The legalization of recreational marijuana use in California has presented many lucrative business opportunities within the cannabis industry. The Hill reports that Washington and Colorado surpassed one billion dollars in annual sales of marijuana in 2017 after legalizing its recreational use. California, by contrast, brought in two billion dollars of sales of medical marijuana in 2016. Cannabis business in California is projected to bring in five billion dollars in annual sales once the business provisions of the Adult Use of Marijuana Act take full effect in 2018.
Like any new business venture, however, new opportunities bring new challenges and expenses. For cannabis businesses which are prepared to manage these expenses, the opportunities can bring lasting cash flow to a growing industry. Continue reading