Cannabis Business Models to Watch
Author: Jacques Williamson
Not a week goes by without a new cannabis business model or venture passing by our industry radar. With regulation maturing and legal restrictions laxing, entrepreneurs in this space are having a field day planning the next cannabis trend setting idea. No one doubts there is exceptional growth coming in the next several years in both medical and recreational marijuana usage. I enjoy seeing various startup companies featured in publications such as High Times and TechCrunch and I recently noticed a new venture that has successfully stayed under the radar while they are ramping up for what seems will be a vast disruption of the traditional dispensary model in Las Vegas.
Hytiva is a "Cannabis on Demand" company exclusively serving Las Vegas. They partner with individual dispensaries and provide delivery services to medical marijuana users. Since most medical users are frequent repeat customers often due to a limit on the amount of cannabis you can purchase in a set time period, providing home delivery of cannabis will definitely garner some interest. Anything that removes friction from repeat tasks is almost always a sustainable and profitable business model. The question is, which company is going to provide the best service and win the most market share. The way it's looking so far - my bet is on Hytiva for the Las Vegas area. Keep your eyes on these guys.