3 Reasons Cannabis Investments Are a Good Idea
Financial analysts aren’t calling legal cannabis the “Green Rush” for no reason. With legalization still in its infancy, investors have the opportunity to get in on the ground floor of a burgeoning industry. However, if you aren’t a seasoned investor, or maybe you’re unfamiliar with the cannabis industries, you may be wary of the opportunity.
That’s why we’ve compiled a list of three comprehensive reasons cannabis investments are a good idea. Continue reading to learn why investing in the “Green Rush” is worth your time!
1. The Early Stages of a Behemoth Industry
First and foremost, we are in the infancy of what’s predicted to be an extremely profitable industry. In fact, studies estimate that the marijuana industry in the United States could exceed $57 billion in profit by 2030. With such immense growth in the forecast, it only makes sense to invest in cannabis while it’s still in the early stages of its legal existence.
2. Investment Options are Boundless
As the industry begins to grow, investing in cannabis will continue to offer more and more avenues of capital. While investing in dispensaries seems like the obvious choice, there are several other alternatives in cannabis that offer lucrative financial assets. Here are a couple investment options to explore:
- Growing Operations – Investing in companies that cultivate cannabis before selling their product to dispensaries can be an excellent segue into the industry.
- Product Manufacturers – Manufacturers are vital to the industry because they provide packaging and labeling for cannabis products. Not to mention, many companies also manufacture paraphernalia necessary to use cannabis.
3. Some Risk, But High Returns
As with any investment, there are bound to be risks. In particular, the legal marijuana industry remains a cash business at the moment, as dispensaries are unable to receive loans, accept credit cards, or open bank accounts. While there is risk involved with investing in a cash business, this is likely to change as congress attempts to pass the Secure and Fair Enforcement (SAFE) Banking Act.
Despite this potential risk of investing, the possible returns of the cannabis industry far outweigh any liabilities. The fact of the matter is, legal cannabis sales are expected to explode in the coming years, so investing now will grant you early access to a booming industry.
Explore Cannabis Investments with Herban Creative
As New Jersey’s premiere cannabis advertising agency, Herban creative offers unrivaled insights into the cannabis industry. Whether it’s through our blog or speaking directly with our team, we can help you navigate legal marijuana in New Jersey. If you’re an established cannabis company or looking to break into the game, don’t hesitate to contact us!
Why Cannabis Dispensary Advertising is a Must in 2023
With the rise of recreational dispensaries continuing to expand across the Garden State, it’s no secret that adult-use cannabis is taking New Jersey by storm. In fact, in April of 2022, dispensaries collected a staggering $24 million in just their first month of sales.
Considering these statistics, combined with the ever-expanding collection of cannabis-related companies throughout the state, dispensary advertising has never been so critical. Of course, the average cannabis consumer doesn’t equate the free-spirited nature of marijuana with the white-collar perception of advertising, but in today’s cannabis landscape, the two are inseparable.
Whether you own a dispensary or you’re eager to embark in a career in the cannabis industry, now’s the time to invest in dispensary advertising. Not only will advertising expand your company’s reach, but full-service marketing agencies, such as Herban Creative, can elevate your dispensary’s online presence.
With the new year just around the corner, marijuana marketing has never been so necessary. Continue reading to discover the countless benefits of cannabis dispensary advertising in 2023.
1. Take Advantage of a New-Born Market
While statistics prove that cannabis dispensaries are thriving in New Jersey, there still only remains 19 recreational dispensaries across the state. In fact, reports show that New Jersey still has the least amount of dispensaries per capita, compared to other states with adult-use cannabis. With that said, this is the most opportune moment for New Jersey dispensaries to capitalize on a burgeoning market that has yet to be monopolized by a dominant brand.
One of the most effective ways budding dispensaries can take advantage of this new-born market is to invest in cannabis advertising immediately. Through high-quality video content, engaging social media activity, and a dynamic cannabis marketing strategy, you can differentiate your band and build credibility before the market becomes too saturated.
2. Educate Your Consumers
In terms of building credibility in the cannabis market, dispensaries must ensure consumers that their products are not only of the highest quality, but that they’re safe. While marijuana has been a popular fixture in the United States for decades, the fact that it was an illegal drug makes many potential consumers apprehensive about trying it. Therefore, it’s essential that dispensaries educate their consumers about the science of the plant, its health benefits, and how to responsibly consume the plant.
One of the most effective ways to educate uptight consumers is through dispensary advertising. Creating informative content, whether it’s educational social media posts, engaging video content, or informative blog posts, marketing tactics will help build credibility among doubtful consumers. And in return, your cannabis-related company is destined to see increased sales and revenue.
3. Legitimize Legal Cannabis
Other dispensaries aren’t the only competition for cannabis-related companies in New Jersey. In fact, recreational dispensaries continue to struggle with attracting customers who prefer purchasing marijuana from street dealers because they offer lower prices than the typical dispensary. Plus, with the limited number of dispensaries in the early stages of legalization, many smokers aren’t willing to make the trek to the nearest dispensary.
So, how can dispensary advertising help defeat competitors on the street? Once again, it comes back to quality and education. The consumer needs to be convinced that dispensary products are not only way more effective, but they’re drastically safer than street products. To help educate the public, cannabis companies must invest in dispensary advertising in order to spread awareness about their products. Fortunately, there’s countless gems in cannabis advertising you can take advantage of, including storytelling, keeping up with online trends, and working with publishers.
Full-Service Dispensary Advertising with Herban Creative
Whether you’re a car dealership or a cannabis dispensary, good business begins with a strong marketing campaign. However, in cannabis especially—a budding enterprise with tremendous upside but unique challenges—effective advertising is vital. At Herban Creative, we’ll work side-by-side with your team to devise a cutting-edge advertising strategy that will catapult you past your competitors. Ready to get started? Contact us today!