Over the years, the cannabis market has witnessed a massive turnaround as its use has become legal in several states for medical and recreational use. With several cannabinoids now available on the market, the industry has grown into one of the largest in the United States, with sales projected to reach an estimated US $25 billion by 2025. As a result, many new companies are eager to make their mark in the emerging market. To help these companies get ahead, make informed business decisions, and maximize their competitive advantage, CanniCheck delivers cannabis business profiles, scores, and ratings based on businesses’ data analytics and statistical indicators.
Cannicheck is a unique information technology business created and designed to help individuals and companies secure licensed cannabis transactions that are on terms. It offers business profiles, scores, and ratings and helps businesses identify the best practices for growth based on their business’ data and statistical indicators to leverage its power in strategic decision-making.
Since being legalized, the cannabis industry has expanded massively; however, the emerging industry has faced several hurdles because, unlike other business sectors, entrepreneurs and companies in the market do not have the necessary tools to check whether a company is credible before they conduct business with it. As a result, industry outlets were taking advantage of farms, manufacturers, and distributors as they were jumping from one company to another, taking consignments and not giving them back.
Additionally, marijuana reform and legalization at the federal level have been raised but not yet recognized due to the lack of consensus among lawmakers and industry members. Thus, it will take some time before a system change occurs.
CanniCheck was created by brilliant minds to cater to this market gap and help farms, manufacturers, and distribution companies have a way to check if a cannabis company is reliable when it comes to paying their product terms. “Our industry had no legal ramifications for bad business, no accountability or public record. Well….now we do! After four years of development and research, we finally created a way to secure those installment transactions,” says the founders of CanniCheck.
Essentially, the company provides transparency in the industry and serves as a safety net for individuals or companies looking to get their foot in the door of the CBD industry, creating a toll to see who is doing good business and who is not.
However, despite the numerous advantages that can be gained by implementing a system like CanniCheck, many challenges still block businesses and entrepreneurs from its use, such as a lack of support from the government. Additionally, a system like CanniCheck is not mandatory to use. “It’s a difficult battle to ensure that this is implemented nationally to protect the industry and its owners,” CanniCheck’s founders said. Nonetheless, by using CanniCheck, the industry has the opportunity to advance steadily as entrepreneurs and business owners can identify best business practices and provide accurate ratings of businesses and brokers so they can make the best purchasing decisions for their company’s needs.
Learn more about CanniCheck by visiting their website or finding them on Instagram.
