For the longest time, many of us had fought for the right to legalize marijuana. Over the years, many forms of legislation were turned down, passed, and stalled. However, many people still fought for the cause to have marijuana legalized, and at the very least, decriminalized. In the great state of Colorado, we found that victory was in sight, and we pushed harder and harder for the proper legislation, and we finally met our goal of having marijuana legalized in our state. After all of the legal hoops we have jumped through, we finally achieved all of the success we were striving for and all of my friends and compatriots were excited to fully explore the brand new opportunities that were available to us. At first, it was almost too overwhelming to have full legal options to consider for selling cannabis and their related accessories. However, we soon found out that it was not going to be as difficult as we imagined, and my friends and I shortly opened up our own marijuana dispensary. There were the usual issues of finding out how to run a business, and we had issues with finding reliable employees, but after a short amount of time, we were finally up and running to the best of our abilities.
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We soon found out that the state of Colorado was going to start a mandate that each and every marijuana dispensary was going to have to get a “Division Approved Sampler” for their businesses, which basically meant we would have to find a service that would professionally and reliably to act as a cannabis courier for our business, and they would have to deliver our goods to a cannabis testing lab to verify the quality of our product. We found that this was not going to be a big problem at all, and we quickly saw that that CannaRabbit, located right in the heart of Colorado, was the best company to work with. After such reliable and speedy cannabis test sample collection, we knew that they were highly dedicated to the services their job offered. After spending a few months using their services, my employees and I thought about how they could further benefit our company.
We soon found out that CannaRabbit also offered marijuana delivery services, and we thought about how we could integrate this into our business. Since CannaRabbit was fully licensed as a cannabis courier, they were also fully certified to act as those to deliver marijuana, and only charged a fee based on the distance of the location. We made some arrangements with them, and adjusted some of our prices to cover the cost of transportation and delivery, and we soon had our very own marijuana delivery service! This gave our business a much needed boost in sales and clients, and we couldn’t have been happier about our choice with CannaRabbit. We saw that there was an untapped market for this kind of cannabis delivery, so we decided to make this our focus as a dispensary. All of my employees think that we made the best move, as CannaRabbit is reliable for our testing sample transports, as well as local deliveries!
Up until now marijuana stocks have been thought risky. But a tide change has occurred, evident in the 1,000 attendees at Marijuana Investor Summit in Denver last April.
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Startups used to have to beg for money and approach hundreds of investors to capitalize their operation. But entrepreneurs with the right background and a solid business plan say they were approached at the summit unsolicited with donors looking to get in on what is increasingly becoming a wise investment. Lots of ancillary businesses too made their presence known offering a variety of services such as security, consulting, accounting and recruiting.
The development of an entire new industry comes in three phases. First the product itself is developed. Then ancillary businesses rise up around the product and finally infrastructure offering other important services arrives on the scene. Industry insiders say marijuana is quickly growing up and is now moving on to the third and final stage.
Almost half the states in the nation have legalized medical marijuana. Four states and D.C. currently have recreational marijuana and about six more will consider legalization over the next election cycle. What’s more, there are bipartisan bills snaking their way through Congress that aim at restricting the federal government’s ability to intercede in states where medical marijuana is legal.
The ArchView Group is a cannabis-based data and investment firm out of San Francisco. According to their CEO Troy Dayton, legal marijuana spells a massive market that is only expected to grow bigger and more rapidly. ArchView claims 470 investors onboard and 54 companies in their portfolio. 300 cannabis-based publicly traded companies exist today. To be fair not all are legitimate. Four or five has been listed by the Securities and Exchange Commission (SEC) as pump-and-dump operations. But tech guru and billionaire Peter Thiel legitimized marijuana investment earlier this year by launching Founder’s Fund, his own cannabis investment firm.
Since then institutional investors have started to warm up to pot stocks. Getting a company started isn’t easy. But it’s becoming more and more so. That and the maturing of the industry spell good news for investors.