As cannabis becomes legal in more areas, the demand for the product becomes greater. There is more than just buying and selling of raw buds in this industry. Below are some business ideas involving marijuana. Of course, digital marketing can help to boost any of these industries.
1. Growing
Growing marijuana is the first step to doing anything business-wise with the product. A growing business can only involve growing or can go on to work with or alongside any of the other business ideas below. Either way, the grower is the first person in the chain of any cannabis-related business.
2. Processing
The next step, which can also be a business all its own, is to process the buds of the plant. This separates the useable parts of the plant from the unusable parts. From here, the buds can be used in a variety of ways.
3. Distributing
Raw processed buds can be sold to other businesses or people. This can be done by selling the product directly or working as a middleman.
4. Selling Edibles
One common way cannabis is consumed is through edibles. These can include bakery goods, gummies, oils, and more. Someone needs to produce these goods, so why not you? All of these products need to be food-grade and labeled as such.
5. Selling Beauty Products
Cannabis, usually in an oil form (CDB oil, etc.) is sometimes used in beauty products because of CBD’s many health benefits. The production and selling of these items can make a lucrative business.
6. Refining Oils
Since CBD oil can be used in both edibles, beauty products, and more, having a business that’s sole purpose is to refine the oil can be profitable. Different grades of oils can be produced. Oils can also be infused with other ingredients to make them more desirable.
7. Delivering
Opening a business that delivers cannabis or cannabis-related products can also be profitable. This stands true whether the deliveries are brought to individuals or businesses. Delivery people would need to check to make sure the buyer is of legal age (if there is THC in the product)
8. Packaging
Cannabis products need to be packaged like any other. Packaging can be as simple and designing labels or as complex as designing a container. This involves some degree of graphic design skills.
9. Marketing
Advertising is vital for getting any business attention. With regards to cannabis, social media advertising will most likely be the most effective.
10. App Developing
Creating apps for businesses, websites, or anything else related to the marijuana industry can help to boost sales by giving people another way to access the product.
With so many options to pick from, what will you invest in?
