Peyton Manning is here to offer us all a somewhat
obvious business lesson: legal pot is good for the pizza business.
Manning, the Denver Broncos’ quarterback who bought a whole bunch of Papa John's franchises just
before Colorado residents voted to legalize recreational marijuana, said in a
recent interview that legal pot has been a boon for sales.
"There’s some different laws out here in
Colorado," Manning told Sports Illustrated in an interview published
Thursday. "Pizza business is pretty good out here, believe it or not,
due to some recent law changes."
Thanks to the approval of Amendment 64 in Colorado,
weed is now regulated like alcohol in the state. And since sales began on Jan.
1 of this year, things have gone pretty swimmingly for many business owners in
Colorado.
Pot shops in the state sold about $90 million worth of recreational marijuana in the
first five months of legal sales -- and that doesn't include the $165 million
in revenue that medical marijuana sellers brought in during that same time
period. All of this has translated to a ton of tax revenue for the state.
Washington is currently the only other state in the
U.S. that has legalized recreational marijuana, though Oregon and Alaska may be next. Many more states have legalized
medicinal marijuana.
Note: While the future looks bright for pizza
entrepreneurs, I wonder how the people back home in East Tennessee located
right in the heart of the “Bible Belt,” feel about his generating revenue from
an Illegal drug; illegal because the Feds (where it is still illegal) have not
challenged the State’s new law.
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