Canada and Colorado Head Shops: Head Shop Merchant Account
June 22, 2018
Canada has recently approved a measure to legalize the use of recreational marijuana. Could the Canadian cannabis industry exceed Colorado’s more mature market? How can you get a reliable and secure head shop merchant account for your business? Just read below and you’ll know.
Canada is the first G7 country to legalize the use of recreational marijuana on a nationwide level. The sales of the product are expected to start at the end of this summer. It’s already been a half decade that Colorado made the use of recreational marijuana legal. According to experts in the field, Canadian businesses will soon enjoy big advantages over local head shops.
When it comes to the marijuana market in Canada, based on a survey of 1.500 Canadians conducted as part of The Canada Project, 84% of participants aged 18+ responded they’d never tried marijuana. Of the 16% of Canadians who smoke, daily users account for 5%, and 3% use a few times a week.
Are you a merchant interested in obtaining a secure and low-cost head shop merchant account for your business? You can do this easily if you apply to a reputable high risk payment processor offering reliable merchant services. Thanks to a respectable high risk merchant account provider, you can enjoy the lowest rates, the highest level of security and the right services tailored to your own marijuana business needs.
What is happening now in the Canadian market? Well, new companies are still being created. Besides, the existing ones are expanding. Based on some estimates in the field, the legal market will reach 360 tons of consumption initially.
According to Chris Damas, editor of The BCMI Report, the “most independent” results on the marijuana market are represented by the Parliamentary Budget Officer. Based on the results published in 2016, annual national demand for recreational pot was at 650 to 690 tons, for a total retail market of $5.5 to reach $5.8 billion.
As for Colorado, recreational marijuana is a legal, billion-dollar industry. in fact, President Trump isn’t against the legalization of marijuana on a federal level. Attorney General Jeff Sessions notes he intends to enforce federal law.
Experts in the field believe Canadian businesses will soon have huge advantages over local Colorado head shops.
Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants by offering a head shop merchant account and much more. His passions include producing music and traveling.