In many areas of the world, selling cannabis directly is still illegal, but despite this, the industry is exploding. Recreational marijuana is legal in 19 states, and so entering into the marijuana market while it’s still new and growing rapidly is a great idea for a budding entrepreneur.
But what exactly would you do in the industry? We have a few ideas to get your brain whirring.
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Cannabis and cannabis-related products are huge on the market right now, think CBD oils and CBD infused drinks and snacks, and even products that use THC too. Aside from this, it’s also not illegal to sell products and equipment that marijuana users need. Think bongs, grinders and dab rings.
You could produce and sell products like these if that is something you would be interested in. Infusing baked goods with medical-grade marijuana is typically legal, even in places that aren’t legalized. If your business idea isn’t legal where you live yet, you could use this idea to get a baked goods business rolling until selling weed becomes legal.
Cakes, brownies, cookies, chocolates, or gummies – your options are seemingly endless when it comes to the kinds of products you could infuse with either CBD or THC. Let your imagination run wild in the kitchen and see what exciting products you can come up with, but don’t forget that aesthetics and branding are everything if you want to make a name for your business. For example, check out branded pre-roll packaging for your weed, edibles, or bongs with interesting shapes or colours.
These types of businesses handle the cannabis plants directly: planting, growing, processing and distributing marijuana. Running a plant-touching business would require an in-depth knowledge of the plants you’re working with, and would require you to monitor soils, lighting, humidity etc.
While this avenue is heavy on strict regulations, permits, etc., it can be a lot of fun when you know what you’re doing. You can look into breeding (mixing strains) and experiment in that department, but the plant-touching side of the marijuana industry takes in a whole lot of profits compared to other areas.
PR and Marketing
Despite slowly becoming legal in various areas, weed still holds quite a hefty stigma. This means that other businesses in the industry (like the ones mentioned above) might need a little help keeping their heads above water.
Also Read: How To Start a Consulting Business
If you’re good with words and strategizing, you might want to look into starting a business that helps others in the marijuana industry with branding, marketing and public relations management. Many of these companies would pay top dollar for an expert in this field to work with their business.
These, and many other business opportunities await you in the cannabis industry, so use these ideas as a launchpad and start building your business! Remember to check that you’re always staying on the right side of the law, and obtain any necessary permits before launching into anything.