Maximum Yield Cannabis USA April/May 2018 | Page 50

learn “many fear that small-scale growers will have to sacrifice the quality of their product—which many liken to sacrificing an artform—to stay financially competitive with corporate interests in marijuana.” California bring in millions of tourist dollars each year. People don’t just want to sample the goods, they want to see where those products are grown. If the thousands of artisanal wineries in California’s wine country are any indicator of the future of craft cannabis, artisanal growers should rest assured they will have a place in the future. As seen with wine, craft cannabis producers must depend upon a populace of connoisseur cannabis consumers to ensure the sustainability of the craft market. While credible information on cannabis buying patterns is rather difficult to locate, studies show there are a few segments of the modern cannabis consumer demographic that can theoretically sustain a craft cannabis industry. Luxury Market As seen with luxury markets for food, clothing, and automobiles, there is always a segment of the consumer population that demands unique and expensive goods. Why should cannabis be any different? There are several cannabis brands, mainly in California, that have sprung up to serve the luxury marijuana market. Some variety boxes of luxury cannabis products that are delivered in a custom apothecary humidor or genuine leather scent- free purse sell for $1,000–$2,000. On a similar note, a dispensary in Seattle, WA, reportedly sells luxury cigars packed with craft cannabis and oil for a retail price of $3,600. 50 grow. heal. learn. enjoy. While California and Washington may be ahead of the rest of the US in their refined taste for cannabis products, the West Coast’s burgeoning luxury marketplace presents a viable option for the sustainability of craft cannabis production. Cannabis Tourism The concept of cannabis tourism presents another market segment that has the potential to sustain a thriving craft cannabis industry. Colorado is already enjoying the spoils of a cannabis-based tourism industry. There’s the new business model of “bud and breakfasts” springing up in response to market demands for marijuana-friendly lodging. Many vacation rentals also indicate if they are 420-friendly. Moreover, many Colorado locals compare the cannabis business to that of the microbrewery business, where artisanal craftsman brew beers localized to specific towns scattered throughout the state. Indeed, the cannabis tourism vertical has many things in common with the beverage industry. Looking again to the wine industry, regions like Sonoma and Napa counties in Northern The rapid expansion of the cannabis industry, combined with its history shrouded in the dark confines of the black market, leaves the future of the business wide open for speculation. As things continue to change, the brave entrepreneurs who put their time and money on the line to develop the industry are those who seem to learn the hardest lessons. To illustrate, and in a somewhat ironic twist, craft cannabis brands in places like Oregon seem to be the only ones holding their value, as a rapid influx in industrial, outdoor grows has driven commercial prices down to as low as $50 per pound. Whether or not this trend will continue remains anyone’s guess. However, the most pressing concern relating to the preservation of craft cannabis production is safeguarding the creative processes entwined with artisanal production. Oddly enough, and in true capitalist fashion, this horticultural artform is more than likely dependent upon consumer demographics in luxury brands and tourism to survive and thrive. Kent Gruetzmacher, MFA, is a Colorado- based freelance writer and the director of business development at Mac & Fulton Talent Partners, an employment recruiting firm dedicated to the indoor gardening and hydroponics industry. He is interested in utilizing his master’s in the humanities to critically explore the many cultural and business facets of this youthful, emergent industry by way of his entrepreneurial projects. myhydrolife.com