Have you thought about it? There are now 5 states on board for recreational marijuana, 3 for medical marijuana and the list is growing larger every time we turn on the news. What does this mean for local businesses and crime?
Well, first off – let’s think about local economies, jobs, and start-up growth. We all know, with new dispensaries comes a long supply chain of other amazing opportunities for other new small businesses. Dispensaries need outside sources for their software, their transportation and cultivation! This is a clean opening for several new jobs and career opportunities for those interested in the industry!
Simple supply and demand – if medical marijuana is legal, demand increases thus forcing supply to increase, and entrepreneurs love it. Bam: a business opportunity. This industry is still relatively new, so the first ball players really have the market on their side. With competition comes competitive pricing, making you, the buyer, a happy camper. Don’t worry, theses dispensaries are still making their money because everything is a cycle. Their software companies, transportation companies, cultivators are all experiencing the pressures of the market. To broaden their horizons and to stay competitive, they will eventually drop their prices if the market cooperates.
Will crime diminish? Eh, hard to say, but some studies show that street violence may drop. When pot is illegal, people handle their “business” disputes personally, which may result in violence because it’s not like they can call anyone to mediate (the cops). If people can utilize safely regulated dispensaries, some of the crime may dwindle away.
Also – if the government could tax ONE more thing, it would surely keep them satisfied. So if pot were legal, state governments can (and have been), taxing it just like tobacco and alcohol, generating a brand new stream of revenue. Hopefully we can get some of these pot holes fixed.
See what I did there?