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Why Legal Cannabis Is 2015’s Best Startup Opportunity
Every entrepreneur dreams of discovering an untapped market where they could start with a low investment and build a huge business. If that’s you, consider the developing legal marijuana industry.
This sector is growing faster than ganja under grow lights.
The best part is, it’s early days for this — cough — budding sector.
Marijuana is now legal for medical use in just 23 of the 50 states, and will soon be legal for recreational use in four — Alaska’s law goes into effect later this month, Oregon’s in July, and in Washington and Colorado, it’s already legal. Alaska’s addition to the legal-pot state roster has some wags dubbing the legal-pot opportunity the “Green Rush.”
Now that full legalization is spreading from state after state, many sector observers believe it’s just a matter of time before more states get on the bandwagon, and before marijuana becomes federally legal. The spread of legalization will open up huge new markets — and startups that get going now will be ready and waiting to take advantage of the increased demand.
The U.S. economy doesn’t spawn an entirely new industry very often, and legal pot may well be the best ground-floor opportunity we’ve seen since the early days of the Internet. While there are some established companies in this niche already — especially in Canada, where medical pot has long been legal — new figures from the Marijuana Business Factbook 2014 map reveal how young most cannabis businesses are, and how quickly they’re becoming profitable.
Read the rest of the article at Fortune
Celebrities look to cash in on a growing industry while entrepreneurs hope famous names will help their products stand out in a crowd.
While the alcohol industry has long had celebrities like Sean “Diddy” Combs and Bethenny Frankel endorsing brands, we’re just starting to see marijuana brands endorsed by musicians, actors and, well . . . Bethenny Frankel again.
Entrepreneurs across the U.S. are flocking to the burgeoning cannabis industry as more and more states pass legislation legalizing the sale of marijuana in some form. That proliferation of pot-related businesses means that business-owners are scrambling for ways to make their brand stand out in the minds of consumers. Cue the celebrities, who have been popping up across the marijuana industry recently with product endorsements as well as their own pot-related brands.
When you think of celebrities and pot, a host of well-known weed advocates likely spring to mind. Music icon Willie Nelson is an outspoken supporter of marijuana legalization who often throws his support behind political candidates with similar views. Meanwhile, actress and co-host of The View Whoopi Goldberg penned a column last year that details her love of her vaporizer pen — a tool for inhaling weed and other herbs — and comedian Sarah Silverman even showed off her own “vape” pen on the red carpet before attending last year’s Emmy awards.
In other words, there seems to be no shortage of celebrities who would surprise no one by jumping into the legal pot business. Here’s a look at several famous names who are already looking to cash in on the “green rush”:
Read More at: Fortune