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Cannabis Industry Business Opportunities in 2021

If you’ve ever dreamed of starting a cannabis business, or you simply want a new and exciting business venture, it looks like there’ll be more cannabis industry business opportunities in 2021 than ever before. The attitude to cannabis around the United States is becoming more positive each year, and reports reveal that the cannabis industry […]

Cannabis Industry Business Opportunities in 2021

If you’ve ever dreamed of starting a cannabis business, or you simply want a new and exciting business venture, it looks like there’ll be more cannabis industry business opportunities in 2021 than ever before. The attitude to cannabis around the United States is becoming more positive each year, and reports reveal that the cannabis industry is the fastest-growing industry in the U.S.

The 2020 election day was huge news for the marijuana sector- Arizona and New Jersey legalized recreational marijuana, while Mississippi and Montana legalized medical marijuana. Most surprisingly, South Dakota legalized marijuana for medical and recreational use. Along with the long list of other legal marijuana states, there are now more geographical opportunities than ever for cannabis businesses in the U.S.

On top of that, there are also plenty of ways to get involved in the rapidly-growing cannabis industry. Along with obvious examples such as operating a dispensary or cultivating cannabis, you can also offer B2B services to cannabis companies, focus on supporting products such as smoking accessories, or even make a cannabis app. 

So what are the most interesting ideas for budding pot entrepreneurs? Here are some of the best cannabis industry business opportunities to consider in 2021.

Open A Cannabis Dispensary Or Store

Although it’s not the cheapest or easiest option, opening a cannabis dispensary or store is still one of the best business opportunities in the marijuana industry. As time goes on, the public interest in buying cannabis continues, both for personal and medical purposes. If you choose the right location and provide them with quality products, you can end up with a hugely successful business.

Before you consider opening a cannabis dispensary, it’s important to know about the challenges that come with it. You’ll need to obtain a cannabis license, which can be a long and costly process. You’ll also need to obtain a good deal of funds from investors or venture capital funds as there are many expenses involved in opening a dispensary.

Location is key when it comes to opening a dispensary or store. Not only is it important to choose a state where cannabis is in high demand, but you should also open your business in an area with plenty of potential customers closeby. If you make the right choices and market your store well, it’s an excellent way to thrive in the industry.

Cultivate A Cannabis Farm

Cultivate A Cannabis Farm

Another one of the most interesting cannabis business opportunities to consider is cannabis cultivation. As the demand for cannabis grows across the country, so will the need for suppliers. If you can open a successful marijuana farm with top-quality strains, you could stand to make a lot of money.

Much like opening a dispensary or store, many challenges come with opening a cannabis cultivation business. You’ll need to obtain a cannabis license for growing cannabis. You’ll also need to invest in a good amount of land and all the commercial cannabis growing equipment you need- not to mention experienced staff members.

Although it’s not one of the easiest options, it’s still one of the best businesses you can run in the marijuana industry. After all, once you’ve handled the hard parts, you can grow tons of cannabis and make a great deal of profit from your crops. If you don’t want to start a farm from scratch, you can also buy existing cannabis farms and take over the operation.

Start A Marijuana Delivery Service

One of the most wanted and needed services in the marijuana industry is marijuana delivery. Although there are now many stores and dispensaries where people can buy the products they need or pick-up orders they made online, many customers would much rather have cannabis delivered directly to their homes.

While you’ll need a license to transport cannabis and cannabis products, you can make a lot of money without having to invest too much. With a few vehicles and some safety regulations, you can make a lot of profit simply by delivering cannabis from dispensaries to customers or even transporting products from manufacturers to stores.

If you don’t mind going through the marijuana business licensing process but don’t want to deal with the various challenges of starting a dispensary or cultivation business, this is a much better idea. Even during the coronavirus lockdowns, cannabis delivery was in high demand, showing just how important cannabis delivery services are.

Sell Cannabis Accessories

It’s worth remembering that not every cannabis business requires a cannabis license. As long as you’re not dealing directly with marijuana or marijuana-infused products, you don’t need to go through the difficult and costly licensing process. This allows you to open a business much easier and quicker. For instance, you might want to sell cannabis accessories instead.

Even if you’re not selling weed, you can still profit from the huge cannabis boom across the country by selling the related accessories they need. Marijuana users will always need things like lighters, grinders, and rolling papers. You can also sell smoking and vaping devices such as Pipes, Bongs, Bubblers, and Vaporizers.

There are also a few ways you can go about this. For instance, you could open a head shop and market yourself to cannabis consumers. Alternatively, you could become a manufacturer or supplier of cannabis accessories and sell your products to cannabis stores or dispensaries. Whichever way, there’s a lot of demand for smoking accessories, and devices like high-quality Bongs and Vaporizers can go for a lot of money.

Become A Cannabis Lawyer

Become A Cannabis Lawyer

Sometimes the best way to get involved in a young and growing industry is to adapt your skills to fit the unique challenges they face. For instance, one of the best ways to get involved in the cannabis industry without having to deal with cannabis itself is to become a cannabis lawyer.

