15 Effective Cannabis Business Ideas for 2019

21 / June 2019,

15 Effective Cannabis Business Ideas for 2019

The cannabis sector is a rapidly growing industry. That’s mainly due to the recent rise in the legalization of medicinal and recreational marijuana in various states across the United States. Medicinal marijuana is now legal in 28 U.S. states, including the nation’s capital. Recreational marijuana is a growing industry as well, and is now legal in eight states, in addition to Washington D.C.

 

In 2016, the cannabis industry contributed $6.9 billion to the nation’s economy, which was a 30% increase over the last year, according to a report from Arcview Market Research. The figure is expected to increase to over $21 billion by 2021.

 

As a result, the cannabis industry has become a lucrative business venture for investors to get into. Though, business leaders are always looking for ways to cater to their clientele so they can turn a higher profit for themselves.

 

Marijuana legalization is the impetus of the global marijuana industry, with more and more entrepreneurs delving into the market than ever before. As the world’s most lucrative plant, it’s no surprise that investors are capitalizing on its popularity. If you are already running a marijuana-themed business, here are some creative ways you can resonate with your target audience and boost revenue.

 

  1. Establish a Marijuana Farm

 

With the increasing legalization of marijuana in many U.S. states, now is a great time to establish a cannabis farm to supply your customers. Nicknamed the green rush, if you make plans to start your own farm, you can gain a sizable distance from your competitors.

 

Growing cannabis is often more time-consuming and complicated than raising any ordinary plant. Therefore, it’s important to keep yourself updated on the latest marijuana growth trends to achieve maximum success.

 

Overall, you’ll need to thoroughly understand the conditions necessary for your products to grow and thrive, as well as how to care for them. Also, growing marijuana requires a license, so you’ll need to go through the proper state channels to receive one before you can begin your farm.

 

  1. Process Marijuana

 

Marijuana processing is a monopoly held by larger manufacturers, but there are countless consumers who prefer a marijuana product that has been locally processed in a controlled environment.

 

Marijuana processing is an ideal choice for any investor who may not be interested in cultivating their own plants but understands how to dry, preserve, and package cannabis products for multiple uses. In many states, you’ll need to have a license to process marijuana, so find out the specific requirements in your state to get started.

 

  1. Begin a Cannabis Delivery Business

 

Delivery services are becoming an increasingly important aspect of the 21st century. Companies like UberEats, Amazon, and GrubHub makes billions of dollars with their delivery-based services, mainly because having a product delivered to your residence is convenient and there’s nothing more than Millennials love more than convenience (and cannabis products, of course).

 

Cannabis is a plant that must be processed in a controlled environment to keep all of its components intact. If you live in a state that has legalized both medicinal and recreational marijuana, you can begin your own cannabis delivery business and here are the steps to doing so.

 

  1. You will need to reach out to dispensaries or local farms to become familiar with the best places to purchase particular strains of the cannabis plant. In addition, you should also know the businesses or people who require these supplies, as they will be the ones responsible for making the payments.
  2. Cannabis is not a heavy product. Therefore, you may need to acquire a van, motorcycle, or even a bicycle to start delivering your products. Once this step is finished, move forward with registering your business with your state.
  3. Once your delivery business is registered, you can start promoting your services and begin finding individuals and business to make deliveries for.

 

  1. Sell Edibles and Snacks

Not every cannabis consumer is a smoker. Due to the rise of stop-smoking advertisements in the United States, a lot of people are beginning to avoid smoking in its entirety. However, that doesn’t mean that people who use marijuana have to smoke it. They can alternatively consume the product instead of burning it.

 

If you possess exceptional culinary skills, you can begin baking and selling edibles and snacks that are infused with cannabis. It’s best to always start with a few items and add more as your popularity grows. If you’re looking for inspiration on what to sell, think like a consumer. Teas, pies, and cakes are always great ideas if you wish to offer a smoke-free alternative to your customers.

 

  1. Sell Marijuana Body Products

 

Marijuana is one of the most diverse plants in the world, having several properties that are beneficial to almost every aspect of human life. Since marijuana does have some skin repair properties, you can begin a new line of service that includes lotions, creams, soaps, and massage oils made with marijuana.

 

If you already have a marijuana business, following this step will be a lot easier since all you would have to do is add an appropriate amount of cannabis to skin-care products. Nonetheless, starting your own marijuana skin care business from scratch is also a viable option.

 

If you are considering this option, then you better make up your mind soon. There are already hemp-infused balms and creams, and even Whoopi Goldberg has her own line of medical marijuana products, that include body balms, soaks, and more.

 

  1. Open a Marijuana Accessories Store

 

Are you hesitant about directly handing the cannabis plant? If so, you can save yourself a lot of trouble by selling marijuana accessories instead. Your line of products can include bongs, pipes, or any other item used for the consumption of marijuana. You can also sell cannabis-themed t-shirts, dog collars, or anything else you can produce or buy.

