The marijuana industry is on fire, especially in Colorado. Marijuana has become a hot topic nationwide and as more states follow suit and legalize marijuana, it will continue to boom.
In 2015, sales in Colorado nearly reached the $1 billion dollar mark! Officially, Colorado sales were $996 million, which is up by about $300 million dollars over 2014 sales. Recreation sales topped medical sales in 2015 accounting for $588 million. Medical sales hit $408 million dollars.
What does all of this mean? What does the future hold for the marijuana industry? While some say that the Colorado marijuana industry is saturated with dispensaries and grow houses, the industry itself is still in its infancy. I mean, getting (and keeping) a bank account isn’t even a viable option yet for those in the industry.
As the reach of marijuana continues to grow nationwide, the federal government and banking systems will eventually have to begin viewing the marijuana industry as a legitimate one. And with that, it will probably be one of the fastest growing industries in the nation.
The marijuana industry is one to watch now and in the future. We will begin to see large marijuana retail chains start to develop and acquire smaller dispensaries on the way. We will see new products come to the market solving new problems that pop up as marijuana becomes more pervasive and widely accepted.
If you have ever thought about being a part of the amazing marijuana industry, but haven’t taken the leap, now may be a great time to jump in with both feet. If you have a dispensary, then now more than ever before, it is vital to make sure you stand out from the rest. Don’t let your business get lost in the haze of competition as it is fierce and will only continue to grow from here on out.
Ask yourself what steps you are taking to stand out from the crowd. And take action now!