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If you’re an entrepreneur with a passion for cannabis, then starting a small business in the cannabis industry is a great idea. The demand for cannabis keeps on growing and all kinds of businesses are needed to support the industry. Selling cannabis isn’t your only option- there are tons of ways you can get involved […]
If you’re an entrepreneur with a passion for cannabis, then starting a small business in the cannabis industry is a great idea. The demand for cannabis keeps on growing and all kinds of businesses are needed to support the industry.
Selling cannabis isn’t your only option- there are tons of ways you can get involved and some require little to no investment. From growing to edibles to ancillary services, here are 20 small business ideas in the growing cannabis industry.
Naturally, opening a cannabis dispensary is one of the first ideas to come to mind when thinking of opening a cannabis business. After all, there’s a huge demand for legal, high-quality cannabis, and dispensaries can make a lot of money by selling in areas with eager consumers.
However, while opening a cannabis dispensary may be lucrative in the long run, getting it off the ground can be a major hassle. You’ll need a marijuana business license to operate, and depending on what state you’re in, this can be extremely expensive and time-consuming. Not to mention you’ll have a lot of competition from other major dispensaries. Nonetheless, it’s an idea worth considering if you have an interest in the cannabis industry.
Another top business idea in the cannabis industry is to grow cannabis. Cannabis growers can make a lot of money by growing quality marijuana and distributing it to dispensaries and cannabis stores. However, this is another business idea that can be tricky to start.
Starting a cannabis cultivation business will require a lot of investment when it comes to growing equipment. You’ll also have to go through a difficult licensing process and find retailers that are interested in buying your crops. It’s a great idea if you’re enthusiastic about growing, but it’s best avoided otherwise.
One of the best small business ideas in the growing cannabis industry is to start a cannabis delivery service. While dispensaries and growing operations require a lot of investment to get up and running, starting a delivery service is relatively cheap and straightforward and you can make significant profits.
You’ll still need to get licensed to handle and transport cannabis. However, once you get over that hurdle, starting a delivery service can be quite easy. You’ll need to invest in some means of transport and potentially some delivery drivers to expand your operations, but once you get it off the ground, you’ll find many consumers, retailers, growers, and other cannabis businesses that need your delivery services.
If you’re looking for an easier way to start a cannabis business, then it’s best to avoid handling cannabis at all. It might seem counterproductive, but dealing with cannabis directly requires licensing, which can be a costly and time-consuming process. Instead, you could consider selling cannabis accessories.
You don’t need a marijuana business license to sell smoking accessories, although you’ll need to be careful about how you market your business. Cannabis consumers are always looking for things such as lighters, bongs, pipes, rolling papers, and vaporizers, and selling these is much easier than selling cannabis.
Another great business idea that’s closely related to the cannabis industry is to sell CBD products. CBD is one of the many cannabinoids found in marijuana. However, you can avoid getting a marijuana business license altogether and instead focus on selling hemp-based CBD products.
Marijuana is still federally illegal, which makes it hard to start a cannabis business in certain states. However, the 2018 Farm Bill makes it legal to buy, sell, and produce hemp products across the country. As such, you can sell hemp-based CBD products such as CBD Tinctures, Edibles, Vape Products, Capsules, and more. These are becoming more popular as time goes on so it’s a great time to get involved.
Another smart way to get involved in the cannabis industry without going through the difficult licensing process is to start an ancillary business for cannabis companies. These are businesses that provide tailored services for growers, dispensaries, and everyone else in the industry. For instance, you might want to start a cannabis HR firm.
Human resources management is essential for all kinds of business, but the cannabis industry comes with many unique challenges regarding issues such as hiring, firing, and dealing with employee training. By understanding these challenges and providing expert HR services for the cannabis industry, you can attract many businesses who require these services.
Another one of the best ancillary businesses you can start is a cannabis marketing company. Marijuana marketing is another important role that requires special care- especially as there are various laws regarding how you can advertise cannabis products and where you can advertise them.
By doing some research on how to market cannabis legally and effectively, you can provide tailored services to all kinds of marijuana businesses in need. What’s more, this is a small business idea that costs practically nothing to start and has huge potential for profit.
The cannabis industry is a legal minefield, and many small businesses fail merely by breaking rules and restrictions due to naivete. As such, legal advice is always important for cannabis businesses.
While there are many business lawyers out there, offering expert legal help for cannabis businesses can make you stand out in a competitive field. You can help cannabis companies avoid all kinds of legal problems and keep them afloat.
Many cannabis businesses also need expert help when it comes to financial matters. Getting funding for a cannabis business in the first place is hard enough, but not knowing how to spend it effectively or filing taxes incorrectly can ruin a small business swiftly.
If you’re an expert accountant, then turning your focus towards the cannabis industry is a fantastic small business opportunity. You can provide valuable financial guidance and help cannabis businesses file taxes. These services are in high demand, so you can make a lot of money without having to invest much.
If you have a passion for tourism and a passion for marijuana, you can combine both with this amazing small business idea. Just like local guides give food tours and wine tours, you can start giving cannabis tours to eager cannabis tourists.
