As we all know, even after legalization of recreational cannabis in USA, cannabis market has a lot more tough and trickier road to track. One of the key issue in it is stiffer and stricter regulations implied in our current laws.
Well, some of groups and organizations have shown ample of courage to do hard work like bloomshower.com does. But yeah, there are some key challenges which are still associated with this market and such businesses; so let’s take a look at those challenges.
Tough and Stricter Laws & Regulations
If you’re planning to dive into cannabis business then believe me, there’s a lot of headache associated in it. Yeah, while people are want to get a deep dive, authorities and laws always have a close look over them to keep them on track with stricter rules and regulations. Well, if you’re thinking that now recreational use of cannabis is legal then bear in mind that it’s only for medical reasons. So yeah, people working at bloomshower also bound with the same limitations. And, they follow it to the core.
Moreover, if laws get a bit liberal and adapt some changes then this industry could get a boom with no time for sure.
Establishment as Corporate Brands
While other big players on the market have succeeded in getting listed in NASDAQ and OTC, there are many small players on the market that are waiting to enter into it but lacking either resources or some establishment. So yeah, for small players it’s a lot tougher to get established as a corporate business in cannabis market. Moreover, people have started growing cannabis indoor with help of some affordable LED grow lights after legalization of recreational cannabis growing among few state.
Imbalanced and Uncertainty of Market
While all other businesses are driving due to fully legalization, cannabis business have a lot of issues associated with it. And hence, with time and changes in politics and ruling parties, there are probable changes being predicted by experts. So, for newly established businesses and business owners it’s a kind of high risk high return strategy. Also, for these kind of businesses there are a lot of tax issues associated with it. So big players are getting advantaged there while small players may get vanished in no time due to this complete uncertain and unpredictable nature of the market.
No Goodies as Freebies
Yeah, while old regulations was allowing to give medicinal marijuana as help, according to new rules it’s not permitted. Now, there are permanent and fixed taxes associated with it so no businesses or companies are allowed to give you anything for free if it’s in some way relevant to CBD or marijuana.
Everyday a New Dispensary Chain
Yeah, competition in cannabis business is going cutthroat day by day and hence everyday you’ll notice one new dispensary chain taking place on the market. There are many big brands which are open for new hands and are weeling to expand their business. In such occasion, for small dispensaries and newly emerged business it’s became a lot more tough to survive and thrive. So yeah, in such competitive market it’s not just tough but almost impossible to reach dream heights of success.
As said earlier, survival in cannabis industry is becoming painfull and tougher day by day with above mentioned key issues. Though, those are not issues to be honest, those are challenges that are part of any business. But yeah, one thing is for sure that big players of the market will taste the honey while small biz owners will have to manage somehow with sugar and water. But cannabis industry will still continue to thrive and will cater to medicinal demands of the market for sure.