Diversity in the Cannabis Industry
The marijuana industry has skyrocketed over the past few years if not a decade. However, it is undoubtedly frustrating that there are instances of criminalization among most nations. It is only recently when the Texas House voted to tweak the story from jailing low-level possessors of marijuana to fining them.
Going by statistics, approximately two-thirds of American citizens support the narrative of federal legalization of marijuana. We at Flower Children & Co. lagging behind as well. There are a plethora of benefits that will be enjoyed when the entire dream comes into reality. Unfortunately, the effects of the war on drugs have taken a toll on the industry which as an end result means actualizing the legalization dream is proving daunting. It is important to emphasize the owners of legal cannabis businesses are 80% White with 20% being other ethnicities. Business wise, allowing for diversity in the marijuana industry can give merits like:
1. Overall economic growth
In any business, diversity works positively in raising the economic standards to those involved. The same case applies to those in the marijuana industry.
Different marijuana consumers have different tastes and preferences. Where there is an involvement in diversity, it means the users can go to different cannabis dispensaries or budtenders who deal in their respective choice of products regardless of their origin and place of business. This way, the industry grows even more and leads to a realization of a stable economy. As there is more satisfaction among people, there is thunderous productivity in workplaces attributable to relaxed brains. The entrepreneurs also have something to keep them busy, yet living a somewhat high-quality life after interaction with purchasers from different geographical regions.
2. Creation of a wider array of customer base
As more products get availed in the market, the demand and supply graph goes up. This is so true when it comes to the legalization of the marijuana industry and allowing for diversification among the employees and the investors.
Where there is an involvement of diversity, customers may try out different products from different budtenders and see what works perfectly for them without any fear. Investors of color may also end up familiarising themselves with the whites and get long term buyers from the same. That is solely dependent on whether the seller meets the needs of the buyer. As a stronger foundation of customers gets built, it is the ideal period to lead to innovations in the marijuana industry and use the end products to create different items.
3. Change of narrative
The lack of diversity in the marijuana industry is among the most common issues that give misconceptions about the consumption of marijuana. For instance, there are some communities that have an unshakeable believe that marijuana takers are disorganized and callous. Where there is diversity, clearing the air on the benefits and all other needful pieces of info about the niche becomes possible. That way, purchasing the products for either medical or recreational purposes is a dream-come-true. Diversity may also change some stereotypes that the natives of color may fail to afford some of the products. That way, investors may find themselves setting up their businesses near them and selling to them medical marijuana.
4. Higher levels of creativity
Diversity may help in coming up with other ways to use marijuana. It may happen in the cases where there are relatively stiff competition and the dire need to do things differently knocks. That being said, the business owners get pushed to improve the existent products. The end result may lead to more viable marijuana that offers much more effects. Investors may end up reaping substantial amounts of cash irrespective of their skin color.
5. Unbeatable advantages to all the stakeholders
Growth in the marijuana industry obviously means that all those taking place in the same reap big. The consumers benefit after being saved the hassle of having to go to distant places to have their needs met. The same case applies to the owners of those businesses. When it comes to the government, it also benefits by and large after taxing its share from the involved business owners. However, that can only happen where diversity in the industry is the talk of the day. The government may also benefit where the citizens have a stable flow of income since the cannabis industry is inexhaustible.
Flower Children & Co. knows what works where and how. With more marijuana admirers each other day, it is worth mentioning that they all have different expectations before and after taking any of those derivatives. To attain this reality, we perfectly know that the only solution is having marijuana legalized and diversity fostered so as to see any of the fore-mentioned merits. It is ideal to free up entrepreneurship chances to all interested parties.