As many states started to legalize the use of cannabis as medical or recreational consumption, many people also think about having cannabis businesses. By having so many local growers in different states, the cannabis seed business is considered vital in the cannabis industry. Cannabis seed businesses begin to have a connection with both online and distributors to fulfill the needs of both the legal and black markets.
As cannabis seeds have the ability to produce different breeds of cannabis plants, cannabis seed businesses also rapidly evolve its demand. According to research, legal sales of cannabis seeds is expected to increase for about more than 15 to 20$ billion for the next three years.
What Are Cannabis Seeds?
Cannabis seeds are where everything starts. Cannabis seeds are commonly known as “Marijuana Seeds” and are categorized by their genetics, plant sex, name, and other attributes. A cannabis seed business can start by anyone as long as the legalization of cannabis is offered in your state.
The demand for weeds is very high nowadays, that’s why many growers of cannabis have expanded and hired tons of more growers. Those cannabis seed businesses in the world have a higher tendency to innovate due to the demand.
Different Types of Weed Vendors:
- Breeders are the one that cross-breeds the strains to create a new kind of strain. Those breeders can actually work with other seed companies, but they can also work with their own experimentations of strains.
- Resellers are the one that buys the product but at the same time, sell the product at higher prices. This type of weed vendors can commonly be found in the black market.
- Seed Companies
- Seed companies are the one that produces the seeds itself. It is where a large number of cannabis seeds were being found. They produce tons of cannabis seeds for the growers.
Facts About Cannabis Seed Business
Here are the surprising facts you may know about the cannabis seed business.
1. Cannabis Seed Companies Start to Emerge
Due to the undeniable rise of the demands of marijuana, new cannabis seed companies have been established in different areas in the world.
2. Cannabis Seed Companies
Cannabis seed companies are the ones who produce and sell seeds. Most of the cannabis seed companies are based on Spain and the Netherlands as they have more permissive laws compared to other states. Moreover, you can see large scale cannabis seed companies in Europe where it has around 122 companies located in such a state.
3. Six More States Begins to Set Recreational Weeds
As stated by the Marijuana Policy Project, six more states begin to legalize recreational sales of cannabis, which include Washington, California, Alaska, Colorado, Oregon, and even Nevada. Adults that have the age of 21 and up can legally own up to 50 grams of cannabis, which they can be able to cultivate up to six plants directly to their home, which is legal in Washington DC. Selling of cannabis is also considered as not legal in the capital of the nation.
Since the first week of July, all adults who are 21 and up can buy cannabis for recreational use in cannabis stores in Massachusetts. While in Maine, they already authorized recreational cannabis, and lawmakers are still working for the constitution to build a controlled cannabis market.
4. Cannabis Seeds Make A Great Collector’s Items
Some of the world’s states have advised its citizens to buy their own cannabis plant for just a collection in their own homes.
5. Columbus Took the Cannabis Seed to the New World
Christopher Columbus was the first person who is believed to have smuggled cannabis to the Americas or United States. It is the same scenario when he brought tobacco from Europe.
6. Seed Companies have Opened New and Original Jobs
Due to the demand for marijuana, the seed companies have increased employment very rapidly.
7. Legalization of Cannabis Seeds
Not all states legalized the growth of cannabis seed, so be familiar with those states.
8. Many Commercialized Cannabis Seeds are Feminized
They are more likely to produce female plants than male plants.
9. The Majority of Cannabis Seeds in the Market are Hybrids
Cannabis seeds have been found in different archeological sites. They have been found in Viking ship burials.
10. Cannabis Seeds Were in the Process of Innovation
As there is cannabis tourism nowadays, many of the businesses related to the cannabis industry are in the process of innovating. By innovating, it allows the capacities of the cannabis industry to expand.
