Medical and recreational marijuana have been legal—and their use normalized—for a while now in many areas, but there is still a bit of a stigma associated with this industry. As a result, many people have formed their own opinions of the industry, but in some cases, they are completely wrong. So your favorite Denver Weed Shop, Altitude, is here to dispel some of the more common myths that are associated with this industry.
It’s an Unrestricted Industry
This is actually the furthest from the truth since the cannabis industry is very tightly regulated. There is so much control, in fact, that in some states, sellers have to use special software to track every cannabis product from the time it is a seed up to when it is sold to consumers. There are few, if any, other industries with these types of regulations.
Players in the Industry Cannot Get Banking
When pot shops started opening up across Denver, it is true that there were issues with banking and payment processing. Cash-only sales meant there was a lot of green on hand—and not the kind you can smoke—which lead to shops getting robbed. But now there are financial institutions that cater to weed shops specifically, so it is much easier for companies to get depository services. This article by Forbes offers further clarification on banking in the cannabis industry: Dispelling Banking Myths in the Cannabis Industry
Prices Are Destined to Come Down
Some people think there is a bubble in the price of cannabis, which means those prices are destined to come down at some point. But the truth is that the cannabis industry is steadily growing and oversupply isn’t a big issue. Prices in the industry are expected to stabilize—particularly as recreational pot becomes legal in more and more states.
There Is No Room for Any More Players in the Industry
We saw it with the dot com players at the turn of this century—many coming out strong only to sink into oblivion soon after soaring to the top—and the weed business is no different. Those who are not afraid to innovate and improve to satisfy customers will likely stay on top. Others will fail. Those who stay focused, move slowly, and build a strong business will probably enjoy long-term success.
Whether you’re an investor in the cannabis industry, an aspiring entrepreneur, or a member of the general public living in a state where marijuana is legal, you should stay current on the latest in the industry so you can make an informed opinion.
Visit a Denver Weed Shop
We welcome you to come to any one of our three locations (Aurora, West Denver, and East Denver) to purchase marijuana and marijuana-related products. If you have questions, our friendly budtenders will be happy to answer them. Be sure to visit our specials
page before coming in so you can take advantage of discounted items. Specials change regularly, so be sure to stop back often. Come visit one of our shops today!