Interesting facts about the cannabis industry that will surprise you
The medicinal benefits of cannabis are no longer ignored
Cannabis is no longer a taboo subject and is treated in muted tones. Now, with the awareness of its benefits, more people are choosing to use it. In countries like Canada, it’s even legalized. With the novelty of this product and ease of application of the regulations, the cannabis industry is now booming like never before.
If you’re too keen to join this industry, here are some interesting facts about the cannabis industry you need to know.
It’s not a bad deal
If you imagine that cannabis dealers are people standing in the dark alleys selling pots, then you are mistaken. This industry has taken a completely professional approach after being legalized. Law firms are also committed to keeping this industry compliant, as are full-fledged marketing firms that help build brands. There are even doctors who prescribe CBD oil for their patients as part of their treatment.
It is not aimed at addiction for children
The myth that the cannabis industry appeals to children is the wrong impression people leave. Just like cigarettes and alcohol, there are too often legal restrictions on the sale of cannabis to minors in this industry. They could have serious repercussions if they depart from this law. Since no industry wants to get such a bad reputation, they too follow the same law. The industry is aimed at people of legal age who need them due to illness or only for recreational purposes.
You do not have access to bank loans
Although the cannabis industry has grown by leaps and bounds in recent years due to its sensitive positioning in the legal system, most banks do not offer them loans. Many countries have laws that still prevent banks from accepting money from industries that are not fully legal. That’s why entrepreneurs hire a CFO for the cannabis industry to take care of all legal requirements. Bookkeeping and currency exchange are handled by these people to reduce the risk of losing money. However, you will still have access to personal loans, although the interest rate on them is usually high.
You can advertise easily
Social media handle like Facebook lifted the ban on marketing cannabis products in 2019. You can now advertise on the online platforms without any problems, provided that you follow the relevant basic rules. You can also use other marketing techniques like affiliate marketing, podcasts, etc. However, not many countries allow newspaper advertising.
It’s not a male-oriented industry
Although this industry has traditionally been stereotyped as a “men-only” business, it is no longer the same. Women have also joined the cannabis industry. There are even several books, magazines, and documentaries about women who entered and thrived in the cannabis industry.
Given the growing dynamism of the cannabis industry and the destruction of ancient myths, it is sure to benefit more people. As more and more countries understand the benefits of the cannabis industry and relax the associated legal regulations, the time is not very far for it to be a whole new market for everyone to step into and enjoy.