There’s a new product out there that has risen remarkably from $4.6 billion in sales in 2014 to $5.4 billion in 2015. Those 2015 numbers meant sales of this product were higher than those of Girl Scout Cookies, Pringles, and Oreos combined.
The size of the market is projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. And a number of celebrity endorsers have invested in this industry, including Calvin Broadus (aka Snoop Dogg), Nick Lachey, and Willie Nelson.
Big Dollars, Big Data and Mary Jane
Yes, the legal marijuana market is on fire, and is rolling up profits left and right. The states that have legalized marijuana are seeing big increases in new tax dollars—like the $70 million collected by Colorado in 2014-2015 fiscal year.
Old attitudes about weed are also going up in smoke. The US government may still regard marijuana as illegal, but today four states — Alaska, Washington, Oregon and Colorado — along with the District of Columbia—have legalized pot for recreational use. This is in addition to the laws in 23 states total allowing use of marijuana for medical purposes.
As more and more marijuana is grown and sold legally across America, more and more money is invested —which the investors hope will grow like, well, er, weeds. And not only money, but technology is being added to the mix by the pot entrepreneurs.
Jordan McHugh is the co-founder of Best Buds, a Denver-based marijuana dispensary. He is actively searching for investors to help get his mapping service improved, which can link those searching for particular strains of both recreational and medical marijuana to a particular dispensary near them. The goal is to bring 3 software d...
... middle of paper ...
...t you do, and no matter what size your business--small, medium, or large— you too can benefit from new technology. Change happens quickly, and sometimes it takes looking at a new business model that is growing rapidly to see just how important technology can be.
If you are ready to grow your business to the next level, you should know about 5i Solutions, Inc.
5i custom tailors technology solutions to your business environment, current workflows, and staffing levels. 5i can help you tame the paper pile-up, protect your vital data, and eliminate duplicate files. You can ensure that you are always looking at the latest version of each and every document important to your business. Track every change along your own supply line. And everything secured in the 5i Cloud Vault, available to you from anywhere in the world-- including on your mobile device—24/7, 365.
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