This is a perfect small business idea if you love to talk to new people and advise them on the greatest cannabis stores and hotspots in your city. Of course, you’ll need to be in a hotspot for cannabis tourism such as Denver or Las Vegas for the best results. Whether you do this full-time or as a side job, you can advertise your tours on social media and online directories and attract many enthusiastic customers.
If you have a knack for cooking and want to profit from your skills, consider starting a cannabis edibles business. Edibles are in high demand for cannabis consumers, especially as they provide long-lasting effects and a sensational high that’s even stronger than smoking or vaping cannabis.
You’ll need a license to produce marijuana edibles, but you could also consider making delicious CBD Edibles. Whether you focus on baked goods such as cookies and brownies, chocolate bars, or gummies, there are plenty of amazing cannabis-infused foods you can make and sell.
Cannabis and Yoga go hand-in-hand. Both of these activities help free the mind, relax the body, and can improve your physical and mental wellbeing in various ways. As such, you can combine the two and even make it into a fun side business.
Yoga is a growing trend and many people pay for unique and novel Yoga sessions, from Hot Yoga to Couples Yoga. Starting a Cannabis Yoga business will quickly catch the attention of anyone who has a passion for Yoga, cannabis, or both, and you can make money while benefiting clients.
Maybe you know all about starting and running a business but you’re not quite sure exactly how to apply your skills to the cannabis industry. If so, you can apply your expert knowledge and use it to help upcoming cannabis businesses with everything they need.
Starting a cannabis business can be challenging, so researching the obstacles that come with it and applying your business knowledge to overcoming them is an extremely valuable skill that many business owners will pay for. You can advise cannabis businesses on all kinds of matters from starting up to how to use their finances appropriately.
One of the best small business ideas in the cannabis industry is to become an expert cannabis blogger. Tons of people look for new and interesting content on their favorite hobbies and passions, and cannabis is no exception.
There are many ways you can apply your writing skills and get paid for them. For instance, you could start a cannabis blog, build an audience, and get paid by cannabis businesses for placing blogs and advertisements. You could also offer your blogging services to cannabis startups and help them with the well-written content they need for their websites and blogs.
Apps are all the rage these days and all kinds of unique cannabis apps have emerged from Eaze to GrowBuddy. If you have an idea for a handy smartphone app that’ll appeal to cannabis consumers or businesses, then it’s a perfect way to get involved in the growing cannabis industry.
You don’t need to be an expert on programming and app design to make a profitable cannabis app. As long as you have a clear idea and can write a detailed plan, you can find programmers and developers to help you put your vision into action. Many successful apps are bought early for huge amounts of money, so you can make a profit early if you’re lucky.
Social media is more important than ever these days. However, having a large following on Twitter or Instagram doesn’t just make you look good- it can also make you a lot of money. Many cannabis businesses pay social media influencers to promote their products and services.
There are many ways you can do this- you could start a cannabis-based YouTube channel or post cannabis-based content on Instagram. If you can build a large social media following of cannabis enthusiasts, it can quickly turn into a small business where other companies pay you for promotion.
Cannabis is often hailed for its ability to help with issues such as pain, anxiety, and insomnia. However, research also suggests that cannabis may help with dermatological issues such as acne and skin inflammation and even improve your overall skin health.
As such, you might want to consider starting a cannabis cosmetics business. You can make cannabis-infused creams, balms, lotions, and all kinds of other fun and novel products that consumers will love. CBD Cosmetics are particularly popular right now.
If you’re an excellent cannabis chef, you can use your skills to help others and make money at the same time. Starting a cannabis cooking class is a novel small business idea that can grab many peoples’ attention.
You can teach people to cook cannabis edibles, make cannabis topicals, and even mix cannabis cocktails. Whichever way, you’re sure to find many interested customers if you market your classes well. You can even offer paid online classes and cannabis recipe ebooks.
Technology is essential in the cannabis industry, and if you have the knowledge and experience, this offers another interesting opportunity for a small cannabis business. You can help businesses with the technology they need to thrive.
Whether you focus on developing software for cannabis businesses, creating equipment for cannabis growing or manufacturing, or simply offer technological support, this is another lucrative business idea for cannabis entrepreneurs.
Another fun way to get involved in the cannabis retail sector without going through the licensing process is to sell cannabis-themed merchandise. Instead of focusing on cannabis products or accessories, you can instead sell things like t-shirts, mugs, wallets, posters, and all kinds of other fun items to cannabis consumers.
This is a fantastic small business idea as it doesn’t require much investment. You could sell your merchandise online and market it across social media and the internet. You could also set up stalls at cannabis events and festivals. Plus, if your brand takes off, you can expand to offer all kinds of other products.
These are 20 of the best small business ideas for those who want to get involved in the cannabis industry, but there are plenty of other great options including everything from cannabis art to cannabis real estate. No matter what kind of business you run, you can find resources and promotional products to help build your brand at CannabisPromotions.