marijuana

Dispensary News for the Marijuana Industry

The sales of medical and recreational Marijuana in the US is expected to hit $5-$6 billion this year. Researchers say that by 2021, it will be high as $17 billion. It’s a great Dispensary News for the Marijuana Industry and for people who are looking forward to going in this.

The main reason behind the rapid rise of Marijuana sales in the US is its legalization. The editorial director of Marijuana Business Daily says that there will be immense opportunities for both existing marijuana companies along with the new startups.

Growing Sales for Pot Shops Industry-Wide

In 2017, the sales have increased from $4-$5 billion from the last year. This year, recreational shops alone are generating $2.6-$2.9 billion of sales whereas medical shops can generate about $2.5-$3.2 billion. It is not uncommon today to have a Las Vegas dispensary generate annual revenue well over $10,000,000.

The market is growing at a rapid pace in Oregon, Washington state, Alaska, Colorado and other states as well.

This is amazing Dispensary News for the Marijuana Industry and the dealers.

The industry will further flourish in the coming years, when all the 11 states who have passed the marijuana-related rules and regulations, will come online for its sales. There is a chance that these states by 2021, will solely generate more than $7 billion or even more in a year.

Some of the major facts are:

• Approximately half of the revenue generating Marijuana companies are working actively to raise their capital or planning to do so by the end of this year. The conditions may vary from company to company, as some are looking for capital to pay their bills till they generate profit, some need to capital to upgrade their labs for testing, etc.

• Regarding profitability, though dispensaries and other recreational stores have a profit margin of 19%, they are doing well. As compared to the traditional economy, these margins are high but still, the retailers get a small profit from any of the marijuana industry.

• Most infused product companies are manufacturing more than one type of product, focusing majorly on edibles and concentrates. Only 25% companies are choosing to produce a single category. You will find a lot of infused businesses selling topical but will find only 6% selling topical exclusively.
Still, the legalization has increased the demand for Marijuana in the US, which opened several opportunities for the new startups. It’s one of the biggest Dispensary News for the Marijuana Industry.

Medical Cannabis Users More Likely to Use Edibles

Medical Cannabis Users More Likely to Use Edibles

Since the state of Washington legalized recreational and medicinal cannabis sales, purchase, and possession by anyone 21 and older, the sale of edibles has boomed. Though there are some fairly strict regulations on it, and it is still illegal at a federal level, Washington doctors are permitted to prescribe cannabis use, as it is a legit therapeutic treatment. More patients who use cannabis prefer it in an edible form—not just because there is no smoke or they want to be more discreet, but because the effects are different. Cannabis-infused products tend to be more potent, so more caution is needed when using it. If you’re in Washington and have been thinking about whether medical cannabis or edibles might work out for you, it’s helpful to know more about it.

West Seattle marijuana use has skyrocketed along with the popularity of edibles. Some of the most popular forms of edibles include, chocolates, gummy bears, cooking oils and  beverages.

For those of you unaware here is the difference between smoking cannabis and consuming edibles.

What to Know

Edible cannabis is legally available through licensed retailers or those who comply with Washington’s laws regarding license, production, packaging, and sale of the product. It’s still against the law to drive under the influence if you have more than 5 nanograms of active THC per milliliter of blood, and you can’t cross state lines with it or use it in view of the public, or you may have to pay fines or risk some jail time. Also, only adults age 21 and older can purchase and possess marijuana—up to 16 ounces of marijuana-infused edibles in solid form.

The Benefits of Edible Cannibis

Medical cannabis has helped ease chronic pain for centuries, which is why Washington and more states are increasingly in favor of legalizing sale or prescription of it. There are some conditions where it can be somewhat dangerous, but doctors can help you to know about it more so you can choose if it’s right for you.

Medible users often prefer it over smoking cannabis for multiple reasons that include:

  • No smoke or smoky scent
  • The taste
  • It can be used more discreetly

Medible Safety

Sometimes children and pets might not know the difference between a yummy treat or a medible, so it’s best to observe some basic safety tips so that neither your children nor your pets overdose or get really sick.

  • Keep all edibles in original packaging and make sure when you purchase it that it is clearly labeled as a cannabis product
  • Store it in a child-resistant container
  • Keep it in a locked cabinet built by a licensed contractor

Washington has changed the rules on packaging to help consumers with children not mistake it for regular candy, and to make the dosage clearer to adults, but it’s better to be safe than sorry. If you’re interested in medibles, ask your doctor and diligently research everything you need to know.

Cannabis Laws in Washington You Need to Know

Cannabis Laws in Washington You Need to Know

Washington was the second state after Colorado to legalize recreation and medical marijuana, now cannabis tourism has become big business to Washington.  Before you pack your bags there are some things that you should know.  Let’s go over the laws governing marijuana in Washington and what you can and can’t do.

Buying Cannabis in Washington

This is treated much like alcohol in that you need to be 21 and you need valid photo ID, it can be from any state or a passport will work too, to purchase cannabis legally in Washington.  Some municipalities weren’t quite on board with the new state legislation and they have banned dispensaries within the town limits.

What is considered “cannabis” is also going to include edibles along with lighters, bongs, pipes or whatever you may need to smoke it.  Most dispensaries will have everything available to you.  Once you have everything and you’re ready to light up be very aware of where you are, you can’t smoke in a public park, near a school or near public transportation.

The Limits

Legalization doesn’t mean you can go out and buy a pound of pot to get you through the winter, you can only have an ounce of bud, concentrates must be less than 7 grams and liquids cap out at 72 ounces.  Amounts above the limits are seen as “intent to sell” and you can still go to jail for that.  If you are buying medical marijuana you get a bit more leeway and you can have as much as 24 ounces of bud or 15 plants provided you have a valid prescription.

Smoking Pot

First and foremost you need to know there is no smoking in public places period.  As far as private property goes there are rules too, if your property is near a public space where people can smell it then smoking is a no-no.  You can light up in your own home, at a marijuana social club or even a hotel that is friendly to pot smokers.

Driving While High

Don’t do it.  In the state of Washington if you have more than 5 nanograms per milliliter in your bloodstream then you’re driving under the influence.  If you are arrested in Washington and you’re the driver that means you consent to drug testing.  Refusing the test won’t necessarily save you, you can still face jail time.

Transporting Marijuana

You cannot send marijuana out of the state, that is illegal.  You can’t carry it across nor can you mail it to someone, if you try both you and whoever receives the package are both looking at jail time.