As Canada gets closer to national legalization, a wide variety of companies are getting in on the new business opportunities this will open up. Many times, these companies aren’t even weed businesses. The most recent example of this is security transportation company Brinks. According to the company’s CEO, Brinks wants to transport cash for marijuana businesses.
Brinks Moves Into the World of Cannabis
The announcement came on Monday from Brinks CEO Douglas Pertz. At the time, Pertz was being interviewed on CNBC by investment advisor Jim Cramer.
During the interview, the conversation turned to the legal cannabis industry. That’s when Pertz said that his company is actively exploring new business opportunities that could come about as a result of legalization.
In particular, Pertz mentioned that Brinks wants to make moves in the Canadian cannabis market.
According to Pertz, Brinks wants to get involved in transporting money for marijuana businesses. He also seemed to suggest his company could help transport other valuable assets as well.
“We’re talking to some of the largest players there today to manage all of their deliveries, as well as their cash management of that,” Pertz said.
Now could be a good time for such a move. That’s because Canada is poised to become the second country in the world to make weed legal nationwide. According to lawmakers in Canada, the country will launch full legalization on October 17. That is also the date that retail sales of recreational cannabis are supposed to begin.
National legalization is expected to open a massive new market. Obviously, this could mean big business for anyone even tangentially related to the industry, including security and transportation companies like Brinks.
Cannabis Is Creating Opportunities For Other Industries
But Canada’s upcoming legalization isn’t just a big business opportunity in and of itself. It’s also a chance for companies to test their business models on a large scale.
More specifically, if Brinks can get into Canada’s marijuana industry, it will have the chance to see how things work when it transports at a national level.
Currently, in places like the U.S., any involvement with legal weed is strictly at the state level. On top of that, laws vary from state to state. That means that so far, companies like Brinks have only had experience working in this kind of local, atomized market.
But now, Canada is presenting the chance to see how things will work on a larger scale.
The announcement from Brinks’ CEO is the latest example of the long reach of the legal marijuana industry. Obviously, when weed is legalized, it opens up new business opportunities for growers, distributors, and retailers.
But there’s actually much more that goes on behind the scenes. There are tons of other companies tangentially involved with the marijuana industry that don’t deal directly with weed at all.
This includes farm suppliers, fertilizer and soil companies, marketing and media companies, security companies, lawyers, and many others.