 

You could receive a high return from your investment with this business by purchasing wholesale items for cheap, cleaning them up, and reselling them. What’s more is that you can open up an online store to maximize your sales even further.

 

  1. Plan Your Own Marijuana Parties

 

Yes. Marijuana parties do exist. Marijuana parties are not affairs where the attendants are completely stoned, but marijuana-themed occasions where everything reminds you of weed.

 

Marijuana parties are a growing trend in the United States, and many people are hosting their own celebrations for their weddings, birthday parties, and reunions. You can make money in this part of the industry by selling your expertise as an event coordinator or party planner.

 

Alternatively, you can also turn a profit by charging a small fee for attendees to join in on the fun.

 

  1. Launch Your Own Marijuana Marketing Services

 

If you have a successful marijuana business, or if you’re proficient with search engine optimization (SEO), social media, or content marketing, you can launch your own marijuana marketing services to help your clients get to your level of success.

 

Following this step is simple if you’ve already attained substantial success in the cannabis industry because you can simply reach out to marijuana businesses and offer your services at your own rates.

 

However, if you’re a start-up, try taking on smaller projects until you can jumpstart your reputation. People in the cannabis industry are always looking for creative ways to gain revenue through savvy marketing. If you have a skill in this area, you can achieve a large return on your investment.

 

  1. Become a Marijuana Consultant

 

Are you an expert in the cannabis industry? Have you conducted a lot of research regarding the cannabis plant, and have you been operating in the industry for several years? If so, you may have invaluable experience and knowledge you can share to other marijuana business for a fee.

 

To become a successful marijuana consultant, you can start by offering your services to small businesses who need to understand their products and clients. That’s because many investors strive to get into the cannabis industry but lack the knowledge to make their business profitable. These investors will often pay to receive knowledge about processing techniques, various strains, gardening procedures, etc.

 

There are also several legal regulations governing the cannabis industry, and your knowledge of these regulations would be beneficial to new business owners who won’t mind paying you for your expertise.

 

  1. Delve into Marijuana Retail

 

Retail is the main connection between businesses and consumers. Depending on the state you live in, you can delve into marijuana retail by selling basic products. Though, in order to make your store successful, you’ll have to create a warm and open environment for shoppers.

 

Marijuana storefronts often carry a negative stigma for being a dwelling place for stoners and addicts. You can quickly dispel this connotation by maintaining a lively, clean, and well-lit store.

 

  1. Create Cannabis Cosmetics

 

The cannabis plant is scientifically proven to have useful cosmetic properties. Tons of research validates that compounds like CBD and THC can be used topically in sprays, lotions, balms, and more. You can conduct your own research and create your own cannabis-infused cosmetic products to begin selling products your competitors aren’t.

 

  1. Open a Marijuana Seed Bank

 

Due to the recent legalization of marijuana in several states, a lot of people have expressed interest in owning their own plants. To own a plant, you first have to possess marijuana seeds and with a marijuana seed bank, you can provide this need.

 

To open a seed bank, you have to ensure that your business is legal in your state. Next, you simply begin purchasing seeds locally or online. One important suggestion is to educate your buyers to establish yourself as an expert on growing marijuana. By doing so, consumers will be ready to purchase from you instead of your competitors who may only be interested in turning a profit.

 

  1. Open a Marijuana Restaurant

 

Like cosmetics and medicine, there are many ways cannabis can be integrated into daily life products. If you are knowledgeable of all the ways you can incorporate marijuana into delicious food, you should open your own marijuana restaurant.

 

To successfully run this business, you will regularly come in contact with the cannabis plant. If you have any legal or personal issues with this, you can instead use concentrates instead.

 

  1. Open a Cannabis Concentrate Business

 

Another major part of the cannabis industry is the extraction of cannabis concentrates. These products are used in several industries, from medical to cosmetics, and even in the restaurant industry as mentioned above. For this reason, starting your own cannabis concentrate business is an ideal way to address the growing need for concentrates and make money in the process.

 

You can decide to extract your own concentrates and sell them to a wide variety of clients, or you can make more money by selling your products to specific niches. However, know that in order for your business to be successful, you’ll have to be located in an area where there are lots of cannabis farms so you can have access to an abundance of raw materials.

 

  1. Start a Cannabis Blog

 

Blogging has evolved into much more than a hobby. Billions of people access the internet every second to find information on a product, service, or particular events. If you wish to become a globally-recognized cannabis brand, then you’ll need to place your words where everyone can find them.

 

Starting a cannabis blog is a great way to share your expertise with consumers and other marijuana businesses. The marijuana industry is still growing, so there are plenty of opportunities to carve out a niche and create a successful (and profitable) blog that showcases your knowledge of marijuana.

 

Conclusion

 

As the marijuana industry continues to grow, there are many ways to make money and establish your business as a worldwide brand. All it takes is for you to stay creative in your approach to produce and market your products to multiple generations that are inspired to take advantage of the legalization of marijuana.

 

By doing so, you can make money and build your brand doing something you love and enjoy.