company) struck a deal with Snoop Dogg to bring to market his brand of marijuana ‘Leafs by Snoop’ to Canadians.
Know how many states allow recreational marijuana?
SLI is on the hunt for investors ($5,000 – $50,000+), land owners and potential partners in a variety of fields such as branding, marketing and sales. Do you have an amazing cannabis business idea, skill or talent? Maybe you have an incredible ability to write first class Cannabis Business Plans that land perfect investors? If so, Jared tells me that SLI would be interested in hearing from you!
Contact Jared and Silver Leaf Investment for more information today.
Be sure to tell them you heard it here – on the CBDbusinessBlog.com!