How to Make Money in the Cannabis Industry
Cannabis sales can reach about $17 billion in the US alone this year, according to BDS Analytics and ArcView Market Research, and that’s thanks to its legalization in more states. Business models are expanding as new opportunities are legalized. For instance, in many places in Europe it is now legal to purchase marijuana seeds on the internet. So if you’re looking to profit from pot, check out the following ways to get started.
The marijuana business is one of the emerging industries in the world.
In the US and Canada, you can now find different cannabis-related companies are already listed on stock exchanges.
Several companies in the US are attracting venture capital money along with exchange-traded fund. There are now over four dozens of weed-related stocks.
To make money, you can buy stocks or use an ETF.
You can expect stocks to become a long-term investment in the cannabis industry. However, it will be wise to diversify to reduce the risk by not risking everything on one endeavor.
On the other hand, you can use an ETF, which is designed to secure the large stockholders and give them a stable and steady return.
You might also want to buy a commercial cannabis operation, such as in the medical cannabis markets. Choose a company with expansion plans and can handle future weed alternatives. But just like in stocks, you should diversify your portfolio.
Offering business services to dispensaries or cultivators
If you don’t want to be a part of the supply chain, like for CBD products, you can still make money in the industry and contribute to the canna culture.
You can still profit from marijuana even without having contact to the plant.
One of the ways to do that is to offer services to those involved in the grower and dispensary sectors.
Did you know that these businesses also need support to keep their business running just as any other business does? They also need POS software and cannabis SEO help that can accommodate marijuana-based businesses.
For example, digitalizing a business requires a dedicated SEO agency that can tailor a specific plan and execute to promote and market it online.
But even if you don’t exclusively focus on growers, dispensaries or delivery services, you can still come up with unique offers like….
- Trademark and patent law services for cannabis businesses
- Real estate for dispensaries
- Financial and banking services for dispensaries
- Social media management and blogging
- Video production and photography for dispensaries
- Interior design and custom furniture
- Insurance services
- Market research
Another way to make money in the cannabis industry for those who have the drive and motivation to innovate is to open a paraphernalia shop or a dispensary if pot is legal in your state. The Ann Arbor Dispensary in Michigan is an excellent example of this method. They have become very successful and are known for their high quality products and service.
You might also want to open a retail shop with focus on selling edibles and cannabis oils or try a paraphernalia shop for cannabis devices like vaporizers and vape pens.
However, consider the licensing fees and state applications as well as working capital. Some states may also require $100,000+ on hand.
Find Profitable Jobs in the industry
While weed is a new sector, it is a promising one that offers many jobs.
According to Whitney Economics and Leafly, the US alone now has 211,000 jobs for fulltime cannabis workers.
While the positions vary, you can still find one that can pay well depending on your skills and the ways you’re marketing yourself.
One job available is for a budtender and trimmer, who cleans and beautifies the buds before selling them.
While it might sound like a boring job, it pays well. You’ll also give advice to customers about the different strains and ring up customers.
Or if you have a specific knowledge base about the cannabis plant and special certifications you can be a marijuana doctor.
If you want to make money in the cannabis industry, try investing, offering services to dispensaries and growers, working in the sector or becoming an entrepreneur. The choice is yours.
How to Make Money in the Cannabis Industry Cannabis sales can reach about $17 billion in the US alone this year, according to BDS Analytics and ArcView Market Research, and that’s thanks to its
How To Make Money In The Cannabis Industry
The cannabis industry is taking off nowadays as it began its rampant development in the past years. With the popularity of medicinal cannabis increasing, more people are considering to join the trend and start a business in this field. But the unknown can keep you away from such a goal that could bring you plenty of benefits. This article will guide you toward the best strategy to make money in the cannabis business without any hassle!
How can you start a cannabis business
Starting a cannabis business is the first aspect you should focus on. If you want to do this on your own and start from scratch, you will need resources such as land, financing and obtaining the right licenses. You will also need employees and a good management team to start your business journey.
