Lifestyle

The Pros and Cons of Transitioning From the Illicit Market to Legal Cannabis

June 28, 2021 08:00 am ET
The Pros and Cons of Transitioning From the Illicit Market to Legal Cannabis

Transitioning from the illicit cannabis market to the legal green side and cannabis industry is something more and more people are doing. As more states pass medical and recreational cannabis laws, the demand for cannabis increases. Sales continue to rise, and taxes are being collected consistently and continually from cannabis sales. Some of the people entering the legal cannabis industry are utterly new to the game, and it shows. It shows in the quality of medicine or cannabis they offer patients or customers, and it shows in the overall way that a dispensary is operated.

The Pros and Cons of Transitioning from the Illicit Market

There are positives and negatives for individuals looking to exit the illicit market and enter the legal cannabis industry. The positives are relatively obvious.

They would no longer face prison time, they could report the money they make and use it to buy legitimate life purchases such as homes and cars without altering or fabricating their source of finances, and with the success of cannabis markets,  it looks like they would stand to still make really good money.

The negatives are situations such as having previous felony cannabis charges that could prevent them from working in the legal cannabis industry. They also have to go on the books. This means you have to apply for a business license, operate in compliance with local laws, and pay taxes.

The Cost Comes at a Higher Rate Than Just a Price Tag

For any of us who have grown up smoking, we have all known a dealer or two that was loaded with awesome toys. They have nice boats, canoes, kayaks, campers and RVs, ATVs, four-wheel-drive trucks, not to mention endless electronic gadgets ranging from video games and VR systems to eccentric high-priced smoking devices. All of this, of course, was purchased with money that was made tax-free. While this money may be free of tax, it does come with a price. The price is paid should they ever get caught. Everything gets seized and they’re suddenly facing jail time with loads of fines and court costs. This can take life from good to devastating in just a moment.

Transitioning From the Illicit Market to the Legal Green Scene

Despite what many think, being a drug dealer requires a lot of business savvy and creative thinking. An individual with this mentality that works in the illicit market of the cannabis sector has a chance to flip the script and enter the legal cannabis sector. For many decades the illegal market for cannabis was all there was. Today, that is not the case.

If somebody has the right mindset, there are many different ways they can transition from the illegal market into the legal green market for cannabis. To me, there are a few positions in the illicit market for cannabis; you either grow it, deal it, or transport it. One way or another, you work in sales in any of these departments. A person who grows for the illegal market can simply transition into the legal market by applying for a job on the books. They can also take their skill for growing to another level and open their own growing operation to supply cannabis to medical and recreational stores. They can even open up their own store. It’s all about the amount of money they have.

Logistics is another important side of cannabis. For those who are familiar with transporting cannabis for the illicit market, it’s not quite as easy as everyone thinks. There’s a lot of things to watch out for, police being only one of them.  Someone looking to enter the legal cannabis sector with this skillset and passion may consider going into the logistics and transportation side of cannabis. Those that love the supply side of things and enjoy interacting with consumers and patients who may have held the role of “dealer” in the past, may find a job as a budtender to be quite fulfilling!

Any of these kinds of positions can lend you a job in the legal cannabis industry. With a little bit of money to back you, a person can apply for the proper license and make sure they are in compliance to work in many different facets of the legal cannabis industry—the legal cannabis industry employs positions of all sorts. Architects, engineers, electricians, plumbers, carpenters, accountants, lawyers and attorneys, and many other professions have found a growing platform of success in the legal cannabis industry. For those operating on the illegal market side of cannabis, these are some strange times. By operating in this market, you run the risk of facing heavy fines and incarceration while others who are doing the same thing under compliance with state regulations are allowed to operate freely and consistently.

There Should be Room for All the OGs, Not Just the Ones Who Didn’t Get Caught

Transitioning from the illicit market for cannabis into the lucrative green side of the legal cannabis industry is an attractive allure for many people. Some people are even trying to pave the path for those who helped the cannabis industry thrive before it was so openly and legally accepted.

The newly merging legal cannabis sector should not focus on offering opportunities for those who only behaved. It should also include the pioneers that paved the path for cannabis legalization today. The cannabis industry is an extremely large one that continues to grow. It has the potential to help individuals cultivate future generational wealth if they’re willing to lay down a strong foundation today. A strong foundation for financial success in the future of the cannabis industry only begins when an individual makes the switch to being legit.

Post Your Comments

David peck says:

June 29, 2021 at 11:09 pm

Switching from illegal to legal sounds good on a paper and as a political talking point. But as more states legalize for medical and recreational use , the states need to set the legal framework that actual represents the people and the liberties associated with such.
Only a few states allow for homegrown, this is because greedy states only want to profit on something that has been so politically taboo.
We all see and know the harmful and sometimes fatal consequences of alcohol abuse. But that doesn’t stop state legislatures from prohibiting cocktails to go during and post pandemic. No they extended those loopholes.
Cigarettes and tobacco products only harm the body but the feds continue to tax and collect on a known killer.
Final food for thought- medical and recreational cannabis is expensive , med/Rec concentrates and edibles are expensive. As the demand and supply surge , local dealers still provide an affordable option or more so then the dispensary.
I don’t see any change coming -legalization to politicians is about revenue for their state.

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