Mixing Cannabis and candy does not only satisfy people’s sweet tooth but ultimately fills the pockets of pot entrepreneurs with gold. There’s definitely money in Marijuana. As Cannabis has been legalized in more states in America, economists prospect that edibles will be a huge money-making scheme potential.
Studies showed that $180 million worth of Edibles were sold in California last year, accounting for the 10% of the state’s entire cannabis sales. Meanwhile, Washington incredibly increased its cannabis-infused treats sales by 121% last year! Colorado, who just came to the club of Marijuana legalization for recreational use, tripled its sales from 17 million to 53 million in 2014 to 2016.
Can you imagine the amount of cash these little candies could give you?
You cannot deny that pot has been attracting consumers even way before its recent legalization. This government action boosted the expansion of the pot market as it reaches more consumers especially those who don’t want to smoke. Smokers were even reduced from 21 to 17 percent in 2014. Consumers believe that edibles consumption is not only discrete but it also creates a smoke-free environment and is technically safer.
From lollipops to gummy bears, who would knew that these kiddie candies would be infused with an extraordinary ingredient that is readily available in the market for everyone? People are up for it, and entrepreneurs are ready for a huge financial growth. They account for 25 to 60% of a seller’s profit as edibles could be sold at a higher reasonable price.
A THC product founder, Matt Fosburg, believes that soon enough, high-end cannabis candies will dominate the market, thereby creating a world of Marijuana treats and delights. He added that quality and palatability of the product will be huge factors in having a competitive edge on the cannabis market. To achieve the ideal cannabis-infused chocolate bar he is pioneering of, he admits that the labor required is frankly intensive. The process of sourcing and roasting cacao beans and grinding and molding of bars for a couple of days needed a lot of effort. Nonetheless, everything would be worth it as a huge amount of cash will follow once these chocolate bars are released to the market.
Despite the appealing thought how edibles could bring someone at the peak of financial gain, the path towards it is not easy. Though it may sound so convenient for some entrepreneurs, the industry of edibles selling, in reality, is not an easy-money-get-rich-overnight kind of scheme. A competitive product is still the golden key towards the surmount of success.
In today's world, marketing strategies and advertising schemes could easily be done through social media platforms. Who doesn't have Facebook? Imagine advertising a product with just a click, millions of people could already see the things you would like to offer to them! Competitive products attract huge numbers of customers.
So if you are interested to be a pot entrepreneur or currently have a business related to it, this is one good news for you. This is only a stepping stone, and certainly, you still have a long way to go to build that successful business on edibles. Someday, the cannabis industry will be legalized everywhere and perhaps sooner enough, will be normalized as your daily treat consumption.