The nationwide trend to allow the legal use of marijuana for medicinal purposes has helped breathe some life into some existing smoke-related businesses as well as giving rise to new. For many businesses that have been legally producing products for quite some time now, this trend of legalizing marijuana has led to a welcome spike in sales.
One could argue that the doctors who issue licenses to use marijuana and the dispensaries that legally sell the plant products are not exactly legitimate businesses, but what about others that are prospering right now.
Hydroponics growing systems and lighting for growing plants indoors have long been completely legal products that have been marketed to people looking to grow vegetables or herbs indoors. The movement to legalize marijuana, at least for medicinal purposes, has created a new demand for products that are used to grow the plants and yield the “flowers” that are so much in demand.
According to IBIS World, the hydroponics growing equipment stores industry has experienced annual growth of just under 8% during the past five years. This industry that only includes the stores that sell the equipment has just under $550 million in annual revenues. The trend shows no signs of slowing and the industry is still primed for further growth.
On another front, health concerns arising from the inhalation of smoke in tobacco, herbs and of course marijuana has really benefited the vaporizer industry. The cleaner and more efficient vaporizing devices have been around for a while, but legalization of medicinal marijuana opened the door to this industry. Many of those fighting cancers and other illnesses that wanted to use marijuana were in need of healthier ways of getting the active ingredient or THC from the plant.
Vaporizers either heat the plant material or oil until it vaporizes and releases the active ingredient or force super hot air over the material in order to achieve the same effect. They come in all shapes and sizes and filling up a whole store with inventory is actually possible to do. There are so many models on the market that there are even vaporizer reviews touting the benefits of the various types and brands.
When Hollywood celebrities are photographed using portable vaporizers to smoke tobacco, a business that sells or distributes them will certainly have a healthy future.
These industries and more related to supporting the production, storage and use of marijuana products offer hot opportunities with several entry points. It might be time to notice that marijuana legalization has a greater chance of expanding than retracting.
From growing the plants to burning them, there are opportunities for anyone looking to have a business with a perceived higher than normal risk.