As the benefits of medical marijuana become more widely accepted, business owners, entrepreneurs, and investors are looking for ways to invest in the cannabis industry. Before starting a business and beginning marijuana facility construction, it is a good idea to consult with a marijuana investment advisor, as there are all kinds of legal and practical considerations to keep in mind.
Starting a medical marijuana business
This is a good time to start a cannabis business and begin work on a marijuana facility construction. At present, 58% of Americans support legalization of cannabis. In 2010, the number was only 10% of the population. More than 25% of the population lives in the states that have legalized marijuana.
The global market for hemp products includes over 25,000 products in submarkets like paper, personal care, textiles and agriculture. Earnings from legal cannabis sales are expected to grow over the next five years, exceeding the revenues of the film industry and organic food, and over triple the total NFL revenues.
Issues in the legal marijuana industry
Before beginning marijuana facility construction, it is good idea for investors to talk to a cannabis consultant about the legal and practical issues involved. According to the National Conference of State Legislatures (NCSL), medical marijuana is legal in twenty three states and the District of Columbia. However, the federal government and its agencies still consider cannabis to be a banned Schedule 1 drug.
This raises practical and legal issues for businesses, connected with federal taxes and even the use of federal services like the post office to mail products. Professional legal advice from a cannabis consultant can help in setting up a medical marijuana business and marijuana facility construction.
Results of cannabis legalization
As many as 92% of patients who have used it believe that medical marijuana works. A study to assess the risk of marijuana use after the legalization of medical marijuana followed one million teenagers over a period of twenty four years. It did not find that legalization of medical marijuana made any significant difference to the risk of marijuana use.
A recent survey of healthcare personnel by the New England Journal of Medicine found that over three-fourths or 76% believed in the efficacy of medical marijuana.
Taking all these trends together, this is a time of growth and expansion for the medical marijuana industry. Before beginning marijuana facility construction, it is a good idea to get advice from a consultant who specializes in cannabis laws and related issues.