The marijuana industry is a legal minefield with all kinds of rules and regulations to follow. Most startup owners won’t have the time to research every aspect of business law along with the unique laws that come with running a cannabis business. This is why specialist cannabis business lawyers are so valuable.

If you’re a legal expert and research cannabis business law, you can offer tailored legal services to cannabis dispensaries, cultivators, manufacturers, and all other kinds of cannabis businesses. Both new and experienced businesses need legal advice, and if you can offer specialized advice for cannabis businesses, you could become a sought-after industry expert.

Offer Cannabis Business Accounting

Another one of the crucial services that every cannabis business needs is accounting. Accounting for cannabis businesses is different from regular businesses- there are unique rules and regulations when it comes to taxing marijuana. Not to mention they often need extra help with things like funding and managing their finances.

Much like lawyers can adapt their expertise to the cannabis industry, becoming a cannabis business accountant can set you up for success. Many businesses would rather hire an experienced accountant who knows the ins and outs of the industry than hire a regular accountant, so this can make for an excellent business opportunity.

You can offer all kinds of services from simply handling taxes for marijuana businesses to offering premium financial advice. Whichever way, many businesses will pay good money to ensure that their bookkeeping and accounting is handled correctly and avoid issues with financial matters in the future.

Start The Next Big Cannabis App

The mobile app market is another one of the most exciting and fast-growing industries in the world today. As such, why not combine the rise of the cannabis industry with the exponential growth of the app industry by making a cannabis app? If you have a good idea and put the work in to take it off the ground, you could make a huge amount of money in no time.

There are many great examples of successful cannabis apps. For instance, cannabis delivery app Eaze is targeted at cannabis consumers who want fast and efficient weed delivery. Cannabis growing app EZGrow is aimed at both amateur and professional growers, making the whole process of growing cannabis easier. You can take inspiration from these and come up with an inventive idea for consumers, growers, or cannabis businesses.

You don’t need to be a programming expert to make an app, either. As long as you can make detailed plans for your idea, you can hire the help you need to make it happen. Plus, there are many ways to make money from an app. Some make money from ads whereas others offer microtransactions for features or upgrades. If your app generates enough buzz, you could even sell it for a huge profit and move onto a new project.

Open A Cannabis Lounge Or Cafe

Open A Cannabis Lounge Or Cafe

Another awesome way to get involved in the cannabis industry is to make the coolest cannabis hotspot in town. While there are now dispensaries and stores across the country, cannabis lounges and cafes could be the next big thing.

Unfortunately, there are some boundaries to opening a lounge or cafe. You’ll need to be in the right area as they’re still forbidden in many states. However, cannabis lounges are starting to crop up in certain parts of the country and they’ll likely be even bigger in the future.

It’s also worth noting that there are ways around the legal hurdles of opening a cannabis cafe. For instance, even if you can’t serve cannabis products, having a cannabis-themed cafe with themed drinks and foods can still help you stand out. It can even be an add-on to another cannabis business, such as a head shop or even something like a cannabis yoga class.

Become A Marijuana Tour Guide

Many states now allow anyone aged 21 or over to buy and use marijuana. This isn’t just good for residents- it also appeals to tourists who want to travel somewhere new and exciting, especially when they can partake in some psychoactive fun. As such, those who live near a cannabis tourist hotspot might want to become marijuana tour guides.

Starting a Marijuana Tour service can be tons of fun. You can meet like-minded people, share your passion with them, and show them the coolest cannabis hotspots in your town. Whether you take them on a tour of the best dispensaries, cannabis-themed museums, or even take them to fun activities after they’ve smoked, there are many ways this can work.

Cannabis tours are currently popular in areas such as Denver, Portland, Boston, and San Francisco. These areas are all worth considering, but you could also consider becoming the best cannabis tour guide in a new cannabis hotspot such as Arizona, New Jersey, or even Alaska.

Become A Cannabis Influencer

Become A Cannabis Influencer

One of the most interesting trends in the modern age is the rise of social media influencers. Instagram celebrities, popular YouTubers, and even Twitch streamers get paid good money simply to review or advertise products, and this spans all kinds of industries. As such, if you love cannabis and have the right personality, you might want to become a cannabis influencer.

While you won’t turn into a top cannabis influencer overnight, there are many routes to make it happen. For instance, you might want to start a cannabis-themed YouTube channel with informative and entertaining content. You might want to make an Instagram page that appeals to stoners. If you can build a strong following, the sponsorship offers will come soon enough.

It might take a while to make a full-time living as a cannabis influencer, but the whole experience can be a lot of fun as a side hobby. Not to mention that, aside from sponsorships, influencers also have other revenue streams such as selling merchandise and e-books. If you can gain enough loyal followers, you’ll be surprised how much money you could make.

Conclusion

The cannabis industry is only getting bigger, and whether you want to start a small side business or a major cannabis company there are plenty of cannabis industry business opportunities in 2021. If you need help with starting and promoting your business, you can find plenty of resources and even high-quality branded cannabis products at Cannabis Promotions.