Medical Marijuana Business

Medical Marijuana Business

Many have positive feelings about medical marijuana and now that over 16 states have decriminalized the use of marijuana for medical reasons a large amount of people would love to get involved in the medical marijuana business. Being able to be a part of something that they believe in and having the opportunity to also help others sounds like a great plan to others. So with that being said, what are the pros and cons of the medical marijuana business?
What is the state of the industry and what legalities need to be looked at for a prospective person looking at getting involved?

A quick overview shows that many feel the medical marijuana industry is a “green rush”. A lot of people have heard about others that are rushing in to try to cash in. Within the next four years the GDP from medical marijuana has been expected to grow by over 400% as more states decriminalize the substance for medical use. However there is also a lot of concern because currently marijuana (used medically or not) is still classified as a class one substance by the federal government- making it illegal to possess, sell or transport. There seems to be a lot of confusion because the laws differ. And even state by state, the laws differ also.

Anyone looking to enter the medical cannabis business needs to be aware of these concerns and consult with legal counsel. It is possible for an operation to be raided at any time by federal agents. At the same time, many operations set up according to state standards and set up as a true nonprofit that is not looking to line their own pockets have been running with great success and support in several states. The intention of state laws are that these operations are not set up to be profit makers, the intentions are that these operations are to be able to provide a safe environment for patients who are too sick to grow their own to be able to acquire the medicine that has been recommended by their doctor. If you are looking to enter the industry, it is advised that you take a very strong look at your intentions. If your number one reason for getting involved is money you will likely not have things set up properly and there could be a chance that your operation could be shut down.

If youd like to see examples of dispensaries that are well ran Harborside Health Center in Oakland leads a great example. We also offer a free newsletter you can get by entering your information below that offers additional tips and resources that will help you make a great decision by adhering to your states laws. If you have any interest in this industry, this newsletter will be of great assistance to you.

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