A cannabis business trend is sweeping the world with the new legalization of it. From residential usage to medicinal usage the demand has increased tremendously. However, a cannabis business can be fraught with a great deal of mandates, regulations, and rules for production and distribution and can take a lot of time and patience to start successfully.
Many entrepreneurs do not have the patience for all this, not to mention the equity needed to start a cannabis business plan. It is a reality that this type of business is more regulated and many times more involved and costly than most entrepreneurs realize and this makes them leery to even try to cash in on the popularity of cannabis as a business.
This need not be as there are many ways to either start your own marijuana dispensary or add cannabis products to an existing business that have nothing to do with the production or distribution of it.
Here are some examples of “cannabis-based” business offerings other than the standard business.
There are two types of different models for business ideas other than production and distribution. Some ideas are quite large in nature while others are smaller, and both will be touched upon here. For starters, let us go with the larger scale ideas. These will quite likely take some time and money to start but for many they have both and these ideas do not carry the intrinsic risks that production and distribution do.
Large scale ideas:
Sell the equipment needed to cultivate, maintain, and produce the cannabis or get into land rental for cannabis producers. This does take some knowledge and skill, but it is good for those seeking a large business model, or to add to an existing business model. Some farmers who already cultivate large crops go into this end of the business. They also rent portions of their land many times to cannabis producers.
There is a skill set involved so taking courses on the equipment and/or land rentals to farmers is necessary but it can be a lucrative field. Some work is commission only, just like real estate, and this is a challenging field in equipment and rentals but well worth the time if one learns it correctly.
Become a “cannabis-advisor”
Any individual can do this either in person in group classes or now remotely if they like. Study and knowledge of cannabis is required but cannabis is so popular it is astounding how many individuals will sign up for advice on the best usage and best types of cannabis available.
This type of business also has the potential for unlimited growth by adding simple reports that can be purchased or adding other types of offerings such as yoga classes or other classes to the main offering. It all depends on a business-person’s choice and interests but can be taken in many directions, as there are product lines in cosmetics that can also be sold alongside the classes. This is a business model with great potential for growth.
Become a social media guru on cannabis
This also has great potential but takes knowledge and study. It also can take the most time to establish oneself as an influencer online. This is a type of social media marketing, and all marketing agencies, especially digital ones will admit it takes a lot of time and effort to win over clients and followers.
On the plus side, the cosmetic cannabis lines as well as vitamins and minerals that are not cannabis can also be sold as can the reports mentioned above. Subscription groups can be added making this a recurring monthly income for those that choose this path. Make posts about all types of cannabis and all methods of growing it at home and a following will develop due to the popularity of this natural drug.
Smaller scale ideas:
If a person owns a bed and breakfast, they can purchase good quality cannabis and offer goods baked with it to guests who like a little spark in their breakfast. Cannabis recipes are easy to find and the baked goods relatively simple to make. Only good quality cannabis should be used in the correct amounts, however, as too much cannabis or bad quality can cause health problems.
Cannabis is stronger when eaten and the effects not felt immediately so good judgment is needed here. Especially if some guests are smokers there can be deleterious effects and guests might smoke weed and then eat it, adding to the high effect and rapid heart rate. Good judgment is needed most especially here in this addition to any bed and breakfast.
Start a blog with cannabis facts and or recipes.
The smallest way to get into business and it takes a long time to see a profit, but a person can share other posts/stories as well as recipes without any fear of legalities or undue effects. It does take constant research and experimentation sometimes, especially if sharing recipes but if a person has the time and takes the effort it can be very enjoyable. Share both good and bad stories and keep readers engaged and the blog will be a hit.
Host your own cannabis group parties.
Grow a few plants on your own and invite close friends and family for a small admission price to your party. Regulations on residential usage must be researched with this however, as some communities or regions still forbid residential growth of even one plant and do not permit any type of distribution. Especially for money!
As one can easily see there are many examples of how to profit from the cannabis revolution without growing or distributing it on a large scale or even at all. Allow your imagination to flow and with the current craze about cannabis there is generally some type of business model out there for everyone.