Cannabis Business Trends for 2016… So Far

The cannabis business industry has seen plenty of development in 2016 – and we expect to see much more in the coming months. Here are some of the top trends HerbFront has seen so far.

 

1. Technology is leading the way – and overcoming roadblocks
As industry leaders discussed at a recent Canna Tech Chicago meetup, technology is at the forefront of the cannabis industry. As organizations take to social media to discuss the legal developments surrounding medical cannabis, business leaders face hurdles like having their Facebook pages shut down.

Meanwhile, technology is also making it easier for cannabis businesses to stay on top of changing laws. Look no further than HerbFront, the nation’s first real estate software for the legal cannabis industry, which allows entrepreneurs to search for zoning-approved business locations in more than 140 cities.

 

2. Cannabis laws are being clarified

As new states begin to explore offering medical cannabis as treatment for their state’s patients for a variety of conditions, states that already allow medical cannabis businesses are beginning to clarify and expand upon their laws.

“As lawmakers clarify what type of businesses [medical and recreational] can exist and where, we’re seeing places with massive populations like California with a lot more at play,” Matt Chapdelaine, HerbFront co-founder and CEO said.

 

3. Established cannabis businesses are expanding

In bigger states like California, it’s becoming a trend for cannabis business owners to open multiple dispensary locations, Chapdelaine said.

He added that some business owners are even expanding into other states.

 

4. The culture of the industry is still being defined

“This is an industry that’s totally undefined. There are no norms or customs right now, and we’re setting the tone as we go. They call it the green rush.”

The cannabis industry is still developing ways to talk about itself and finding its place in the economy and popular culture. If you’re thinking about joining now, you can help define an industry.

 

5. Financial backing is becoming more available

With services like HerbFront Capital, entrepreneurs have more opportunities to join the green rush. Celebrities like Willie Nelson and Seth Rogan are high-profile investors in the legal cannabis industry.

Just like any other industry, cannabis businesses are supported by accounting and real estate professionals who can help small business owners make good decisions.

Subscribe to HerbFront today to keep up with cannabis industry real estate developments in your city.

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