(b.Blunt) – In many countries, marijuana is not federally legal. Even without federal legalization, the business will continue to grow.
Cannabis is becoming publicly popular each day. Since more places are legalizing the plant, more well-established individuals are coming out of their shells to publicly support it. Business magnet, investor, philanthropist, and founder of the Virgin Group, Richard Branson opened up about his thoughts on the cannabis industry.
In a recent interview with NewsHub, Branson shared his thoughts of dairy farmers ditching the cows and growing marijuana. Richard predicts cannabis will be equally as acceptable as wine within the next ten years.
Dairy Farmer In America, there are about 47,000 dairy farmers. Each dairy farm has an average of 200 cows. We consume approximately 630 pounds of dairy product each year. This includes; milk, cheese, yogurt, butter, and ice cream.
In your local supermarket, dairy products can range anywhere from $1.50-$10.00 depending on the product type and weight. Even though we think we need a lot of dairy to get our nutrients, the Environmental Protection Agency (EPA) reports that runoff from excrement of cows used for beef negatively impact our rivers and other freshwater sources.
Dairy farming seems to be like a very profitable business from the outside looking in. Mostly because we see how much dairy we consume as a country each year. In reality, the salary for a dairy farmer can range from $33,840 starting up to $119,350 with the median being $70,110.
Cannabis Farmer Becoming a cannabis farmer seems to be the ideal job these days. Who doesn’t want grow a large amount of legal pot? You can’t necessarily compare dairy farming and cannabis farming because they are obviously different in many ways. Richard Branson mentioned that cannabis can be economically beneficial. He’s right!
Reports from news outlets showed that in 2015 legal cannabis sales made $5.4 billion dollars and in 2016 $6.7 billion dollars. When you see those sales being so high, it’s reassuring that legalizing cannabis everywhere could be beneficial. If you have a love for marijuana, cannabis farming could be profitable. Major farmers can make a net profit of $115,000 a year with proper production and distribution.
We Still Need Dairy There are pros and cons to both areas of work. At the moment, marijuana seems to be the “it” industry as it is legalized in more places. At the same time, dairy and beef are still in high demand. It is impossible for all farms that raise cows for dairy and beef to ditch them to grow cannabis.
For those farmers who do not have a high demand, they can look into farming medicinal cannabis for big companies. Whether you are a dairy farmer or a cannabis farmer, you will need to have the proper production and right distribution resources to have a steady profit without any major downfalls.