There's No End in Sight (Yet) for the Cannabis Oil Boom
The cannabis oil well is far from running dry. Here's what you need to know before you start drilling.
Cannabis oil is having a moment. Sales of THC-rich concentrates such as wax and shatter are projected to reach $8.5 billion by 2022. “The demand is very high,” says Corey Mangold, CEO of Orchid Essentials, a multistate cannabis brand. “Almost every extraction company I know of in the country is operating at full capacity. The oil market is still expanding.” In other words, there are plenty of opportunities for savvy entrepreneurs.
Before you rush into the oil business, three things to consider:
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