There’s a common component to recent cannabis legislation – all cannabis that is sold has to be tested first. This is an understandable requirement, as it helps customers know what they are buying, and ensures that the product(s) are safe. The testing requirements create a lucrative business opportunity for cannabis testing companies, which already exist and operate in various states.
Most cannabis testing companies started before legalization was a reality in America, which is great example of how the cannabis industry is ahead of the government. Washington State recently licensed it’s first official cannabis testing laboratory. Per The News Tribune:
Washington has its first state-certified lab to test marijuana. The Yakima laboratory received state authorization late Wednesday. It’s run by testing company Analytical 360, which says it plans to open the 22,000-square-foot lab on Monday.
Several other companies are on the cusp of certification, the state Liquor Control Board says.
The board is setting up a highly regulated market requiring independent labs to test marijuana for potency and contaminants and submit their findings to a state system that is tracking the drug from seed to sale.
This is a big step for Washington, which has been much slower with implementation of legalization compared to Colorado. Cannabis testing is going to be a very profitable sector of the cannabis industry, and it’s a sector that a lot of people overlook when thinking of ways to get into the industry. If you are a potential investor, give cannabis testing a serious look before investing in other sectors. Retail sales and cultivation are flooded with entrepreneurs, while cannabis testing is largely untapped and has virtually no company branding out there at the moment.