In today’s world, medical marijuana may be much needed medicine to many sick patients, while to others it is very much a business – and a profitable one at that, for at least those who are running a successful operation.
However, as with any business, there are various ways to measure success. For some smaller companies, net earnings are the true benchmark of performance. In other words, the amount of money an owner can deposit in his or her personal bank account each month is the measure of success. For some large companies, especially publicly traded ones, year over year growth and efficiencies may be the gold standard of whether a business is doing well. At the same time, others will only focus on individual figures, such as return on investment (ROI) and monetization, even if that involves troublesome over-valuation.
According to a recent news feature from Forbes, owners of medical marijuana businesses are finding it hard to find an accurate measure of success. Part of the problem deals with a potentially inaccurate public perception of how the industry operates. Many people seem to think the vast majority of medical marijuana dispensaries are reaping huge profits. Essentially, people believe if that if you grow a few plants, the money will come hand over fist. However, as the article points out, those in the medical cannabis industry face a variety of problems those in traditional retail sectors never have to worry about.