Budders technology is a company that is helping cannabis retailers run compliant on-demand delivery in the U.S. It is based on the digitalization of business models through technological solutions. The company is also working with Canada and other regions that are open to cannabis legalization. The main objective of The Budders is to develop its own marketplace with a delivery service.
New regulations on the medical and recreational use of cannabis are opening up a great business opportunity. With its sights set on the U.S., The Budders aims to be a reference actor in the sector.
The economic impact of the cannabis industry in the U.S. is expected to reach $77 billion by 2022. Therapeutic and recreational use of cannabis is already a reality in developed countries.
Hemp.im is the world’s leading cannabis source to find out the most exciting news in the cannabis sector. Millions of people use our application in order to discover and find the latest news about cannabis.
The company’s main focus will be the cannabis market in the United States, although it will not lose sight of Canada and other regions that are open to the legalization of cannabis in its various uses.
One of the founders of the company, Miguel Martín, says that the American cannabis market in this sector has an estimated turnover of $17,000 million.
In the first six months of the year, the index that is bringing together the main companies legally dedicated to the cannabis industry, the North America Marijuana Index, has revalorized 23.8%, a rise much higher than the Ibex (8.33%.)
In addition, a report by the consulting firm Arcview on the cannabis market is stating that spendings on legally regulated cannabis products in 2018 reached $16 billion in the United States.
A growing line since years ago, because the same organization is estimating a market growth of around 37% per year since 2013 and points out that last year the market grew by 20%.
One of the great objectives that these young entrepreneurs have set themselves is to develop their own marketplace with a delivery service dedicated to cannabis.
In principle, The Budders proposes to become a reference as an e-commerce service. In other words, the challenge is to be the “new Amazon of cannabis.”
It is the great ambition of the CEO of the company, who is already working to be able to offer fast delivery and shipping in two products (THC and CBD).
Just like Amazon, the platform will also offer warehouse services to brands and distributors for their delivery or shipping service. The next step will be to increase the catalog with vaping products, creams, packaging and all kinds of products.
The Spanish company will enable immediate purchase and delivery, secure payment, tracking of the shipment, as well as scheduling and recurrence of delivery.
Miguel Martín is explaining that the company will have several monetization models that will not be made public until the launch.
In addition to direct sales to the public, another business model, also closely linked to new technologies, will be offering solutions to other players in the industry.
In the B2B segment, The Budders believes that the digital environment and technological intelligence can make a great contribution to the company.
Their idea is to launch an OnCloud solution for cannabis companies, from producers, distributors, brands or retailers to manage the relationship with customers, finance, delivery, e-commerce insights and more features that can be contracted by modules.
In this way, any operator working in the sector will be able to carry out its daily management in an efficient way. The application will include, among other things, a calendar, customer database, sales list, analytical management, stocks, and management platform.
__
(Featured image by Annie Spratt via Unsplash)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Hemp.im, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Directivos y Empresas, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Ontario is investing $31 million over the next three years to enhance efforts against illegal…
Frankfurt and Hanover are launching five-year pilot projects for legal, regulated cannabis sales to adults,…
Italy's Regional Administrative Court suspended the Health Ministry's decree labeling CBD as a narcotic, pending…
This November, five U.S. states will vote on measures related to legalizing recreational or medical…
The European Commission has launched an investigation into Italy after its recent proposal to ban…
A new study has found that prolonged use of high-THC cannabis leaves a unique mark…