Higher education is one of the industries hit hardest by COVID-19. Colleges and universities across the U.S. are bleeding revenue, as they’re forced to furlough employees and send students home. Now, online courses have become the norm for most institutions, but many colleges aren’t designed or prepared to handle online coursework at this scale.
While colleges struggle to get through this pandemic and its imminent lasting effects, higher education is tasked to discover succeeding industries that will support the success of students and institutions in an emerging downturn economy.
As you may know, cannabis is currently considered an essential business during COVID-19 in most legal states. The industry has been thriving since the onset of the pandemic, with cannabis sales in some U.S. regions pushing 117 percent higher than average.
Cannabis is one of the few booming industries right now whose success can jumpstart the careers of students and offer a new revenue stream for universities. Here is why and how universities across the country can affectively get involved in the cannabis industry during this pandemic.
Cannabis is Succeeding in COVID-19
Despite how incredibly fear-filled these times have been, cannabis is one industry that’s continued to surge during the pandemic. States from California to New Jersey ordered shelter-in-place, closing thousands of businesses, yet they deemed cannabis dispensaries as essential because the demand from customers was so high.
Whether for medical use or as a means to relax in these terrifying times, cannabis is helping Americans get through this crisis. Becoming a part of a burgeoning industry during this pandemic can only lead universities to strategic success, not loss.
Cannabis Touches All Industries
Believe it or not, the cannabis industry is much bigger than just cultivation, manufacturing, and retail sales of products. You’d be shocked to discover that cannabis touches so many different industries, such as medical, legal, beauty, finance, consulting, accounting, technology, entertainment and that list goes on.
Because of that, professionals in all sorts of different industries are interested in cannabis. People seeking further education, whether a lawyer, doctor or business professional, can see strategic career benefits to adding cannabis to their curriculums, especially as it becomes more mainstream in our society. An education on cannabis will go a long way and will set any aspiring professional ahead in their respective field.
Easy Way to Generate Much Needed Revenue
Universities are at a loss right now. With students moving off campus, millions spent on dormitories and other amenities are being completely refunded. Schools have employees to account for as well that go beyond just professors. Facilities management, residence life employees, cafeteria workers and so on are at risk of being furloughed and receiving exorbitant pay cuts, that is if they haven’t already.
The cannabis industry on the other hand is gaining momentum, and students see that. Implementing a cannabis curriculum has the opportunity to increase student interest, and, as you’ll read in a moment, is pretty easy to incorporate into existing coursework.
Online Curriculums for Cannabis Already Exist
Unlike all the courses professors now need to rework toward an online curriculum, there’s a multitude of online cannabis courses that already exist with pre-built curriculums. The best part? It’s not hard to partner and start working with online cannabis education platforms with so many resources out there.
While the future of our world is still so unclear and millions of Americans are struggling to make it, it’s our job as businesses and people, to come together in these dark days. Through integrating cannabis curriculums, colleges and universities can take one step toward improving the future of education which will carry past this pandemic.