The Budders seek to gain momentum in the cannabis industry

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.

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The Budders wants to make a difference in the cannabis sector

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%.

The “Amazon for cannabis“

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).

Online catalog to sell a variety of cannabis products

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.

A promising B2B opportunity

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.

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(Featured image by Annie Spratt via Unsplash)

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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.

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