Buying Cannabis: Dispensaries vs. Starbucks

Buying Cannabis: Dispensaries vs. Starbucks

Many of us are already familiar with the fact that there are now almost as many cannabis dispensaries across US states as there are Starbucks outlets. According to a report titled “Cannabis Retail: The $23 Billion Opportunity”, marijuana dispensaries are just as successful and profitable as Starbucks. When we dived into the finer financial details presented in the report, we were rather pleased to find that dispensaries can easily turn a 12% profit margin after tax deductions – in line with the top retail companies in the US, including Starbucks. The report also highlighted the fact that by 2021, the US cannabis market will likely be worth approximately $23 billion, based on industry growth and current legalization trends. Roughly $15 billion of this will be attributed to the recreational consumption market, while the remaining $8 billion on average will be attributed to medical consumption. Even though there has been a slight downward trend in cannabis since August 2019, it is highly likely that by 2021 we’re going to see the industry bounce back with a bang. Hopefully by then, the global lockdown would have eased and it wouldn’t be surprising at all to see cannabis stores coming up to the same level as big-box stores that swept the US in the 1990s such as Starbucks and many others.  Many dispensaries outnumber Starbucks chains across the US Just two years back, Colorado was (for the third consecutive time) recorded to have more medical marijuana dispensaries than Starbucks outlets – in fact,…

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Source : seedman
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