The first breakfast of the year at the Palm Beach Chamber of Commerce focused on a taboo subject that is said to have numerous business opportunities.
At the January 4 breakfast at The Breakers, about 400 residents and business owners gathered to learn about the Florida cannabis industry.
Laurel Baker, executive director of the chamber, said she thought the presentation would provoke an important discussion that is not usually heard.
“One of the directions I have when it comes to finding programs is to bring up issues that you wouldn’t normally feel like going to a chamber breakfast to listen to,” he said.
Baker said the idea of a cannabis business goes beyond the walls of a dispensary.
Residents will not find a dispensary on the island, however. City officials banned medical marijuana treatment centers and dispensaries, as well as growing marijuana for medical use in early 2017.
There are still endless business opportunities waiting for Palm Beach residents on and off the island, ranging from investment and logistics to special event planning and culinary arts, said Cannabiziac founder Ann Marie Sorrell. one of the presenters of the breakfast event.
Cannabiziac is a member-based company created to help existing businesses and professionals take advantage of the $ 43 billion growing global cannabis industry through education, training and access to industry experts.
Florida’s medical cannabis market, Sorrell said, represents $ 1 billion in the global market. U.S. legal cannabis sales reached $ 20 billion in 2020 and are expected to soar to $ 50 billion in 2026.
Cannabis links with Palm Beach
Actively operating in the cannabis industry does not always require a business owner to contact a plant.
“If you provide any kind of ancillary or professional service, you don’t need to touch the plant to provide services to the industry,” Sorrell said.
Sorrell said free industry opportunities include technology and equipment development, marketing, law, commercial real estate and tourism.
Companies on the island have already integrated cannabis into their services through the use of CBD extract, or cannabidiol.
CBD products with less than 0.3 percent THC are not currently regulated by the city and are legal for use and sale under state law, said Palm Beach Police spokesman Captain Will. Rothrock. According to the US Food and Drug Administration, CBD is a chemical compound derived from the cannabis plant. It is used as a pharmaceutical agent to treat chronic pain without the psychoactive effects of delta-9-tetrahydrocannabinol (THC).
Arthritis pain
After using CBD oil to relieve arthritis pain, Brian Cantor said he started looking for treatments at his salon.
Located in The Royal Poinciana Plaza, Paul Labrecque Salon and Spa offers its guests a ritual herbal CBD massage. Clients experience stress and pain relief by applying 1,000 milligrams of pure CBD oil mixed with coconut oil and arnica extract.
“It’s the most relaxing massage ever,” she said. “CBD oil helps the body breathe deeply and relax.”
Olivia Stephens Salon and Spa, at 283 Royal Poinciana Way, offers guests a massage with lotion, oil or serum that can be mixed with an isolated CBD powder.
Medicinal purposes of cannabis
The presentation also highlighted the medicinal benefits of cannabis. In order for Palm Beach entrepreneurs to successfully be part of the industry, Sorrell said, they need to change their perspective.
“Once people really understand cannabis as medicine, I think it changes their perspective on use,” he said. “For residents who do business or are investors, they now have a better understanding and appreciation of the plant as medicine can now.… Look at business opportunities.”
According to Cannabiziac, cannabis helps treat medical conditions such as epilepsy, multiple sclerosis, post-traumatic stress disorder and cancer.
The future of cannabis
Florida legalized medical marijuana in 2016 and has since become the third largest cannabis market in the country for annual sales, according to Sorrell.
But for a greener future, entrepreneurs in the cannabis industry must act as advocates and help create “fair” opportunities for individuals, Sorrell said.
Homeowners should also listen to the younger voices moving into the city.
“Palm Beach has a lot of new generations coming in and younger residents who are coming in too. They’re not just visiting anymore,” he said. “I think when they look at different opportunities,
“[The industry] it will continue to grow, “Sorrell said.” I only advise people to get involved. “
rharper@pbpost.com
@rachida_harper
