Acclaimed Entrepreneur Ryan Bishop Enters the Cannabis Space, Launches ‘Cannaris’
By Space Coast Daily // June 19, 2019
The cannabis industry is booming and proving to be a big business for many. Marijuana usage is no longer a taboo in many countries, including the United States.
Scientific research has revealed its numerous medicinal and therapeutic properties. Medical fraternity, regulatory and legal bodies are gradually accepting it as an alternative treatment option for several ailments.
The scope for legalized usage of cannabis for medical, therapeutic, and recreational purposes has uplifted the market sentiments in this space. This has led to a growing demand for analytical testing options in the marijuana supply chain.
The boom in the marijuana business is attracting investors and entrepreneurs considering the rapid growth and high margins cannabis business offers. Foreseeing the immense scope that lies in the cannabis business, Ryan Bishop ventured into this space in the year 2010.
Being a proven entrepreneur, he had the vision and foresight to forecast the opportunities that could unfold in this industry. He entered the cannabis arena by establishing a certification center for issuing Medical Marijuana Card to cannabis patients in Arizona.
He then went on to set up his company for providing state-compliant packaging for cannabis products.
Having operated successfully in this space for quite some time, Ryan could foresee the near and long-term opportunities for growth in this business. Cannabis was on its way to being legally acceptable as a medical treatment and recreational alternative.
Several US states were already allowing its decriminalized use. The demand and consumption for Marijuana were already on the rise. As per a statistical survey, the US consumer spending on cannabis witnessed an unprecedented amount of growth of USD 10 billion, with an investment activity of USD 3.8 billion in 2018, as against USD 3.6 billion in 2017.
As per industry experts, the US cannabis consumer spending is projected to reach USD 23 billion by 2022.
In the wake of the above, Ryan Bishop has recently set up his new venture, Cannaris Analytical Labs that aims to offer testing, research, and medical products of cannabis.
Ryan affirmed saying, “Our labs across North America will provide the highest quality analytical and R&D service while providing consulting to our customers achieving a safer quality product. All labs will provide the same level of accuracy, customer service, and professionalism.”
Ryan Bishop has plans to collaborate with licensed marijuana distributors in California to conduct state-compliant cannabis testing in July this year.
Cannaris Labs seeks to achieve inorganic growth through such strategic alliances and cast its footprints across all legal cannabis states in the US. Bishops says, “Cannaris Labs has many multi-state large organizations that depend on us to provide consistent testing no matter what state we are in and to follow their expansion footprints as well.”
The prevailing boom in the industry has led experts to project revenues of US cannabis-testing labs at USD 850 million by 2020.
With such a promising business environment and a proven track record in the cannabis industry, Ryan Bishop and his team are heading for a big leap in this business. It’s time for entrepreneurs like Ryan Bishop to capture a large market share and get an edge in the cannabis industry.
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