Cannabis oil in small bottle with cannabis bud and seeds
If ever there was a market filled with contention and a surprising amount of opportunity – it’s the cannabis industry.
With more countries and states legalizing cannabis, a rise in the number of people using CBD for things like pain and sleep is becoming more common. It has also made significant impacts on pop culture – so if you’re looking for a fun industry to get into, then this might be it.
There are many ways to get involved in the business without selling directly to the consumer rather than through a dispensary. Of course, the groundwork will be sourcing a great strain, choosing a great seed, and commercial grow rooms.
Here are some of the opportunities within the industry.
Photo by Richard T on Unsplash
Ancillary
Aside from selling cannabis, many supporting businesses support the plant-touching side of the industry.
Equipment
To make some of the popular consumables, equipment is required to extract components from the cannabis flowers. This includes waxes, oils, and isolates.
Security
The industry as a whole heavily relies on security for practical and regulatory reasons. All areas of the grow space and the dispensary will need to have strict security cameras and security. Dispensaries are often a target for would-be thieves.
Investments
There are many intelligent investments to be made in the cannabis industry, and since most cannabis businesses aren’t able to secure financing from some of the more common places like banks. They need to seek investment from private investors and venture capitalists.
Professional services
Every service that a regular business might need, like marketing, social media, web development, accounting, and lawyers, will be required by any cannabis business that wants to succeed.
While this is a challenging role due to the constraints, it is also one of the most enjoyable.
Hands-on
Aside from all of the supporting business ventures that are possible within the industry, there are some plant-handling roles. In order to have a successful business in these areas, you will need to build good relationships with dispensaries.
Breeders
Through selective breeding, cannabis growers are able to ensure that they can offer a range of options. Breeders will look to breed with the highest quality of genetics and ensure that future generations of the plant are disease-free.
Cultivators
The enormous growth operations will be overseen by cultivators. Typically, substantial commercial grow rooms – similar to warehouses. They will understand the plant on a fundamental level and be able to produce high-quality and healthy plants that are fit for dispensaries.
While the plant-handling opportunities are often highly sought after, it is often the supporting businesses that have a lower barrier to entry for start-ups and smaller companies. Keep in mind that as a business owner, it will be your responsibility to make sure that you are well-versed in all of the rules and regulations surrounding cannabis.
Research is one of the most important things that you can do when you consider getting into the cannabis industry. This post can help give you some tips: How to Get Started In the Cannabis Industry – Erica R. Buteau.
