Marijuana retail sales could reach $4.3bn this year and create new jobs, but some aspiring entrepreneurs warn that weed is not an easy business.
This year’s election may have been dominated by Donald Trump, but it was also about marijuana. California, Massachusetts and Nevada made recreational use legal as a bunch of other states moved to legalize medical use. The victories weren’t all about getting high. The promise of marijuana is money – money for state taxes and for the bushels of small businesses that are being created in legal weed’s wake. Next year will be a big test for those businesses and, according to some, those promises are already going up in smoke.
Marijuana retail sales, both medical and recreational, could reach $4.3bn this year, according to the 2016 Marijuana Business Factbook, an annual survey of cannabis-related ventures conducted by Marijuana Business Daily. Access to a multibillion-dollar industry that could create new jobs is a prospect that appeals to voters otherwise uninterested in pot, but some of the aspiring entrepreneurs chasing that dream warn that weed is not an easy business.
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