1. The opportunity that I would like to pursue is to open and run an legal marijuana store in a state that has just passed laws to legalize recreational marijuana use. I believe that this is a great opportunity to be successful because the global cannabis market accounted for over 10 billion dollars in 2017 alone. Research shows this market trending upward exponentially in the future as well.
2. The who: People that enjoy recreational/ legal cannabis usage.
The what: People are unable to use cannabis openly due to its legality.
The why: Our country is yet to legalize recreational cannabis, only some states have done so already.
3. My hypothesis is that if I can open a recreational marijuana store in a state that has just passed legalization laws, or a state that has already legalized its recreational use, I can make a considerable amount of money. According to a 2016 CBS news article, "one in five adults under 30 is a pot smoker."
4. Interview 1: Female, age 48, Location: Boca Raton, FL
This person told me that she is a regular cannabis user. She said that she uses it around 3-5 times a week. She agreed with me that opening a legal store would be a great business, due to the sheer amount of adult cannabis users.
Interview 2 & 3: Male/Male, age 21 and 22, Location: Gainesville, FL
These two kids both stated that they believe that many young people of legal age would go to a cannabis store in a legalized state. One of the kids uses cannabis, and one does not. Although one does not use, he believes that a legal store would be extremely successful due to the amount of college students and young people that use cannabis (of legal age).
Interview 4: Female, age 21, Location: Boulder, Colorado
This person does not personally use cannabis but says that a lot of her friends do use it for recreation. She believes that the industry is growing each and every year, and that opening a store is a great business idea.
Interview 5: Male, age 73, Location: Boca Raton, FL
The person has grown up using cannabis, and does not see it as a bad thing. He grew up in the drug experimentation "hippie" age, and he thinks that cannabis is great. He believe that opening a store is a good idea because there are a lot of older people who grew up using cannabis that would go buy from a store.
Overall, I found that a lot of people do in fact use cannabis, and would enjoy legalization of its recreational use. All of the people I interviewed believe that opening a store in a legal cannabis state would be a great business opportunity. I learned that people of all ages would enjoy recreational cannabis use, not just younger people. Now I realize that this business can target a more generalized group of people, rather than a smaller, more niche group of people.
This is a great opportunity to make money, as you said, a lot of people are in the market to buy cannabis, even more so if it is legalized for recreational use. However, the downside is that either you have to move to your market, or you have to wait around for the state you're in to legalize the recreational use of marijuana before you are able to profit from your business idea.
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