The overall cannabis business is experiencing an exponential growth with the industry bursting into a plethora of entrepreneurial opportunities. All across North America, cannabis entrepreneurs are growing, harvest and infusing weed. With an increasing number of cannabis entrepreneurs and enthusiasts, lots of business opportunities are springing up.
While there’s still a long way to go before we have recreational and medical use of cannabis legalized throughout the world, the current scenario gives us a positive picture. So, if you are looking to join the industry and starting your own cannabis-themed business then here are some overall cannabis business ideas to help you find your niche.
#1 Growing Cannabis
Growing cannabis at your own farm or even at your backyard is one of the best things that you can do to enjoy legalized profits margins. There are different aspects of the cultivation process and these include harvesting and selling cannabis flowers; processing harvests into edibles, extracts, and oil; and breeding cannabis seeds, creating cannabis clones and selling them to dispensaries.
Entrepreneurs may choose to start their own cannabis farm. However, please be warned that it’s not as easy as it looks. You need to have some basic knowledge about horticulture and agriculture. Furthermore, you will need to adhere to the local laws.
#2 Staring Your Own Edible Cannabis Company
Edible cannabis forms an important part of the overall cannabis business, mainly because they are discreet and can be consumed at anytime and from anywhere. They are also highly preferred by the consumers who do not like smoking but want long-lasting effects. According to a 2016 study, the cannabis edibles make up 21 percent of the market share in the US. The edibles are available in various forms such as cakes, brownies, cookies, candy, chocolate bars, pies, popcorn and peanut butter.
#3 Start a Cannabis Dispensary
One of the best ways to earn revenue in cannabis business is to start your own cannabis dispensary. You can either sell the products that you grow at your own home or garden. Alternatively, you can source the products from a third party and sell them at your clinic keeping a profit margin. You may even start an online cannabis dispensary that allows you to reach out to a larger number of people.
However, before starting a traditional store or an online dispensary, make sure you find out the local laws to ensure that you don’t fall into trouble.
#4 Sell Cannabis Accessories
If you think you cannot handle cannabis farming and harvesting, then there’s another lucrative business opportunity for you. You can create attractive cannabis accessories and sell them online. Some of the accessories include pipes, bongs, grinders, vaporizers, trays, rolling papers and filters.
#5 Become a Cannabis PR
If you have an undying passion for overall cannabis business, you can take up the PR role and educate journalists and reporters. This way you can help to remove the social taboo on cannabis and indirectly help in promoting weed business. You can encourage writers to create awareness among the public and help them see the benefits of using cannabis.