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Dayton, the market for legal recreational and medicinal marijuana in North America hit .7 billion in 2016, a 34 percent rise from the previous year.
Marijuana Business Daily, a trade publication, reported in 2015 that women comprised about 36 percent of executives in the legal-marijuana industry, compared with 22 percent in senior roles in other areas. Everyone is figuring it out together.”Cannabis start-ups are particularly appealing to older women who have had long careers.
Jeanine Moss never expected to get into the cannabis industry. As she left the hospital, her doctors handed her a “shopping bag filled with opiates,” she said. So she switched to medical marijuana, which is legal in California and was familiar to her, having grown up in the nearby Venice section of Los Angeles.
Moss, 62, of Marina del Rey, Calif., had quit her job as a marketing consultant before she had her hip done in 2014.
Inspired partly by their own use of the drug for pain relief, or by caring for others who use it for their own aches, these women see viable business opportunities and view their work as therapeutic for their customers.“It’s definitely a trend,” said Troy Dayton, the chief executive and a co-founder of the Arcview Group, an investment and market research firm that focuses on the cannabis industry.“A lot of women have this family recipe, or they were making a certain kind of tincture for a loved one who was suffering.
It’s no secret that the cannabis community has a way of advertising its herb-friendly ways without being super overt about it.
Cannabis helped her mother’s indigestion and depression, and it lightened her pill use. Heatley, 66, got licensed to be a primary caregiver in California, which included learning about medicinal marijuana.
After her mother died in 2012, she moved back east and applied for a license to open a dispensary.
Since the industry is still finding its way, there is no “built-in institutional bias against women of any age,” said Nancy Whiteman, 58, a co-owner of Wana Brands of Boulder, Colo., which sells sour gummies, salted caramels and other products laced with THC, marijuana’s main psychoactive ingredient.“In a lot of other industries, there are hundreds of years of history of who is successful and who is not, and there are glass ceilings to be broken,” Ms. They are “smart businesswomen who see opportunities,” said John Hudak, a senior fellow at the Brookings Institution who has written the book “Marijuana: A Short History.”These are women, Mr.
Hudak said, “who have the type of background and skill sets that lend themselves to be highly useful in an industry like this: lobbying, consulting, finance, operations.”That is exactly what Jane Heatley discovered. Heatley, who owned a real estate title company for 30 years, moved from Barnstable, Mass., to Corona del Mar, Calif., to care for her mother after a stroke.
But the ratio of swipes-to-meaningful connections is absurdly low.