At first glance, growing cannabis seems like a no-brainer. With more states legalizing it, marijuana could be a real money maker for people. Right? Well, maybe. There are several things to consider before you jump into the pot pool with both feet.

The Long Arm of the Law

First and foremost, you need to understand the laws regarding marijuana where you live. Is it even legal yet? If so, what is the status of that legality? Legalized medical marijuana is different from legalized cannabis consumption. If you reside in a state where recreational pot use is legal, you need to know what form of cannabis meets your state’s requirements. For example, in some states, smoking weed is completely legal. In others, cannabis can only be consumed through oils or edibles. You’ll need to ensure you’re following the letter of the law, including the minimum purchase age. Medical marijuana requires documentation from a health professional, with which you’ll need to be familiar. Also, don’t forget taxes. Different states tax recreational weed differently from medical marijuana, so be sure to collect the proper amount and remit that to the appropriate state agency.

Product Specs

Knowing your product can help you, also. You should be well-versed in the different ways cannabis affects people. You should also know how to use it in all three forms: smoke-able, edible and oils. While you don’t need to know all the medical advantages of marijuana for people with cancer, post traumatic stress disorder, epilepsy and AIDS, knowing the basics of how your crop will help alleviate their symptoms can only help you in your quest to market your product.

Green Thumb

Don’t forget that cannabis is a plant. It needs to be cultivated properly in order to flourish and eventually bring you a profit on your investment. Know anything about wine? In the world of wine, there’s a term called terroir which refers to the growing conditions of the grapes that eventually become wine. Wine enthusiasts know that terroir has many components: climate, soil composition, watering, sun exposure and which grape does best in which growing area. Your cannabis crop will be affected the same way.

You’ll need to understand quite a bit about growing and harvesting crops, as well as how to effectively get that crop to the appropriate market before you embark on running a successful pot farm. Don’t forget to research things like how much water the plants will need, how to support the plants as they grow and the best way to harvest once the plants are ready.

Cannabis can be a cash crop for you if you enter the field wisely.