The rapid emergence and evolution of the cannabis industry can be seen each year as new legislation, and ballot referendums are introduced. This allows entrepreneurs and small-business owners to expand their operations into new markets.
Due to the increasing number of states that have legalized the use of marijuana and the growing number of members of Congress advocating for the federal legalization of the drug, the industry is poised to continue its rapid expansion.
It is easy to assume that the cannabis industry comprises the individuals who grow the plant, as well as the manufacturers and retailers who sell the products from this sector. However, this is not the case. There are many different facets to the industry and its supply chain. Here are new opportunities in the cannabis industry.
Many different types of businesses are involved in the plant-touching industry, but one of the most common is the cannabis industry. Some of these include the individuals who grow the plants and the delivery and transportation companies that deliver the finished products.
Due to the nature of the oversight that the plant-touching industry is subjected to, it is one of the most heavily regulated sectors in the industry. To operate in this sector, an entrepreneur must first secure a license from the state. This can be very expensive and can take a long time to complete. In different states, the application process for a license can be different. There is also a cap on how many licenses can be issued.
In some states, a company can be required to manage all aspects of the plant-touching industry, such as the cultivation, processing, and dispensing operations. Another type of system is a specialization system that divides the licenses into multiple groups and awards them to companies.
Ancillary Cannabis Opportunity
The various types of companies that are part of the marijuana industry are known as ancillary businesses. These organizations support plant-based companies but do not necessarily engage in producing, distributing, or cultivating marijuana products. Some of these include companies that produce equipment and packaging for plant-based businesses.
Despite the number of individuals eager to enter the plant-based industry, ancillary businesses offer a more accessible entry path than other businesses. They do not need to go through the laborious and costly process of getting a license to operate.