In the marijuana industry, there are more ways to cash in on the $6.7 billion market than just selling cannabis. From marijuana yoga instructors to weed wedding planners, forward-thinking businesspeople are creating new jobs and opportunities in their communities each day.
And one of those entrepreneurs is Jeanine Moss, the founder of AnnaBis Style.
AnnaBis is an aroma-controlling line of high-end accessories for women that sells clutches, cross- body bags, vape cases, and waist bags. Jeanine also has cannabis traveling guides for women for Denver, San Francisco, and Los Angeles.
In addition to her business savvy, the creator of AnnaBis also has firsthand experience with the medical benefits of marijuana.
And because she's an expert in the cannabis industry, I wanted to share Jeanine's insight exclusively with Money Morning Members.
MM: What inspired you to create AnnaBis?
Jeanine Moss: AnnaBis was born out of necessity.
One night when digging in my purse for a baggie, couldn't find a lighter, then searching for mints and eye drops afterward, I thought, "There has to be a better way!"
MM: How did you correctly identify there was a demand for luxury marijuana products for women?
Jeanine Moss: I started a newsletter for female business travelers in the 1980s. We were 30% of the market, growing to 50%, and no one knew we were there. I did research on the marijuana market and saw that it's exactly the same in cannabis.
Women make up 30%-40% of the market, growing to 50% over the next decade (I think 40% now, but we're more covert because we have more to lose, and more stigma is placed on us).
I saw we had no beautifully designed and useful products for women in the cannabis industry, and I know that women's needs are not being addressed.
We knew women want good design, excellent quality, and convenience, but I still went out and conducted research at Women Grow events and at dispensaries across the country to prove it.
We were right!
MM: Because marijuana is illegal under federal law, have you had any barriers or opposition you've had to overcome because of your association in the cannabis industry?
Jeanine Moss: The biggest barriers and opposition come from the crazy rules imposed by Facebook and Google on legal cannabis advertising, although AnnaBis has found ways around them (like placing our products in up-market trendy boutiques), which has opened up more avenues for sales.
This is really nuts because we support a huge legal industry in the U.S. and don't touch the plant.
But they have imposed their private values to limit the legitimate culture change that is taking place in the United States. In addition, many women in prohibition states consume cannabis, but can't admit it because they are licensed professionals, like lawyers who could lose their licenses. Lawyers happen to be our largest professional group of customers. These women will get in touch with us discreetly and buy our products.
For this reason, we deliver our handbags and accessories in packaging that doesn't reveal its contents.
MM: In the next five to 10 years, do you think medical marijuana will be legal across the U.S.?
Jeanine Moss: Yes, I believe it will be legal. I don't think the prohibition of medical marijuana is sustainable.
Too many people are experiencing the benefits, and nothing can stop the momentum of personal experience, which is increasing rapidly.
Withholding treatment from people with PTSD, epilepsy, and cancer because of where they live just won't be acceptable to the majority of Americans who believe in alleviating suffering wherever possible.
MM: If there was one thing you would want people to know who are on the fence about whether marijuana should be legalized, what would it be?
Jeanine Moss: I'd ask them to evaluate the research and see that marijuana is associated with alleviating pain and suffering and hasn't caused any deaths.
I would tell them that I used marijuana myself to get off of opiates after surgery, and that even the government agrees that marijuana isn't a gateway drug.
Given that it alleviates suffering, doesn't create dependency, and that it's impossible to overdose, I'd ask them to enable the study of marijuana by voting to legalize, decriminalize it, and reschedule it from a level 1 to a level 2 or even lower.
And to learn more on how investors are plotting their seven-figure weed windfall with the top pot stocks from every ecosystem - growers, edibles, dispensaries, and more - click here.