Profitable Cannabis Business Ideas
The cannabis industry in the United States continues to mature. Weed is now legal in some fashion in all but 15 states and federal legalization seems to be looming on the not too distant horizon.
The U.S. Cannabis market is worth an estimated $61 billion in 2021 and that number will keep moving higher. This almost exponential growth in demand means new jobs and businesses for not just growers and big players, but hopefully everyone in between.
If you are looking to launch your very own weed business, here are some realistic CannaBusiness ideas to get you started.
1. Weed Delivery
Some states that have legalized weed also allow for the product to be delivered by licensed operators. Delivery is currently legal in Arizona, Arkansas, California, Colorado, Maine, Maryland, Massachusetts, Michigan, Nevada, New Mexico, New York, Rhode Island, and Vermont. In a few states, you can operate with a non-storefront delivery license, but others require you to already operate a physical retail dispensary.
2. Cannabis Consultant
The massive growth in legal cannabis translates to high demand for smart cannabis experts. If you are knowledgeable in some portion of cannabis from seed to sale, you may be able to offer consulting services. For example, you can offer your expertise to help advise on growing, processing, cultivating, marketing, selling, and distributing cannabis. Keep in mind, as a consultant you will need to have expert knowledge of the cannabis industry and your clients will expect no different.
3. Dispensary Interior Design
Yep, you read that right. In 2021 dispensary interior design is a real job and there are even agencies focused on just that. The more inviting your dispensary space is the more people will want to visit and spend money. If you can convince dispensary owners that your interior design skills will increase their profits, it’s a pretty easy sell to make. Check out Sungrown Studio to see an example of someone doing this really well.
4. Weed Podcast
Content is king and podcasting is one of the best mediums out there. Some cannabis-focused podcasts have already popped up, but there is plenty of room for more. You can focus on topics like cannabis investing, pop culture, law, cooking, social justice, and plenty more. Once you start building up a consistent audience you can monetize your podcasts with ads or sponsorships.
5. Cannabis Software & App Development
Nowadays every industry is embracing technology to increase margins and efficiency. Cannabis is no exception. Weed technology companies like Flowhub, Leaflink, and Viridian Sciences are a few paving the way, but there’s definitely room for innovation. If you’re a talented developer who can find the right niche, you might find some lasting success in the cannabis software and app market.
6. Product Reviews
Filming or writing product reviews can be a great way for weed enthusiasts to start up a part or even full-time business in the cannabis space. There’s a lot of demand for product reviewers who can clearly demonstrate the benefits of various products and how to find the best ones. Once you get a decent following, you can then monetize your reviews with affiliate links or advertising on your website or YouTube Channel.
7. Cannabis Marketing
Just about every industry has a demand for competent marketing professionals and cannabis is no different. That’s why we decided to start Stoned Root and there’s plenty of room for others to hop on the bandwagon. You’ll be in high demand if you happen to have past experience in photography, videography, content writing, SEO graphic design, web development, or any other digital marketing discipline.
8. Weed Blog
The cannabis industry is forming and constantly evolving right in front of our eyes. That means there’s plenty of opportunities for hard-working bloggers to build up a following. Your cannabis blog can include topics like product reviews, weed culture, cannabis business, cannabis investing, and plenty more. Once you start seeing some traction, you can work to monetize your blog by hosting advertising on your website or through affiliate links.
9. Sustainable Packaging Design
Another hot topic in the cannabis industry is packaging and specifically eco-friendly weed packaging. Unfortunately, this one will probably require you to have some prior experience or firsthand knowledge in the consumer packaging industry. With that being said, if you currently work in sustainable package design, the weed industry is definitely a space you should be operating in. Sana is one such company that does an amazing job at creating beautiful yet eco-friendly cannabis packaging solutions.
10. Licensed Cannabis Distributor
Some states require cannabis brands and retailers to work with distributors in order to get products on shelves. If you think you have what it takes to be a cannabis middleman between brands and where they are sold, distribution may be a good route to go down. We suggest checking with your state’s rules and regulations when it comes to distribution before going down this route.
Summary
There are definitely some barriers to entry and confusion around legality from state to state, but we believe cannabis is one of the best industries to be in. Do you already own cannabis business and are having trouble marketing it? We’re a cannabis-focused boutique digital agency offering affordable content marketing, SEO, and Social Media services
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