Industries That Exist in a Legal Gray Area
When it comes to working in the narcotics industry, there are a lot of regulations and laws that you have to adhere to. And each industry is different. Here are some of the unique legal challenges that individual narcotics industries face.
According to the Drug Policy Alliance, when it comes to selling marijuana, there are strict marketing regulations. It’s incredibly difficult to market it with traditional methods like internet ads and commercials.
In addition to some of these issues, cannabis sellers struggle to get adequate funding from banks. Even though there aren’t any major restrictions inhibiting banks from investing in cannabis companies, they are typically too risk-averse to be willing to invest.
Finally, in many states, selling marijuana is often subject to moratoriums: temporary bans on selling. Basically, this means that your marijuana business could be mandated to close under random circumstances.
Figuring out how to navigate this can be particularly challenging. Make sure that you have a variety of different products that you sell in case the sale of one of your most popular products is prohibited for a time.
Though it is difficult to market the majority of drugs, vaping faces specific challenges. According to VapeRanger, the FDA strictly watches tobacco and nicotine product marketing. Additionally, there has been a significant amount of backlash about the sale of flavored vape because it seems to be targeted at teenagers.
As a result of this backlash, the FDA has created additional regulations regarding the sale of flavored vape. While the situation varies state to state, it is likely that the regulations will only become more difficult so it may be important to consider areas of the market that you can break into in the event that certain types of vape become more permanently difficult to sell.
Tobacco is one of a few legal drugs that has actually been around for a long time. But despite its relative longevity on the market, selling tobacco in all its forms can still be relatively challenging. According to Truth Initiative, this includes both e-cigarettes and cigarettes. Recently, there have been increases on tobacco taxes, additional regulations regarding the packaging of tobacco requiring packaging to have warning labels, and restrictions of tobacco advertisements.
Most of these requirements have been put in effect by the FDA to deter potential buyers from consuming tobacco. In the face of these regulations, you will have to be creative in how you present tobacco to reach various audiences.
When it comes to marketing and selling a variety of legal drugs, the industry is highly regulated. With many different taxes, bans on marketing, and mandates about how, when, and where drugs can be sold, it can be overwhelming to know what you’re up against. These are some of the key legal issues that various drug industries face, but do your research to learn about the regulations of other popular drugs.