11. Big Opportunities in Cannabis Spotted in Canada
Since Canada started to legalize sales and recreational cannabis use, many American cannabis businesses have distinguished and planned for more international cannabis expansions. Few companies have already tried to reverse-takeover allocation to start marketing public stocks in other states like Canada.
12. Legal Sales of Cannabis Seeds may Double for the Next Few Years
Yearly market sales of cannabis seeds and products are looking forward to rising up by up to 50 percent, possibly reaching about 10$ billion by the next few years, based on the Marijuana Business Daily.
13. Cannabis Businesses to Produce Organic Certifications
Since not all states approve and legalize recreational and medicinal cannabis, it still cannot be labeled as certified organic by the United States Department of Agriculture compared to other plants. However, the cannabis industry produces its own certifications, which verified the real growing environments that separate them from the opposition.
14. Assists for Authorized Legalization Is Secured
Based on the Gallup Top World Findings for 2018, assists for lenient cannabis guidelines reached a new high for about 65% of different Americans acclaimed that they wished to legalize cannabis up to the national extent. The year before California allowed medical cannabis consumption, each year, the support increases by up to 20%.
15. Cannabis Business Needs to Deal with Cash Payments
Since cannabis is still not legal for all states, most banks in the whole world are still not authorized to give financial services to cannabis shops and other business-related. Because of this reason, cannabis businesses are forced to deal with cash payments. However, there are still some states that compiled the bills which serve to free up banks to work with cannabis businesses.
16. The United States Cannabis Market Rose Up to $50 Billion, but Most of the Sales Came from the Black Market
Based on one of the reports in Market Research, the United States cannabis market evaluates $50 billion in sales in the year 2016. However, legal cannabis sales only reach $6.2 billion in eight different states with completely legalized cannabis consumption and 28 more states, which allowed medicinal cannabis. The remaining sales came from black market sales, which are said to be sales from the illegal market.
17. The Different States will be Expected to have an Additional Full-time Job for the Next Three Years
As stated by Marijuana Business Daily, cannabis businesses are currently employed up to 160,000 full-time workers. By the next few years, many states expected to add more than 300,000 full-time workers based on the estimated growth of the cannabis industry per annum.
The job descriptions to be expected are managing areas, from people that grow cannabis plants or those who work from additional businesses that do not necessitate direct contact from cannabis, which furnish just legal amenities. As the cannabis business industry grows rapidly every year, demand for many cannabis jobs is expected to rise up to 80% by the year 2022.
18. Cannabis Businesses Required to Recompense Associated Taxes
Even though the federal government still does not acknowledge cannabis businesses as legal matters, they still collect earnings taxes based on the tax code assistance known as 28oE. This tax code necessitates all the cannabis dealers to pay tax from their direct sales of restricted materials.
19. Cannabis Learning Extent
Cannabis industries provide higher educational learnings to many cannabis workers. These workers include producers, medical consultants, and cannabis processors who can acquire higher educational degrees as proved for their knowledge about laws and cannabis treatments.
There are specialized online schools such as THC University, which is focused on cannabis education. Moreover, other schools in different states have additional departments that teach cannabis subjects.
20. Risk on Theft Stimulate Safety Investments
Since cannabis businesses operate via cash-only payments, they are distinctly prone to robberies and theft. Anyone can have access to online stores and growers. Many thefts can easily locate stores that operate cannabis businesses. As a result, many cannabis businesses are required to invest stronghold-like materials and tricky access in narrating for security threats.
Cannabis seeds contain many properties that may be used for different purposes. Cannabis seeds were the source of everything cannabis and cannot be diminished as time passes due to the rise of demands. The cannabis seed business industry has been researching how to expand more and cultivate more strains from seeds.
The cannabis business is currently exploding from the past years, and legalization also grows as new states begin to acknowledge cannabis consumption. In different places in the world, there is this growth of new cannabis seed companies that become the growers’ sources. The big scale businesses help small-scale businesses grow bigger by simply giving high-quality cannabis seeds to be grown.