Luckily, if you are joining the right crowdgrowing community, this is easier than you might think. And JuicyFields is one of the best crowdgrowing projects you can work with in this industry.
JuicyFields is working on two main fields in the cannabis industry. For once, it is coming in the help pf small cannabis businesses that need to access funds in order to expand. On the other hand, JuicyFields is working towards generating cannabis products, including oils and vapes, that are more affordable to the wide target audience. Along these lines, you can become a cannabis grower without having to invest in pricey licenses or having a generous start-up capital.
If you want to join JuicyFields, there are some easy steps you need to follow:
Create an account on the platform
To start with, you will have to register on the JuicyFields platform, which should only take a few minutes. Once you introduce your details and create an account, you will have access to a demo plant. The demo plant is a great section on the website if you want to understand how growing works and what outcome you can expect. Keep in mind that you have to be at least 21 years old to join the JuicyFields project.
Check out the plant selection
At JuicyFields you can choose between various medicinal cannabis plants. There are different strains that can be used to obtain different products. The growing period as well as the conditions might be different as well from one plant to another. This is why you need to get familiar with all these strains before you start your journey as a cannabis grower.
Choose your plant
All you have left to do now is decide which plant or plants you want to start growing. You can choose one plant or more as well as plants from the same strain or different strains. JuicyField will guide you step by step in the growing process and assist you with all your potential issues. You can visit the plantations at any time by simply making a request to do so, at the email address [email protected]
What about investment and profit
Unlike traditional cannabis businesses that have to start with an investment of tenths of thousands of dollars or even more than that, depending on the state you are from, JuicyFields gives you access to this opportunity for a minimum investment of 50 euros. You can invest more than this according to the type of yield you choose which can be one of four levels” small, medium, high yield or ultra yields.
As for the profit, this will not delay to appear in your bank account. The period of time you have to wait to see an income is roughly three months. It can be a few days more depending on the type of plant you choose to grow when you first join the project. You can easily expect to make a profit in the range of thousands of dollars if you stick to this project for the long haul.
The benefits of working in the cannabis industry with JuicyFields
There are plenty of advantages to look forward to when you start your collaboration with JuicyFields.while some are more obvious, others will show their impact on your professional path over a long period of time.
It is completely legal
The legal aspect is not something you will have to worry about. The JuicyFields team will guide you towards the countries where medicinal cannabis businesses are legal and expected to bloom in the next years. All the growers as well as the processing partners that work with JuicyFields have the licenses they need in their country to develop such an activity.
You will know what income you can expect with no risks
The biggest hassle when it comes to growing cannabis is how much profit you will make compared to the investment. But with JuicyFields you will know that as soon as you start selling your harvest. You will not gamble with your investment and you will know at all times the amount of profit you can count on.
It only takes a few clicks
You can create a successful cannabis business right from your home. There is no need to worry about paperwork or spent time and money to get the authorizations you need in your region. You can start in a matter of minutes and see results of your work with minimum efforts. No other type of cannabis business can offer you this level of comfort.
You can break into the international cannabis market
By becoming a crowdgrower, you have a unique chance of entering foreign markets without leaving the comfort of your house. The cannabis industry is expected to grow with 853% until 2024, which is why you should get into it from the beginning of this development.
In order to start a cannabis business as a crowdgrower for JuicyFields you don’t need any experience. It is simple enough to help you gain plenty of experience within the project and without having to stress at all. The risks involved in cannabis industry are reduced to a minimum with this platform so you can take the steps you are comfortable with and don’t invest more money than you can afford. It is time to join the best crowdgrowing cannabis community and find your path towards a successful business!
The cannabis industry is taking off nowadays as it began its rampant development in the past years. With the popularity of medicinal cannabis increasing, more people are considering to join the trend and start a business in this field. But the unknown can keep you away from such a goal…