People who closely monitor the news would notice that since the passage of Initiative 71, DC’s marijuana market has boomed. In November 2014, when DC voted to legalize recreational use and possession of up to two ounces of pot by adults over 21 years old, sales have grown steadily.
The Law Is Now In Support
Before Initiative 71 passed, the sale of marijuana was illegal in DC which made shops hesitant when it came to opening up. However, with the law now in support, many investors are getting involved. One example is Andy Williams, CEO of the Medicine Man dispensary in Colorado Springs. He owns a second shop in Washington so he can have a foot in the door now that marijuana is legal there.
More Accessible Than Ever
One of the reasons why DC’s market for cannabis products has grown is because it can be accessed more easily than ever. You can easily find marijuana near you while before, people could only purchase weed illegally, now they can buy it with much less difficulty or risk to them – making it an attractive product for many consumers.
After Initiative 71 passed, the District Council proposed regulations that would open up additional locations where medical patients could legally buy marijuana from non-medical dispensaries. The council voted on a proposal that would allow four new cultivation centers and five dispensaries around the city. This new legislation will provide entrepreneurs with a legitimate business structure to help maintain a steady supply of customers.
Also, seeing that marijuana is everywhere makes it seem like it’s something common or normal. With that said, more and more people are willing to try pot for the first time because they don’t see it as something bad anymore. As a result of customer demand for certain types of strains (e.g., high CBD), some dispensaries carry dozens of different kinds while others focus on quality over quantity by carrying only three or four. The customers have spoken and there is no need to keep pushing off the inevitable when you can please your potential customers right now.
Incentives To Invest
One of the reasons that the marijuana industry is booming in DC is because investors are incentivized to invest. With new legislation being passed, there are several incentives to get involved with dispensaries and grow centers. In fact, there have been about 140 applications for cultivating centers alone – a clear indicator that many people want in on this business opportunity.
As mentioned, there are now more ways than ever to get involved in the marijuana industry even without a dispensary. One such example is LeafedIn which connects buyers and sellers of weed.
It gives everyone access to product listings and menus along with comments or ratings from previous customers which makes it an ideal place for people who want to buy or sell pot in DC in a safe manner. For those interested in investing in the marijuana industry, this platform provides invaluable information that they can use in order to make informed decisions about what products to carry at their store.
More and More Dispensaries Are Opening Up
With more people smoking pot, there are more dispensaries popping up. There’s even one dispensary per every 11 pharmacies in the city now. The competition is certainly growing but so is the market itself as well as customer demand for different products.
Some dispensaries choose to specialize in certain kinds of marijuana products such as edibles or vape pens. Others may offer a wide array of items for those interested in trying multiple kinds before deciding what they like best. The larger variety of stores makes it easier for customers to find the exact product they want at a price they can afford which is great news for both dispensary managers and consumers alike.
Big Business Now More Than Ever
As mentioned, there are now hundreds of dispensaries that sell cannabis products around DC. Not only is this good news for the owners but these businesses generate jobs (and thus tax revenue) as well as stimulate other economic sectors such as real estate, agriculture, transportation, and more industries not yet imagined.
Now that people can buy weed even more easily than before, there are endless opportunities for entrepreneurs to make their mark in the industry. As a result, this has led to an influx of people who are willing to work in dispensaries or start their own businesses. No matter what your job is – whether it’s growing weed or providing transportation services – now is the time to take advantage of the pot boom.
High Market Demand And Customer Satisfaction
The marijuana market in DC is booming because there is high demand. As previously mentioned, more and more people are willing to try pot for the first time or indulge in their old habits again. This has led to an increase in dispensaries that sell all sorts of products from vape pens to edibles, concentrates, and any other cannabis-related products you can think of.
With all this variety comes greater customer satisfaction which leads to repeat business. For example, one dispensary owner said that 80% of his buyers come back at least once a week if not more often. This high market demand is great for business owners who are looking to make a profit but it’s especially great for any DC resident hoping to get involved in the industry.
All of these economic factors have contributed to one major factor – satisfied customers! Not only are people enjoying the quality of different marijuana products but they also appreciate being able to buy them with minimal inconvenience. The key takeaway here is that happy customers lead to more repeat business which makes it easier for dispensaries and growing operations alike to succeed in this marijuana market boom.
The marijuana market in DC is booming for a number of reasons, but it’s clear that the most important factor is the District’s recent legalization. There are many advantages to having legalized weed on your side, and with favorable legislation sweeping more states every election cycle, there are sure to be plenty of opportunities for entrepreneurs looking to get into this lucrative industry.