How Can Weed Help the Economy? Marijuana the Global Fight for Profits
People often ask how weed can help the economy. The answer is simple and complex at the same time. At its simplest form marijuana provides a new source of revenue for many companies.
Marijuana is giving many business and entrepreneurs the opportunity to increase their profits, by integrating marijuana related products and services into their existing companies. With the overall boom and acceptance of marijuana.
Many new companies related to marijuana are being started every day. The sales and distribution of marijuana related products, creates more taxes from these businesses. Which can then be used to better serve local communities and neighborhoods.
The new legal weed market has the potential to affect a wide array of business and industries. When we think of people selling legal marijuana and profits. We usually just think of revenue earned from selling to marijuana users. Truth is there is way more money on the table, than just from people consuming weed.
There are a lot of products that could be created cheaper and more efficiently than standard material, currently being used. Hemp can be used for everything from creating cars, houses, boats, fabric, medicine and much more. If hemp is ever fully integrated into society.
A lot of industries would be affected. The use of marijuana related material and products, would create millions of additional revenue, within multiple industries. If you had the chance to enter the marijuana industry, what would you sale or offer?
Marijuana Sales Projections
Currently within the USA there are around 10,000 active licenses for weed businesses. These business includes everything from cultivation, extraction, retail, distribution and testing.
A study in 2018 showed that North America legal weed market had reached 12 billion dollars, growing by 30% a year. This shows marijuana potential and future within our economy. There is no other market or industry that has the potential to positively affect profits and gains within different industries and applications.
Source: Weed Projections & Profits
The Edible Marijuana Market & Projections The edible marijuana market has seen steady growth since, the legalization of weed. Current market projections and reports show that the edible industry will reach 4.1 billion by 2020. This shows that there will be a lot of room for new and existing business to profits from that sales and use of edible treats.
Jobs within the Marijuana Industry- Marijuana and Our Economy
If you currently looking to get into the new emerging marijuana industry, here are a few jobs that pay well.
A Master Extractor can make between $80k- $250K. Job duties and requirements are you have to manage and maintain laboratory facilities and comply with all regulation and safety standards. You would also be in charge of production and collecting oils and concentrates from plants.
A Master Grower average salary is between $50k- $120k. You would be in charge of managing large grow operations. This would include everything from planting, cloning, crop nutrition’s, pest control, grow house management and staffing. You must also be familiar with local laws and restrictions. A master grower usually will take home lucrative bonuses based on performance.
Become a marijuana tester and make between $50k - $90k a year. A marijuana quality control testers jobs is to ensure that marijuana products comply with health and potency standards. You would be able to work for weed related companies or government departments. Your role would be to inspect and enforce marijuana cultivation laws and regulations. This job might require a PhD in a related science field such as biology, agronomy, chemistry or entomology.
A Marijuana Chief salary ranges from $40k – 90K a year. A weed chief has the opportunity to work for individuals people, weed companies or even marijuana related events. A marijuana chief could make everything from pastries, chocolates, bakes treats, soda, coffee, and numerous other products.
What job would you take within the marijuana industry?
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