The Weed Shop Next Door… PLUS: Cannabis Goes High Society
A couple weeks ago, I told you about the startling effect of pot legalization on teens.
That being areas with legalized pot are actually less likely to have teen marijuana use.
Once again, the prohibition narrative is debunked.
Legalized pot doesn’t create a new generation of burnouts and stoners. Just like the end of alcohol Prohibition didn’t turn elementary schoolers into boozehounds back in the 1930s.
Eliminating the black market for weed makes it harder to find for underage users. The data prove this.
Now I’m going to bust more misconceptions about legal pot and show you why three unique indicators mean “cannabusinesses” are here to stay.
Signal #1: Pot Retailers Boosting Property Values
Even the biggest fans of legalizing marijuana might recoil at the idea of a pot dispensary opening up within walking distance of their front doors…
I can just see the picket signs now… “Not in my backyard!”
But as it turns out, you might want a pot dispensary to open up near your house!
According to a study published in the academic journal Real Estate Economics, homes located near legal pot retailers have seen a significant increase in value versus those farther away.
For instance, single-family homes in Denver within 0.1 miles of pot shops rose in value 8.4% more than neighboring homes located farther from weed retailers.
That’s a huge increase!
In dollars, the pot boost translates into an average of $27,000 more per house.
Legal pot venues need to work hard to show they’re serious professionals to state and county regulators, so they tend to be better financed and more upmarket than the average liquor store or tobacco shop.
The net result is a clientele that’s more Starbucks than scumbag. The data show this bodes well for adjacent property values.
It’s easy to use scare tactics suggesting legalized pot will ruin this or destroy that. It’s a tactic politicians have used for years.
But as new data continue to roll out, disproving the old flawed assumptions and showing hard benefits for communities that legalize weed, those arguments against legalizing marijuana are falling flat.
The floodgates are starting to open.
Signal #2: High-End Art With a Pot Twist
Another indication that pot is here to stay are the new markets that legal cannabis has created. These even include high-end art.
Well, “functional glass art,” to be more precise.
That’s what a Los Angeles art gallery is calling the $60,000 gun-shaped glass bong in its collection.
If that’s a little rich for your taste, don’t worry — Grey Space Art also offers a handful of smaller, less elaborate smoking implements starting closer to $10,000.
Think pot is just for stoners working at McDonald’s? Think again.
As legal recreational marijuana gains are following in more states, a whole high-end ecosystem of cannabusinesses is being created for wealthy pot connoisseurs who can afford to spend a little more for the finer things.
And it’s not just the accessory makers who are getting in on that action. Actual pot growers and cultivators are participating in the high-end weed experience too.
Signal #3: Cannabis Branding Wars
Sophisticated branding is becoming a big part of the pot business.
Early on, as new states passed laws legalizing medical and recreational marijuana, growers mostly just struggled to meet demand.
Fast-forward to today and we have a much more mature market. One where branding is becoming a key piece of the pot puzzle.
Everything from packaging to product quality matters.
It didn’t before. Now it does.
Pot-focused private equity firm Privateer Holdings launched an officially licensed Bob Marley pot brand. Other popular recording artists Willie Nelson, Snoop Dogg and Wiz Khalifa all have started or licensed their names to pot brands as well.
It’s evident that pot has hit the mainstream with a fervor.
We’re still in the early stages of legalized pot, but brand loyalty is going to become a real thing. Well-capitalized publicly traded companies are going to want their slice of the pie, and they’re well positioned to win these brand wars.
That means they’ll be first in line for the higher-end pot dollars. Following that action means new fast cash opportunities for you.
For Tomorrow’s Trends Today,